News from FlightGlobal – Page 491
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NewsLufthansa to scale winter capacity back after further losses in third quarter
Lufthansa Group will cut capacity to no more than a quarter of previous-year levels for the rest of the 2020 after disclosing a third-quarter net loss of almost €2 billion ($2.3 billion).
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NewsRex takes its first 737-800
Australia’s Regional Express (Rex) has taken delivery of its first of six Boeing 737-800 aircraft, as it mulls taking up to 10 examples by the end of 2021. The aircraft, stripped of its previous livery save for a ring of red round the engine nacelles, arrived in Sydney on 5 ...
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NewsWizz Air confident of surviving worst-case winter
Budget carrier Wizz Air is confident that it would be able to survive a severe deterioration in the air transport crisis, having considered scenarios in which the entire fleet had to be grounded for the second half of the year. Wizz Air turned in a net loss of €243 million ...
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NewsThai puts 34 aircraft on sale, including entire 747 fleet
Embattled Thai Airways has put up its entire Boeing 747 and its 777-200/300 fleet up for sale, as it aims to raise cash amid a long-drawn business rehabilitation process. The Star Alliance carrier disclosed on its aircraft trading website that 34 aircraft from its fleet will be put up for ...
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NewsAirAsia X makes creditor status concession to Malaysia Airports
AirAsia X (AAX) has agreed to classify Malaysia Airports as a secured creditor, as it seeks to expedite its massive debt restructuring programme. “After consultation, AirAsia X has accommodated [Malaysia Airports] and made certain clarifications and revised the scheme under two separate classes ’A’ and ‘B’,” says the carrier in ...
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NewsTigerair Taiwan gets capital boost from parent China Airlines
China Airlines plans to inject more capital into low-cost unit Tigerair Taiwan, as part of a move to “optimise the capital structure” of the LCC. The SkyTeam carrier discloses that it will pump about NT$657 million ($23 million) into Tigerair Taiwan, bringing its total shareholding to nearly 76%. ...
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NewsPandemic shakes banks’ trust in state support of flag carriers
The Covid-19 crisis has forced lenders to reassess their traditional view of flag carriers as relatively safe credits due to their implied government support, two aviation financiers have suggested. Going into the crisis in March, Deutsche Bank’s Richard Finlayson expected Asian governments to be more supportive of their airlines and ...
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NewsTurkish A350s quietly begin operations as crisis saps profits
Turkish Airlines has been operating its newly-delivered initial pair of Airbus A350-900s on domestic routes, but has yet to confirm a schedule for the remaining aircraft. The airline had 25 A350s on order but, while it had been intending to take five this year, the carrier has not detailed the ...
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NewsBrazil’s Gol reports Q3 loss, sees important recovery metrics
Brazilian airline Gol lost R1.7 billion ($301 million) in the third quarter but sees signs of industry improvement, as leisure passengers return to air travel.
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NewsNok Air green-lit to pursue restructuring
Nok Air has gained court approval to restructure under a business-rehabilitation process. In a 4 November notice to the Thai stock exchange, Nok chief executive Wutthiphum Jurangkool states that the central bankruptcy court has “ordered granting the company to be in business rehabilitation”. Source: Nok Air The 737-800 ...
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NewsAirline passenger demand ‘hit wall’ in September: IATA
Weak international travel demand continued to weigh heavily on the airline industry’s performance in September, according to the latest data from IATA.
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NewsQatar Airways activates Boeing 787-9 fleet
Qatar Airways has begun operating its Boeing 787-9 fleet, putting four of the long-haul twinjets into service.
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NewsGerman carrier Sundair in restructuring under ‘protective shield’
Sundair has launched a restructuring process under a ‘protective shield’ procedure that enables the German leisure airline to continue operations. It tells Cirium that the process, enshrined in German legislation, is not an insolvency procedure, but rather applies to companies that “recognise business problems at an early stage” and have ...
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NewsWhat messages do BA and EasyJet chiefs have for Greta Thunberg?
Sustainability was firmly establishing itself as the airline industry’s greatest long-term challenge before the coronavirus pandemic hit.
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NewsLanding 747 crew unaware of short runway before striking construction vehicles
Nigerian investigators have disclosed that the crew of a Boeing 747-200 freighter did not receive critical information about reduced available landing distance at Abuja before the aircraft landed, veered off the runway and collided with construction equipment. The Armenian-registered Veteran Avia aircraft (EK-74798) had been operating a wet-lease cargo service ...
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NewsStobart bids for fresh Aer Lingus deal to speed regional airline sale
Stobart Group has entered a tender to secure a long-term flying agreement with Aer Lingus beyond 2022 as part of its effort to dispose of regional carrier Stobart Air before the end of March 2021.
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NewsUAE’s Flydubai to open Israeli services in November
United Arab Emirates operator Flydubai is to open services to Tel Aviv this month, following the normalisation pact signed between the Gulf state and Israel. Flydubai says it will carry out a twice-daily service between Dubai and Tel Aviv from 26 November. The carrier uses a fleet of Boeing 737-800s ...
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NewsJazeera liquidity ‘sound’ as losses persist in third quarter
Kuwaiti carrier Jazeera Airways is confident that it remains a going concern, with sufficient resources, after turning in a KD5.6 million ($18.3 million) third-quarter net loss. The performance brings overall net losses, for the nine months to 30 September, to KD15.5 million. Jazeera Airways says there is a “risk of ...
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NewsQantas, Jetstar gear up for Sydney-Melbourne reboot
Qantas and low-cost unit Jetstar plan to operate “thousands of flights” following the decision by the New South Wales state to open its borders from 23 November. The border opening to Victoria state will see the two carriers operate over 250 flights across five routes, to Victoria’s capital Melbourne and ...
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NewsPool of financeable airlines down to a handful: Wings Capital
The pool of airlines that lenders are willing to accept as collateral has gone “really just down to a handful” amid the Covid-19 pandemic, the chief financial officer of Wings Capital Partners has said. At the beginning of the crisis, everyone in the industry was “just trying to assess what ...