All news – Page 886
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NewsHigher expenses, revenue collapse punish GMF AeroAsia H1 earnings
GMF AeroAsia fell deeper into the red for its half-yearly earnings, on the back of increased expenses and a significant decline in revenue, amid the economic downturn caused by the coronavirus outbreak. For the six months ended 30 June, the MRO unit of Garuda Indonesia posted an operating loss of ...
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NewsNok Air CFO resigns after less than three weeks
Nok Air’s chief financial officer Nuanwan Bhuprasert has resigned effective today, less than three weeks after starting the job and four days after the airline filed for bankruptcy protection. The budget carrier’s chief executive Wutthiphum Jurangkool will resume the role of acting CFO, effective 4 August. Nok Air did not ...
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NewsRussia orders S-70 Okhotnik ‘Hunter’ UAV deliveries accelerated to 2024
The accelerated delivery schedule was acknowledged publicly for the first time when Russian President Vladimir Putin met with UAC chief executive officer Yuri Slyusar for an update on the company’s product development plans.
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NewsFAA proposes four design changes to 737 Max in new AD
The Federal Aviation Administration (FAA) has suggested four key design changes to the beleaguered Boeing 737 Max in order to address safety issues that led to its almost 17-month grounding following two fatal crashes that killed 346 people.
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NewsUN An-74 badly damaged in Mali landing accident
One of Utair Group’s freighter aircraft, an Antonov An-74 TK-100, has been substantially damaged in an accident at Gao in eastern Mali. The United Nations Multidimensional Integrated Stabilisation Mission in Mali – known as MINUSMA – says the aircraft was landing at Gao after arriving from the capital, Bamako, at ...
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NewsRussian-powered MC-21 to fly before year-end and Il-114 sooner
United Aircraft is aiming to fly the first Russian-powered Irkut MC-21 before the end of this year, and the Ilyushin Il-114-300 as soon as September, the aerospace firm’s chief has informed President Vladimir Putin. The MC-21-310 variant will be fitted with Aviadvigatel PD-14 engines rather than the Pratt & Whitney ...
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NewsSupersonic skies looking crowded with entry from Virgin Galactic
The crowded field of aspirants to reintroduce commercial supersonic flight has got another contender with a surprise revelation from Virgin Galactic of a proposed Rolls-Royce-powered Mach 3 delta wing jet – bearing a striking resemblance to Concorde.
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NewsLeonardo slows arrival of Kopter SH09 helicopter as it integrates new acquisition
Leonardo Helicopters has slowed the service-entry schedule for its recently acquired Kopter SH09 light-single and is also likely to build the rotorcraft at an existing production plant in to the north of Italy rather than Switzerland as previously planned.
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NewsCan e-commerce deliver for airlines?
Passenger traffic growth is likely to remain sluggish for some time, but freight remains a bright spot for airlines
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NewsIAG’s Walsh warns against obtaining liquidity without structural reform
Outgoing IAG chief Willie Walsh has warned that obtaining liquidity will offer a false sense of security to airlines unless they fundamentally adapt their business to reflect a different post-crisis market. Walsh points out that British Airways’ second-quarter operating loss of £711 million eclipses that of previous crises – including ...
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NewsAir Europa acquisition remains justified: IAG’s Walsh
IAG is striving to close the acquisition of Air Europa by the end of this year, undeterred by the impact of the air transport crisis, although it is reviewing the structure of the €1 billion ($1.2 billion) deal in response to the downturn. While outgoing IAG chief Willie Walsh has ...
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NewsCovid-19 wipes out 78% of JAL’s first-quarter operating revenue
Japan Airlines posted a Y93.7 billion ($885 million) net loss in the April to June period, as Covid-19-related travel and quarantine measures nearly wiped out the carrier’s passenger revenues. Operating revenues declined by 78.1% year-on-year to Y76.3 billion in the first quarter of the fiscal year (FY) ending 31 March ...
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NewsTUI agreement further lifts BOC Aviation's 737 Max sale-and-leases
TUI Group has carried out a sale-and-leaseback of five Boeing 737 Max jets with the Singaporean-based lessor BOC Aviation. The European holiday company values the agreement – reached with UK subsidiary TUI Travel Aviation Finance – at $226 million. TUI Group is expecting the first of the Max 8s involved ...
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NewsP&W makes significant cuts to Singapore workforce
Pratt & Whitney, which in recent days refuted rumours that it had axed workers in Singapore, has cut a portion of its workforce in the city-state. The engine-maker, which has been affected by the pandemic-induced economic downturn, says it made the “difficult but necessary decision” to cut “less than ...
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NewsAlliance Aviation picks E190s, says Fokker fleet ‘remains core’
Australia’s Alliance Aviation has signed for 14 Embraer E190s — in a move to “position us for the next phase of growth” — but has stressed that its fleet of Fokker aircraft will remain in service for the foreseeable future. The deal, valued at $79.4 million, sees Alliance entering ...
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NewsVietJet confident of LCC model despite 54% decline in Q2 revenue
VietJet Air is confident of its financial strength and business model, even though second-quarter operating revenues more than halved amid the global Covid-19 outbreak. The Hanoi-based low-cost carrier reported D1.12 trillion ($48 million) in operating losses for the April to June period, as air transport revenue declined 54% year-on-year to ...
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NewsMalaysian brokerage issues dire warning about AirAsia X
Malaysian brokerage firm CGS CIMB Securities has questioned the ability of AirAsia X to survive the collapse in international air travel. In a research note entitled “Low probability of survival,” CGS CIMB says that the long-haul, low-cost carrier’s first quarter results were just the “opening scene for the horror movie ...
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NewsImproving travel demand lifts NZ domestic networks
New Zealand carriers are adding capacity to their domestic networks in the coming months, even as international operations remain grounded due to pandemic-related travel restrictions. Moves by Jetstar and Air New Zealand to add back capacity come on the back of strong domestic travel demand. Low-cost carrier Jetstar ...
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NewsUS Army orders nine additional MH-47G Block II Chinooks
Boeing has secured a $265 million deal to supply nine additional MH-47G Block II Chinooks for the US Army Special Operations Aviation Command (USASOAC). This brings the total number of MH-47G Block IIs on contract to 24, says Boeing. It adds that USASOAC will receive its first example this year. ...
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AnalysisThe lessors with exposure to Nok Air
Nok Air has followed the lead of compatriot Thai Airways in filing for business rehabilitation amid the Covid-19 pandemic. The filing is bad news for lessors insofar as it puts an automatic stay on creditor claims, which means no lease rentals will be forthcoming from Nok until at least 27 ...