Latest Airlines news – Page 246
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NewsCathay to park 40% of fleet in long-term storage overseas
Beleaguered Cathay Pacific will move about 40% of its fleet to long-term storage locations overseas, as it adjusts downwards its forecasted capacity for the coming months. In its monthly traffic results for August, Cathay confirms that it is parking a significant number of aircraft overseas, given that it “will be ...
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NewsEl Al prepares to embark on crucial funding exercise
El Al has outlined its operational position to potential investors ahead of publishing a formal offer to acquire shares in the Israeli airline as part of a 505 million shekel ($145 million) issue. The airline is planning to commence the offering on 16 September, part of a recapitalisation which will ...
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NewsTaiwan’s Starlux orders eight A330neos
Starlux Airlines is set to become Taiwan’s first Airbus A330neo operator, after the carrier ordered eight examples of the widebody. Airbus, announcing the order on its social media channels, states that the eight widebodies will be leased from Air Lease Corporation. Source: Airbus Starlux Airlines ...
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NewsEuropean airline bailouts hit €26.6 billion: HSBC
European governments have provided the continent’s airlines with nearly €26.6 billion ($31.5 billion) in assistance throughout the coronavirus crisis, underlining the value regulators place on the connectivity carriers provide, according to a report from HSBC.
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NewsJin Air to modify one 777-200ER for cargo-only operations
South Korea’s Jin Air is scheduled to remodel one Boeing 777-200ER passenger aircraft for cargo-only operations. The modifications are due to take place in October and will increase the aircraft’s cargo capacity by 10t to 25t. Source: FlightGlobal file photo Jin Air will modify one Boeing 777-200ER to ...
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NewsIAG dials back capacity outlook as recovery falters
IAG has pulled back its capacity planning for this year and next, after the initial encouraging signs of booking recovery in the air transport crisis started to level off. It is expecting third-quarter capacity to be 78%, rather than 74%, down on last year’s figure, while the fourth quarter will ...
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NewsAir NZ extends 777 grounding to September 2021, or beyond
Air New Zealand will ground its Boeing 777 fleet for nearly one more year, as it notes that recovery from the coronavirus pandemic will be “slower than initially thought.” Instead of resuming 777 operations at the end of the year, the carrier says it will store the aircraft “until at ...
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NewsBerlin’s new airport needs €300m in additional funding
Less than two months before the new Berlin Brandenburg International airport is scheduled to open after years of delays, the airport’s operator Flughafen Berlin-Brandenburg (FBB) will need an additional €300 million ($354 million) if it is to remain solvent on its opening day.
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NewsIATA expects air cargo recovery to strengthen
Demand for air cargo has rebounded sharply since national lockdowns have eased with strong growth expected for the remainder of 2020, according to IATA. Calling air cargo demand “one of the few bright spots” in the global airline sector, IATA chief economist Brian Pearce said during a press briefing today ...
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NewsKorean Air starts cargo operations with converted 777-300ER
Korean Air has began cargo operations with a freight-optimised Boeing 777-300ER, after it received regulatory approval to modify the popular widebody. The aircraft, registered HL8208, operated its first cargo flight on 8 September, from Seoul Incheon to Columbus, Ohio in the USA. Source: Greg Waldron Korean ...
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NewsMandarin Airlines confirms E190 retirement
Mandarin Airlines has confirmed that it will be retiring its Embraer E190s over the next three years, but remains coy about what will replace the regional jets. The China Airlines subsidiary confirms with FlightGlobal that it will phase out its fleet of six E190s — all of which are ...
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NewsChina Eastern unit OTT Airlines seeks regulatory approval
OTT Airlines, the newly-launched subsidiary of China Eastern Airlines, has applied to the Civil Aviation Administration of China (CAAC) for regulatory approval to commence operations. The CAAC discloses that OTT was established with registered capital of CNY1.5 billion ($219 million) and is solely funded by China Eastern. Source: ...
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NewsBOC Aviation sues AirAsia X over $23 million of lease debts
Singapore-based lessor BOC Aviation has filed a claim in a London court against AirAsia X for nearly $23 million due, pertaining to the lease of four aircraft. AirAsia X and its indirect wholly-owned subsidiary AAX Leasing Two received on 25 August a letter dated 19 August from the lessor, the ...
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NewsState to be inactive El Al shareholder after rights issue
Israel’s government does not intend to exercise the voting rights of shares in El Al which it plans to acquire as part of a refinancing of the troubled flag-carrier. The ministry of finance, in a 4 September communication to the carrier, has detailed its role in a share issue to ...
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NewsUAE start-up Wizz Air Abu Dhabi receives first aircraft
Wizz Air’s new Abu Dhabi division has received its first aircraft, an Airbus A321neo registered in the United Arab Emirates. The aircraft (A6-WZB), fitted with Pratt & Whitney PW1100G engines, was originally ordered by Wizz Air but underwent a sale-and-leaseback through Singapore’s BOC Aviation. It carries a livery similar to ...
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NewsVirgin Australia creditors give green light for Bain sale
Virgin Australia’s creditors have approved the sale of the carrier to US private equity group Bain Capital, with the full transfer of ownership expected to complete by end October. At the second creditors’ meeting on 4 September, the carrier’s creditors voted in favour of Bain’s proposal, which will see unsecured ...
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NewsInvestment consortium aims to restart Comair in December
South African carrier Comair’s business rescue plan envisages a consortium of investors taking a 99% shareholding in the company, and restarting services around 1 December. Some 1,800 jobs will be retained – although 400 will be shed – and the airline will resume operations with a fleet of 25 aircraft. ...
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NewsKorean Air approved to convert 777-300ER for cargo operations
Korean Air has received approval from the Ministry of Land, Infrastructure and Transport (MOLIT) to remodel a Boeing 777-300ER passenger aircraft for cargo operations. This is the first such approval it has received, the airline tells Cirium, and it plans to convert one more 777-300ER, having based its decision on ...
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NewsAir New Zealand’s chief commercial officer Cam Wallace resigns
Cam Wallace has resigned as Air New Zealand’s chief commercial and customer officer after 19 years with the organisation. He will leave at the end of September and will provide consultancy support to chief executive Greg Foran until the end of 2020, the carrier announced today. Source: Air ...
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NewsInvestor seeks joint control of El Al with main shareholder Knafaim
Israeli flag-carrier El Al has received an offer from an investor to inject $51 million into the struggling airline in return for 190 million shares. It has been formally put to the board by entrepreneur David Sapir, who is active in the tourism business and believes there are opportunities for ...