All Europe articles – Page 360
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NewsAirbus staying prepared for aggressive single-aisle rebound
Airbus is expecting the single-aisle market to recover faster than the long-haul sector, but the airframer is stressing that the pattern of deliveries is the most difficult part of its business to forecast. It has not offered any guidance in its newly-issued first-quarter financial statement. Airbus chief executive Guillaume Faury, ...
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NewsFinnair to launch €500m rights offering as coronavirus losses mount
Finnair is to launch a €500 million ($542 million) rights offering to rebuild its equity after disclosing it expects to lose around €2 million a day during the second quarter.
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NewsAirbus not expecting to review production levels before mid-year
Airbus is not expecting to review the cuts to its aircraft production rates until around mid-year, when the second-quarter impact of the air transport crisis becomes clearer. The manufacturer has made deep cuts to the output from its A320, A330 and A350 lines. Chief executive Guillaume Faury, speaking during a ...
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NewsAirbus concentrates on cash preservation as crisis starts to bite
Airbus’s first-quarter earnings in the commercial aircraft sector have fallen by more than 80% under the impact of fewer deliveries arising from the coronavirus crisis. The ariframer says it is maintaining a “strong focus” on cash containment after its “solid” start to the year rapidly deteriorated as the pandemic evolved. ...
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NewsEurocontrol scenarios illustrate need for co-ordinated recovery
Pan-European air navigation organisation Eurocontrol has underlined the importance of a co-ordinated approach to operational procedures and lifting of national restrictions during recovery from the coronavirus crisis. It has illustrated the potential difference between scenarios based on co-ordinated measures — which Eurocontrol estimates would result in the loss of 45% ...
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NewsBritish Airways considers axing 12,000 jobs as parent unveils huge losses
British Airways is proposing a restructuring programme which, it warns, could result in up to 12,000 redundancies. The IAG-owned carrier states that it has notified its trade unions about the measure and – while it remains subject to consultation – the proposal is likely to affect “most” of the UK ...
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NewsIcelandair cuts staff and salaries to survive
Icelandair is axing 2,000 staff and imposing reduced working hours and wage cuts on its remaining employees as it looks to shore up its finances.
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NewsSaab AESA trial offers Gripen C/D users new upgrade path
Saab has begun promoting an active electronically scanned array antenna for its PS-05/A fighter radar, offering an upgrade option for operators of its Gripen C/D, and other legacy types.
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NewsSAS initiates work on cutting up to 5,000 jobs
Scandinavian carrier SAS has begun work on cutting up to 5,000 full-time positions from its future workforce as it warns it is likely to take “some years” before air travel demand returns to pre-crisis levels. SAS will hold talks with unions over the proposed cuts, which will apply to staff ...
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NewsSwiss to modify 777s for cargo-only flights
Swiss intends to reconfigure three Boeing 777s as cargo aircraft under a plan to operate more than 100 freight services to Asia and North America by the end of May. The Lufthansa Group carrier says it will establish “a new network of cargo-only services” to operate up to three daily ...
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NewsAirbus furloughs over 3,000 UK wing-plant personnel
Airbus’s UK division is to furlough some 3,200 personnel at its wing-production plant in Broughton as part of measures to cope with the coronavirus crisis. The staggered furloughs – which will start over the next three weeks, and last for three weeks – affect the majority of production and production ...
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NewsEquator Aircraft developing all-electric seaplane family
Norwegian start-up Equator Aircraft is developing a small family of all-electric amphibians to provide what it describes as a ”sustainable alternative to the noisy and costly types” now serving the owner-flyer and commercial passenger transport markets.
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NewsNorwegian sets out survival plan and sounds warning on cash
Norwegian will run out of cash by mid-May if it does not secure the remainder of its state aid package, the Scandinavian budget carrier has warned in a report to bondholders which lays out plans for a “new Norwegian” that will not start to take off until 2021.
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NewsStobart agrees to buy back regional unit and aircraft lessor
Stobart Group has agreed with the administrators of Connect Airways to buy back Irish regional carrier Stobart Air and aircraft lessor Propius in a deal aimed at handling outstanding financial commitments.
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NewsEstonia makes merger a condition of Nordica capital increase
Estonia’s government is to increase the share capital of local carrier Nordica by €30 million ($33 million) to help the airline through the coronavirus crisis – an investment which is conditional on the merger of Estonian aviation assets.
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NewsCondor secures future as €550 million German state loan granted
European Commission regulators have approved a €550 million ($595 million) loan from the German state to help struggling leisure carrier Condor through the coronavirus crisis.
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NewsAir France-KLM Group carriers secure Franco-Dutch financial package
Air France-KLM Group has secured government funding to help the operator cope with the impact of the coronavirus crisis. The group had previously warned that, despite measures to preserve liquidity, it would need a capital injection in the third quarter of this year. It has negotiated a French state-backed loan ...
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NewsAirbus and Rolls-Royce cancel E-Fan X hybrid-electric RJ100 experiment
Airbus and Rolls-Royce have axed the E-Fan X demonstrator programme, a year before the experimental hybrid-electric engine airliner was supposed to fly. The E-Fan X programme was launched to explore electric aviation and involved equipping a BAE Systems Avro RJ100 with a hybrid engine. But Airbus chief technology officer Grazia ...
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NewsIcelandair converting 767s for Chinese medical supply flights
Icelandair Group is to reconfigure three Boeing 767s to transport cargo after reaching an agreement to operate freight flights between China and Germany. It has entered a pact with German firm DB Schenker, which is owned by rail company Deutsche Bahn. Icelandair Group says the 767s will have their passenger ...
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NewsJet2 expects £109m coronavirus hit and cancels 12 aircraft leases
UK leisure carrier Jet2 expects to take a £109 million ($135 million) hit from suspending operations during the coronavirus pandemic, and has cancelled plans to lease 12 aircraft for the summer season. The airline’s parent company, Dart Group, says in a disclosure to the London Stock Exchange that “due to ...