News from FlightGlobal – Page 540
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NewsLufthansa poised for bailout as key shareholder set to back plan
A vital €9 billion ($10.1 billion) state bailout of Lufthansa is set to be approved at an extraordinary general meeting today after key shareholder Heinz-Hermann Thiele indicated he would support the deal. Lufthansa had earlier this month said the €9 billion financial support package agreed with the German government to ...
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NewsIcelandair reaches crucial restructuring pact with cabin crew union
Icelandair Group has achieved a breakthrough in its restructuring efforts, with a provisional productivity agreement with cabin crew representatives. While the company had reached new deals with its pilots and aircraft mechanics, cabin crew union FFI was holding out and Icelandair Group was pessimistic over progress. But it states that ...
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NewsQantas to retire 747s immediately, axe 6,000 staff in three-year recovery plan
The Qantas Group will be retiring its fleet of six Boeing 747s immediately — six months ahead of schedule — and ground 100 aircraft for up to a year, as part of cost saving measures that will also see about 20% of its employees axed. Taken together, Qantas says the ...
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NewsQantas Group plans A$1.9 billion equity raise
Qantas Group will raise up to A$1.9 billion ($1.3 billion) in equity capital to strengthen its balance sheet, as part of a three-year plan to accelerate its recovery from the Covid-19 crisis. This encompasses A$1.36 billion from a fully underwritten institutional placement, and up to A$500 million from a non-underwritten ...
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NewsIATA calls for layered alternative to quarantine
IATA has highlighted research findings that quarantine effectively shuts down passenger demand for air travel, and is urging governments to adopt a variety of alternative measures to minimise the risk of importing coronavirus via infected passengers. The airline association’s proposed framework consists of measures to prevent sick people from traveling ...
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NewsWestJet permanently cuts more than 3,000 jobs
Canada’s WestJet has permanently cut more than one third of its remaining workforce as the effects of the pandemic force the airline to reduce and outsource services in an effort to continue cutting costs.
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NewsEasyJet to reinforce cash position with expanded share issue
UK budget carrier EasyJet is aiming to raise £400-450 million through issuing new shares equating to just under 15% of the current share capital. Up to 59.54 million shares will be placed through an immediate accelerated bookbuilding process. EasyJet has started restoring flight operations after an 11-week grounding. It says ...
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NewsIATA sees industry billings system holding firm
IATA believes its billings and settlements plan (BSP) system that supports air travel industry transactions has held firm during the liquidity strain facing airlines and travel agents during the Covid-19 crisis.
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NewsKorean carrier Hi Air buys two second-hand ATRs for growth
Korean start-up Hi Air has purchased two ATR 72-500s from the turboprop manufacturer.
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NewsPIA A320 crew lowered, then raised, undercarriage before gear-up touchdown
Investigators have revealed that the crew of a crashed Pakistan International Airlines Airbus A320 did attempt to lower the landing-gear during their first approach to Karachi, but raised the gear lever again during the descent. The Civil Aviation Authority of Pakistan confirms that the A320 touched down on Karachi’s runway ...
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NewsGround-support firm Swissport to axe half of UK handling personnel
Ground-handling company Swissport has disclosed plans to cut more than 4,000 jobs in the UK, three months after it joined other handlers in urging financial support for the sector. The company says the number of aircraft operating is insufficient to maintain its full complement of staff. “It is with regret ...
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NewsGovernment reviewing funding proposals for restructuring SAA
South Africa’s government is claiming to have received a number of unsolicited proposals to fund a new national airline in the aftermath of South African Airways’ business rescue process. These proposals have been received from private-sector funds, equity investors, and potential airline partners, says the government’s department of public enterprises. ...
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NewsNokScoot cuts staff and returns aircraft to rationalise ops
NokScoot is making an unspecified number of staff redundant, and returning three aircraft by month-end, as part of a rationalisation of its business amid the pressures of the Covid-19 pandemic. “Following a review of our operations, NokScoot has taken steps to rationalise our business to cope with the huge impact ...
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NewsCongressional watchdog urges DOT to create coronavirus prevention plan
The US Government Accountability Office (GAO) has again recommended the US Department of Transportation (DOT) develop a national aviation preparedness plan to respond to communicable diseases like the coronavirus pandemic which brought the air transport industry to a near-standstill earlier this year.
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NewsAlaska Airlines to bring E175s to Alaska
Alaska Airlines will be adding Embraer 175 regional jets to its fleet flying within the state of Alaska, bringing in the smaller-gauge aircraft on routes that would not be profitable using larger jets.
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NewsEmirates to return A380 to service on 15 July
Emirates will begin reactivating its Airbus A380 fleet in mid-July with the reintroduction of the superjumbo on flights to Europe.
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NewsAmerican adds $2bn to balance sheet
American Airlines has priced its common stock offering and convertible bond raising nearly $2 billion.
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NewsTurkey’s SunExpress to axe German airline operation
German-Turkish leisure carrier SunExpress is shutting its German division as part of a revamp of its operations which includes concentrating on its core business. Although SunExpress has gradually resumed flights since 1 June, restoring both domestic and international services, it says the coronavirus crisis “hit hard” during April and May. ...
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NewsUral Airlines starts restoring fleet to passenger configuration
Russian carrier Ural Airlines has started reconverting aircraft back to passenger configuration, having temporarily modified them to operate as freighters. Ural Airlines says it converted 12 of its 48 jets to cargo configuration as passenger traffic bled away and freighter capacity demand rose during the coronavirus crisis. The operator has ...
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NewsComair rescuers seek time to consider funding offer
South African carrier Comair’s rescue practitioners are exploring a potential offer of funding for the airline, and are seeking a further postponement to publication of a business plan. The practitioners have not identified the group behind the non-binding expression of interest. But they state that the offer of cash funding ...