News from FlightGlobal – Page 454
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NewsNorwegian reaches accommodation with several lessors
Norwegian and its subsidiaries have reached an accommodation with a number of lessors, including Avolon and SMBC Aviation Capital, relating to several aircraft the airline was formerly seeking to reject as part of its Irish restructuring process.
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NewsEuropean ministers sign off on summer slot rules revision for airlines
European transport ministers have today formally approved temporary rules under which airlines will only have to use a minimum of 50% of their take-off and landing slots during the forthcoming summer season to retain them for 2022.
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NewsEl Al sets out post-crisis earnings forecast as it nears loan deal
El Al is projecting a $200 million improvement in its earnings in 2024, compared with the average figure achieved over 2017-19. The airline has put the forecast to investors as it seeks to raise $75 million by September 2021 as part of a financial package which would also include a ...
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NewsEl Al seeks to raise $75m in new capital to obtain $300m loan
Israeli flag-carrier El Al is seeking to raise around $75 million through issuing tradeable warrants, as part of a bid to obtain a state-backed loan worth about $300 million. The issue has been approved by the Israeli ministry of finance, subject to an undertaking by El Al’s controlling shareholder to ...
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NewsAustralia imposes quarantine on NZ travellers after Auckland outbreak
Canberra will impose quarantine on travellers from New Zealand following the emergence of new coronavirus cases in Auckland.
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NewsCourt approves reorganisation of six HNA carriers
The highest court in China’s Hainan province has approved applications from creditors to place 10 affiliates of Hainan Airlines Holding in bankruptcy reorganisation, including six airlines, a 10 February filing to the Shanghai Stock Exchange shows.
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NewsLessors strike deals with Thai Airways
Many lessors have reached agreements with Thai Airways International on the future of their aircraft as part of the carrier’s restructuring process, lessors with exposure and people close to the restructuring tell Cirium.
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NewsEl Al considers further capital raise to obtain loan
Israeli flag-carrier El Al is considering raising further capital as part of its efforts to secure loan financing. The airline says it is “examining the possibility” of raising capital to “strengthen” the company’s equity position. El Al says this reinforced equity is a condition of the Israeli ministry of finance ...
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NewsUS airlines lobby against potential Covid-19 test mandate for domestic flights
US airline executives have met with administration officials at the White House to lobby against government deliberations to impose a coronavirus testing requirement for all domestic air travellers.
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NewsVolaris sticks with P&W turbofans for another 80 A320neos
Mexican discount airline Volaris has agreed to power another 80 incoming Airbus A320neo-family jets with Pratt & Whitney PW1100G geared turbofans.
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NewsGerman government finalises airport support package
The German government has agreed a financial support package for airports under which the nation’s 15 largest gateways will receive more than €600 million ($725 million).
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NewsAir Canada ends ‘undeniably grim’ year with Q4 loss of C$1.2bn
Air Canada ended 2020 with a fourth-quarter loss of C$1.2 billion ($950 million), closing a year the company’s outgoing chief executive calls “undeniably grim”.
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NewsAir Canada ‘confident’ that government aid is coming
Air Canada’s chief executive is “confident” that the government of Canada will offer airlines a sector-specific financial aid package – the type of support for which the industry has clamoured since the coronavirus pandemic began.
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News2020 was worst for European airport traffic in 25 years
Trade body ACI Europe is calling for further financial support for European airports as they struggle for survival after a year in which passenger volumes fell back to levels last seen 25 years ago.
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NewsFrench shipping giant CMA CGM to enter air cargo market with A330-200Fs
French logistics and sea transport firm CMA CGM is branching into air freight operations, with the introduction of services using four Airbus A330-200Fs. The company is establishing a new division, CMA CGM Air Cargo, which will be dedicated to air freight services. It states that the strategic move is intended ...
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NewsSpirit targets return to full capacity in summer
Spirit Airlines made a $508 million operating loss in 2020 but plans to return to full pre-pandemic capacity levels by the summer travel season and take delivery of 16 aircraft by year-end. The US low-cost carrier’s 2020 loss compared with a $501 million profit in 2019. The rising number of ...
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NewsEthiopian Airlines is ‘cash-positive’ as shift to cargo pays off
Ethiopian Airlines’ decision to temporarily convert 25 passenger aircraft for cargo operations has helped it to become “cash positive” during the Covid-19 crisis, according to the African carrier’s chief executive Tewolde Gebremariam.
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NewsJet2 raises £422m to guard against ‘unpredictable shutdown’
Jet2 has raised £422 million ($582 million) through an equity issue aimed at ensuring it has sufficient liquidity in the event of an “extended and likely unpredictable shutdown”.
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NewsBahrain military picks up former Braathens RJ100
Bahrain’s air force is to receive another BAE Systems Avro RJ100, one of the 10 Avros which had been withdrawn from the fleet of Swedish carrier Braathens Regional Airlines. Braathens Regional had been operating eight RJ100s and a pair of RJ85s but put the aircraft on the market, through Skyworld ...
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NewsCanada approves Air Canada’s acquisition of Transat
The Canadian government has approved Air Canada’s takeover of vacation specialist Transat AT, subject to numerous conditions.