Latest Airlines news – Page 264
-
NewsSwiss to modify 777s for cargo-only flights
Swiss intends to reconfigure three Boeing 777s as cargo aircraft under a plan to operate more than 100 freight services to Asia and North America by the end of May. The Lufthansa Group carrier says it will establish “a new network of cargo-only services” to operate up to three daily ...
-
NewsPakistan and India ease lockdowns but flights remain grounded
Pakistan and India are easing some of their coronavirus-related lockdown measures, though it will still be at least more than two weeks before aircraft flying scheduled international flights take to both countries’ skies as Pakistan has extended its flight ban and India’s remains subject to review. The lockdown in Pakistan ...
-
NewsEstonia makes merger a condition of Nordica capital increase
Estonia’s government is to increase the share capital of local carrier Nordica by €30 million ($33 million) to help the airline through the coronavirus crisis – an investment which is conditional on the merger of Estonian aviation assets.
-
NewsAir France-KLM Group carriers secure Franco-Dutch financial package
Air France-KLM Group has secured government funding to help the operator cope with the impact of the coronavirus crisis. The group had previously warned that, despite measures to preserve liquidity, it would need a capital injection in the third quarter of this year. It has negotiated a French state-backed loan ...
-
NewsIcelandair converting 767s for Chinese medical supply flights
Icelandair Group is to reconfigure three Boeing 767s to transport cargo after reaching an agreement to operate freight flights between China and Germany. It has entered a pact with German firm DB Schenker, which is owned by rail company Deutsche Bahn. Icelandair Group says the 767s will have their passenger ...
-
NewsGerman operator LGW files for insolvency
German regional carrier LGW has filed for insolvency after Lufthansa low-cost subsidiary Eurowings terminated a wet-lease agreement.
-
NewsSAA left with no options but wind-down or liquidation: rescue practitioners
South African Airways’ business rescue practitioners have warned that the exhaustion of funding to draw up a rescue plan for the flag-carrier has left them with two stark options for the airline. The practitioners state that they are facing the choice of attempting to secure a better return for SAA’s ...
-
NewsFastjet sells ERJ-145 to Solenta to offset maintenance debt
African budget operator Fastjet Group has sold a dormant Embraer ERJ-145 to Solenta Aviation in a deal to reduce debts owed for maintenance work within Fastjet’s Zimbabwean division. The ERJ-145 had been used for Fastjet’s operations in Mozambique before the company suspended services in the country last year. Fastjet Group ...
-
NewsEl Al sells three 737-800s to ease financial pressure
Israeli flag-carrier El Al has reached a sale-and-leaseback agreement with an unidentified foreign company covering three Boeing 737-800s. The airline, which has been seeking to shore up its finances, says it signed a memorandum of understanding for the transaction on 23 April. El Al has not identified the specific airframes ...
-
NewsShutdown to cost European airlines $89 billion: IATA
IATA has increased its estimate of the cost of the coronavirus crisis to European airlines, and now believes it will cut sector earnings 2020 earnings by more than half. The association is predicting an annual revenue reduction of 55% against 2019, a hit of $89 billion. This represents an increase ...
-
NewsGaruda outlines measures to ride out coronavirus pandemic
Garuda Indonesia has outlined the measures undertaken in light of uncertainties caused by the coronavirus pandemic. In response to a stock exchange query made on 16 April, the airline says it has begun negotiations with lessors to delay payment on leased aircraft and to extend their lease periods. It will ...
-
NewsICAO predicts 1.2 billion fewer air travellers by September
ICAO forecasts that the Covid-19 crisis could send the number of international air travellers falling by up to 1.2 billion by September 2020, compared to a typical year. It also estimates that airline revenues could fall by $160-253 billion for the first nine months of this year, with international capacity ...
-
NewsVietJet records 14% decline in 2019 profit
VietJet Air saw its operating profit in 2019 decline 14.3% to D4.98 trillion ($211 million), down from the previous year’s profit figure of D5.8 trillion. Consolidated revenue for the year ended 31 December 2019 declined 2.8% to D52 trillion. Net profit meanwhile fell 20.9% to D4.22 trillion. Cash and cash ...
-
NewsSIA’s fund-raising plan is ‘gold standard’: Goldman Sachs
Goldman Sachs deems Singapore Airline’s plans to raise up to S$15 billion ($10 billion) the “gold standard” among coronavirus-related rescue packages for airlines. “We view that as really the gold standard for the packages that have been put in place,” Nicola Dondi, managing director at Goldman Sachs (Asia), said at ...
-
NewsUK clears CargoLogicAir to resume freight flights
UK regulators have restored the operating licence of freight operator CargoLogicAir, clearing it to operate contracts providing medical supplies using a pair of Boeing 747 freighters.
-
NewsSouth African government presses unions for concessions to rebuild SAA
South Africa’s government is pressing unions to avert a collapse of South African Airways and ensure that the business rescue strategy results in the emergence of a more competitive carrier. It has asked unions to submit proposals on restructuring the carrier and, in particular, details on the future of jobs. ...
-
NewsAsiana Airlines gets new loans from state banks: reports
South Korea’s Asiana Airlines has received additional loans from two state banks as it grapples with the coronavirus crisis, according to media reports. The Korea Development Bank (KDB) and the Export-Import Bank of Korea will inject W1.7 trillion ($1.4 billion) into South Korea’s second-largest carrier, Yonhap and Reuters reported on ...
-
NewsOver 10 parties show interest in Virgin Australia: administrator
The administrators for Virgin Australia note there is healthy interest in recapitalising the airline and intend to bring it out of administration as quickly as possible. “There are in excess of 10 parties known to us who have got a keen interest in being part of the restructure of Virgin,” ...
-
News
Wizz Air qualifies for UK coronavirus fund support
Central European budget carrier Wizz Air has obtained confirmation that it can take advantage of the UK government’s support scheme for companies affected by the coronavirus crisis. Wizz Air says it has been assured it is an “eligible issuer” under the Covid Corporate Financing Facility. The airline has not specified ...
-
NewsEl Al in talks for bank loan backed by government
El Al has entered discussions with an Israeli bank for a loan which would be partly backed by a state guarantee, in an effort to prop up its financial position. The Israeli flag-carrier had previously sought an assistance package from the ministry of finance but was turned down. While El ...