All Europe articles – Page 359
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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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NewsFlybe administrators fight to retain carrier’s operating licence
UK regional carrier Flybe’s administrators intend to appeal to the government in a bid to retain the airline’s operating licence, warning that a sale of the business would become improbable if the licence is revoked. Flybe ceased operations on 5 March and voluntarily suspended its operating and maintenance licences. The ...
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NewsTalks continue as Norwegian fails to get bondholder majority for debt conversion plan
Norwegian is holding “constructive dialogue” with bondholders over whether a majority in favour of its debt-to-equity conversion plan can be reached, after it was rejected in an initial vote on the proposal.
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Airline BusinessHow will crisis impact airline mergers?
Airlines and regulators are having to adjust to a fast-changing landscape as they consider merger and acquisition plans, both those put in play before the coronavirus crisis hit and those that might emerge in its aftermath.
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NewsLufthansa aims for autumn restart ‘at the earliest’
Lufthansa Group will remain grounded throughout the summer and does not expect a new market “balance” to be found until 2023, chief executive Carsten Spohr will tell the company’s annual general meeting on 5 May, in a speech pre-released on its website.
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NewsIcelandair Group seeks to raise $200m through new shares
Icelandair Group is planning to issue up 30 billion new shares to support its financial position, with the aim of raising up to $200 million in equity. The company has about 5.4 billion shares in issue, giving it a market capitalisation of around IcKr12.9 billion ($88.6 million). Icelandair Group has ...
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NewsIAG’s Spanish carriers secure €1bn in financing under state-backed loans
IAG’s Spanish units Iberia and Vueling have secured financing for €750 million and €260 million respectively under a syndicated agreement which will be guaranteed by the state-owned bank Instituto de Credito Oficial (ICO).
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NewsRyanair signals 3,000 job cuts as it discusses fleet deferrals
Ryanair is expecting to cut up to 3,000 jobs from July and shut a number of European bases, as it projects that a post-crisis recovery will take at least two years. The airline is negotiating with Boeing to reduce planned deliveries of new 737s for the next 24 months, and ...
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NewsA220 operators advised to monitor compressor over stall risk
Carriers using Airbus A220s are being advised to monitor the operating performance of low-pressure compressors, to warn of stalls, following measures to address engine failures on the type. A220s are fitted with Pratt & Whitney PW1500G powerplants, which have been the subject of scrutiny following a series of engine failures ...
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AnalysisWhy Rolls-Royce is still powering ahead with hybrid-electric development
Despite the cancellation of the E-Fan X demonstrator it was developing with Airbus, Rolls-Royce believes hybrid-electric power can drive cleaner regional aviation in the future.
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NewsA350s become freighters through Airbus pallet-for-seat swap
Airbus is offering carriers a modification and regulatory support scheme to convert passenger A350s, A330s and A340s temporarily into main-deck freighters by swapping out seats and fitting pallets onto their floor tracks. Modification is provided to operators under an Airbus service bulletin which sets out not just the engineering work ...
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NewsStick-shaker ambiguity led to unnecessary 747 stall-recovery action
Boeing is amending Boeing 747-400 flight manuals to clarify unreliable airspeed procedures after a British Airways crew erroneously believed a stall warning was genuine and repeatedly attempted a stall recovery manoeuvre. The aircraft (G-BNLN) had reached top-of-climb at 33,000ft, during a transatlantic service to Phoenix from London Heathrow on 9 ...
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NewsTransport ministers make voucher case for struggling European airline sector
Debate continues around whether airlines should be allowed to issue vouchers instead of cash refunds for flights cancelled due to coronavirus after a group of European transport ministers called for a temporary relaxation in compensation rules.
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NewsFrench government sets green conditions for Air France bailout
Air France must slash domestic flights and agree to work towards becoming the world’s “most environmentally friendly” airline, if it is to satisfy the conditions of its government bailout.
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NewsSafran expects to build 1,000 CFM Leap engines this year
French aerospace specialist Safran is expecting to manufacture around 1,000 CFM International Leap engines this year, having delivered 40% fewer civil powerplants over the first quarter. It says it handed over 326 engines from the CFM56 and Leap range in the three-month period. These included 272 Leap engines, down 35%. ...
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NewsHeathrow chief sees biosecurity standards key to air travel recovery
London Heathrow Airport chief executive John Holland-Kaye believes introducing common rules around biosecurity standards will be key to restoring confidence in and fuelling the recovery of air travel.
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NewsEU eases airline licensing and ground-handling rules
European authorities are putting forward proposals to ease airline licensing rules and ground-handling firms’ regulatory burdens, with the intention of reducing costs during the coronavirus crisis. Airlines which are unable to meet financial obligations over the next 12 months would normally have their operating licences revoked, or be issued with ...
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NewsBritish Airways mass redundancies reflect pared-back ‘new normal’
British Airways‘ drastic announcement that it could cut up to 12,000 jobs is the latest suggestion that normality in the airline industry is a thing of the past and efforts should turn instead to preparing for a slimmed-down ’new normal’ once travel restrictions begin to lift.
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NewsGermany’s DRA hints at alternative power for revived Dornier 328
Fledgling airframer Deutsche Regional Aircraft (DRA) has rebranded its proposed revival of the Dornier 328 twin-turboprop as the “D328eco” and hired a former Airbus specialist in alternative propulsion as its chief technology officer.
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NewsAirbus rekindles support from export credit agencies
Airbus believes the support of export credit agencies will be important to assist the funding of deliveries to customers during the air transport crisis. But the airframer is not intending to extend financing itself, unless particular circumstances warrant such a measure. Airbus chief financial officer Domink Asam, speaking on 29 ...