All articles by Cirium – Page 53
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NewsFrontier wins DOT approval to suspend flights to several cities
The US Department of Transportation (DOT) is exempting Frontier Airlines from operating routes to Charlotte, Detroit, Boston and Providence through 10 June, as a condition of its federal payroll support.
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NewsBritish Airways mass redundancies reflect pared-back ‘new normal’
British Airways‘ drastic announcement that it could cut up to 12,000 jobs is the latest suggestion that normality in the airline industry is a thing of the past and efforts should turn instead to preparing for a slimmed-down ’new normal’ once travel restrictions begin to lift.
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NewsEight Thai carriers seek $771m loan from Thai govt: reports
Eight Thai carriers have sought a soft loan of around Bt25 billion ($771 million) from the Thai government, according to a 24 April Reuters report that cites a Thai AirAsia executive. Tassapon Bijleveld, the executive chairman of Thai AirAsia and its parent company Asia Aviation, added that the carriers ...
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NewsSouthwest plans for recession after $900 million cash burn
Southwest Airlines paired its 28 April disclosure of a first-quarter net loss of $94 million and a cash burn of $900 million in April with the announcement of additional liquidity enhancements, as it looks ahead to a near-term environment virtually devoid of travel demand.
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NewsIcelandair cuts staff and salaries to survive
Icelandair is axing 2,000 staff and imposing reduced working hours and wage cuts on its remaining employees as it looks to shore up its finances.
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NewsSouthwest to boost liquidity with concurrent deals
Southwest Airlines will enhance its liquidity position through a common stock offering and a $1 billion convertible bond, both announced 28 April.
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NewsSwiss to modify 777s for cargo-only flights
Swiss intends to reconfigure three Boeing 777s as cargo aircraft under a plan to operate more than 100 freight services to Asia and North America by the end of May. The Lufthansa Group carrier says it will establish “a new network of cargo-only services” to operate up to three daily ...
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NewsPakistan and India ease lockdowns but flights remain grounded
Pakistan and India are easing some of their coronavirus-related lockdown measures, though it will still be at least more than two weeks before aircraft flying scheduled international flights take to both countries’ skies as Pakistan has extended its flight ban and India’s remains subject to review. The lockdown in Pakistan ...
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NewsNorwegian sets out survival plan and sounds warning on cash
Norwegian will run out of cash by mid-May if it does not secure the remainder of its state aid package, the Scandinavian budget carrier has warned in a report to bondholders which lays out plans for a “new Norwegian” that will not start to take off until 2021.
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NewsSIA Group reserves liquidity for aircraft purchases
SIA Group has set aside S$3.3 billion ($2.3 billion) of the S$8.8 billion it plans to raise, from issuing equity and mandatory convertible bonds, for aircraft purchases and aircraft related payments. “The rationale for these [aircraft] purchases remains valid even under the present scenario given that it would enable SIA ...
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NewsThai carriers prepare to restart domestic flights
Some airlines in Thailand are preparing to restart domestic flights on 1 May with distancing and temperature screening measures in place. The Civil Aviation Authority of Thailand met with representatives from 20 airlines to discuss guidelines and rules for the resumption of flights, the Tourism Authority of Thailand said on ...
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NewsVirgin Australia owes creditors $4.4 billion: administrators
Virgin Australia owes just over A$6.8 billion ($4.4 billion) to more than 12,000 creditors, its administrators have disclosed. Meanwhile, Perth Airport has already moved to seize a number of Virgin Australia aircraft over outstanding payments. “Virgin has significant outstanding invoices from Perth Airport for airfield and terminal use charges – ...
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NewsIndonesia bans commercial flying until 1 June
Indonesia has banned commercial flying from 24 April until 1 June, in a bid to prevent the spread of the coronavirus. The ban on commercial flying was part of a larger travel ban imposed by the Indonesian government on Indonesians seeking to travel back to their hometowns to mark the ...
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NewsSkyWest scores $438 million for wage support
SkyWest Airlines will receive $438 million in federal aid to fund salaries and benefits for its workers while helping mainline carriers keep US cities connected during the coronavirus downturn.
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NewsJet2 expects £109m coronavirus hit and cancels 12 aircraft leases
UK leisure carrier Jet2 expects to take a £109 million ($135 million) hit from suspending operations during the coronavirus pandemic, and has cancelled plans to lease 12 aircraft for the summer season. The airline’s parent company, Dart Group, says in a disclosure to the London Stock Exchange that “due to ...
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NewsIndia’s Air Deccan eyes post-crisis relaunch with new aircraft
Air Deccan is in talks with an aircraft manufacturer as the Indian carrier prepares to restart operations once the coroanvirus crisis stabilises, chief executive Arun Kumar Singh has disclosed.
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NewsGerman operator LGW files for insolvency
German regional carrier LGW has filed for insolvency after Lufthansa low-cost subsidiary Eurowings terminated a wet-lease agreement.
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NewsShutdown to cost European airlines $89 billion: IATA
IATA has increased its estimate of the cost of the coronavirus crisis to European airlines, and now believes it will cut sector earnings 2020 earnings by more than half. The association is predicting an annual revenue reduction of 55% against 2019, a hit of $89 billion. This represents an increase ...
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NewsGaruda outlines measures to ride out coronavirus pandemic
Garuda Indonesia has outlined the measures undertaken in light of uncertainties caused by the coronavirus pandemic. In response to a stock exchange query made on 16 April, the airline says it has begun negotiations with lessors to delay payment on leased aircraft and to extend their lease periods. It will ...
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NewsAir New Zealand scraps Buenos Aires and London routes
Air New Zealand is scrapping services to London and Buenos Aires, predicting that demand will not recover quickly enough to make the routes viable. It is also postponing the start of its non-stop Auckland-New York service from 29 October 2020 until late 2021 at the earliest, the carrier said today. ...