All articles by Cirium – Page 46
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NewsEasyJet agrees five-year deferral on 24 Airbus aircraft
EasyJet has reached an agreement with Airbus to push back by five years the delivery of 24 aircraft that were originally destined to join its fleet between 2020 and 2022.
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NewsUncertainty around Khazanah’s view on Malaysia Airlines funding
The parent of Malaysia Airlines is in discussions with sovereign wealth fund Khazanah Nasional about financial support, but has not received a funding commitment. Addressing media speculation, the airline tells Cirium that parent Malaysia Aviation Group (MAG) “has not received any commitment by Khazanah Nasional, for a MYR5 billion ($1.17 ...
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NewsWestJet tests network demand with July schedule
Calgary-based WestJet in July and August will increase frequencies on its network and resume service to certain locations for a total of 39 destinations in Canada, five in the USA and one in Mexico as air travel slowly recovers.
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NewsLithuania plans new flag carrier
Lithuania’s government intends to establish a new national airline later this year or early in 2021.
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NewsEuropean price war threatens deepened cash-flow crisis
Airlines making their first tentative steps towards restart of operations are keen to convince the public that air travel is back. But making the case will not be easy – or cheap. Early indications are that many passengers are nervous about boarding an aircraft, especially older travellers. And given that ...
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NewsSwiss parliament votes for CO2 tax on air tickets
Switzerland’s parliament has voted in favour of introducing an environmental levy on airline tickets.
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NewsLufthansa to cut 22,000 jobs
Lufthansa Group has outlined plans to cut the equivalent of 22,000 full-time jobs, half of which will be in Germany, and operate 100 fewer aircraft as it recovers from the effects of the Covid-19 crisis.
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NewsUK government issues flight-resumption guidance
UK government officials have published new guidelines aimed at enabling the country’s air transport sector to “bounce back” safely when Covid-19 travel restrictions are eased.
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NewsAlliance Aviation plans $85m equity raise to acquire aircraft
Australia’s Alliance Aviation is looking to raise around A$122 million ($85 million) in equity capital, for acquiring aircraft to take advantage of growth opportunities. This comprises $A91.9 million via a fully underwritten institutional share placement and a A$30 million target from a non-underwritten share purchase plan extended to existing shareholders. ...
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NewsAir New Zealand addresses media report on capital raising
Air New Zealand says it continues to assess funding options available to it, in response to a recent media report about a potential capital raising. The airline is listed on both New Zealand’s Exchange and the Australian Securities Exchange. It said in an 11 June stock-exchange disclosure: “Air New Zealand ...
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NewsPakistan prime minister receives ‘detailed roadmap’ on PIA reform
Pakistan International Airlines, which in May suffered a fatal crash in Karachi, must undergo reforms including increasing revenue and upgrading its aircraft, Pakistan’s prime minister Imran Khan has said. The flag carrier’s chief executive Arshad Malik, who was reinstated to his position in March following a court dispute over his ...
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NewsJet fuel prices firming on stronger crude and tighter supply
Jet fuel prices have continued to increase following the dramatic declines earlier in the year, although with the collapse in demand it remains extremely weak by normal standards. Energy data provider ICIS – which like Cirium is RELX-owned – priced jet fuel for barge delivery to northwest Europe at $309-310 ...
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NewsEuropean Commission approves €1.2 billion bailout for TAP
Portugal has won approval from the European Commission to provide a €1.2 billion ($1.4 billion) state rescue loan to its national carrier TAP to address “immediate liquidity needs”.
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NewsPhilippine Airlines parent slips into first-quarter loss
PAL Holdings, the parent company of Philippine Airlines, has posted an operating loss of Ps6.55 billion ($131 million) for the first quarter of 2020, a sharp reversal of the Ps2.53 billion operating profit in the same period last year. Revenue for the quarter ended 31 March fell 18.3% year on ...
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NewsHyundai Development renegotiating Asiana acquisition: reports
Hyundai Development (HDC) is looking to renegotiate its acquisition of a 31% stake in Asiana Airlines from Kumho Industrial. This has been sparked by an increase in Asiana’s debt burden and HDC appealed to the airline’s state-funded creditors to offer it support, Reuters reported on 9 June. HDC has notified ...
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NewsRyanair unit Lauda reverses closure of Vienna base
Ryanair-owned Lauda has cancelled plans to close its Vienna base after the majority of pilots and cabin crew backed a new collective labour agreement.
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NewsJet2 postpones flight resumption to 15 July
UK leisure carrier Jet2 has again pushed back the date for restarting flight operations, as a result of Covid-19-related travel restrictions.
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NewsGaruda’s revenue impacted by Covid-19 and cancelled Hajj flights
Garuda has shed more light on the impact of the coronavirus pandemic on its operations, with the cancellation of Hajj pilgrimage flights coming on top of the wider collapse in the air travel market. The pandemic has led to lower demand for air travel, a reduction in flight frequencies, ...
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NewsThai proposes oil and gas executive as additional rehab planner
Thai Airways International has proposed appointing an additional person with state-owned enterprise credentials to join the five other people, as well as a professional services firm, tasked with drafting a turnaround plan for its beleagured business. The Thai flag carrier, which had its application for business rehabilitation accepted by a ...
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NewsLufthansa secures €600 million state aid package for Austrian
Austria’s government has agreed with Lufthansa Group a financial support package for Austrian Airlines worth €600 million ($667 million) to secure its future operation as a network carrier in Vienna