Business
Airbus trims A350 output, quarterly loss worse than expected
PARIS (Reuters) – Europe’s Airbus (AIR.PA) announced a new cut in production of its marquee A350 jet on Thursday as it swung to a larger-than-expected second-quarter loss in the face of the global pandemic.
But boosting its shares, which closed up almost 2%, the planemaker also said it hoped to avoid consuming cash in the second half of the year after a smaller-than-expected second-quarter outflow of 4.4 billion euros as deliveries tumbled due to the coronavirus crisis.
“We believe it is going to be a long and slow recovery,” Chief Executive Guillaume Faury told reporters, adding that travel was picking up but more slowly than previously expected.
The crisis has particularly affected demand for wide-body long-haul jets, which are expected to be the slowest to recover once demand returns to normal levels, which Airbus says could take until 2023 or 2025.
Airbus said it had cut wide-body A350 production to five jets a month, after dropping it to six from 9.5 in April.
The move came a day after U.S. rival Boeing (BA.N) announced further cuts in output of 787 and 777 jets, which compete with the A350 on depressed long-haul networks.
Airbus is shedding up to 15,000 jobs or 11% of its workforce to cope with the crisis, which it expects to hold output down by 40% for some two years compared with pre-crisis levels.
Spain said it had reached an agreement with Airbus to reduce job losses after a meeting between Faury and Prime Minister Pedro Sanchez
Cash objective
Airbus posted an adjusted second-quarter operating loss of 1.226 billion euros ($1.44 billion) as revenues slid 55% to 8.317 billion. Analysts saw a loss of 1.027 billion on revenues of 8.552 billion, according to a company-compiled consensus.
Losses include 900 million euros of balance sheet impairment charges related to the industry’s worst crisis and Airbus warned it could have to take further provisions of between 1.2 billion and 1.6 billion euros linked to the restructuring.
Like many companies wrestling with the economic impact of lockdowns, Airbus suspended formal forecasts earlier this year.
But in what one analyst described as “soft guidance,” Faury said it was the company’s “ambition” not to consume cash in the second half before M&A and customer financing. He declined to give a breakdown by quarter.
The crisis has been causing cash to evaporate across the aerospace sector but Airbus said its underlying outflows remained steady in the second quarter due to aggressive measures to cut costs, after stripping out a record 3.6-billion-euro bribery fine to UK, French and U.S. authorities earlier this year.
Analysts said the report on cash, a key issue for investors as companies seek to stay afloat, was better than expected.
In a separate probe, Britain’s Serious Fraud Office ordered Airbus unit GPT to appear in court on alleged corruption between 2007 and 2012 over a $3.3 billion contract to provide communications services for the Saudi National Guard.
Airbus says the case relates to “contractual arrangements” put in place before it bought the firm in 2007, but which continued afterwards. GPT ceased operations in April.
The SFO said two individuals had also been charged including a former head of GPT who was accused of taking commissions on contracts he awarded to a consultancy while employed by Britain’s defence ministry. A hearing has been set for Sept 14.
Reporting and photo: Reuters
Business
2 decades of culinary excellence: BBM’s founding legacy with Hotel Asia continues in 2025
Hotel Asia Exhibition and International Culinary Challenge is referred to be the hospitality industry event in the Maldives. In this year’s Culinary Challenge (19 to 22 October 2025) comprising competitions over 20 categories, most will take place at the Faculty of Hospitality and Tourism Studies, Maldives National University, and some at the Synthetic Track, Hulhumalé.

A Founding Partnership that Endures
Since the very first edition in 2001, Bestbuy Maldives (BBM) has played a central role in shaping the International Culinary Challenge into the Maldives’ most prestigious culinary platform. The event has become a cornerstone for professional development, bringing together chefs from across the Maldives to compete, learn, and showcase their craft.

BBM and their associated Principals sponsor an overwhelming majority of categories. “From the beginning, our goal has been to create opportunities for Maldivian chefs to rise to global standards. This partnership has grown with the industry itself,” said A.V.S. Subrahmanyam, Chief Operating Officer of BBM.

Nurturing Local Talent
BBM’s contribution extends beyond sponsorship. The company has built a long-term system for recognizing and developing local culinary talent.
- BBM Chairman’s Trophy for the Best Maldivian Competitor.
- Most Promising Young Chef Award for emerging talent.
- Global exposure programs for Maldivian chefs through sponsored participation in international events.
- Pro-bono Masterclasses with world-renowned chefs to encourage learning and innovation.
Investing in the Future of Hospitality
Through initiatives such as Building Young Talent, BBM continues to mentor aspiring professionals and support the next generation of chefs. The company also promotes inclusivity by sponsoring opportunities for female and young chefs to gain international exposure.
BBM’s industry partnerships include its role as Title Sponsor of the Hotelier Maldives Awards, celebrating excellence across the Maldivian hospitality sector.

Proud Sponsors of Culinary Excellence
In 2025, BBM and its partner brands proudly sponsor 14 competition categories and 8 Main Awards, further strengthening their role in the development of culinary arts in the Maldives. Categories include Decorated Cake, Artistic Showpiece, Bread and Pastry Display, Three Desserts (Display), Desserts, Rice Dish, Asian Noodles, Team Challenge, Maldivian Dish, Creative Sandwich, Young Chef, Tea Challenge, tapas/finger food, and Iced Mocktail.
Business
Bestbuy Maldives, MNU forge partnership to advance hospitality education
The Maldives National University – Faculty of Hospitality and Tourism Studies (MNU-FHTS) and Bestbuy Maldives (BBM) have officially signed a Memorandum of Understanding (MoU) to strengthen industry-academic collaboration and advance hospitality education in the Maldives.
The MoU was signed by Dr Aishath Shehenaz Adam, Vice Chancellor of MNU, and Ismail Hilmy, Chairman and Managing Director of BBM, during a ceremony attended by the university’s Chancellor Dr Mahmood Shaugee, senior management, and representatives from both organisations.
This partnership marks a significant milestone in developing a state-of-the-art Food and Beverage Practical Demonstration Kitchen at MNU-FHTS. BBM will support the upgrading of the existing Garde Manger kitchen and classrooms, contributing financially and materially to create a modern, industry-standard learning environment for future hospitality professionals.
Beyond infrastructure, the collaboration will extend to academic and training support, research and innovation in culinary arts, community engagement, and professional networking opportunities, ensuring that students gain practical, real-world experience aligned with industry expectations.
Highlighting the broader purpose of this partnership, BBM stated that, “This is a significant step in the direction of BBM’s vision involving hospitality industry outreach in the Maldives — because tomorrows start today. Initially, we will set up a world-class model kitchen that will be suitable for masterclasses and hands-on training for students; and also for product demonstrations, masterclasses, and interaction with groups of customers.”
Speaking at the ceremony, representatives from both institutions emphasised their shared vision to promote excellence in education, innovation, and human capital development in the Maldivian hospitality sector. This partnership underscores BBM’s continued commitment to supporting education and industry growth, and MNU-FHTS’s mission to bridge the gap between academia and industry — nurturing the next generation of hospitality leaders in the Maldives.
Business
SATA 2025 announces partnerships; confirms Hotelier Maldives, Maldives Insider as Media Partners
Hotelier Maldives and Maldives Insider have been confirmed as official Media Partners of the South Asian Travel Awards (SATA) 2025. The announcement was made during a signing ceremony held at Hulhulé Island Hotel, Maldives, where SATA unveiled its distinguished partners for the 9th edition of the annual awards.
Now in its ninth year, SATA has become a key platform for recognising excellence in South Asia’s tourism and hospitality sector. The partnership with Hotelier Maldives and Maldives Insider will strengthen the awards’ regional visibility and ensure extensive coverage of the event across Maldives and beyond.

This year’s awards ceremony will take place from 19th to 20th September 2025 at Cinnamon Grand Colombo, Sri Lanka, bringing together industry leaders, stakeholders, and innovators from across South Asia.
In addition to the media partnership, SATA 2025 also announced its corporate partners. Honda Marine has been named the Platinum Partner, while The Hawks, Velana International Airport, and Allied Insurance Company of the Maldives join as Gold Partners. Renaatus Realty has been confirmed as the Silver Partner, and Hulhulé Island Hotel continues as the official Hospitality Partner in the Maldives.

Speaking at the ceremony, SATA organisers noted that the strong lineup of partners reflects the growing importance of collaboration within the tourism and hospitality industry. With the support of its partners, SATA 2025 aims not only to celebrate outstanding achievements but also to foster long-term cooperation and sustainable growth in the region’s tourism sector.
The awards are endorsed by leading national tourism bodies and associations across South Asia, including the Sri Lanka Tourism Development Authority, Nepal Tourism Board, Visit Maldives Corporation Limited, and several travel and hotel associations across the region.

This year’s evaluation process was conducted by a panel of nine jury members representing different countries, including tourism leaders from India, Sri Lanka, Bangladesh, Nepal, Bhutan, Spain, and the Maldives.
Through partnerships with media outlets such as Hotelier Maldives and Maldives Insider, SATA 2025 will ensure broad engagement across key markets, strengthening its position as one of South Asia’s most prestigious hospitality and travel award platforms.
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