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Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to for 100% free stock alerts Chase Bank has moved to limit cash withdrawals while banning business customers from sending...

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Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...

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Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

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Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...

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UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...

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VIDEO: Branson turns air stewardess after bet

Category : Business, World News

Virgin boss Sir Richard Branson got dressed up as a female flight attendant after honouring a bet he lost to Air Asia chief executive Tony Fernandes.

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Air France-KLM (AFLYY: OTC Link) | Quarterly Report

Category : Stocks, World News

Fri, May 03, 2013 01:19 – Air France-KLM (AFLYY: OTC Link) released their Quarterly Report concerning Air France-KLM: First Quarter 2013 Results. To read the complete report, please visit:

See the article here: Air France-KLM (AFLYY: OTC Link) | Quarterly Report

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Global air travel ‘rises by 5.9%’

Category : Business, World News

The International Air Transport Association (Iata) says air passenger travel grew by 5.9% in March compared with a year earlier, boosted by emerging markets.

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US lifts Boeing Dreamliner ban

Category : Business

US regulators have issued a formal “air worthiness” directive allowing revamped Boeing 787 Dreamliners to fly again, after a three-month grounding.

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Downdraft theory in Lion Air crash

Category : Business

Investigators consider whether powerful ‘wind shear’ or ‘microburst’ caused Bali crash in which all 108 on board survived

The Lion Air pilot whose jet fell into the sea while trying to land in Bali has reportedly described how he felt it “dragged” out of its trajectory and into the water. Investigators are considering whether a powerful downdraft of wind caused the crash in which all 108 passengers and crew survived despite the Boeing 737 cracking in half on impact.

The newly built plane undershot the tourist island’s main airport runway in Denpasar and belly-flopped in water on Saturday. Authorities from Indonesia, the US and Boeing are investigating.

Initial debriefings, witness comments and weather reports have focused attention on the possibility of “wind shear” or a downdraft from storm clouds known as a “microburst”. Experts say such violent and unpredictable gusts are rare but can leave even the most modern jet helpless if they are stronger than the plane’s ability to fly out of trouble – with the critical moments before landing among the most vulnerable.

“If you have a downdraft which exceeds the performance of the plane, then even if you put on full thrust you will go downhill and you can’t climb out,” said Hugh Dibley, a former British Airways captain and expert on loss-of-control events.

The cause of the crash has potential implications for the reputation of one of the world’s fastest-growing airlines, which is fighting to be removed from a European Union safety blacklist just as it buys record volumes of Airbus and Boeing jets.

According to initial pilot debriefings, details of which have been described to the Reuters news agency, flight JT-904 was on an eastwards approach to Bali’s Ngurah Rai airport at mid-afternoon on Saturday following a normal flight from Bandung, West Java.

The co-pilot, an Indian national with 2,000 hours of relevant flying experience, was in charge for the domestic trip, which was scheduled to last one hour and 40 minutes.

As the Lion Air plane was coming in to land, with an aircraft of national carrier Garuda following behind and another about to take off on the runway just ahead, the co-pilot lost sight of the runway as heavy rain drove across the windshield. The captain, an Indonesian citizen with about 15,000 hours’ experience and an instructor’s licence, took the controls.

Between 122 metres and 61 metres altitude (400-200ft) pilots described flying through a wall of water, according to the source. Bursts of heavy rainfall and lost visibility are not uncommon in the tropics but the aircraft’s low altitude meant the crew had little time to react.

With no sight of the runway lights or markings the captain decided to abort the landing and perform a “go around”, a routine manoeuvre for which all pilots are well trained. But the captain told officials afterwards that instead of climbing the 737 started to sink uncontrollably and their well-practised routines unravelled quickly.

“The captain says he intended to go around but that he felt the aircraft dragged down by the wind; that is why he hit the sea,” said the source, who was briefed on the crew’s testimony. “There was rain coming east to west; very heavy,” the source said, asking not to be named because no one is authorised to speak publicly about the investigation while it is under way.

A passenger on board the jet painted a similar picture of an aircraft getting into difficulty only at the last minute. “There was no sign at all it would fall but then suddenly it dropped into the water,” Tantri Widiastuti, 60, told Metro TV.

Lion Air declined to comment on the cause of the crash.

According to the Flight Safety Foundation, bulletins for pilots at around that time indicated a few storm clouds at 518 metres (1,700ft) and a wind blowing moderately but varying in its direction from east-south-east to the west.

The aircraft itself was delivered in February and there had been only one technical problem: a landing light that had to be replaced.

According to Boeing, the 737-800, its most popular current model, is equipped with a system that detects wind shear ahead and warns the pilot audibly to go around.

Hot air balloon firm goes bust

Category : World News

A Wiltshire-based hot air ballooning company goes bust with the loss of 30 jobs.

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Airbus wins record plane order

Category : Business, World News

European-owned planemaker Airbus has won a record order for 234 planes worth 18.4bn euros (£15.7bn, $24bn) from Indonesia’s Lion Air.

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Smoke in the cabin, crew in tears: how my flight turned into terror at 30,000ft

Category : Business

What started as a runway delay became every air passenger’s nightmare – ending with an emergency landing. But are critics right to blame airline cost-cutting?

We were going to have “a perfectly normal landing”, assured the pilot of Lufthansa flight 499 from Mexico City to Frankfurt, as he prepared his wary passengers for an emergency landing in the Azores. It was anything but.

“We have smoke in the cabin,” he said. “We cannot find out the reason. We will be landing in Lajes.” We were seven hours into our 11-hour voyage across the Atlantic.

The crew went not into landing but panic mode: one, in tears, wrenched down the curtains between sections of the cabin, lest they impede an evacuation. Video screens went blank, lights out, air-conditioning off. The voice of the purser was shaking and breaking as she spluttered instructions: “Fasten your seat belts, ensure that your seats

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balloon crash couple were aspiring artists –

Category : Stocks
balloon crash couple were aspiring artists
Joe Bampton, who turned 40 a few weeks ago, and his 34 year-old Hungarian-born partner Suzanna Gyetvai, who through her professional name Zsi was registered with the online Saatchi gallery, worked at Lots Road Auctions in Chelsea, west London,
Hong Kong Grapples With Aftermath of Deadly Balloon BlastNew York Times
14 killed as hot air balloon explodes, plummets in EgyptCNN International
Egypt PM orders probe into deadly balloon crashThe News International

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Air France-KLM posts big loss

Category : Business

Air France-KLM sees losses widen in 2012 as fuel costs rise sharply, but revenues rise as its restructuring programme takes effect.

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