News from FlightGlobal – Page 535
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NewsHi Fly confirms LHT oversaw A380 freighter conversion
European wet-lease operator Hi Fly has brought into service a freight-optimised Airbus A380, which has been temporarily converted from passenger configuration in a project overseen by Lufthansa Technik.
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NewsUK cabin crew join Ryanair pilots in accepting temporary pay cuts
Ryanair cabin crew members based in the UK have agreed to a temporary pay cut of up to 10% to avert job losses at the airline.
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NewsAir Mauritius seeks buyers for five aircraft
Air Mauritius has put three Airbus widebodies and two single-aisle aircraft up for sale, weeks after entering voluntary administration amid the Covid-19 crisis.
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NewsIBA highlights four-engined widebody pain as airliner values decline
Aviation consultancy IBA has outlined adjustments to all its commercial airliner market values to reflect the impact of the coronavirus pandemic. Older four-engined widebodies and the Boeing 737 Max are among the worst affected, while “uncertainty” hangs over the Airbus A380.
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NewsSAA pilots isolated as other unions gradually back severance scheme
South African Airways unions have largely indicated acceptance of voluntary severance packages as part of the airline’s rescue, after the government warned that workers’ representatives that it cannot improve on the severance offers. Cockpit union SAAPA has not followed other unions’ gradual shift into accepting the proposals, but it appears ...
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NewsEl Al to slash workforce as part of rescue package agreements
Israeli flag-carrier El Al is set to shed 1,700 positions across three divisions as part of a restructuring programme. The airline says it has reached new collective agreements with its maintenance and administrative sectors. Chief executive Gonen Usishkin says the arrangement is “another step on the road to El Al’s ...
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NewsCathay Pacific mulls parking aircraft outside Hong Kong
Cathay Pacific Group is considering parking some aircraft outside of its Hong Kong base to protect them from the city’s hot and humid summer. The company tells Cirium it is looking into this “for operation management reasons”. “At the present time our aircraft are parked at Hong Kong International Airport, ...
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NewsAuditor questions AirAsia Group’s survival
Accounting firm Ernst & Young has questioned the AirAsia Group’s ability to remain a going concern, citing deteriorating finances amid the coronavirus pandemic. It notes that the group suffered a full-year net loss of MYR283 million ($66 million) in 2019, a year in which liabilities exceeded assets by MYR1.8 billion. ...
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NewsAerCap sees big drop in Q2 lease agreements
Lessor AerCap signed lease agreements covering only 10 aircraft in the second quarter of 2020, down from 48 in the same period last year. The 10 aircraft comprise one widebody and nine narrowbodies, while in Q2 2019 AerCap signed deals for four widebodies and 44 narrowbodies, says the company. Aircraft ...
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NewsJiangxi Air applies to start international operations
Chinese carrier Jiangxi Air has applied to the country’s civil aviation authorities to start international passenger and cargo operations. A notice from the Civil Aviation Administration of China (CAAC) states the Nanchang-based airline had applied to be able to fly to Hong Kong, Taiwan, as well as flights to “neighbouring ...
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NewsKorean Air to sell in-flight catering and retail businesses
Korean Air is selling its in-flight catering and duty-free businesses and has signed a memorandum of understanding with local private equity fund, Hahn & Company. The investment firm describes itself as “specialising in buyouts and corporate restructurings in South Korea”, according to its website. Korean said in a statement today ...
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NewsUnited sees cancellations rise, warns of furloughs
United Airlines says cancellations of forward bookings are once again rising due to new travel restrictions and increasing numbers of coronavirus cases across the southern sun belt states, prompting a warning that furloughs will be inevitable.
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NewsCanada’s Nolinor announces launch of new airline
Canadian passenger and freight charter airline Nolinor Aviation has announced plans to launch a new airline later this year despite the coronavirus crisis that has decimated much of the travel industry.
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NewsAeromexico looks to quit 19 aircraft leases
Grupo Aeromexico, the parent company of Mexico’s flag carrier, has petitioned to be released from aircraft and engine leases as it seeks to shrink its fleet to reduce costs.
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NewsVolaris chief lauds flexible cost base but fleet will be flat to 2023
Mexican ultra-low-cost carrier Volaris is weathering the coronavirus storm thanks to its variable cost base, but still expects its fleet size to be flat through to 2023 as demand inches back.
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NewsBlue Air takes creditor protection step as it rebuilds network
Romanian carrier Blue Air has taken a preventative measure under local insolvency law as it further restores its network after the coronavirus grounding. Blue Air says it has taken the protective measure of ’concordant procedure’ - a preventative action under which companies seek to reach agreement with creditors. ...
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NewsKenya to reopen international flights on 1 August
Kenya has become the latest African country to announce dates for the resumption of scheduled flights, amid reports that its flag carrier plans to make job cuts ahead of a possible nationalisation.
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NewsAeroflot chief sets out expectations for restoration of international network
Russia’s Aeroflot Group is hoping to restore 80% of its international services by the end of this year, and restore the network fully by the end of the winter season in March 2021. Chief executive Vitaly Saveliev has outlined the ambition during a meeting with Russian president Vladimir Putin. Saveliev ...
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NewsLufthansa halves new-aircraft intake and cuts jobs
Lufthansa will halve the number of new aircraft it takes through to end-2023 as part of a second set of restructuring measures announced today.
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NewsVirgin Australia bondholders challenge sale to Bain Capital
Two parties representing Virgin Australia bondholders have challenged the airline’s sale to Bain Capital with the intention of making an alternative proposal. In an application to the Australian Takeovers Panel, Singapore-based fund manager Broad Peak Investment Advisers (Broad Peak) and Hong Kong’s Tor Investment Management submit that “certain circumstances regarding ...