Latest Airlines news – Page 223
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NewsCathay retires 34 aircraft early, parks nearly half its fleet overseas
Troubled Cathay Pacific Group took a one-time HK$2.8 billion ($361 million) impairment charge relating to the early retirement of 34 aircraft, as it discloses that nearly half of its fleet are in long-term storage overseas.
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NewsCovid-19 pushes Cathay to record operating loss
Cathay Pacific Group saw its full-year passenger revenue collapse to just 2-3% of pre-pandemic levels, as it warned that its immediate outlook continues to be challenging.
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NewsDe Havilland entitled to terminate SpiceJet Dash 8 order: UK judge
Turboprop manufacturer De Havilland Aircraft of Canada was entitled to terminate a Dash 8-400 purchase agreement with Indian carrier SpiceJet after the airline stopped making payments and taking delivery of aircraft, a judge has ruled. SpiceJet originally ordered 25 of the type from Bombardier – part of a September 2017 ...
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NewsFour-ship Welsh flypast marks Wizz Air UK’s upcoming Cardiff base
Four Wizz Air UK Airbus A321s have marked the upcoming opening of a Cardiff base by conducting a flypast of cities in south Wales. The aircraft formation departed London Luton between 13:45 and 14:00 on 6 March. Wizz Air UK says that, ahead of the base’s opening on 17 May, ...
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NewsStart-up Flyr outlines expansion plans after securing ramp-up funding
Norwegian start-up Flyr intends to establish an employment ratio comparable to low-cost airlines within Europe, aiming for a figure of 36 employees per aircraft within five years. Flyr claims this will bring it into line with the level of Ryanair and below that of EasyJet and Wizz Air. The company ...
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NewsFleet, staff cuts loom at struggling Thai Airways
Embattled Thai Airways has outlined ambitious plans for a post-restructuring future, including simplifying its fleet structure and cutting the number of staff.
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NewsCzech Airlines insolvency petition outlines scale of financial burden
Czech Airlines’ insolvency petition sets out the scale of the company’s financial problems, which it partly attributes to the inability to source rescue funding from the Czech government. The company has 266 creditors, with the total liability to suppliers amounting to Kc809 million ($37.1 million) as of 25 February, its ...
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AnalysisThai Airways due to submit rehabilitation plan
Thai Airways International’s rehabilitation planners are expected to submit a plan on 2 March to Thailand’s Central Bankruptcy Court outlining how they propose the airline should be restructured.
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NewsSilkAir and SIA appoint Skytech-AIC to remarket seven 737-800s
Singapore’s SilkAir and Singapore Airlines have appointed Skytech-AIC to market for outright sale seven Boeing 737-800s.
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NewsAirAsia Group details $40m assistance to Philippines AirAsia
AirAsia Group has disclosed that it extended approximately $40 million in advances and corporate guarantees to Philippines AirAsia in November-December.
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NewsAirlines slashed cash burn in fourth quarter: IATA
Carriers minimised their losses in the last quarter of 2020 through dramatic cuts to fixed costs, according to research from IATA.
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NewsSaudia eyes 70-jet acquisition including 777s and A321s: Saudi outlet
Saudi Arabian flag-carrier Saudia is intending to acquire up to 70 aircraft including long-haul Boeing and single-aisle Airbus jets, according to local financial publication Maaal. The Saudi outlet, citing its own sources, claims Saudia is looking to purchase Boeing 777s and 787s as well as Airbus A321s. Saudia had previously ...
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NewsAirAsia X continues loss-making streak amid grounding, restructuring
Beleaguered AirAsia X stayed in the red at the operational level, despite narrowing its losses on a quarter-to-quarter basis.
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NewsPobeda to open second Moscow base with flights from Sheremetyevo
Russian budget carrier Pobeda is to open services from a second Moscow base, operating from the capital’s Sheremetyevo airport. Pobeda is part of Aeroflot Group alongside Aeroflot and Rossiya. Moscow Sheremetyevo is Aeroflot’s main base. The expansion will involve Pobeda’s opening services to 12 cities in Russia, as well as ...
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NewsCzech Airlines files for reorganisation
Czech Airlines (CSA) has filed for reorganisation under insolvency regulations as “the last option to save the company” unless it receives government financial support.
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NewsTexan aviation investment group MDI acquires three Austrian 767s
Lufthansa Group carrier Austrian Airlines has agreed to sell three of its Boeing 767-300ERs to a US company, Texas-based MonoCoque Diversified Interests. Austrian says the first of the 767s will be transferred at the beginning of March with a second to be handed over in May. The carrier had disclosed ...
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NewsNorwegian posts $2.7bn annual loss
Norwegian made a net loss of NKr23 billion ($2.7 billion) in 2020, dramatically deepening one of NKr1.61 billion in 2019, as its long-haul low-cost business model was devastated by the Covid-19 pandemic.
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NewsItalian ministers to discuss Alitalia successor with EU
Italian government ministers are set to meet with European Commission representatives to discuss plans to establish a new national carrier. The airline, which has initially been branded ITA, is emerging from the restructuring of troubled flag-carrier Alitalia. “We evaluated the possibility of continuing the ITA project and expressed the desire ...
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NewsIAG to operate 20% of capacity in first quarter after tumbling to €7.4bn loss
British Airways and Iberia parent IAG expects to operate just a fifth of its 2019 capacity in the first quarter after disclosing it swung to a €7.43 billion ($9.1 billion) operating loss last year. IAG posted a €1.47 billion loss for the fourth quarter, a period in which it operated ...
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NewsColombian civil aviation chief to head ICAO
Colombia’s Juan Carlos Salazar has been named as the new Secretary General of the International Civil Aviation Organization (ICAO).