Latest Airlines news – Page 253
-
NewsEl Al faces class-action suit alleging unpaid ticket refunds
Israeli flag-carrier El Al is facing a lawsuit over allegations that it failed to reimburse customers for cancelled flights, and did not inform the public about their right to receive a refund. The class-action suit has been brought before a district court by all passengers who were due to fly ...
-
NewsSAA pilots seeking ‘unaffordable’ staff retention: government
South African Airways pilots have sought to more than halve the proposed number of employee retrenchments, and instead retain almost 3,100 personnel for the carrier’s relaunch, according to the country’s government. But the proposal has been dismissed by the department of public enterprises, which insists it is “not prepared to ...
-
NewsTentative Icelandair cabin crew deal falls through
Cabin crew members at Icelandair Group have voted against a provisional collective bargaining agreement that was struck between the airline and flight attendant union FFI in June. The carrier says it will “evaluate its options” after union members “declined” the pact, an important part of its restructuring plan. Icelandair has ...
-
NewsSAA pilots isolated as other unions gradually back severance scheme
South African Airways unions have largely indicated acceptance of voluntary severance packages as part of the airline’s rescue, after the government warned that workers’ representatives that it cannot improve on the severance offers. Cockpit union SAAPA has not followed other unions’ gradual shift into accepting the proposals, but it appears ...
-
NewsEl Al to slash workforce as part of rescue package agreements
Israeli flag-carrier El Al is set to shed 1,700 positions across three divisions as part of a restructuring programme. The airline says it has reached new collective agreements with its maintenance and administrative sectors. Chief executive Gonen Usishkin says the arrangement is “another step on the road to El Al’s ...
-
NewsJiangxi Air applies to start international operations
Chinese carrier Jiangxi Air has applied to the country’s civil aviation authorities to start international passenger and cargo operations. A notice from the Civil Aviation Administration of China (CAAC) states the Nanchang-based airline had applied to be able to fly to Hong Kong, Taiwan, as well as flights to “neighbouring ...
-
NewsAeroflot chief sets out expectations for restoration of international network
Russia’s Aeroflot Group is hoping to restore 80% of its international services by the end of this year, and restore the network fully by the end of the winter season in March 2021. Chief executive Vitaly Saveliev has outlined the ambition during a meeting with Russian president Vladimir Putin. Saveliev ...
-
NewsEl Al could be renationalised as it opts for share issue
Israeli flag-carrier El Al has given up pursuing a $400 million state-backed loan and opted for an alternative fundraising package which could result in the airline being renationalised. El Al’s board has chosen a $250 million bank loan, which would have a state guarantee, alongside a $150 million share issue, ...
-
NewsAir Arabia Abu Dhabi to open flights with Egyptian routes
Middle Eastern budget carrier Air Arabia’s new Abu Dhabi-based spin-off is to open services in mid-July with initial operations to two Egyptian cities. Air Arabia Abu Dhabi is to operate to Alexandria, from 14 July, and Sohag from the following day. It will commence services with a pair of Airbus ...
-
NewsJapan’s ANA and JAL secure $1.6bn in export-credit guarantees
The Japan Bank for International Cooperation is providing guarantees totalling Y174 billion ($1.6 billion) for aircraft-import loans to ANA Holdings and Japan Airlines. The export-credit agency on 9 June signed an agreement with private financial institutions to provide a Y88.4 billion guarantee against the principal and interest of their loans ...
-
NewsInitial expressions of interest sought for SA Express jets
Assets of South African regional carrier SA Express, including Bombardier CRJ200 jets, are being advertised online as part of an initial process to obtain expressions of interest, as the airline edges towards liquidation. The airline was placed in provisional liquidation on 28 April but a final liquidation order has been ...
-
NewsPilot stand-off piles more pressure on El Al
Israeli carrier El Al is putting another 400 personnel on furlough after the carrier’s pilots chose not to operate a number of the airline’s services. The airline had been operating a limited number of passenger and cargo services from Israel, although its scheduled passenger flights had been suspended until 31 ...
-
NewsFinnair raises €501m from oversubscribed share offering
Finnair has disclosed that investor have oversubscribed by nearly 11% to a new share issue intended to reinforce the Nordic company’s liquidity. The company says it will receive net proceeds of around €501 million. Finnair received subscriptions for more than 1.416 billion shares against the 1.279 billion on offer. The ...
-
NewsSAA rescue remains uncertain as treasury highlights funding pressures
South Africa’s government is urging creditors and unions to support South African Airways’ proposed rescue, warning that the airline’s liquidation is the worse of the options available. But the opposition Democratic Alliance believes the country’s treasury, which is having to cope with funding pressures from the coronavirus crisis, is reluctant ...
-
NewsFastjet counts on flight restoration as cash reserves dwindle
African budget operator Fastjet Group believes it has sufficient funds to last through August but is warning that it needs flight operations to resume to sustainable levels in September. Its services have effectively been shut down since 7 April, bar a limited number of repatriation flights, following government lockdowns in ...
-
NewsEl Al reiterates concerns over survival as losses mount
Israeli flag-carrier El Al has reiterated that a financial support scheme is critical to the airline’s survival, as it disclosed a net first-quarter loss of nearly $140 million. El Al says financial assistance is “essential” to its being able to deal with the coronavirus crisis. At the end of the ...
-
NewsGaruda posts sharp fall in first-quarter operating profit
Garuda Indonesia posted an operating profit of $616,000 in the first quarter of 2020, a sharp fall from the $49.4 million profit in the same period last year. Revenue for the quarter ended 31 March fell by 30.1% year-on-year to $768 million, led by a 29.2% decline in revenues from ...
-
NewsAir cargo demand still outstripping capacity: IATA
Despite an ongoing collapse in demand for air cargo, the loss of bellyhold space in passenger aircraft means that global freight capacity is still struggling to cope with the volume of goods that needs transporting, IATA data shows. The airline association says that while global demand as measured by cargo ...
-
NewsEasyJet proposes UK base closures including two in London
UK budget carrier EasyJet is proposing to close two of its four London bases, as well as its Newcastle station, as part of the cuts to cope with the coronavirus situation. The airline is looking to shut its London Stansted and London Southend bases, along with Newcastle, and to cut ...
-
NewsEasyJet’s agreement with Stelios ends as his stake shrinks
EasyJet’s relationship agreement with founder Stelios Haji-Iaonnou has been terminated after his stake in the UK carrier dropped below the 30% threshold.