SYDNEY, Dec 6 Reuters – Australia’s prime minister TonyAbbott spurned a plea for help from Qantas Airways Ltd on Friday, saying subsidising the embattled airline would be “a bottomless pit” as its credit rating was relegated to junk status.The downgrade by Standard & Poor’s followed a shock loss warning from the carrier on Thursday that …
Italy’s government drew fire on Friday after stitching together an emergency bailout for Alitalia that critics said should involve less taxpayer money and more long-term strategy, while top shareholder Air France-KLM refused to commit to the plan.Alitalia, which last turned a profit in 2002, needs to secure funding of 500 million euros $676 million by …
Jean-Marc Eustache isn’t seeing red yet.The president and chief executive officer of tour operator Transat A.T. Inc. has a deep-pocketed new threat to watch out for: Air Canada’s low-cost carrier, Rouge.So far, though, Rouge’s arrival doesn’t appear to have done much damage to Montreal-based Transat’s performance. The summer of 2013 looks to have been an …
Earlier this week, United Continental NYSE:UAL experienced a computer glitch that allowed customers to mistakenly book cross-country flights for less than $10, leading onlookers, as well as those customers who were able to purchase ultra low-price tickets, to wonder whether United would end up honoring the bookings. But Bloomberg reports that United has now decided …
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