News from FlightGlobal – Page 517
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NewsEl Al granted delivery deferral for final 787
Israeli flag-carrier El Al has been granted a deferral to the end of November for delivery of its final Boeing 787, after the air transport crisis interrupted its fleet renewal schedule. It has signed agreements for a $122 million financing of the 787-8 in February – based on a JOLCO ...
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NewsNorwegian warns more cash needed to survive crisis
Restructuring low-cost carrier Norwegian has warned it will require further financing next year to survive the winter as coronavirus-related travel restrictions continue to hamper the recovery in air travel
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NewsVistara starts London flights under ‘transport bubble’ arrangement
Indian carrier Vistara has commenced thrice-weekly flights between Delhi and London Heathrow under a bilateral “transport bubble” arrangement, and is in discussions to operate to other European countries. London Heathrow, which it will operate from 28 August to 30 September, will be the carrier’s first long-haul destination in its ...
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NewsVirgin Atlantic to serve Pakistan from London and Manchester
Virgin Atlantic will begin operating routes from London Heathrow to Lahore and Islamabad and from Manchester to Islamabad in December. The carrier is looking to take advantage of relatively resilient demand for visiting friends and relatives, and to take a slice of cargo trade between Pakistan and the UK. Pakistan ...
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NewsEl Al loss quadruples over first half
Israeli flag-carrier El Al’s first-half pre-tax loss has nearly quadrupled, to $270 million, compared with last year’s interim figure. El Al also posted a net loss of $244 million in contrast with the previous half-year deficit of $55 million. Its revenues for the six months to 30 June halved to ...
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NewsFiji Airways quashes insolvency rumours
Fiji Airways has rejected what it describes as injurious media speculation about its financial health. ”Fiji Airways is not insolvent by any definition of the word, whether you look at our cash flow or our balance sheet,” managing director and chief executive, Andre Viljoen said in a statement on 27 ...
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NewsAir New Zealand posts first loss in 18 years
Air New Zealand reported an NZ$87 million ($58 million) underlying loss for the financial year (FY) ended 30 June, as the Covid-19 pandemic swiftly changed its fortunes during the reporting period. “The 2020 financial year has been a year of stark contrast. Air New Zealand had a solid start to ...
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NewsAirAsia X posts record quarterly loss amid ongoing grounding
Beleaguered long-haul, low-cost carrier AirAsia X will remain grounded “in the near term”, as it trims its fleet and network amid a record operating loss. The carrier, which only operates international routes, is also looking to sell two Airbus A330 aircraft to raise cash, and negotiating the early return of ...
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NewsCzech carriers apply for protection to stabilise finances
Czech operator Smartwings Group has formally sought temporary creditor protection to buy time to achieve financial stability during the air transport downturn. Smartwings Group, which includes both Smartwings and Czech Airlines, says it has filed with a Prague court for an extraordinary moratorium. The temporary measure provides space to negotiate ...
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NewsAir Baltic half-year net loss grows sevenfold amid crisis
Latvian carrier Air Baltic generated a €185 million ($215 milion) net loss during the first six months 2020, representing a nearly sevenfold increase from a €26.6 million loss in the same period last year.
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NewsGermany to abandon airport testing and reimpose quarantine
Germany is expected to announce this week that it will replace Covid-19 testing at airports for passengers from high-risk countries with a mandatory quarantine period of up to 14 days, prompting dismay from airline representatives.
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NewsCrisis interrupts Croatia Airlines talks to cancel A320neo order
Croatia Airlines has disclosed that it has been discussing the cancellation of its Airbus A320neo order, the latest twist in a single-aisle situation dating back 12 years. Its order for four of the re-engined jets was placed in September 2015 – four months before the type entered service – with ...
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NewsGovernment extends deadline for Air India sale yet again
The Indian government has extended the deadline for the sale of flag carrier Air India by a further two months, attributing it to the Covid-19 pandemic. In an eighth corrigendum published by the Department of Investment and Public Asset Management, the deadline to submit of expressions of interest has been ...
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NewsAirAsia to focus on domestic recovery amid widened Q2 loss
AirAsia Group anticipates a return to profitability “in the years to come”, with demand — particularly for domestic travel — expected to increase in the second half of the year. At the release of its second-quarter financial results, group chief executive Tony Fernandes says AirAsia Group has reduced its costs ...
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NewsSpirit pilots agree to deal preventing 600 layoffs
Spirit Airlines’ pilots have agreed to work fewer hours as part of a deal that will prevent the airline from needing to lay off 600 of pilots.
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NewsVirgin Atlantic creditors back rescue plan
Virgin Atlantic’s recapitalisation efforts have been boosted after creditors voted in favour of its restructuring plan.
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NewsEurope’s air travel recovery runs out of steam
The rebound in the levels of aircraft being operated in Europe has stalled, with indications that several airlines are beginning to pull back on capacity.
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NewsFinnair to cut 1,000 jobs and continue temporary layoffs
Finnair has started negotiations to cut up to 1,000 permanent jobs – 15% of its total workforce – amid “exceptionally tight” travel restrictions in its home country.
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NewsFinnair seals A350 sale-and-leaseback to bolster cash position
Finnair has flagged an immediate positive cash effect in excess of €100 million after finalising the sale-and-leaseback of one of its Airbus A350 aircraft.
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NewsSAS impairs older fleet as it pushes back Airbus deliveries
SAS has pushed back deliveries of two Airbus A350-900s and eight A320neos, which will reduce the Scandinavian operator’s capital expenditure for 2021-24. But the company insists it is “still committed” to achieving an all-Airbus fleet by 2023, to reduce fuel consumption and maintenance costs. “We have made progress on our ...