All articles by Cirium – Page 19
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NewsGrounded Jet Airways reports $391 million FY2019-20 loss
Jet Airways, the Indian carrier that has been grounded since April 2019, has posted a net loss of Rs28.4 billion ($391 million) for the 2019-20 fiscal year ended 31 March 2020.
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NewsPassengers down 70% at Dubai International last year
Dubai International’s passenger numbers collapsed in 2020, but the airport operator is reporting “positive strides” in the second half of the year.
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NewsNorwegian reaches accommodation with several lessors
Norwegian and its subsidiaries have reached an accommodation with a number of lessors, including Avolon and SMBC Aviation Capital, relating to several aircraft the airline was formerly seeking to reject as part of its Irish restructuring process.
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AnalysisAsia-Pacific authorities keen to defer travel until 2022
After almost a year of closed borders, authorities in Asia-Pacific appear keen to delay the reopening of borders to at least 2022. Even with the rollout of vaccines, there are few signs that governments are prepared to ease up on existing testing and quarantine restrictions. In the short term, a ...
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NewsCourt approves reorganisation of six HNA carriers
The highest court in China’s Hainan province has approved applications from creditors to place 10 affiliates of Hainan Airlines Holding in bankruptcy reorganisation, including six airlines, a 10 February filing to the Shanghai Stock Exchange shows.
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NewsLessors strike deals with Thai Airways
Many lessors have reached agreements with Thai Airways International on the future of their aircraft as part of the carrier’s restructuring process, lessors with exposure and people close to the restructuring tell Cirium.
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NewsGerman government finalises airport support package
The German government has agreed a financial support package for airports under which the nation’s 15 largest gateways will receive more than €600 million ($725 million).
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NewsSpirit targets return to full capacity in summer
Spirit Airlines made a $508 million operating loss in 2020 but plans to return to full pre-pandemic capacity levels by the summer travel season and take delivery of 16 aircraft by year-end. The US low-cost carrier’s 2020 loss compared with a $501 million profit in 2019. The rising number of ...
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NewsJet2 raises £422m to guard against ‘unpredictable shutdown’
Jet2 has raised £422 million ($582 million) through an equity issue aimed at ensuring it has sufficient liquidity in the event of an “extended and likely unpredictable shutdown”.
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NewsStart-up Flyr plans listing on Norwegian stock exchange
Norwegian start-up Flyr will apply for a listing on the Oslo stock exchange’s Euronext Growth market as it seeks to raise NKr600 million ($70 million) from private equity investors. The airline has already secured NKr165 million from cornerstone investors, giving the airline an initial valuation of NKr750 million. Investors already ...
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NewsDAE chief hails ‘terrific’ year despite Covid-19
Aircraft lessor and MRO provider Dubai Aerospace Enterprise enjoyed a “home-run year” in 2020, chief executive Firoz Tarapore has asserted, as its diversified customer base and strong liquidity position softened the impact of the pandemic.
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NewsVirgin Atlantic expects early-summer passenger demand recovery
UK carrier Virgin Atlantic has written off the normally busy Easter travel season and now expects a recovery in passenger numbers to begin in May-June, chief executive Shai Weiss has indicated. Noting that he has been forced to repeatedly push back his expectations for a recovery in travel demand, Weiss ...
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NewsMesa defers revenue from mainlines amid $27m first-quarter profit
The parent company of Mesa Airlines reported an operating profit of $27 million during its first quarter of 2021 as it plans to continue to allow its mainline customers to defer payments to aid their recovery during the ongoing coronavirus pandemic. The Phoenix-based regional carrier’s operating profit was roughly flat ...
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NewsIndiGo’s parent settles case with securities regulator
Indian low-cost carrier IndiGo’s parent Interglobe Aviation has agreed to pay Rs21 million ($288,000) to India’s securities regulator to settle a case involving compliance violations.
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NewsAAPA sees vaccine egalitarianism as the key to reviving tourism
It will be difficult to reopen borders for tourism until most of the world’s population has been vaccinated, and the disparity between developed and emerging economies could potentially hamper progress, the Association of Asia Pacific Airlines (AAPA) has warned.
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NewsUK mandates hotel quarantines for returning red-list passengers
The UK is to launch mandatory hotel quarantines for UK and Irish residents returning from “red list” states where transmission rates of Covid-19 are high. “In short, this means that any returning residents from these countries will have to quarantine in an assigned hotel room for 10 days from the ...
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NewsFleet cuts prompt dispute with pilot union at Swiss
Swiss has walked away from labour talks with pilot union Aeropers and terminated a collective agreement with the body amid a dispute over planned restructuring in response to the pandemic.
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NewsDelta to block middle seats through April
Delta Air Lines has extended through the end of April its ban on selling middle seats on its flights to give customers the additional “peace of mind” that comes with fewer passengers and the perceived lower risk of getting infected with the coronavirus.
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NewsLessors to vote on Malaysia Airlines’ restructuring plan on 10 February
Operating lessors with exposure to Malaysia Airlines will vote on the carrier’s restructuring plan on 10 February, the airline confirms to Cirium. The Malaysian airline adds that it has divided creditors into seven classes as part of its UK court-led restructuring, which involves a “revised long-term business plan”. ...
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NewsAustrian plans further restructuring amid stalled recovery
Austrian Airlines is planning to implement further restructuring measures in response to lower-than-predicted travel demand amid the current wave of Covid-19 infections. The Lufthansa Group carrier says it is currently operating around 15% of pre-crisis capacity. It had previously forecast that the level would reach 50% during the winter season ...