All articles by Cirium – Page 36
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NewsThai Airways aims to hold creditors’ meeting in early 2021
Thai Airways International has received the Central Bankruptcy Court’s approval for business rehabilitation and targets to hold a creditors’ meeting early next year. The court has also accepted and appointed the airline’s nominations for rehabilitation planners, Thai says in a statement today. Source: Shutterstock Thai Airways fleet at ...
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NewsLATAM request for DIP financing rejected by bankruptcy court
LATAM Airlines’ proposal to secure $2.2 billion in debtor-in-possession financing has been rejected by a bankruptcy court in New York. The Chile-based airline group, which filed for Chapter 11 bankruptcy protection in the USA on 26 May, says in a Securities and Exchange Commission filing that a judge at the ...
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NewsRyanair closes Dusseldorf base
Ryanair will close its Dusseldorf base in October after the German airport’s operator and a ground handling provider refused to lower their fees.
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NewsWizz Air Abu Dhabi postpones launch to 16 October
Wizz Air has delayed the launch date of its new Abu Dhabi operation by two weeks, citing ongoing Covid-19-related travel restrictions.
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NewsQantas to boost regional flights when state borders reopen
Qantas plans to boost regional flights, citing the need to maintain critical transport links to key regional cities following Virgin Australia’s decision to exit various markets. Subject to the reopening of state borders, the airline intends to launch new flights from Brisbane, Queensland to Port Macquarie, New South Wales five ...
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NewsJetBlue adds 24 leisure routes in move to generate cash
JetBlue Airways is launching 24 domestic and international routes as part of a strategy to quickly generate cash from an expected growth in demand for leisure travel.
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NewsEuropean airline bailouts hit €26.6 billion: HSBC
European governments have provided the continent’s airlines with nearly €26.6 billion ($31.5 billion) in assistance throughout the coronavirus crisis, underlining the value regulators place on the connectivity carriers provide, according to a report from HSBC.
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NewsJin Air to modify one 777-200ER for cargo-only operations
South Korea’s Jin Air is scheduled to remodel one Boeing 777-200ER passenger aircraft for cargo-only operations. The modifications are due to take place in October and will increase the aircraft’s cargo capacity by 10t to 25t. Source: FlightGlobal file photo Jin Air will modify one Boeing 777-200ER to ...
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Airline BusinessHow close is Hong Kong to setting up travel bubbles?
Proposed travel bubbles have offered a ray of hope for restless Hong Kong denizens grounded for months in a densely populated city, but these have proven more complicated for the government to arrange than it initially seemed. An annual jaunt to Taiwan or Japan is de rigueur for many Hong ...
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NewsAirAsia Group consolidates MRO operations in new subsidiary
Malaysia’s AirAsia Group has established Asia Digital Engineering (ADE), a wholly owned subsidiary “to consolidate engineering personnel across AirAsia’s group airlines”. The entity has obtained approval from the Civil Aviation Authority of Malaysia (CAAM) to start operations from 9 September. Source: AirAsia AirAsia will consolidate MRO operations ...
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NewsIATA expects air cargo recovery to strengthen
Demand for air cargo has rebounded sharply since national lockdowns have eased with strong growth expected for the remainder of 2020, according to IATA. Calling air cargo demand “one of the few bright spots” in the global airline sector, IATA chief economist Brian Pearce said during a press briefing today ...
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NewsVolaris seeks shareholder approval for $162 million capital raise
Volaris is seeking to raise up to 3.5 billion Mexican pesos ($162 million) through a rights offering, share sale or debt issuance to strengthen its balance sheet and enable it to take advantage of market opportunities.
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NewsFinnair slashes planned October capacity
Finnair is more than halving the number of flights it intends to operate during October as resurgent coronavirus cases and heightened travel restrictions hit passenger demand.
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NewsLufthansa makes case for expanding airport Covid testing scheme
Lufthansa has disclosed that 150,000 passengers were monitored for Covid-19 at the Frankfurt airport testing facility it opened in late June with Fraport and Centogene, and about 1% of samples taken over the last six weeks gave a positive result for the disease.
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NewsAirAsia Group seeks to raise up to $600 million by end of 2020
Malaysia’s AirAsia Group is looking to raise up to MYR2.5 billion ($600 million) before the end of the year. The company confirms to Cirium that it is talking to private equity, strategic partners, as well as both local and foreign conglomerates. It plans to raise up to MYR1.5 billion from ...
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NewsTAP awarded first €500 million of state rescue loan
TAP Portugal has received just under €500 million ($591 million) of its potential €1.2 billion state rescue loan from the Portuguese government, the airline has disclosed. In June, the European Commission approved Portugal’s plan to lend the carrier up to €1.2 billion to help address “immediate liquidity needs” arising from ...
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NewsBOC Aviation sues AirAsia X over $23 million of lease debts
Singapore-based lessor BOC Aviation has filed a claim in a London court against AirAsia X for nearly $23 million due, pertaining to the lease of four aircraft. AirAsia X and its indirect wholly-owned subsidiary AAX Leasing Two received on 25 August a letter dated 19 August from the lessor, the ...
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NewsEC clears €200m Italian aid for Alitalia
A direct government grant of almost €200 million ($236 million) to Alitalia has been approved by the European Commission to compensate the airline for damage caused by the Covid-19 pandemic.
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NewsKorean Air approved to convert 777-300ER for cargo operations
Korean Air has received approval from the Ministry of Land, Infrastructure and Transport (MOLIT) to remodel a Boeing 777-300ER passenger aircraft for cargo operations. This is the first such approval it has received, the airline tells Cirium, and it plans to convert one more 777-300ER, having based its decision on ...
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NewsAir New Zealand’s chief commercial officer Cam Wallace resigns
Cam Wallace has resigned as Air New Zealand’s chief commercial and customer officer after 19 years with the organisation. He will leave at the end of September and will provide consultancy support to chief executive Greg Foran until the end of 2020, the carrier announced today. Source: Air ...