All news – Page 970
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NewsGround-handler Menzies halves active workforce as airline operations evaporate
Ground services firm Menzies has temporarily halved its active global workforce, as it assesses the impact of the coronavirus outbreak on its operations. The company – which has some 32,000 personnel, across 34 countries – says it has reduced its headcount by 17,500, although it stresses that these are not ...
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NewsAirAsia and AirAsia X to be grounded from 28 March
Malaysian low-cost carriers AirAsia and AirAsia X will suspend operations from 28 March due to growing border restrictions imposed by various countries amid the coronavirus pandemic. AirAsia will be grounded until 21 April, while long-haul sister carrier AirAsia X is to be grounded until 31 May, says AirAsia Group, which ...
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NewsAPAC airports could lose $23.9 billion revenue: trade association
The coronavirus crisis could have a $23.9 billion impact on revenue for Asia-Pacific airports this year, according to estimates by the Airports Council International (ACI) Asia-Pacific. In comparison, those in the Middle East could see a revenue shortfall of $5.7 billion, and ACI urged governments to help safeguard airports in ...
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NewsUnited agrees $500 million term loan with Goldman Sachs
United Airlines has agreed to borrow $500 million from Goldman Sachs Bank USA in the form of a one-year secured term loan. The Chicago-headquartered carrier will use the loan for related transaction costs, fees and expenses, and for working capital and other general corporate purposes. It has pledged some of ...
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NewsSaab commences production of first Brazilian Gripen F
Saab has cut metal on the first two-seat Gripen F for the Brazilian air force. The first part cut for the aircraft will form part of the jet’s air duct section, just behind the fighter’s cockpit, says Saab. Video: First Metal Cut Gripen F to Brazil ...
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NewsMeggitt secures engine component support deal with JAL
Meggitt has secured a three-year contract with Japan Airlines (JAL) to provide engine component maintenance and repair services for the airline’s Boeing 737s, 767s, and 777s. The work will take place at Meggitt’s expanded facility at Singapore’s Seletar Aerospace park, says the MRO firm. It adds that the deal could ...
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NewsChina cuts overseas flights to stem imported coronavirus cases
The Civil Aviation Authority of China (CAAC) is further cutting the number of international flights allowed by both local and foreign carriers, in a bid to contain the “increasing risks” of imported coronavirus cases. Effective 29 March, each Chinese airline is allowed to operate just one route to any specific ...
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NewsAsia-Pacific carriers had dismal month in February: AAPA
Preliminary traffic figures from the Association of Asia Pacific Airlines show that regional air traffic plunged in February. Owing to the coronavirus outbreak, regional airlines experienced a 43.9% year-on-year collapse to 17 million passengers during the month. RPKs fell 34.8% and available seats fell 20.6%. Load factors fell 14.4 percentage ...
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NewsICAO welcomes government support for aviation sector
UN aviation body ICAO welcomed a statement from G20 countries to aid in the global recovery from the coronavirus pandemic, highlighting that aviation is one of the worst-hit sectors. The G20 said on 26 March it will do “whatever it takes” to overcome the pandemic, and will continue to “conduct ...
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NewsQatar Airways opens Brisbane service amid Coronavirus
The coronavirus pandemic has opened a new route for Qatar Airways, which will operate flights to Brisbane for the first time and increase services to Australia to help people get home. The Doha-based carrier said on 26 March it will add 48,000 seats from 29 March and use larger aircraft ...
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NewsSingapore Airlines boosts liquidity amid coronavirus crisis
Singapore Airlines is planning to issue S$5.3 billion ($3.7 billion) in equity and S$3.5 billion in 10-year mandatory convertible bonds in order to raise liquidity as demand for air travel slumps globally. The company will raise an initial tranche of S$3.5 billion via the convertible bond, with the option to ...
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NewsAmericas 26 March recap: US Senate passes bill, Embraer sees deferments
The US Senate passed an economic stimulus bill designed to support workers and industries, including the airline sector, after the global coronavirus crisis ravaged the economy in past weeks.
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NewsAerospace defence firms try stopping coronavirus from spreading in their factories
While the rest of the world shuts down, aerospace defence manufacturers are expected by the US Department of Defense (DoD) to keep turning out aircraft.
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AnalysisUS government aid to aerospace could mean oversupply in future, but avert ‘catastrophe’ now: analyst
While government support would provide vital relief to US aerospace manufacturing at a time of impending crisis, such aid could create a “synthetic” aircraft market to the detriment of the industry in future years.
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NewsUS Senate approves economic aid, bill moves to House
The US Senate passed an economic stimulus bill that is designed to support industry and workers after the global coronavirus crisis exploded, and ravaged the economy in the past three weeks.
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NewsSafran reinforces finances as outbreak exacerbates Max misery
French aerospace firm Safran has enhanced, in the wake of the coronavirus crisis, measures it had already been implementing in response to the grounding of the Boeing 737 Max. Safran’s activities include production of the CFM International Leap-1B engines for the Max as well as the Leap-1A powerplants for the ...
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NewsEl Al awaits state funding decision after halting passenger flights
Israeli flag-carrier El Al has opted to suspend all remaining passenger flights, as it awaits potential government financial support. El Al says the suspension, on 26 March, will continue until 4 April. It will continue to provide rescue and repatriation services as well as freight flights, some of which will ...
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In depthSpirit AeroSystems targets year-end opening of Scotland wing development site
Spirit AeroSystems expects by year-end to open a new facility in Prestwick, Scotland where it will research and develop manufacturing and production technologies aimed at helping the company land contracts to supply Airbus’ next single-aisle aircraft programme.
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In depthCash reserves give Boeing 10 months of breathing room, analysts suggest
Boeing should have sufficient liquidity to keep operating for eight to 10 months, possibly longer, according to analysts, despite speculation about its financial condition based on recent calls for $60 billion in government aid for the US aerospace industry.