All articles by Cirium – Page 40
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NewsCanadian regional Porter postpones restart to October
Porter Airlines is postponing its return-to-service date from 31 August to 7 October amid ongoing domestic travel restrictions and the closure of the border between the USA and Canada. The Toronto-based carrier suspended operations in March as the coronavirus downturn drove airlines worldwide to ground thousands of aircraft. Porter chief ...
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NewsAircastle grants rental deferrals to half its customers
Lessor Aircastle has granted rental deferrals to 40 lessees, representing half of its customer base, as it warns the impact of the Covid-19 pandemic has been “severe” and the industry may take years to recover. The amount deferred, as of 1 August, is approximately $99 million. “In the current environment, ...
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NewsGaruda posts $723 million first-half loss
Garuda Indonesia was $723 million in the red for the six months ended 30 June, having taken a near-60% hit to operating revenues. Operating revenues came in at $917 million, compared with $2.2 billion in the year-ago period, as revenues from scheduled services declined by 60%. On the other hand, ...
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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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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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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 ...
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NewsAirAsia X hopeful of late-year demand revival
AirAsia X is still confident that demand “will pick up towards the end of 2020”, though the group acknowledges that it has “no clear visibility on the timing of recovery”. In the meantime, the long-haul low-cost operator expects to remain in “hibernation mode”, maintaining “minimum connectivity” with “essential cargo and ...
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NewsNok Air files for business rehabilitation
Thai budget carrier Nok Air has filed for business rehabilitation with a view to restructuring the company, taking a similar path to flag carrier Thai Airways which filed for the same protection in May. The country’s Central Bankruptcy Court has accepted Nok Air’s rehabilitation petition for consideration and set 27 ...
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NewsAeroflot detects ‘gradual recovery’ in domestic flights
Russian flag carrier Aeroflot slipped to a net loss of Rb26.2 billion ($356 million) in the second quarter, from a profit of Rb2.73 billion a year ago.
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NewsMyanmar further extends international flight ban to end-August
Myanmar has further extended a ban on all international flights to the end of August. “In order to continue to [curb] the spread of Covid-19 in Myanmar effectively, the National Central Committee for Prevention, Control, and Treatment of Covid-19 has decided to further extend the effective period of the temporary ...
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NewsHeathrow issues Covid-19 testing plea as losses mount
London’s Heathrow airport has reiterated calls for the UK government to introduce a Covid-19 testing programme as an alternative to quarantine for arriving passengers.
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NewsFedEx pilots urge airline to suspend operations to Hong Kong
Unionised pilots with FedEx Express are urging the US cargo carrier to suspend operations to Hong Kong, as they object to compulsory hospitalisation and quarantine of flightcrew exposed to Covid-19 as part of stricter measures imposed by the local government to control the virus outbreak. “Recently, three Covid-19-positive asymptomatic FedEx ...
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NewsGermany warns against ‘unnecessary’ travel to parts of Spain
Germany has become the latest European country to warn against non-essential travel to Spain amid an uptick in coronavirus cases, although it appears to be taking a more targeted approach than the UK.
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NewsLessons from NokScoot’s liquidation
NokScoot has suffered the ill-effects of Covid-19, as did Thai Airways; its fate, however, is very different from the flag carrier’s. Thai Airways could emerge from rehabilitation with a significant makeover, but looks likely to survive. On the other hand, the board and shareholders of NokScoot, the joint venture between ...
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NewsRyanair warns of base closures in Spain and Italy
Ryanair has threatened to close bases in Spain and Italy if new labour agreements cannot be reached with unions.
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NewsAirlines ‘disappointed’ after UK reintroduces Spain restrictions
Airlines have expressed disappointment in the UK government’s sudden decision to remove Spain from its travel corridor list less than three weeks after lifting quarantine restrictions on arrivals from the country.
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NewsCorrosion can prompt 737NG in-flight engine shutdowns following storage: FAA
Storage can cause 737NG engine valves to corrode, potentially leading to inflight loss of power or engine shutdowns, the US Federal Aviation Administration warns.
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NewsEurope’s low-cost carriers look beyond the restart
With the European aviation market shaken and long-haul travel largely absent, it is the continent’s low-cost carriers that are embracing the restart, driven by pent-up leisure and visiting-friends-and-family (VFR) demand.
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NewsJet Airways receives two bids
Grounded Indian carrier Jet Airways has received two bids as part of its sale process, according to a 23 July filing to the BSE.
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NewsThai Airways details creditor claims amounting to Bt85 billion
Thai Airways International has disclosed details of Bt85 billion ($2.7 billion) in creditor claims it received among others, citing these as “one of the reasons why the company has filed for the rehabilitation petition”. CIMB Thai Bank and Islamic Bank of Thailand requested in May the repayment of principal and ...