Latest Airlines news – Page 254
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NewsSAS details extensive make-or-break recapitalisation plan
Scandinavian operator SAS has detailed a recapitalisation programme intended to run alongside its revised business plan and the implementation of broad efficiency measures. It says the Swedish and Danish governments, along with its third-largest shareholder – the Wallenberg Foundation – are supporting the plan, through which SAS aims to restore ...
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NewsComair rescuers seek time to scrutinise expression of interest
South African carrier Comair’s rescue practitioners are still trying to work through the details of an expression of interest in the airline, and are seeking to postpone further the publication of a business plan. They are requesting creditor approval to push back the publication date from 30 June to 28 ...
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NewsCovid-19 to hit per-passenger emission reductions: HSBC
The coronavirus crisis will reduce the overall output of carbon emissions from Europe’s airlines, but a desire to cut capital expenditure will delay introduction of new aircraft, weakening unit CO2 performance, according to analysis from HSBC.
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NewsIcelandair delays share issue to August as crucial talks go on
Icelandair Group has deferred a planned share offering until August, as it strives to reach stakeholder agreements on which the stock issue is conditioned. The company had been aiming to seal these agreements by 29 June, a date already pushed back by two weeks from the original mid-June estimate. Icelandair ...
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NewsNok Air turned down chance to buy Scoot’s stake in joint venture
Thailand’s Nok Air turned down an offer to take over Scoot’s stake in NokScoot, the joint venture company whose board today voted in favour of liquidation. Singapore’s Scoot, the regional arm of SIA Group and a 49% shareholder in NokScoot, says in a 26 June statement that it offered to ...
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NewsAer Lingus staff to vote on new labour deal
Aer Lingus staff represented by the SIPTU union are to be balloted after a deal was reached on new pay and conditions at the Irish carrier.
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NewsNokScoot board votes in favour of liquidation
NokScoot’s board has decided to liquidate the company as it sees no path to recovery.
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NewsSAA’s future remains in limbo as unions secure delay to rescue vote
Decisions on the future of South African Airways have been pushed back by nearly three weeks, after three unions secured an adjournment of a crucial creditor meeting, in order to buy time to adjust the business rescue plan. The SAAPA, SACCA and NUMSA unions – representing pilots, cabin crew, and ...
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NewsEasyJet sells six A320neos to SMBC
Budget airline EasyJet has further reinforced its finances after agreeing a $255 million sale-and-leaseback involving six Airbus A320neos. The carrier states that the deal is part of a plan – disclosed in May – to raise about £500-650 million ($620-807 million) through such transactions. EasyJet has identified SMBC Aviation Capital ...
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NewsGovernment urges support as SAA rescue faces critical creditor vote
South African Airways’ creditors are set to decide the future of the troubled flag-carrier, more than half a year after it entered a business rescue scheme, with the government urging support for a new business plan. At least 75% support from creditor voting interests, following a meeting due to be ...
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NewsIcelandair reaches crucial restructuring pact with cabin crew union
Icelandair Group has achieved a breakthrough in its restructuring efforts, with a provisional productivity agreement with cabin crew representatives. While the company had reached new deals with its pilots and aircraft mechanics, cabin crew union FFI was holding out and Icelandair Group was pessimistic over progress. But it states that ...
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NewsQantas to retire 747s immediately, axe 6,000 staff in three-year recovery plan
The Qantas Group will be retiring its fleet of six Boeing 747s immediately — six months ahead of schedule — and ground 100 aircraft for up to a year, as part of cost saving measures that will also see about 20% of its employees axed. Taken together, Qantas says the ...
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NewsQantas Group plans A$1.9 billion equity raise
Qantas Group will raise up to A$1.9 billion ($1.3 billion) in equity capital to strengthen its balance sheet, as part of a three-year plan to accelerate its recovery from the Covid-19 crisis. This encompasses A$1.36 billion from a fully underwritten institutional placement, and up to A$500 million from a non-underwritten ...
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NewsIATA calls for layered alternative to quarantine
IATA has highlighted research findings that quarantine effectively shuts down passenger demand for air travel, and is urging governments to adopt a variety of alternative measures to minimise the risk of importing coronavirus via infected passengers. The airline association’s proposed framework consists of measures to prevent sick people from traveling ...
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NewsEasyJet to reinforce cash position with expanded share issue
UK budget carrier EasyJet is aiming to raise £400-450 million through issuing new shares equating to just under 15% of the current share capital. Up to 59.54 million shares will be placed through an immediate accelerated bookbuilding process. EasyJet has started restoring flight operations after an 11-week grounding. It says ...
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NewsIATA sees industry billings system holding firm
IATA believes its billings and settlements plan (BSP) system that supports air travel industry transactions has held firm during the liquidity strain facing airlines and travel agents during the Covid-19 crisis.
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NewsGovernment reviewing funding proposals for restructuring SAA
South Africa’s government is claiming to have received a number of unsolicited proposals to fund a new national airline in the aftermath of South African Airways’ business rescue process. These proposals have been received from private-sector funds, equity investors, and potential airline partners, says the government’s department of public enterprises. ...
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NewsNokScoot cuts staff and returns aircraft to rationalise ops
NokScoot is making an unspecified number of staff redundant, and returning three aircraft by month-end, as part of a rationalisation of its business amid the pressures of the Covid-19 pandemic. “Following a review of our operations, NokScoot has taken steps to rationalise our business to cope with the huge impact ...
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NewsTurkey’s SunExpress to axe German airline operation
German-Turkish leisure carrier SunExpress is shutting its German division as part of a revamp of its operations which includes concentrating on its core business. Although SunExpress has gradually resumed flights since 1 June, restoring both domestic and international services, it says the coronavirus crisis “hit hard” during April and May. ...
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NewsUral Airlines starts restoring fleet to passenger configuration
Russian carrier Ural Airlines has started reconverting aircraft back to passenger configuration, having temporarily modified them to operate as freighters. Ural Airlines says it converted 12 of its 48 jets to cargo configuration as passenger traffic bled away and freighter capacity demand rose during the coronavirus crisis. The operator has ...