Latest Airlines news – Page 251
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NewsComair business plan pushed back as rescuers work to firm up offers
South African carrier Comair’s rescue practitioners have disclosed that a potential deal with an interested consortium has fallen through, but are pushing back publication of a business plan to provide time to consider other approaches. Publication of the business plan had been due on 28 July after an expression of ...
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NewsIcelandair seals new cabin crew pact as it reels from first-half losses
Icelandair Group has secured approval from its flight attendants for a new collective agreement, thrashed out after a stand-off which involved the airline’s dismissing, and then reinstating, its cabin crew corps. The agreement will remain valid until the end of September 2025 and rounds off the critical negotiations with personnel ...
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NewsFastjet seeks stock market delisting in bid to maintain crucial funding
African operator Fastjet Group is planning to delist from the stock market and register as a private company, as a condition of securing further support from key shareholder Solenta Aviation Holdings. Fastjet is listed on London’s Alternative Investment Market. But it says there is “considerable” cost and time involved in ...
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NewsRecovering Ryanair could have 40 737 Max jets by summer 2021
Budget carrier Ryanair hopes to introduce its first Boeing 737 Max this year and up to 40 of the type ahead of the 2021 summer season. But the airline warns that the financial year will be “very challenging” after it turned in a first-quarter net loss of €185 million ($217 ...
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NewsEl Al seeks approval to raise capital as pilots object to cost-saving pact
El Al has called a shareholders’ meeting for 18 August in order to seek approval to raise the company’s registered share capital. The Israeli flag-carrier is planning to raise $400 million through a $150 million share issue and a state-backed staggered $250 million loan. El Al says that, in order ...
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NewsEurope’s low-cost carriers look beyond the restart
With the European aviation market shaken and long-haul travel largely absent, it is the continent’s low-cost carriers that are embracing the restart, driven by pent-up leisure and visiting-friends-and-family (VFR) demand.
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NewsFinnair expects to restore 50% of flights by September
Finnair is expecting to rebuild its services over the third quarter, operating around 50% of its pre-crisis flight capacity by September, up from the figure of 25% in July. It aims to carry out 120 daily flights in August and increase this to 190 in September. The airline turned in ...
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NewsCharter carrier Jet Time collapses but owner plots Nordic successor
Danish charter carrier Jet Time is filing for bankruptcy, the latest air transport casualty of the crisis triggered by the coronavirus pandemic. Jet Time states that the restrictions on travel and closed borders have proven “too great a challenge” for the operator. Chief executive Jorgen Holme is submitting the filing ...
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NewsEl Al must issue shares before state will back loan
Israeli flag-carrier El Al must carry out a planned $150 million share issue by the end of August, before the country’s government will back a $250 million bank loan. The conditions have been outlined in a 22 July letter from the ministry of finance. El Al opted in early July ...
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NewsBA pilots vote on pay cuts and ‘holding pool’ to reduce job losses
British Airways pilots are to be consulted on a package involving pay cuts and a series of other measures intended to protect crew jobs, with the cockpit union admitting the conditions of the deal are unlikely to be bettered. Cockpit union BALPA has been discussing ways to avoid cutting over ...
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NewsQatar Airways’ parent pursues $5bn in compensation over blockade
Qatar Airways’ parent group is seeking $5 billion in compensation against the four Arab states which imposed a blockade on the airline three years ago. The company says it is taking formal arbitration action to obtain “redress” over the blockade which was put in place by Saudi Arabia, Bahrain, Egypt ...
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NewsIcelandair Group expects $100m second-quarter operating loss
Icelandair Group has revealed the extent of the coronavirus impact on the second quarter, indicating an operating loss of around $100-110 million. The company says its revenues for the three-month period to 30 June were down by 85% to some $60 million. Its operating loss in the same quarter last ...
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NewsAmid pomp and ceremony, last Qantas 747 heads into retirement
Qantas’s last Boeing 747 has flown into retirement, ending a half-century career with the airline. The aircraft, a 17-year-old 747-400ER registered VH-OEJ, took off from Sydney at just before 15:30 local time, operating flight QF7474 towards Los Angeles to deliver a load of freight, before heading to its final resting ...
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NewsCathay delays Airbus deliveries, negotiates 777-9 deferrals
Cathay Pacific will defer delivery of its Airbus aircraft by up to two years, and is in “advanced negotiations” with Boeing about delaying the delivery of the 777-9 widebody, in a bid to “produce cash savings” in the short to medium term. The deferrals on Airbus aircraft, announced in a ...
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NewsUS pilot union calls for extension of airline financial aid
Pilot union Air Line Pilots, International (ALPA) has again called on the US Congress to extend its payroll support programme (PSP) another six months beyond the original expiry date of 1 October.
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NewsUK government consults on post-Brexit ETS replacement
Aviation emissions could be included in a new carbon tax under consideration by the UK government to replace the EU Emissions Trading System, which the country is set to leave when its Brexit transition period ends on 31 December.
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NewsComair rescue attracts several expressions of interest
Four expressions of interest have been received by advisers to South African carrier Comair’s business rescue process. The company’s rescue practitioners state that the adviser, Redford Capital, has received 19 signed confidentiality agreements having “engaged” with 47 parties since the process began. Comair was placed under business rescue in May. ...
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NewsOpposition remains highly suspicious over SAA rescue funding
South Africa’s treasury has yet to detail how it intends to fund the rescue plan for South African Airways, as the country’s political opposition warns that it will intervene to prevent any illegitimate attempts to finance the airline’s revival. While finance minister Tito Mboweni appears to have reassured the Democratic ...
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NewsChina Eastern optimistic about strong domestic recovery
China Eastern Airlines anticipates restoring most of its domestic network by the end of July, as it records a ten-fold increase in flights within the country since the coronavirus outbreak bottomed out travel demand. In an update following its release of June traffic figures, the SkyTeam carrier estimates that ...
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NewsInvestor offers $75m for 45% share in struggling El Al
Israeli flag-carrier El Al has received an offer from an investor who is prepared to acquire a private allotment of shares worth $75 million. The offer has come from an individual which the law firm Shibolet identifies, in a 20 July letter to the airline, as businessman Eli Rozenberg. This ...