More than a day after a brand-new Boeing 737 Max jet flown by Lion Air plunged into the Java Sea, the search for the plane failed to yield much as investigators continued the grim task of uncovering the cause of the deadly crash. Indonesia’s NTSB said Tuesday that it’s scouring the likely location where the aircraft fell and sifting through debris to find the flight-data and cockpit-voice recorders documenting the aircraft’s final moments. The divers have yet to locate the fuselage or the tail and the agency said it plans to widen the search area to a 15-nautical miles radius from Wednesday. The accident is the first for Boeing’s most-advanced 737, which began flying for airlines last year, and is the worst commercial aviation disaster in 3 years. <br/>
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Norwegian Air, which is in talks with an unnamed partner on a fleet joint venture, plans to provide an update on the deal before the end of the year and has "many interested parties", its CFO said. "The aim is to find a partner that can take a bit of equity. Norwegian doesn't necessarily have to be a majority shareholder in that JV," Geir Karlsen said Tuesday. Shares in Norwegian surged last week after it confirmed that it was in advanced talks with an unnamed partner on a deal to create a new partnership to fund aircraft it has on order, a deal which would help free up cash. "Hopefully we will be able to come to the market with more news on that transaction, structure, before the new year." The potential JV deal for up to 140 planes it has on order with Airbus and Boeing could help raise US$960m for Norwegian according to reports. <br/>
WestJet overcame rising fuel prices and other headwinds to post a Q3 net profit of C$45.9m (US$35m), down 66.3% from the $135.9m reported in the year-ago quarter. The carrier has faced “downward pressure from the dramatic increases in fuel price and competitive capacity, along with the lingering impact of the threat of industrial action,” CE Ed Sims said. The airline’s fuel costs rose 44.2% year-over-year, largely the result of a 37.1% increase in per-liter costs. On the labour side, WestJet pilots, represented by ALPA, threatened to strike in May, resulting in lost bookings, according to the airline. The contentious negotiations and increased fuel prices contributed to a Q2 net income loss of $20.8m, the airline said. The airline’s total Q3 revenue increased 3.8% YOY to $1.3b. <br/>