All news – Page 1230
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NewsNetJets cuts aircraft deliveries and workforce amid coronavirus crisis
NetJets has more than halved the number of business jets it expects to receive in 2020, as demand for travel plummets on the back of the coronavirus pandemic. The firm has also the cut employee numbers at both its European fractional ownership operation and US-based Executive Jet Management (EJM) subsidiary by a quarter due to the weak operating environment.
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AnalysisMeet the latest weapons in the war on wildfires
As the northern hemisphere wildfire season takes hold, agencies have an array of new and improved aerial firefighting aircraft to choose from. However, despite recent devastating blazes, is the public sector still reluctant to make the necessary investments in new-generation equipment?
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NewsAir Canada expects recovery to take three years
Air Canada incurred a C$1.05 billion ($744 million) net loss in the first quarter of 2020, compared with a C$285 million net profit a year ago, and is warning that it will take “at least three years” for revenue and capacity levels to return to those seen in 2019.
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In depthAirline crews bring first-class service to frontline healthcare workers
Exhausted frontline healthcare workers are able to relax in airport-style first-class lounges in their workplace thanks to the efforts of two airline pilots.The initiative, Project Wingman, is the brainchild of David Fielding and Emma Henderson – who fly for British Airways and easyJet respectively – and clinical psychologist Professor Robert Bor.
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NewsNorwegian shareholders approve survival plan
Norwegian’s shareholders have voted in favour of its plan to convert debt to equity and relaunch operations with a smaller fleet and fewer destinations from 2021. The airline should now be able to access the rest of its NKr3 billion ($288 million) bailout package from Norway’s government, which is conditional ...
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NewsTransatlantic traffic keeps Biggin Hill’s head above water
Wealthy passengers on private jets might not spring to mind when we think of essential travel during coronavirus lockdown. However at one of London’s busiest business aviation airports, Biggin Hill, international flights continue to land and take-off daily, although traffic is down 70% year-on-year.
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InterviewLeading aerial firefighter blazes a trail into (and out of) hell
Lisa Allen, a leadplane pilot for the US Department of the Interior’s Bureau of Land Management National Aviation Office, has 22 years of firefighting experience on the ground, including as a smoke jumper, and in the air as a pilot. She flies a Beechcraft Super King Air 200, and has more than 2,000h total flight time
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NewsFlybe administrators work to sell aircraft support operations
Administrators of collapsed UK regional carrier Flybe are finalising the sale of its aircraft support operation, Flybe Aviation Services, which has continued to trade. The EY administrators, in a statement of proposals, say they are aiming to complete the transaction “in the coming days” after receiving offers for the division. ...
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NewsGermany’s Airbus suppliers ‘face ruin’, warns trade association
BDLI says that unless at least 50% of pre-crisis production resumes soon, many smaller companies could go out of business
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NewsNorwegian secures bondholder and lessor support ahead of crunch vote
Norwegian expects to convert more than Nkr10 billion in debt to equity after reaching agreement with more lessors and bondholders, clearing the path to unlocking crucial further state aid.
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NewsHainan optimistic of rebound amid steep Q1 loss
Hainan Airlines swung back into the red for its first-quarter results for 2020, joining other Chinese carriers who reported losses amid the coronavirus outbreak. However, the carrier, China’s fourth largest, is optimistic its financial results will improve in the second quarter, as it “adjusts its business strategy” and cuts ...
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NewsIcelandair Group reduces cash drain as it faces $200m first-quarter loss
Icelandair Group is expecting employee cuts to reduce its cash outflow by $12 million per month over the next three months, taking into account measures by the government to pay partial salaries. The company is expecting to reveal a first-quarter loss of $208 million when it details its performance for ...
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NewsJuneyao Air slips into first-quarter loss
China’s Juneyao Air swung to a loss in the first quarter of this year and expects further losses for the remaining first half of 2020 as the coronavirus pandemic puts a damper on demand. The Shanghai-based carrier posted a net loss of over CNY491 million ($69.5 million) in the first ...
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NewsVirgin Australia targets end-June sale: administrator
Twenty parties are interested in recapitalising Virgin Australia, administrator Deloitte said after the first creditors meeting held virtually on 30 April, and the airline aims to receive binding offers in June. “A large number of parties have expressed an interest, eight have signed non-disclosure agreements and negotiations are continuing with ...
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NewsNorthrop to prototype communications gateway for fifth-generation fighters
Northrop Grumman will develop the prototype of a new system that enables improved communications among diverse platforms. The company labels the system gatewayOne, and is undertaking the work under the US Air Force’s (USAF’s) Advanced Battle Management System (ABMS) effort, following a contract with the service’s Life Cycle Management Center. ...
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NewsWarren Buffett’s investment firm sells out of four major US carriers
Renowned investor Warren Buffett has dumped his stakes in four major US carriers, four years after joking that his firm Berkshire Hathaway was set to benefit from airlines’ tendency to increase fares ahead of its shareholder events. Buffett disclosed the decision to shareholders during Berkshire Hathaway’s 2020 event on 2 ...
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NewsOpposition heaps scorn on detail-light plan for SAA transformation
South Africa’s political opposition is insisting the government detail an agreement with South African Airways unions setting out plans to establish a successor to the crumbling flag-carrier. In a response accusing the department of public enterprises of undermining SAA’s business rescue practitioners, the Democratic Alliance says it will seek a ...
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NewsBoeing clinches $25 billion in milestone capital raise
Boeing is raising $25 billion in a multi-tranche bond offering, as it buffers liquidity amid an air travel downturn that could take years from which to recover. In March, as the pandemic shut down air travel globally, Boeing had suggested that the broader US aerospace and manufacturing sector might require ...
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NewsSpirit lays off another 1,450 staff due to airframer production cuts
Spirit AeroSystems will lay off more than 1,450 additional staffers in response to Boeing’s and Airbus’ plans to reduce commercial aircraft production rates.
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NewsAeroVironment wins $76 million contract for Switchblade loitering munitions
AeroVironment has won a $76 million contract to supply an undisclosed quantity of Switchblade loitering munitions to the US Army and US Marine Corps.