News from FlightGlobal – Page 422
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NewsCondor set for fleet renewal after equity fund Attestor acquires majority stake
Asset manager Attestor is to acquire a 51% stake in German leisure carrier Condor, investing €200 million ($244 million) in equity capital and providing a further €250 million to modernise the carrier’s long-haul fleet. The move secures fresh financial footing for the carrier after a period in which it has ...
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NewsAirAsia X posts Q1 operating loss of MYR5.5 billion
Malaysian long-haul, low-cost carrier AirAsia X has posted a first quarter operating loss of MYR5.5 billion ($1.3 billion) amid the collapse in its business owing to the coronavirus pandemic.
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NewsVolga-Dnepr’s Atran leases another pair of 737-800 freighters
Russian freight specialist Volga-Dnepr Group’s Atran Airlines division is leasing another pair of converted Boeing 737-800 freighters from GECAS. The express cargo operator has received one 737-800BCF – an ex-Ryanair aircraft, registered VQ-BFR – from the lessor and is taking a second later in May. They will build on the ...
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NewsThai Airways’ creditors approve rehabilitation plan
Thai Airways International’s creditors have approved its rehabilitation plan at a 19 May meeting.
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NewsFosun International unit setting up firm to invest in airlines
A subsidiary of Chinese conglomerate Fosun International is setting up a company with the purpose of investing in airlines.
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NewsVirgin Australia details growth plan for domestic network
Virgin Australia Group has disclosed plans to grow its domestic network, which entails adding 700 weekly flights by October through new services and adding capacity on key routes.
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NewsStrong cargo performance helps Asiana narrow losses
Asiana Airlines narrowed its first quarter operating loss to W11.2 billion ($9.9 million), compared with W2 trillion a year earlier.
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NewsCathay Pacific aims to attain carbon neutrality by 2050
Hong Kong carrier Cathay Pacific has committed to cut carbon emissions to net zero by 2050, by focusing on investing in sustainable aviation fuel (SAF), carbon emission offsets and reducing emissions through enhanced efficiency.
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NewsLawmakers seek to subsidise sustainable aviation fuel production
US lawmakers have introduced a bill to subsidise production of sustainable aviation fuels (SAF), with supporters describing the measure as key to helping airlines achieve carbon neutrality by 2050.
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NewsStop-start recovery for Asia-Pacific aviation market, warn experts
Webinar panelists suggest region faces an on-off recovery as states respond to Covid-19 outbreaks by closing borders with little warning
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NewsEl Al not concerned about financial impact of Gaza hostilities
Israeli flag-carrier El Al has yet to determine the financial consequences of the armed conflict which has ignited in Gaza, but believes the impact is not material at this stage. While some foreign carriers have been cancelling flights to Tel Aviv, El Al says it has continued to offer an ...
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NewsEU ministers clear the path to reopening air travel markets
European Union ministers have cleared the path for reopening non-essential air travel into the bloc after adopting recommendations easing the temporary restrictions from countries where the Covid outbreak is considered under control and to people that have been vaccinated against the disease.
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NewsEasyJet ready to ‘flex up’ capacity after pandemic-hit first-half loss
Low-cost carrier EasyJet expects to fly only 15% of its capacity in the current quarter after posting a pre-tax loss of €701 million for the first half of its fiscal year.
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NewsSIA Group to take 32 deliveries despite very weak demand
Singapore Airlines Group expects to take delivery of 32 aircraft in the coming 12 months including eight Boeing 737 Max 8, although it is uncertain when the type will return to service in the region.
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NewsCollins, Ameco expand Air China support pact
Collins Aerospace has expanded its agreement with MRO firm Ameco to support Air China’s aircraft fleet.
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NewsSIA announces S$6.2 billion convertible bond issue
Following massive losses for its 2020/21 financial year, Singapore Airlines (SIA) has moved to further shore up its cash position with a S$6.2 billion ($4.6 billion) convertible bond issue.
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NewsQantas flags A$2 billion loss amid further job cuts, wage freeze
The coronavirus pandemic is expected to cost the Qantas Group A$16 billion ($12.4 billion) in lost revenue, though airline chief Alan Joyce believes it is “slowly starting to turn the corner”.
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NewsFAA dishing out hefty fines to combat surge in ‘unruly’ air passengers
The Federal Administration has been dishing out more and higher fines in recent weeks to combat a surge disturbances caused by “unruly” passengers, including incidents involving violence against flight crew.
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NewsAer Lingus details cuts at Shannon and Cork bases
Aer Lingus is to permanently close its cabin crew base at Shannon airport as part of a series of cost-savings measures after warning there will be redundancies as it emerges smaller from the pandemic.
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NewsCourt rules against KLM and TAP state aid approvals
A court has annulled European Commission decisions approving state aid for KLM and TAP Air Portugal, judging that it failed to consider all factors, though it has suspended the annulments until fresh decisions are made.