All articles by Cirium – Page 43
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NewsAerCap sees big drop in Q2 lease agreements
Lessor AerCap signed lease agreements covering only 10 aircraft in the second quarter of 2020, down from 48 in the same period last year. The 10 aircraft comprise one widebody and nine narrowbodies, while in Q2 2019 AerCap signed deals for four widebodies and 44 narrowbodies, says the company. Aircraft ...
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NewsKorean Air to sell in-flight catering and retail businesses
Korean Air is selling its in-flight catering and duty-free businesses and has signed a memorandum of understanding with local private equity fund, Hahn & Company. The investment firm describes itself as “specialising in buyouts and corporate restructurings in South Korea”, according to its website. Korean said in a statement today ...
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NewsKenya to reopen international flights on 1 August
Kenya has become the latest African country to announce dates for the resumption of scheduled flights, amid reports that its flag carrier plans to make job cuts ahead of a possible nationalisation.
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NewsVirgin Australia bondholders challenge sale to Bain Capital
Two parties representing Virgin Australia bondholders have challenged the airline’s sale to Bain Capital with the intention of making an alternative proposal. In an application to the Australian Takeovers Panel, Singapore-based fund manager Broad Peak Investment Advisers (Broad Peak) and Hong Kong’s Tor Investment Management submit that “certain circumstances regarding ...
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NewsHK Express pushes flight resumption back to August
Hong Kong low-cost carrier HK Express will not resume flights until the first week of August, over three weeks later than previously announced. The airline, which was purchased by Cathay Pacific Airways in July 2019, planned to resume flights on 11 July, but said yesterday it will postpone the resumption ...
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NewsPandemic pushes AirAsia into the red
AirAsia Group slipped to a MYR953 million ($223 million) net loss in the first quarter, down from a MYR102 million profit in the same three-month period of 2019, as Covid-19 caused demand to plummet.
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NewsMTU to cut workforce by up to 15%
German engine specialist MTU will cut its workforce by up to 15% by the end of 2021 to account for reduced air-transport demand amid the coronavirus crisis. The company says it aims to avoid compulsory redundancies as it seeks to reduce its German and international workforce by 10-15% by the ...
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NewsJapan’s ANA and JAL secure $1.6bn in export-credit guarantees
The Japan Bank for International Cooperation is providing guarantees totalling Y174 billion ($1.6 billion) for aircraft-import loans to ANA Holdings and Japan Airlines. The export-credit agency on 9 June signed an agreement with private financial institutions to provide a Y88.4 billion guarantee against the principal and interest of their loans ...
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NewsHelvetic pushes back seven E2 deliveries to 2021
Swiss regional carrier Helvetic Airways has deferred delivery of seven Embraer 190-E2s that were due to join its fleet this year.
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NewsUK to lift quarantine restrictions for more than 50 countries
Travellers arriving in England from more than 50 countries will no longer be required to self-isolate for 14 days from 10 July, the UK government has confirmed.
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NewsPortuguese state takes control of TAP to prevent bankruptcy
Portugal’s government has agreed to pay €55 million ($62 million) to increase its stake in national carrier TAP to 72.5% in order to prevent the airline from going bankrupt.
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NewsSIA Group sends another two A380s and two 787s to Alice Springs
Singapore Airlines Group recently parked another four aircraft – two Airbus A380s and two Boeing 787-8s – at Alice Springs Airport in Australia. The company tells Cirium it now has a total of 22 aircraft parked there, at Asia Pacific Aircraft Storage. This comprises seven A380s and three 777-200ERs from ...
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NewsJeju Air may abandon Eastar Jet acquisition: report
South Korea’s Jeju Air could scrap plans to acquire a majority stake in compatriot low-cost carrier Eastar Jet. Citing difficulties in ongoing discussions, a Jeju official was quoted as saying the carrier will consider abandoning the deal within 10 business days, Reuters reported on 2 July. On 29 June, Eastar ...
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NewsAfrica and Middle East need ‘layered’ measures for restart: IATA
African and Middle Eastern countries should adapt their quarantine measures to enable the aviation sector to begin a recovery while containing spread of the coronavirus, IATA has urged.
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NewsQatar Airways to operate two-thirds of pre-Covid network in July
Boston, Toronto and Venice are among 18 more destinations being reinstated by Qatar Airways in July as it seeks to rebuild its network to include 65 points by the mid-month.
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NewsThai Airways names new acting president
Thai Airways International has named Chansin Treenuchagron as acting president, replacing Chakkrit Parapuntakul. His appointment takes effect on 2 July, says Thai in a 1 July stock-exchange disclosure. Source: Shutterstock Thai Airways fleet at Bangkok airport May 2020 Treenuchagron joined the carrier on 4 June as an ...
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NewsNear-halving of EasyJet’s German operation in prospect: union
Trade union Verdi believes EasyJet is planning to almost halve its operation at its sole German base in Berlin.
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NewsPandemic resurgence threatens to choke off recovery: IATA
Recent growth in the number of coronavirus cases is harming the recovery in air passenger demand and could lead IATA to downgrade its passenger estimates for the remainder of the year, the association has warned.
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NewsUK-based Ryanair pilots accept temporary pay cuts
UK pilot union BALPA has disclosed that members employed by Ryanair have voted 96% in favour of taking temporary pay cuts to save under-threat jobs.
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NewsGaruda posts sharp fall in first-quarter operating profit
Garuda Indonesia posted an operating profit of $616,000 in the first quarter of 2020, a sharp fall from the $49.4 million profit in the same period last year. Revenue for the quarter ended 31 March fell by 30.1% year-on-year to $768 million, led by a 29.2% decline in revenues from ...