All Coronavirus articles – Page 42
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AnalysisMixed fortunes for Airbus and Boeing in first half amid sharp declines
Combined deliveries by Airbus and Boeing have declined by more than half during the first six months of 2020 to just 266 aircraft, compared with 2019. Meanwhile the overall order intake has collapsed into a negative tally, although this is driven by a raft of cancellations for the Boeing 737 Max.
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NewsDelta says road to recovery will be long and ‘choppy’
Delta Air Lines has seen a few positive signals for a recovery after the coronavirus pandemic almost completely shut down air travel during April, as it was able to reduce cash burn amid a small increase in bookings, but the airline’s losses during the quarter indicate the industry’s crisis is still far from over.
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NewsJapan to suffer heaviest revenue hit among APAC countries: IATA
Japan, Australia, India and South Korea are the Asia-Pacific countries that will see the worst revenue impact from the Covid-19 pandemic, running into tens of billions of dollars, IATA has predicated. In providing a country-by-country breakdown, IATA reiterates its 9 June forecast that Asia-Pacific, as the first region to feel ...
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NewsCathay shareholders approve HK$39 billion bailout plan
Cathay Pacific’s shareholders have given the green light for a HK$39 billion ($5.03 billion) recapitalisation plan. At the closing of an extraordinary general meeting held on 13 July, the carrier’s shareholders voted overwhelmingly to approve the plan. In total, three resolutions and two special resolutions were put up ...
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NewsEl Al faces class-action suit alleging unpaid ticket refunds
Israeli flag-carrier El Al is facing a lawsuit over allegations that it failed to reimburse customers for cancelled flights, and did not inform the public about their right to receive a refund. The class-action suit has been brought before a district court by all passengers who were due to fly ...
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NewsFAA says 88 air traffic control facilities affected by coronavirus
Since the coronavirus pandemic reached the United States earlier this year, air traffic control (ATC) staff at almost 90 facilities across the country have tested positive for the virus, causing regular disruptions to this crucial network.
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NewsStruggling Air Namibia cleared to resume flights
Under pressure Air Namibia has been cleared by the Namibian High Court to resume services after its operating licence was suspended amid continued financial concerns.
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NewsLATAM secures key funding as Brazilian unit joins Chapter 11 filing
LATAM Airlines Brazil has joined other parts of the airline group in entering Chapter 11 bankruptcy protection as it took a further step to securing required financing to complete its restructuring.
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NewsCoronavirus outbreak scuppers proposal to develop Manila airport
A group of local conglomerates have withdrawn their proposal to develop Manila Ninoy Aquino International airport, citing the impact of the coronavirus outbreak on the aviation industry Known as the NAIA consortium, the group comprises entities from at least six local conglomerates. Among them are JG Summit Holdings and LT ...
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NewsUnited warns 36,000 employees their jobs are in danger
United Airlines has warned 36,000 employees, or 45% of its total staff, that their jobs may be in danger as the carrier prepares to downsize following the coronavirus pandemic.
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NewsIBA highlights four-engined widebody pain as airliner values decline
Aviation consultancy IBA has outlined adjustments to all its commercial airliner market values to reflect the impact of the coronavirus pandemic. Older four-engined widebodies and the Boeing 737 Max are among the worst affected, while “uncertainty” hangs over the Airbus A380.
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NewsAuditor questions AirAsia Group’s survival
Accounting firm Ernst & Young has questioned the AirAsia Group’s ability to remain a going concern, citing deteriorating finances amid the coronavirus pandemic. It notes that the group suffered a full-year net loss of MYR283 million ($66 million) in 2019, a year in which liabilities exceeded assets by MYR1.8 billion. ...
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NewsUnited sees cancellations rise, warns of furloughs
United Airlines says cancellations of forward bookings are once again rising due to new travel restrictions and increasing numbers of coronavirus cases across the southern sun belt states, prompting a warning that furloughs will be inevitable.
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NewsCanada’s Nolinor announces launch of new airline
Canadian passenger and freight charter airline Nolinor Aviation has announced plans to launch a new airline later this year despite the coronavirus crisis that has decimated much of the travel industry.
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NewsAeromexico looks to quit 19 aircraft leases
Grupo Aeromexico, the parent company of Mexico’s flag carrier, has petitioned to be released from aircraft and engine leases as it seeks to shrink its fleet to reduce costs.
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NewsVolaris chief lauds flexible cost base but fleet will be flat to 2023
Mexican ultra-low-cost carrier Volaris is weathering the coronavirus storm thanks to its variable cost base, but still expects its fleet size to be flat through to 2023 as demand inches back.
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NewsAeroflot chief sets out expectations for restoration of international network
Russia’s Aeroflot Group is hoping to restore 80% of its international services by the end of this year, and restore the network fully by the end of the winter season in March 2021. Chief executive Vitaly Saveliev has outlined the ambition during a meeting with Russian president Vladimir Putin. Saveliev ...
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NewsLufthansa halves new-aircraft intake and cuts jobs
Lufthansa will halve the number of new aircraft it takes through to end-2023 as part of a second set of restructuring measures announced today.
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NewsEl Al could be renationalised as it opts for share issue
Israeli flag-carrier El Al has given up pursuing a $400 million state-backed loan and opted for an alternative fundraising package which could result in the airline being renationalised. El Al’s board has chosen a $250 million bank loan, which would have a state guarantee, alongside a $150 million share issue, ...
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NewsAir France to shed over 7,000 jobs as part of €7 billion bail-out
Air France will shed almost 7,600 jobs over the next three years in an accelerated restructuring implemented in parallel with €7 billion ($7.9 billion) worth of government-backed loans.