All articles by Cirium – Page 33
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NewsIATA warns of imminent airline bankruptcies
The world’s airlines are haemorrhaging cash at a rate of around $300,000 per minute or $13 billion per month, which could force large swathes of the industry into bankruptcy within months, IATA has warned. With traffic levels set to remain stunted through 2021, IATA believes carriers will continue to burn ...
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NewsFinnair cuts winter capacity to match reduced demand
Finnair has scaled back its flight schedule for the winter season, in response to weakened demand amid ongoing Covid-19-related travel restrictions. The Oneworld carrier states that between 25 October 2020 and 31 March 2021 it will operate 75 flights a day, down from 350 in the same period of 2019. ...
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NewsAirAsia X to shed aircraft and restructure debts
Grounded long-haul low-cost carrier AirAsia X has unveiled a restructuring plan under which it aims to get debts waived and cut aircraft from its fleet in the hope that it will be able to avoid liquidation and raise fresh equity. AirAsia X says it “will not be able to meet ...
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NewsNo new pilots needed for ‘very long time’: Lufthansa training arm
Lufthansa’s in-house flight academy has advised student pilots to consider other careers as the industry will not require them “for a very long time”.
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NewsAvianca boosted as US court clears it to access $2 billion in financing
Colombia-based Avianca has received approval from the US Bankruptcy Court for the Southern District of New York to access the $2 billion debtor-in-possession financing for which it had secured funding commitments on 21 September.
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NewsSouthwest’s chief Kelly seeks concessions from unions
Southwest Airlines’ chief executive Gary Kelly has reiterated that there will be no involuntary furloughs or pay cuts at the Dallas-based carrier through the end of the year, whether or not the federal government extends the US CARES Act’s payroll support programme.
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NewsAir New Zealand announces executive changes
Air New Zealand has announced further changes to its executive team – the addition of a new role as well as the resignation of its finance chief. Leanne Geraghty has been appointed to the newly created position of chief customer and sales officer, reporting directly to chief executive Greg Foran. ...
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NewsSpiceJet to launch A330neo flights to London in December
SpiceJet plans to operate nonstop Airbus A330neo flights from two points in India to London Heathrow from 4 December under an “air bubble” agreement.
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NewsAirAsia Group confirms AirAsia Japan closure
Malaysia’s AirAsia Group has officially announced it will shut operations in Japan. “The company wishes to announce that it has today been notified of the decision taken by the board of directors of AirAsia Japan to cease its operations with immediate effect,” AirAsia Group says today in a Bursa Malaysia ...
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NewsQatar Airways to serve 124 destinations by year-end
Middle Eastern operator Qatar Airways will resume flights to three South African cities on 3 October, and aims to rebuild its network to include 124 destinations by the end of this year.
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NewsCourt upholds decision to suspend Avianca state loan
A Colombian court has upheld its injunction barring the national government from participating in Avianca’s debtor-in-possession (DIP) financing, but the airline is confident its latest proposal will still be approved by the US bankruptcy court.
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NewsKLM submits restructuring plan to Dutch government
KLM plans to cut pay, reduce jobs and slim down its fleet in order to secure €3.4 billion ($4 billion) in loans and guarantees from the Dutch government.
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NewsSingapore opens short-term leisure travel to two more countries
Singapore will lift border restrictions for visitors from Vietnam and Australia, excluding the state of Victoria, starting 8 October. “Both countries have comprehensive public health surveillance systems and displayed successful control over the spread of the Covid-19 virus,” the Civil Aviation Authority of Singapore (CAAS) said on 30 September. ...
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NewsStobart focuses on cost cutting and Southend restart
Stobart Group, owner of London Southend airport and majority shareholder in Stobart Air, has indicated that its focus remains on minimising cash burn despite limited earnings from cargo operations and restarted passenger flights.
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NewsUnions up the ante in row over Lufthansa’s Ocean plan
Three trade unions representing Lufthansa staff have sharply criticised the airline’s planned new leisure subsidiary Ocean in a joint open letter to German chancellor Angela Merkel.
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NewsGlobal aviation unlikely to achieve net zero before 2060: ATAG
Net-zero carbon emissions from the global aviation industry is unlikely to be achievable without a major reliance on offsets until at least 2060 – a decade behind targets set by the Oneworld alliance, the UK government and many other businesses – the Air Transport Action Group (ATAG) has suggested. In ...
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NewsJapanese low-cost carrier Peach receives first A320neo
Japanese budget carrier Peach has taken delivery of its first Airbus A320neo.
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NewsJetstar Japan posts 21% decline in full-year operating revenue
Jetstar Japan’s operating revenue declined 21% to Y47.9 billion ($454 million) for the fiscal year ended 30 June, as it grappled with the impact of Covid-19. “Despite strong performance in the first half of the fiscal year, the second half was significantly affected by the sharp decline in aviation demand ...
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NewsAir cargo capacity recovery stalled in August: IATA
Efforts to restore air cargo capacity made little progress in August as the market remained hamstrung by grounded passenger fleets, new IATA figures reveal
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NewsTAP defers lease payments and looks to sell up to eight aircraft
TAP Air Portugal has negotiated payment deferrals covering about 60% of its leased fleet, and is looking at selling up to eight Airbus narrowbodies as well as returning some aircraft early to lessors.