Europe – Page 344
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NewsLufthansa Group takes fleet impairment of €300m in first half
Lufthansa Group took an impairment charge of nearly €570 million over the first half, including €300 million relating to withdrawal of aircraft. The company says the figure is connected to 65 aircraft which will be “permanently grounded”. These aircraft comprise six Airbus A380s and five Boeing 747s, plus 11 Airbus ...
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NewsLufthansa strives to restore long-haul network as it foresees 2024 recovery
Lufthansa Group is aiming to offer 50% of prior-year capacity on its long-haul network and 55% on short-haul in the fourth quarter of this year. But the German-based operator says it expects a “clearly negative” adjusted EBIT figure in the second half of the year, and therefore a “further significant ...
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NewsCroatia Airlines rejigs leases to cut costs
Croatia Airlines has postponed a long-term Airbus A319 lease, cancelled a similar Bombardier Q400 lease and dropped a CRJ1000 seasonal lease as part of measures to rein in costs over the first half. Over the second quarter the company made a loss of Kn62.7 million ($10 million), it states, despite ...
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Airline BusinessAirline coronavirus recovery tracker: August 2020 update
Our regular examination of the latest global data for several key airline market indicators, including traffic and capacity in passenger and cargo markets, airport passenger throughput, in-service and stored fleets, jet fuel costs, and share price trends for the world’s largest groups.
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NewsCreditors to vote on Virgin Atlantic restructuring plan on 25 August
Virgin Atlantic creditors will vote on the UK carrier’s restructuring plan at a meeting on 25 August after court proceedings in London yesterday.
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NewsCopenhagen airport operator proposes cutting a quarter of workforce
Copenhagen airport’s operator is considering cutting 25% of its staff in response to the air transport downturn. The Danish hub’s management company, Kobenhavns Lufthavne, has unveiled a DKr228 million ($36 million) pre-tax loss for the first half of this year, against its previous profit of DKr617 million. It is estimating ...
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NewsUS government awards sonar contract for Indian, Danish MH-60Rs
Lockheed Martin has secured a $182 million contract for airborne low frequency sonars (ALFS) related to Indian and Danish Sikorsky MH-60R anti-submarine warfare helicopters. The package covers the production, integration, and delivery of 24 sets for India, and eight for Denmark, says a US government contract announcement. In May, Sikorsky ...
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NewsVirgin Atlantic seeks bankruptcy protection in New York
UK carrier Virgin Atlantic Airways has filed for Chapter 15 bankruptcy protection in the USA, stating that it will run out of cash in September after months of attempts to cut costs, raise capital and seek UK government assistance.
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NewsJu 52 probe yields enough evidence to explain fatal Alps crash
Swiss investigators believe they have sufficient evidence to explain the accident sequence which resulted in the fatal crash of a Junkers Ju 52 during a pleasure flight in the Alps two years ago. The aircraft had entered a valley basin near Piz Segnas, entering a left turn at the northern ...
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NewsRyanair and Wizz claw back more traffic in July
July traffic figures released today show Wizz Air operated more than 70% of its planned capacity, while Europe’s biggest low-cost operator Ryanair saw its first significant return of passengers since the global pandemic began.
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NewsRussian analysts study unmanned nose-loading twinjet freighter concept
Russian researchers have started investigating a new twinjet cargo aircraft design which would be capable of operating unmanned. The concept – designated the light high-speed transport aircraft – is being analysed by Moscow’s Central Aerohydrodynamic Institute, as part of a Russian trade and industry ministry contract. Preliminary designs show the ...
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NewsAirbus eyeing interim German P-3C fleet replacement need
Airbus Defence & Space is pursuing an opportunity to provide Germany with an interim maritime patrol aircraft capability, after Berlin axed a delayed modernisation of its Lockheed P-3C Orion fleet.
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NewsUpbeat EasyJet hikes summer capacity further than forecast
UK budget carrier EasyJet is expecting to increase its flight activity to 40% of originally-planned capacity in its fiscal fourth quarter, up from the previous estimate of 30%. EasyJet, whose fourth quarter runs to 30 September, says it also expects a smaller loss than the £325 million ($425 million) headline ...
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NewsSpiceJet secures Heathrow landing slots
Indian low-cost carrier SpiceJet has secured landing slots at London Heathrow Airport, effective 1 September. The slots fall under the “bubble arrangement” between India and the UK, and are effective until 23 October, says SpiceJet. Source: SpiceJet SpiceJet’s fleet is comprised entirely of 737s and Dash-8 Q400s ...
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NewsRussian-powered MC-21 to fly before year-end and Il-114 sooner
United Aircraft is aiming to fly the first Russian-powered Irkut MC-21 before the end of this year, and the Ilyushin Il-114-300 as soon as September, the aerospace firm’s chief has informed President Vladimir Putin. The MC-21-310 variant will be fitted with Aviadvigatel PD-14 engines rather than the Pratt & Whitney ...
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NewsIAG’s Walsh warns against obtaining liquidity without structural reform
Outgoing IAG chief Willie Walsh has warned that obtaining liquidity will offer a false sense of security to airlines unless they fundamentally adapt their business to reflect a different post-crisis market. Walsh points out that British Airways’ second-quarter operating loss of £711 million eclipses that of previous crises – including ...
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NewsAir Europa acquisition remains justified: IAG’s Walsh
IAG is striving to close the acquisition of Air Europa by the end of this year, undeterred by the impact of the air transport crisis, although it is reviewing the structure of the €1 billion ($1.2 billion) deal in response to the downturn. While outgoing IAG chief Willie Walsh has ...
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NewsTUI agreement further lifts BOC Aviation's 737 Max sale-and-leases
TUI Group has carried out a sale-and-leaseback of five Boeing 737 Max jets with the Singaporean-based lessor BOC Aviation. The European holiday company values the agreement – reached with UK subsidiary TUI Travel Aviation Finance – at $226 million. TUI Group is expecting the first of the Max 8s involved ...
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NewsAir France-KLM aims to minimise fleet deferrals to keep competitiveness on track
Just six aircraft ordered by Air France-KLM have so far been pushed back to later delivery slots in the past six months, although KLM has yet to detail its full fleet plan. Air France-KLM states that its competitiveness and sustainability is closely tied to its fleet and network strategy. “Mid- ...
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NewsRussian carriers begin resuming international services
Russian operators are restarting international services after the government started clearing restoration of links with countries including Turkey, the UK and Tanzania. Aeroflot is re-opening its links from Moscow Sheremetyevo to Istanbul and London Heathrow on 1 August, both routes being served by Boeing 777s. Aeroflot’s budget sister carrier Pobeda ...