All articles by David Kaminski-Morrow – Page 246
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NewsRolls-Royce weighs funding options including £2.5bn equity issue
Rolls-Royce is evaluating various options for raising additional funding, including equity of up to £2.5 billion. The engine manufacturer’s share price fell substantially during trading on 21 September as it disclosed the plan, dropping to lows not reached since 2003. “We continue to review all funding options to enhance balance ...
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NewsAirbus shows off hydrogen-fuelled concept aircraft for 2035 service entry
Airbus has unveiled conceptual designs for a potential zero-emission commercial aircraft, which it believes could be developed for service entry in the next 15 years. All three of the preliminary designs – branded as ‘ZEROe’ aircraft – would use hydrogen as the main power source. Source: Airbus ...
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NewsSilverstone Fokker 50 wrecked in Mogadishu excursion
Images circulating on social media indicate that a Kenyan-registered Fokker 50 turboprop has been substantially damaged in a 19 September accident at Mogadishu, the capital of Somalia. The aircraft (5Y-MHT) has come to rest apparently after striking a concrete wall off the right side of runway 05, suffering severe damage ...
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NewsEmirates Group division to set up kosher catering venture
Emirates Group’s in-flight catering operation is to establish a dedicated production facility to produce kosher meals, those which comply with strict traditional Jewish dietary requirements. The Dubai-based company says the operation, to be known as Kosher Arabia, will be formed through a partnership and commence production in January next year. ...
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NewsSouth African Airways will not be liquidated: government
South Africa’s government is insisting that flag-carrier South African Airways will not be liquidated, and that it will detail measures relating to funding the airline in upcoming legislation. Its department of public enterprises gave the reassurance as creditors met to discuss the airline’s future, after its rescue practitioners warned that ...
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AnalysisEvacuating passengers re-entered cabin after refusing to jump from E195’s wing
Investigators are seeking a reduction in height criteria for assisted emergency exit escape, after passengers evacuating a Flybe Embraer 195 re-entered the jet after refusing to jump from the wing. Several passengers were escorted back into the aircraft and directed to other exits where slides had been deployed. The aircraft ...
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NewsIcelandair Group receives strong response to share offer
Icelandair Group has received a strong response to its share offering, with an oversubscription reaching some 85% more than the planned allocation. The offering – initially intended to cover IcKr20 billion ($147 million) in new shares, through separate share batches of IcKr17 billion and IcKr3 billion – closed on 17 ...
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NewsEl Al signals intention to restart limited number of flights
Israeli carrier El Al is aiming to start restoring flights this month, beginning with a gradual resumption of cargo services on its aircraft. It says the cargo flights will begin returning on 21 September. El Al is intending to follow these flights with a restoration of passenger operations from 1 ...
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NewsCrisis spurs competition regulator to prolong Oneworld transatlantic pact
UK competition regulators have imposed interim measures to address concerns over transatlantic routes operated under the Oneworld alliance’s joint business arrangement, having opted not to accept concession proposals put forward earlier this year. Oneworld carriers British Airways and American Airlines had offered slots at London Heathrow or Gatwick to alleviate ...
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NewsSAA creditors to meet as critical rescue funds fail to materialise
South African Airways’ rescue practitioners are to call a meeting of creditors to discuss the future of the troubled company after doubts emerged over crucial government funding for the airline’s business plan. The practitioners had warned on 10 September that procuring the funding necessary to support the plan was one ...
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NewsIsrael’s dormant Arkia to ‘survive’ after deal to cut workforce
Israeli leisure carrier Arkia’s employees have agreed a restructuring which involves cutting about a quarter of the airline’s personnel, reducing its workforce to around 400. The agreement follows months of negotiations and includes a phased salary-reduction mechanism to be imposed across all the company’s activities – although it will not ...
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NewsEl Al details initial bids after share offer
El Al has disclosed the initial results of its share issue, through which it had intended to raise proceeds of 505 million shekels ($145 million). The issue was launched on 16 September. El Al had been offering 753.35 million shares of which the government had been lined up to take ...
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NewsATR flies first new-build 72-600 freighter for FedEx
ATR has flown the first example of its newly-developed 72-600 freighter, a purpose-built cargo version of its larger turboprop. The aircraft was launched three years ago with an order for up to 50 from US express freight specialist FedEx. Thirty of the aircraft under the FedEx agreement were firm. ATR ...
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In depthHow Soviets decided four was the magic number
Call it an air transport anachronism, but just as four-engined airliners are slipping, perhaps prematurely, into the realms of nostalgia, Russian airframer VASO is assembling a new widebody quadjet, the Ilyushin Il-96-400M, at its facility in Voronezh.
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NewsRussia’s Utair seeks return to strategic plan from 2022
Russia’s Utair Group is expecting to return to its strategic course from 2022, as the impact of the air transport crisis begins to subside. Utair Group states, in a first-half briefing, that the crisis might “drag on” until the beginning of the peak season of 2021, but that it plans ...
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NewsGovernment clears El Al support as Israel heads for new lockdown
Israel’s government has approved the decision to provide assistance to flag-carrier El Al, adding that its share acquisition will be conducted in a manner such that the state does not exceed a 44.9% stake in the airline. El Al is planning to issue 753.3 million shares to raise urgent funding ...
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NewsLondon City outlines plans to cut nearly 240 jobs
London City airport’s operator has outlined plans to cut nearly 240 jobs as part of its response to the air transport crisis. It has opened a formal consultation with staff on the restructuring measure which, it says, will affect 35% of roles. Commercial services were halted on 25 March but, ...
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NewsEurocontrol laments ‘backwards’ progress as recovery track diverges
Eurocontrol is blaming a lack of crisis co-ordination among countries for handling air travel, after it revised downwards its expectations for traffic recovery to early 2021. Director general Eamonn Brennan says the situation is “going backwards” and that the development is “really worrying” for the airline industry. Eurocontrol puts the ...
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NewsArab-Israeli flight prospects broaden as Oman backs Bahraini diplomatic move
Oman’s government has welcomed the decision by Bahrain’s leadership to establish full normalisation of diplomatic relations with the state of Israel – potentially allowing a further expansion of Israeli-Arab air services. Bahrain is the second Arab nation within a month to reach such a decision, and the support of Oman ...
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NewsEl Al prepares to embark on crucial funding exercise
El Al has outlined its operational position to potential investors ahead of publishing a formal offer to acquire shares in the Israeli airline as part of a 505 million shekel ($145 million) issue. The airline is planning to commence the offering on 16 September, part of a recapitalisation which will ...