AirAsia X Bhd (KL:AAX) said on Friday it will be acquiring Capital A Bhd's (KL:CAPITALA) aviation business directly, and not via a new company (NewCo) under an internal reorganisation proposed previously, to expedite the takeover.

AirAsia X to take over Capital A’s aviation business directly without setting up NewCo

American Airlines Group Inc cut its earnings outlook as it works to bounce back from earlier blunders that will weigh on revenue and profits for the rest of 2024.

Adjusted full-year profit will be 70 cents a share to US$1.30 (RM6.07), less than its earlier outlook of as much as US$3.25 a share, the carrier said on Thursday in a statement. It also expects to break even in the third quarter, well short of the 49-cent per share profit expected by analysts.

American Airlines slashes profit outlook after strategic misstep

The AirAsia Aviation Group (AAG) maintained its quarterly load factor of 90% in the second quarter of 2024 (2Q 2024), which is two percentage points higher than last year.

Capital A Bhd said AAG, which comprises AirAsia Malaysia, AirAsia Thailand, AirAsia Indonesia, and AirAsia Philippines has achieved a positive performance on the back of increased capacity.

Capital A Aviation Group maintains 90% load factor, 15.6 mil passenger volume in 2Q

The Frankfurt Airport was forced to briefly suspend operations and cancel some flights, after climate protesters invaded the airfield of Germany’s busiest hub during the peak travel season. 

In total, 140 flights had to be cancelled, airport operator Fraport said in a statement. Operations are resuming after Fraport suspended services shortly after 5am, because protesters had glued themselves to a taxiway, the company said.

Frankfurt Airport cancels 140 flights due to climate protests

(July 24): Boeing finalised a guilty plea to a criminal fraud conspiracy charge and agreed to pay at least US$243.6 million after breaching a 2021 agreement with the US Department of Justice (DOJ), or Justice Department, according to a court filing on Wednesday.

Boeing finalises 737 MAX guilty plea deal, US outlines reasons

Delta Air Lines Inc is expected to take a sizable financial hit this quarter from the system breakdown that led to thousands of canceled flights and prompted a federal investigation of the carrier’s response.

Delta expected to take US$500m hit as disruptions start to ease

The US Federal Aviation Administration (FAA) said on Wednesday it had struck a deal with an employee union to ensure that air-traffic controllers receive additional rest as the agency deals with a staffing shortage.

Under current rules, controllers handling active airplanes must get an eight- or nine-hour break between shifts in most instances.

FAA, union agree on new rest rules for air-traffic controllers

AirAsia X Bhd (KL:AAX) reported a 42% increase in passenger traffic, carrying 880,265 passengers in the second quarter of 2024 (2Q2024) from 621,984 in 2Q2023, driven by peak spring travel seasons and Eid holiday during the period.

AirAsia X’s 2Q2024 passenger traffic up 42%

Malaysia Airlines has cancelled its flight MH366 from Kuala Lumpur to Taipei and MH367 from Taipei to Kuala Lumpur on Wednesday due to the anticipated adverse weather conditions in Taiwan caused by Typhoon Gaemi.

Malaysia Airlines cancels flights MH366 and MH367 due to Typhoon Gaemi in Taiwan

Britain's Heathrow Airport reported a first-half profit on Wednesday, boosted by robust passenger traffic as travel demand remained steadfast, while urging the new government to consider policies to help the country better compete with European travel hubs.

UK's Heathrow airport posts first-half profit on steady travel demand

At least 18 people were killed when a regional passenger plane belonging to Nepal's Saurya Airlines crashed and caught fire while taking off from the capital Kathmandu on Wednesday, officials said.

Nepal plane crash at Kathmandu airport kills 18

Boeing said on Tuesday it has resumed deliveries of its best-selling 737 MAX airplane to China after a lengthy delay stemming from regulatory issues.

Reuters reported on May 22 that Boeing's plane deliveries to China had been delayed in recent weeks due to a Chinese regulatory review of batteries powering the cockpit voice recorder.

Boeing resumes deliveries of 737 MAX airplanes to China

The US Transportation Department said on Tuesday it is opening an investigation into Delta Air Lines after the carrier cancelled more than 5,000 flights since Friday as it struggles to recover from a global cyber outage that snarled airlines worldwide.

US opens probe into Delta following widespread flight cancellations

NILAI (July 23): Certain procedures and communication systems at airports can be improved to tackle unforeseen incidents like last week’s information technology (IT) system outage, said Transport Minister Anthony Loke.

Loke: Room for improvement in airport procedures, communication systems

SARAWAK expects to formalise a deal to raise its stake in Affin Bank Bhd to about 30% in about a month, according to the state’s premier Tan Sri Abang Johari Openg.

In an exclusive interview with The Edge in Kuala Lumpur last Friday (July 19), Abang Johari said the state is committed to...

Premier: Sarawak expects to ink S&P on Affin Bank deal in a month

Treasuries are rising at the end of a volatile week as the Federal Reserve’s favourite inflation gauge cemented traders’ expectations for an interest-rate cut in September.

The advance pushed yields lower across the curve on Friday, with two- and 10-year yields down by about five basis points (bps) to 4.38% and 4.2%, respectively.

Treasuries rally as data points to a September rate cut

The developer of a supertall condo tower in Miami’s Brickell neighbourhood has hired a new sales team after ousting an embattled real estate brokerage from the project.

One Sotheby’s International Realty has taken over marketing at 888 Brickell Dolce & Gabbana Miami, JDS Development’s pre-construction building overlooking Biscayne Bay in the city’s financial centre.

Miami condo tower moves on from brokers facing rape allegations

Deputy Prime Minister Datuk Seri Fadillah Yusof paid a courtesy visit to Vietnamese Prime Minister Pham Minh Chinh on Friday.

"During the meeting with His Excellency, I reaffirmed the commitment of the prime minister and the Malaysian government to continue strengthening cooperation between Malaysia and Vietnam," he said in a post on the social media platform X.

Deputy PM Fadillah pays courtesy visit to Vietnamese PM, strengthens bilateral cooperation

Wall Street bounced back on Friday as megacap tech and chip stocks recovered from the week's pummeling, while a largely in-line key inflation reading kept bets for an early start to interest-rate cuts alive.

Wall Street rebounds on tech recovery, small caps jump after benign inflation data

Malaysia has urged dialogue partners attending the Asean Post-Ministerial Conference in Laos to support a ceasefire in Gaza and end the brutal killings of Palestinians.

Foreign Minister Datuk Seri Mohamad Hasan said Malaysia, along with Indonesia and Brunei, brought forward this motion during the meeting at the National Convention Centre (NCC) here.

Malaysia urges Asean dialogue partners to support ceasefire in Gaza

US authorities filed criminal and civil charges against prominent activist short seller Andrew Left for an alleged long-running market manipulation scheme involving bets on stocks including Nvidia and Tesla, they said on Friday.

US charges Citron's Andrew Left over alleged multi-million fraud scheme

Malaysia, as the country coordinator for Asean-China Dialogue Relations, will intensify efforts to finalise the Code of Conduct in the South China Sea, said Foreign Minister Datuk Seri Mohamad Hasan.

He said Malaysia, which assumed the role of country coordinator this year, aims to establish a code of conduct accepted by all parties.

Malaysia steps up efforts to finalise South China Sea code of conduct

Here is a brief recap of some business news and corporate announcements that made the headlines on Friday.

AirAsia X, Capital A, Hibiscus, Dagang NeXchange, ViTrox, Ekovest, Knusford, Alam Maritim, Datasonic, Kumpulan Kitacon, DXN, Homeritz, Westport, MGRC 

VIENTIANE (July 26): The Asean Post Ministerial Conference kicked off in the Laos capital here on Friday, as Asean foreign ministers engaged with top diplomats from dialogue partners to discuss various regional and international issues of common interest.

Asean Post Ministerial Conference kicks off in Laos; regional, global issues in focus

Here is a brief recap of some business news and corporate announcements that made the headlines on Friday.

Ekovest Bhd (KL:EKOVEST) said it has agreed to a further extension of time to discuss a merger between its wholly owned subsidiary Ekovest Construction Sdn Bhd (ECSB) and Knusford Bhd (KL:KNUSFOR).

Ekovest agrees to six-month extension for merger discussion between subsidiary and Knusford

US prices increased moderately in June as the declining cost of goods tempered a rise in the cost of services, underscoring an improving inflation environment that could position the Federal Reserve to begin cutting interest rates in September.

US inflation rises moderately, consumer spending cools

Here’s a quick look at some of the stories that made headlines today.

EVENING 5: Five things you need to know today

The prestigious five-star Lexis Hibiscus 2 luxury resort is currently under construction by the KL Metro Group and is expected to be completed by 2029, said Negeri Sembilan Menteri Besar Datuk Seri Aminuddin Harun.

Construction of RM1.6 bil GDV Lexis Hibiscus 2 resort will be completed in 2029

Practice Note 17 (PN17) company Alam Maritim Resources Bhd (KL:ALAM) has announced its regularisation plan, which includes a share capital reduction of RM440 million, 10-to-one share consolidation, an issuance of renounceable rights shares with warrants and a scheme of arrangement with its creditors.

Alam Maritim submits regularisation plan to exit PN17 status

Health and wellness direct selling company DXN Holdings Bhd (KL:DXN) said on Friday its net profit rose 10.26% in the first quarter from a year earlier due to higher revenue recognised from overall operating segments.&nbsp;

DXN Holdings 1Q net profit up 10.26%, targets market presence in Zambia, Ghana  

Wall Street bounced back on Friday as megacap tech and chip stocks recovered from the week's pummeling, while a largely in-line key inflation reading kept bets for an early start to interest-rate cuts alive.

Upholstery furniture products manufacturer Homeritz Corp Bhd’s (KL:HOMERIZ) net profit surged 46.37% in the third quarter from a year earlier, thanks to higher sales volume and stronger US dollar. &nbsp;

Net profit for three months ended May 31, 2024 (3QFY2024) climbed to RM9.09 million or earnings per share of 1.96 sen, from RM6.21 million or 1.34 sen per share recorded in 3QFY2023. &nbsp;

Homeritz’s 3Q net profit soars 46.37% on higher sales and strong greenback

Cyberview Sdn Bhd has signed three Memoranda of Understanding (MOUs) with three companies to make Cyberjaya a global technology hub.

Chief executive officer Kamarul Ariffin Abdul Samad said the companies involved were Permodalan Negeri Selangor Bhd (PNSB), Selangor Information Technology &amp; Digital Economy Corporation (SIDEC) and digital infrastructure company Equinix Malaysia.

Cyberview signs three MOUs to make Cyberjaya a global technology hub

The developer of a supertall condo tower in Miami’s Brickell neighbourhood has hired a new sales team after ousting an embattled real estate brokerage from the project.

One Sotheby’s International Realty has taken over marketing at 888 Brickell Dolce &amp; Gabbana Miami, JDS Development’s pre-construction building overlooking Biscayne Bay in the city’s financial centre.&nbsp;

SARAWAK expects to formalise a deal to raise its stake in Affin Bank Bhd to about 30% in about a month, according to the state’s premier Tan Sri Abang Johari Openg.

In an exclusive interview with The Edge in Kuala Lumpur last Friday (July 19), Abang Johari said the state is committed to...

Deputy Prime Minister Datuk Seri Fadillah Yusof paid a courtesy visit to Vietnamese Prime Minister Pham Minh Chinh on Friday.

"During the meeting with His Excellency, I reaffirmed the commitment of the prime minister and the Malaysian government to continue strengthening cooperation between Malaysia and Vietnam," he said in a post on the social media platform X.

Kumpulan Kitacon Bhd (KL:KITACON) has secured a RM54.5 million contract to undertake the construction of 186 terrace houses in Rawang, Selangor.

Kumpulan Kitacon bags RM54.5m job to build houses in Rawang

Treasuries are rising at the end of a volatile week as the Federal Reserve’s favourite inflation gauge cemented traders’ expectations for an interest-rate cut in September.

The advance pushed yields lower across the curve on Friday, with two- and 10-year yields down by about five basis points (bps) to 4.38% and 4.2%, respectively.

Penang Port Sdn Bhd (Penang Port) on Friday announced the acquisition of five Kalmar container handling machines to optimise operations and improve service levels.

Penang Port acquires Kalmar container handling equipment to enhance services

US authorities filed criminal and civil charges against prominent activist short seller Andrew Left for an alleged long-running market manipulation scheme involving bets on stocks including Nvidia and Tesla, they said on Friday.

Hungary will face fuel shortages from September if full Russian oil flows are not restored, a government official said on Friday, accusing Ukraine of blackmailing it by partially suspending supplies.

Eastern European Union (EU) members Slovakia and Hungary have been hit by a stop in flows from Russian group Lukoil coming via Ukraine after sanctions were imposed on the company.

Hungary says it will face fuel shortages from September without Lukoil supplies

Malaysia, as the country coordinator for Asean-China Dialogue Relations, will intensify efforts to finalise the Code of Conduct in the South China Sea, said Foreign Minister Datuk Seri Mohamad Hasan.

He said Malaysia, which assumed the role of country coordinator this year, aims to establish a code of conduct accepted by all parties.

A new recruitment of 3,950 staff, comprising 3,200 medical officers, 350 dental officers and 400 pharmacy officers, will be made through contract (interim) appointments, the Ministry of Health (MOH) said.

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