Latest Airlines news – Page 259
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NewsNorway to extend airline loan guarantee scheme
Norway’s government plans to extend its state loan guarantee scheme for airlines until the end of October saying the crisis is lasting longer than envisaged when the programme was intially launched.
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NewsKuwait Airways to lay off 1,500 staff
Kuwait Airways is to shed 1,500 foreign personnel in response to the problems presented by the coronavirus crisis. The flag-carrier states that the “difficult decision” follows the “great hardships that the company is facing” as a result of the impact on the air transport sector. As a result of the ...
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NewsUIA expects to restore long-haul hub services next year
Ukraine International Airlines is to put 14 aircraft into operation once it starts restoring services, as it expects government restrictions to lift on 15 June. But chief executive Yevhenii Dykhne says it has “stopped employing” around 900 personnel following a “substantial decline” in the airline’s operations. “We aim at sustaining ...
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NewsSAS to defer Airbus deliveries as it overhauls business plan
Scandinavia’s SAS is to defer and review future Airbus deliveries and those from lessors, as part of its response to the coronavirus crisis, as it continues to pursue additional funding. The airline is drawing up a revised business plan which aims to bring SKr4 billion ($417 million) in improvements by ...
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NewsThai Airways appoints planners for business rehabilitation
Thai Airways International has appointed five people, including one of its former presidents, to jointly hold the position of plan preparer during its business rehabilitation process. The carrier’s chairman Chaiyapruk Didyasarin and acting president Chakkrit Parapuntakul have been appointed, along with three newly appointed board members: former president Piyasvasti Amranand, ...
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NewsChina opens ‘green channel’ for charters
China’s aviation regulator will gradually reopen its borders, as it allows selected travellers from certain countries to travel to the country. Under a new “green channel” policy, the Civil Aviation Administration of China (CAAC) will allow carriers — both Chinese and international — to apply for rights to operate ...
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NewsAir Canada seeks five new international cargo routes
Air Canada is seeking government approval to add five new destinations in Europe and South America to its air freight network starting 1 June, seeking to take advantage of demand for cargo capacity even as passenger travel demand remains stagnant. If approved, the Canadian flag carrier would operate air freight ...
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NewsRyanair challenges Lufthansa state-aid package
Ryanair plans to appeal against Lufthansa’s €9 billion ($9.9 billion) financial package from the federal German government on the grounds that it “distorts competition”. Lufthansa Group received approval from the German government’s economic stabilisation fund, WSF, on 25 May for a rescue deal under which the fund would take a ...
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NewsLATAM immediately cutting 19 leased aircraft from fleet
LATAM Airlines Group has identified 19 leased aircraft which it will cut from its operators’ fleets, following the company’s filing for US Chapter 11 creditor protection. Six long-haul jets – comprising two Airbus A350-900s and four Boeing 787-9s – are among the aircraft listed in the filing. The remainder is ...
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NewsIATA spells out airline failure fears from rising debt burden
IATA is warning that the increased debt levels being racked up by airlines to counter the revenue shortfall during the coronavirus grounding means a slower recovery and the potential for failures remain even though state interventions have been made.
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NewsLATAM voluntarily files for Chapter 11 protection
South American operator LATAM Airlines Group, along with some of its affiliates, is filing for US Chapter 11 creditor protection in order to undertake a restructuring process. The company says the voluntary filing, with the Southern District of New York bankruptcy court, has the support of key shareholders Cueto Group ...
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NewsEasyJet finance chief to step down next year
UK budget carrier EasyJet’s chief financial officer, Andrew Findlay, is stepping down from his position next year. Findlay has advised the board of his intention to leave the low-cost carrier in May 2021, in line with contractual obligations. He had survived a 22 May bid by EasyJet founder Stelios Haji-Ioannou ...
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NewsPhilippine Airlines confirms $1bn revenue loss due to Covid-19
Philippine Airlines (PAL) has seen revenue shrink by nearly $1 billion since it suspended operations because of the coronavirus pandemic, the flag carrier’s parent confirms.
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NewsLufthansa Group secures finance package from economic fund
Lufthansa Group has secured approval from the federal German government’s economic stabilisation fund, WSF, for a €9 billion financial package. Under the agreement the WSF will contribute up to €5.7 billion to Lufthansa’s assets including €4.7 billion in equity. The measure will be supplemented by a syndicated three-year credit facility ...
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NewsAir Canada-Transat tie-up faces European competition scrutiny
Air Canada’s proposed acquisition of Transat AT, the parent of leisure carrier Air Transat, is to face scrutiny from European competition regulators. The European Commission is concerned that the tie-up could “significantly” reduce competition on 33 city-pairs between Canada and the 30 countries of the European Economic Area. These city-pairs ...
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NewsAir Astana converting 767s for new cargo division
Air Astana is establishing a freight division, Air Astana Cargo, which will use three Boeing 767-300ERs which are being retired from the airline’s fleet and modified for cargo transport. It will put the initial aircraft into service on 26 May – in a “semi-cargo” layout, following modification in Almaty – ...
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NewsPhilippine Airlines' parent returns to profitable growth in 2019
PAL Holdings posted an operating profit of Ps2.87 billion ($56.6 million) in 2019, reversing 2018’s Ps5.98 billion operating loss. Total revenue at the parent company of Philippine Airlines (PAL) grew 2.7% to more than Ps154 billion, driven by a 4.2% increase in the passenger segment revenue to Ps134 billion. Ancillary ...
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NewsVirgin Australia secures US Chapter 15 recognition
Virgin Australia has secured recognition from the US Bankruptcy Court for its voluntary administration process, under Chapter 15 of the country’s bankruptcy code. This protects the carrier’s US assets from creditors and allows Australia’s courts to preside over all claims. The petition was filed in New York on 29 April, ...
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NewsEasyJet to start restoring flights in mid-June
UK budget carrier EasyJet is to restore flights from 15 June, on a limited number of routes on which the airline believes it can maintain profitable operations. These services will primarily comprise domestic flights in the UK and France, the airline states. “Further routes will be announced over the coming ...
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NewsLufthansa Group nears deal for €9bn financing package
Lufthansa Group is holding advanced talks with the German economic stabilisation fund WSF for conditional assistance of up to €9 billion. The company says €3 billion of this assistance would take the form of a loan from bank KfW. Lufthansa Group says an agreement “has not yet been finalised”. It ...