News from FlightGlobal – Page 529
-
NewsThai Airways details creditor claims amounting to Bt85 billion
Thai Airways International has disclosed details of Bt85 billion ($2.7 billion) in creditor claims it received among others, citing these as “one of the reasons why the company has filed for the rehabilitation petition”. CIMB Thai Bank and Islamic Bank of Thailand requested in May the repayment of principal and ...
-
NewsVistara takes first Airbus A321neo
Indian-Singaporean joint venture carrier Vistara took delivery of its first A321neo on 23 July. “This new addition to our fleet reinforces our long-term commitment to international expansion plans, despite the challenges of the current times,” says Leslie Thng, Vistara’s chief executive. Source: Airbus Vistara’s first A321neo has been ...
-
NewsFinnair expects to restore 50% of flights by September
Finnair is expecting to rebuild its services over the third quarter, operating around 50% of its pre-crisis flight capacity by September, up from the figure of 25% in July. It aims to carry out 120 daily flights in August and increase this to 190 in September. The airline turned in ...
-
NewsSIA uses A350-900 and 787-10 aircraft to raise liquidity
Singapore Airlines Group has raised an additional S$750 million ($540 million) from long-term loans secured by an unspecified number of Airbus A350-900 and Boeing 787-10 aircraft. Cirium fleets data show that within SIA Group’s in-service and stored fleet, mainline carrier SIA owns and operates 48 A350-900s and 15 787-10s. Including ...
-
NewsCharter carrier Jet Time collapses but owner plots Nordic successor
Danish charter carrier Jet Time is filing for bankruptcy, the latest air transport casualty of the crisis triggered by the coronavirus pandemic. Jet Time states that the restrictions on travel and closed borders have proven “too great a challenge” for the operator. Chief executive Jorgen Holme is submitting the filing ...
-
NewsSouthwest sees recovery as ‘long saw-toothed slog’
Southwest Airlines reported a $915 million loss for the second quarter and says it expects customer demand to return to pre-coronavirus levels only once there is a vaccine to protect travellers.
-
NewsAmerican losses top $2bn as crisis hammers airline in second quarter
American Airlines posted a net loss of $2.1 billion during a devastating second quarter as the coronavirus brought air travel and the global economy to a near-standstill.
-
NewsKLM focuses on destinations over frequencies as network recovers
Dutch carrier KLM is ramping up the number of destinations it serves, but frequencies will remain well down year-on-year.
-
NewsAlaska posts $214m Q2 loss as cash outflow slows
Alaska Air Group has slashed 300 management jobs and bolstered its available cash in recent weeks in an effort to weather a crisis that left the company $214 million in the red during the second quarter.
-
NewsAlaska eyes Oneworld membership by year-end
Alaska Airlines hopes to complete its entry into Oneworld by the end of the year after the alliance formally invited the US carrier to become its 14th member.
-
NewsEl Al must issue shares before state will back loan
Israeli flag-carrier El Al must carry out a planned $150 million share issue by the end of August, before the country’s government will back a $250 million bank loan. The conditions have been outlined in a 22 July letter from the ministry of finance. El Al opted in early July ...
-
NewsPandemic interrupts UK charges row over space-based ADS-B
Full resolution of a dispute over a new UK airspace charges, intended to pay for controversial space-based oceanic surveillance, has been deferred after the coronavirus crisis interrupted the effort to settle the clash. The dispute between en route navigation provider NERL and the Civil Aviation Authority – which has been ...
-
NewsJeju Air scraps Eastar Jet acquisition
South Korea’s Jeju Air has scrapped plans to acquire a majority stake in compatriot low-cost carrier Eastar Jet. Jeju says in a stock exchange disclosure that the stock sale contract was cancelled due to violation of key terms and an overdue transaction closing period, without going into details. It says: ...
-
NewsTaiwan passes proposal for China Airlines renaming
Taiwan lawmakers have approved a proposal to rename national carrier China Airlines, paving the way for a possible rebranding. The proposal, first mooted by the ruling Democratic Progressive Party caucus, calls on the island’s transport ministry to study and propose a phased plan to “strengthen China Airlines’ international recognition,” ...
-
NewsSpirit warns of tough third quarter
Spirit Airlines says its flexible network and lower fuel and flight operations costs helped it weather the coronavirus storm in the second quarter, and expects the next months to continue to be volatile as the pandemic drags on.
-
NewsBA pilots vote on pay cuts and ‘holding pool’ to reduce job losses
British Airways pilots are to be consulted on a package involving pay cuts and a series of other measures intended to protect crew jobs, with the cockpit union admitting the conditions of the deal are unlikely to be bettered. Cockpit union BALPA has been discussing ways to avoid cutting over ...
-
NewsUnited refrains from retiring aircraft, stands ready to expand long-haul travel
United Airlines has no plans to retire aircraft following the devastating coronavirus crisis, saying it stands ready to resume normal services and to offer more long-haul flights to overseas destinations once travel restrictions lift.
-
NewsWizz Air chief predicts 100-aircraft Abu Dhabi operation
Wizz Air Abu Dhabi can mimic the fleet growth seen at the carrier’s European operation and reach 100 aircraft in 15 years’ time, according chief executive Jozsef Varadi.
-
NewsAirlines call for joint Europe-USA coronavirus testing programme
Chief executives at IAG, Lufthansa, American Airlines and United Airlines have written a letter to US vice-president Mike Pence and European home-affairs commissioner Ylva Johansson, urging them to adopt a joint Covid-19 testing programme to enable transatlantic passenger flights to resume.
-
NewsAirline ‘paper profits’ useless in a crisis: Wizz Air chief
An important lesson from the coronavirus crisis is that too many airlines focus on “paper profits” at the expense of genuine liquidity, according to Wizz Air chief executive Jozsef Varadi.