All articles by David Kaminski-Morrow – Page 202
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NewsFinnair raises €501m from oversubscribed share offering
Finnair has disclosed that investor have oversubscribed by nearly 11% to a new share issue intended to reinforce the Nordic company’s liquidity. The company says it will receive net proceeds of around €501 million. Finnair received subscriptions for more than 1.416 billion shares against the 1.279 billion on offer. The ...
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NewsSAA rescue remains uncertain as treasury highlights funding pressures
South Africa’s government is urging creditors and unions to support South African Airways’ proposed rescue, warning that the airline’s liquidation is the worse of the options available. But the opposition Democratic Alliance believes the country’s treasury, which is having to cope with funding pressures from the coronavirus crisis, is reluctant ...
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NewsCarbon monoxide poisoning clue emerges in fatal DHC-2 crash probe
Australian investigators have urged operators of piston-engined aircraft to carry out inspection and repair of exhaust systems, after finding that the pilot of a crashed De Havilland Canada DHC-2 floatplane had elevated levels of carbon monoxide in his blood. The Sydney Seaplanes aircraft, with six occupants, had departed Cottage Point, ...
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NewsFastjet counts on flight restoration as cash reserves dwindle
African budget operator Fastjet Group believes it has sufficient funds to last through August but is warning that it needs flight operations to resume to sustainable levels in September. Its services have effectively been shut down since 7 April, bar a limited number of repatriation flights, following government lockdowns in ...
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NewsBOC Aviation cancels orders for 30 737 Max jets
Singapore-based lessor BOC Aviation has cancelled an order for 30 Boeing 737 Max jets, and intends to defer delivery of others. It has not disclosed the extent of the deferral nor the number of jets involved. But BOC Aviation says it has signed commitments with customers for all the Max ...
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NewsUnited 777 blade failure followed prolonged gap in P&W inspection training
US investigators believe prolonged absence of formal training and certification for a fan-blade inspection technique resulted in a flawed blade being returned to service and subsequently fracturing on a United Airlines Boeing 777-200. The fracture in the right-hand Pratt & Whitney PW4000 fan blade, during cruise at 36,000ft on 13 ...
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NewsEl Al reiterates concerns over survival as losses mount
Israeli flag-carrier El Al has reiterated that a financial support scheme is critical to the airline’s survival, as it disclosed a net first-quarter loss of nearly $140 million. El Al says financial assistance is “essential” to its being able to deal with the coronavirus crisis. At the end of the ...
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NewsAirbus not expecting significant changes in production rates: Faury
Airbus is not expecting to make substantial adjustments to its production rates for the foreseeable future, following the cuts to monthly output it disclosed in early April. The airframer has brought monthly single-aisle production down from 60 to 40 aircraft, while the twin-aisle rate has fallen from 9.5 to six ...
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NewsAirbus to cut global workforce by 15,000 personnel
Airbus is set to cut its workforce by 15,000 personnel by summer next year, as part of its response to the downturn in the air transport sector. These cuts will include 5,100 positions in Germany, another 5,000 in France, and 1,700 in the UK. The measures affect subsidiaries including Premium ...
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NewsPIA banned from European operations after mounting safety concerns
Pakistan International Airlines has been blacklisted for a six-month period by European safety regulators, banning it from operating to European Union destinations. The Pakistani flag-carrier has disclosed that the prohibition enters into force on 1 July. It states that it is communicating with the European Union Aviation Safety Agency in ...
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NewsEasyJet proposes UK base closures including two in London
UK budget carrier EasyJet is proposing to close two of its four London bases, as well as its Newcastle station, as part of the cuts to cope with the coronavirus situation. The airline is looking to shut its London Stansted and London Southend bases, along with Newcastle, and to cut ...
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NewsSAS details extensive make-or-break recapitalisation plan
Scandinavian operator SAS has detailed a recapitalisation programme intended to run alongside its revised business plan and the implementation of broad efficiency measures. It says the Swedish and Danish governments, along with its third-largest shareholder – the Wallenberg Foundation – are supporting the plan, through which SAS aims to restore ...
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NewsComair rescuers seek time to scrutinise expression of interest
South African carrier Comair’s rescue practitioners are still trying to work through the details of an expression of interest in the airline, and are seeking to postpone further the publication of a business plan. They are requesting creditor approval to push back the publication date from 30 June to 28 ...
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NewsIcelandair delays share issue to August as crucial talks go on
Icelandair Group has deferred a planned share offering until August, as it strives to reach stakeholder agreements on which the stock issue is conditioned. The company had been aiming to seal these agreements by 29 June, a date already pushed back by two weeks from the original mid-June estimate. Icelandair ...
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NewsMaintenance firm clashes with inquiry over severe E190 loss-of-control incident
Portuguese maintenance firm OGMA has clashed with accident investigators over conclusions drawn from a serious Embraer 190 incident during which the aircraft departed with cross-rigged aileron cables, almost leading to the loss of the jet. OGMA has strongly objected to several findings from investigation authority GPIAAF, arguing that the inquiry ...
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NewsJetstar 787 biocide treatment led to dual engine thrust roll-back
Japanese investigators believe biocide treatment of fuel on a Jetstar Airways Boeing 787-8 led to the aircraft’s losing thrust in both engines during a service to Osaka’s Kansai airport two days later. The aircraft (VH-VKJ) had departed Cairns on 29 March last year. As it descended through 16,100ft (4,900m) towards ...
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NewsSerious Ryanair 737 low-approach incident followed procedural confusion
Confusion and loss of situational awareness during a procedural approach to Bergerac resulted in a Ryanair Boeing 737-800 descending to less than 800ft above ground while still 8nm from the airport’s runway, French investigators have determined. The crew of the aircraft – arriving from London Stansted on 29 January 2015 ...
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NewsCrashed UIA 737 recorders to be examined by French investigators in July
French investigation authority BEA is to carry out the download and read-out of information from flight recorders retrieved from the Ukrainian Boeing 737-800 shot down over Tehran. The work is set to commence on 20 July, following a request from Iranian investigators, states BEA. It will cover repair and data ...
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NewsUnexpected fuel-pump wear spurs swap order for Trent 787s
Operators of Rolls-Royce-powered Boeing 787s are being warned over unanticipated fuel-pump deterioration, particularly on high-life Trent 1000 engines, and instructed to replace the parts earlier. While the issue had originally been thought to affect pumps with a specific part number, Rolls-Royce has developed a service bulletin which extends to additional ...
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NewsSAA’s future remains in limbo as unions secure delay to rescue vote
Decisions on the future of South African Airways have been pushed back by nearly three weeks, after three unions secured an adjournment of a crucial creditor meeting, in order to buy time to adjust the business rescue plan. The SAAPA, SACCA and NUMSA unions – representing pilots, cabin crew, and ...