All news – Page 964
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NewsRyanair taking €300m charge over fuel-hedge ineffectiveness
Budget carrier Ryanair is predicting net profits of €950 million-1 billion for 2019-20 as the tail-end of its fiscal year started suffering the effects of the coronavirus crisis. It states that it is conducting fewer than 20 flights daily, and expects its fleet to stay “largely grounded” for at least ...
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NewsAPAC passenger demand to fall 37%, wipe out $88b in 2020: IATA
IATA expects a 37% decline in Asia-Pacific passenger demand this year from the coronavirus pandemic, wiping out $88 billion in revenue. This is based on a scenario where severe travel restrictions last for three months, followed by a gradual recovery, the trade association said today. Conrad Clifford, IATA’s regional vice ...
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NewsCathay Pacific cuts long-haul schedule further for April
Cathay Pacific has announced further cuts to its long-haul schedule for April, with 97% of planned passenger capacity now scrapped. The carrier had already announced on 20 March that it was reducing capacity by 96% for April and May. As part of what it terms a “bare skeleton” schedule, the ...
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NewsFebruary travel demand slump worst since 9/11: IATA
Collapsing domestic travel in Mainland China — the epicentre of the coronavirus outbreak — coupled with falling travel demand to and from the Asia-Pacific region, led to the sharpest drop in demand in almost two decades. Releasing its global passenger traffic data for February, IATA says RPKs for the ...
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NewsSIAEC details additional measures to mitigate coronavirus hit
SIA Engineering (SIAEC) is stepping up efforts to mitigate the impact of the coronavirus crisis, including bigger management pay cuts and the deferral of non-essential capital expenditure. The company is also planning to boost its own liquidity in what it described as “the increasingly difficult business environment” in a 2 ...
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NewsUS awards Lockheed $512 million for Bulgarian F-16 production
The US government has awarded Lockheed Martin $512 million to produce eight F-16 Block 70 fighters for Bulgaria. The project is expected to be completed by 31 January 2027, says the US Department of Defense in a contract announcement. The work will take place in Fort Worth, Texas and at ...
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NewsCanberra not keen to bail out Virgin Australia: report
Virgin Australia may not get the government support it is seeking, according to local media reports. Citing sources, the Australian Financial Review reported on 2 April that the federal government wants two strong airlines after the coronavirus crisis and would help a new carrier enter the market if Virgin Australia ...
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NewsUS Navy awards Boeing $84.7m for three more MQ-25A unmanned refuelling tankers
The unmanned air vehicles are expected to be complete by August 2024. The company is now on contract to manufacture seven examples of the aircraft.
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In depthUSAF gives Boeing $882m to help cash flow and fix KC-46 boom camera
As fallout from the coronavirus pandemic further pinches Boeing’s cash flow – financials already hurt by the grounding of the 737 Max – the US Air Force (USAF) has decided to release $882 million in payments withheld from the company in order to help fix a troublesome problem with the Boeing KC-46A refuelling camera boom.
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NewsIAG cancels planned dividend payment
IAG is withdrawing its proposal to pay a €0.17-per-share final dividend to investors, following the coronavirus shutdown. The group will instead propose, at its annual shareholders’ meeting, that all of its 2019 profit – save that already paid as an interim dividend – be added to voluntary reserves. IAG‘s board ...
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NewsEmirates to resume some flights on 6 April
Emirates plans to resume flying a limited number of passenger services on 6 April, having received approval from UAE authorities. Sheikh Ahmed bin Saeed Al Maktoum, president of Dubai Civil Aviation as well as chairman and chief executive of Emirates, has tweeted that “these flights will initially carry travellers outbound ...
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NewsFreight rates on the rise amid slump in passenger flights
Air freight rates are rising and cargo carriers ramping up their utilisation to fill the gap left by grounded bellyhold capacity on passenger jets. Normally, nearly half of global air cargo is carried in passenger jets’ bellies. Total cargo capacity, adjusted to include the Lunar New Year, fell 4.4% in ...
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NewsAmerican Airlines cuts summer schedule
American Airlines says its summer 2020 schedule will reflect the realities of the decline in demand after the global coronavirus pandemic.
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NewsUS discount airlines urge rethink of strings attached to aid package
Ultra-low cost carriers Allegiant Air, Frontier Airlines and Sun Country Airlines have raised objections to a US Department of Transportation (DOT) show cause order that requires airlines who accept government aid to maintain a minimum level of service.
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NewsUS special forces Armed Overwatch light-attack demo scheduled for November
The US Special Operations Command (SOCOM) plans to conduct a flight demonstration for its Armed Overwatch light attack aircraft prototyping project in November 2020.
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NewsIAG cuts capacity by 90% as BA puts cabin crew and pilots on leave
IAG is to cut capacity by around 90% during April and May, up from the figure of 75% previously indicated. The group’s British Airways division has confirmed it will put more than 30,000 cabin crew and ground-based employees on furlough for the two-month period. BA will apply to take advantage ...
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NewsStruggling European business aviation industry calls for safeguards
Business aviation industry bodies are calling on European policy-makers and regulators to “protect the continuity and survival” of the sector in the face of the Covid-19 pandemic.
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NewsLATAM slashes April capacity 95%
LATAM Airlines has decreased its operation-wide capacity in April by 95%, citing border closures and lower demand because of the coronavirus pandemic.
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In depthSimulator tests demonstrate 737 Max manual trim difficulties
Simulator tests conducted last year provide insight into flight scenarios that can leave Boeing 737 Max pilots struggling or unable to manually trim the aircraft back to level flight.
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NewsBA to furlough 30,000 staff: GMB union
British Airways will furlough more than 30,000 employees under the UK government’s job-retention scheme amid the coronavirus crisis, in a move the GMB union describes as “a relief”. “GMB and our sister union Unite have fought hard to secure members’ terms, conditions and job security. We believe the current deal, ...