International Airlines Group (IAG) reported a whopping pre-tax loss of €997m (£864.17m) for 2012 after taking a €343m (£297.3m) impairment charge on Iberia, its troubled Spanish subsidiary. The troubled airline group is also going ahead with its planned 3,800 job cuts under a restructuring plan to revive its loss-making unit Iberia. The turnaround plan is being vehemently opposed by workforce and trade unions due to massive amount of job cuts….

BAE Systems is all set to cut as many as 3,500 jobs from its US shipbuilding business as Pentagon spending cuts threaten maintenance work on navy vessels. The BAE Systems’ job cuts will focus on four locations, with about 70% of US staff involved in ship repair work losing their jobs. Facilities in Norfolk, Virginia and San Diego, California would be hit most severely, with job cuts also possible in Hawaii…

David Cameron’s Indian visit has landed Britain’s defence giant BAE Systems with £125m deal of supplying 12 Hawk training jets to Indian military, guaranteeing the future of Red Arrows, which was speculated to be scrapped as part of defence cuts. David Cameron vowed that the much-loved RAF display team would be protected even if he orders fresh cuts. The Red Arrows deal could mean a boost for BAE System’s jobs…

American Airlines-US Airways merger deal has many implications apart from the formation of the world’s biggest airline. The $11bn (£7bn) merger will bring American Airlines closer in value to rivals Delta Airlines and United Airlines. But the American Airlines-US Airways merger is likely to give rise to certain negative repercussions which are a cause of concern.

Rolls Royce has bagged a £800m government contract with the Royal Navy, securing 2,000 jobs. Rolls Royce  Submarines in Derbyshire won the contract which is aimed at delivering and supporting the UK’s nuclear fleet. The Rolls-Royce contract with Ministry of Defence (MoD) will support propulsion systems on Britain’s fleet of nuclear submarines, while saving the government £200m over a course of the ten-year contract period. The Derby-based group employs 21,000 people in the UK and…

BAE Systems is on a recruitment spree and is about to hire 400 apprentices this year, which is its highest number of hiring since the financial crash. All the 400 apprentices have guaranteed job at the end of a three-year scheme and around 10% will go on to join the five-year, degree-equivalent programme, free from tuition fees. This year’s BAE System’s apprenticeship recruitment will see hiring in submarine-building, shipbuilding and military aircraft…

Thomas Cook reported strong sales in the UK in the latest quarter, as Brits booked their summer holidays despite the downturn, but all is not well in Britain’s second largest travel company as investors voiced their concerns over chief executive Harriet Green’s pay. Shareholders have raised objections to the huge pay packages of the chief executive and other directors of Thomas Cook, given the loss-making group’s current plight. In Thomas Cook’s annual…

Flybe has agreed to the €100m (£85.8m) Ryanair’s proposal to operate around 43 of Aer Lingus short-haul routes out of Ireland. The loss-making British airline will team up with Ryanair to create Flybe Ireland, on condition that the Ryanair-Aer Lingus bid gains regulatory approval. Flybe has confirmed that it would pay Ryanair €1m (£866,000) for the newly created airline. The Ryanair-Flybe deal would see Ryanair transfer at least 43 European routes, nine Airbus A320 aircraft…

Ryanair-Aer Lingus takeover bid has taken a new turn with Ryanair offering €100m (£85.8m) to Flybe airline to operate around 43 of Aer Lingus short-haul routes out of Ireland, in an effort to gain regulatory approval from the European Commission to buy out the Irish carrier. Flybe has confirmed that Ryanair has also offered as many as 10 aircrafts to one of Flybe’s subsidiary, in case the Ryanair-Aer Lingus bid…

Japan’s two chief airlines have grounded their Boeing 787 Dreamliners after one was compelled to make an emergency landing because of battery problems. Despite the grounding of Boeing 787 Dreamliners, Australia’s Qantas Airways has maintained that its order for 15 Dreamliners will remain in progress. Qantas decision comes after All Nippon Airways (ANA) grounded its convoy of 17 Dreamliners after its flight NH 692 from Yamaguchi Ube was compelled to land shortly after takeoff. Japan Airlines (JA)…