All articles by Cirium – Page 31
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NewsAirAsia Berhad secured new loan: airline chief
Budget carrier AirAsia Berhad has agreed fresh funding as it seeks to navigate its way through the Covid-19 crisis. The Kuala Lumpur-based airline tells Cirium in a statement that it is unable to disclose the lenders or the amount being made available. Source: AirAsia AirAsia has confirmed that ...
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NewsKorean Air raising cash from government subsidy and land sales
Korean Air is looking to raise additional cash, seeking a government subsidy from the state-run Korea Development Bank (KDB) and separately, from the sale of land in downtown Seoul. “We cannot confirm the exact figures as we are still in discussion with the relevant parties,” the airline tells Cirium. ...
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NewsAirAsia Group carriers weigh up Covid-19 measures
AirAsia Group carriers are seeking cash and eyeing tough restructuring measures as they grapple with the effects of the Covid-19 pandemic. The group’s low-cost long-haul arm, AirAsia X has “run out of money” and needs fresh capital, newly appointed deputy chairman Lim Kian Onn told Malaysian paper The Star in ...
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NewsJet Airways could fly again in four to six months
India’s Jet Airways could be flying again in as little as four to six months after its creditors approved a bid from entrepreneur Murari Lal Jalan and asset management firm Kalrock. “The expectation is that in the next four to six months one should be able to see Jet back ...
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NewsCovid-19 ‘to sort winners from losers’: Wizz chief
Wizz Air chief executive Jozsef Varadi sees a “major opportunity” for his carrier to expand into the vacuum left by retrenching competitors amid the Covid-19 crisis. During an online broadcast by the UK’s Aviation Club, Varadi said Wizz had been “waiting for a crisis” to emerge since the financial crash ...
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NewsLufthansa expects third-quarter EBIT loss of €1.3 billion
Lufthansa Group’s preliminary third-quarter results indicate that losses were less steep than in the previous quarter, which it attributes to an expanded summer flight schedule and “considerable cost reductions”. The German airline group expects to post an adjusted EBIT loss of almost €1.3 billion ($1.5 billion) for the three months ...
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NewsHeathrow trials rapid pre-departure Covid-19 tests
London Heathrow has become the first UK airport to offer rapid Covid-19 pre-departure tests, initially to outbound passengers to Hong Kong and Italy.
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NewsAir Lease boss stands by plan to keep Max orders and ‘not panic’
Boeing’s 737 Max is “going to have a role” in meeting airlines’ future narrowbody needs, and lessors “can be very helpful” in ensuring the airframer is able to place the aircraft once it is cleared to fly again, Air Lease chief executive John Plueger has predicted. Speaking during the virtual ...
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NewsUK to implement testing regime by December: transport secretary
The UK is hoping to roll out a testing regime for inbound travellers by 1 December with the aim of reducing quarantine times to one week, transport secretary Grant Shapps has revealed. During the Airlines 2050 conference today, Shapps said that under the government’s current plan, passengers would pay for ...
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NewsPassengers booking at last minute amid Covid-19 uncertainty
Airline booking times have “collapsed” and passengers are increasingly buying tickets at the last minute amid uncertainties over changing Covid-19 travel restrictions, making it difficult for carriers to predict how full their flights will be, panellists observed during the Airlines 2050 conference today.
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AnalysisHow engine shop Aero Norway has adapted to the crisis
Engine overhaul specialist Aero Norway has implemented company-wide salary cuts and reduced working time for shop-floor staff in an effort to weather the Covid-19 crisis without losing experienced personnel. Chief executive Glenford Marston tells Cirium that the company has not made redundancies among its approximately 200 employees or received support ...
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NewsBerlin’s new airport completes operational tests
Berlin airports operator FBB has announced the completion of operating tests at the city’s much delayed new airport, meaning it has achieved all the steps necessary to open later this month. Since April, the operator has been running twice-weekly operational tests at the airport to the southeast of the German ...
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NewsQantas to exit joint venture with Vietnam Airlines: report
Australia’s Qantas plans to give up its stake in low-cost carrier Pacific Airlines to joint venture partner Vietnam Airlines, according to a media report. This will be transferred at no cost and the deal is expected to be finalised by the end of October, DealStreetAsia, a Nikkei-owned Asia-focused financial publication, ...
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NewsGaruda Indonesia details $580 million government funding
Garuda Indonesia has disclosed details of Rp8.5 trillion ($580 million) in government funding approved by parliament in July. This will take the form of a seven-year unsecured bond that will be converted to new shares at maturity. Source: Airbus Garuda Indonesia says government funding is necessary for ...
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NewsAmedeo sees mixed fortunes from Thai and Emirates
Lessor Amedeo has reported mixed fortunes regarding two of its major lessees, Thai Airways International and Emirates, with one airline paying steady rentals and even operating some of its aircraft, while the other remains grounded and makes little to no rental payments. The insight derives from public disclosures from the ...
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NewsQantas and Jetstar resume trans-Tasman flights
Australian carriers have resumed flights to New Zealand, under the one-way safe travel zone established between the two countries. Qantas and subsidiary Jetstar today operated their first flights between Sydney and Auckland under the scheme, which allows eligible passengers to travel from New Zealand and without needing to quarantine upon ...
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NewsHawaii begins virus testing to boost air travel
Hawaii starting on 15 October will allow travellers to submit negative coronavirus test results 72 hours in advance of their flights to bypass its ongoing quarantine for new arrivals to the islands, hoping to boost tourism after months of nearly non-existent air travel. Several carriers, including Honolulu-based Hawaiian Airlines, will ...
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NewsUnited’s recovery plan built around late 2021 arrival of vaccine
United Airlines says it will have enough liquidity to not just survive the “difficult” 12-15 months ahead but to be the first among its network peers to return to positive cash flow when an effective Covid-19 vaccine becomes widely available.
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NewsAir Lease delivers first of three A321LRs to SAS
Air Lease has delivered the first of three Airbus A321LRs to Scandinavian Airlines. The CFM International Leap-1A-equipped aircraft is on “long-term lease”, and the remaining two in the deal are scheduled to deliver in 2021, the US lessor says in a 15 October press release. Source: SAS The ...