All Europe articles – Page 265
-
NewsAir Europa acquisition remains justified: IAG’s Walsh
IAG is striving to close the acquisition of Air Europa by the end of this year, undeterred by the impact of the air transport crisis, although it is reviewing the structure of the €1 billion ($1.2 billion) deal in response to the downturn. While outgoing IAG chief Willie Walsh has ...
-
NewsTUI agreement further lifts BOC Aviation's 737 Max sale-and-leases
TUI Group has carried out a sale-and-leaseback of five Boeing 737 Max jets with the Singaporean-based lessor BOC Aviation. The European holiday company values the agreement – reached with UK subsidiary TUI Travel Aviation Finance – at $226 million. TUI Group is expecting the first of the Max 8s involved ...
-
NewsAir France-KLM aims to minimise fleet deferrals to keep competitiveness on track
Just six aircraft ordered by Air France-KLM have so far been pushed back to later delivery slots in the past six months, although KLM has yet to detail its full fleet plan. Air France-KLM states that its competitiveness and sustainability is closely tied to its fleet and network strategy. “Mid- ...
-
NewsRussian carriers begin resuming international services
Russian operators are restarting international services after the government started clearing restoration of links with countries including Turkey, the UK and Tanzania. Aeroflot is re-opening its links from Moscow Sheremetyevo to Istanbul and London Heathrow on 1 August, both routes being served by Boeing 777s. Aeroflot’s budget sister carrier Pobeda ...
-
NewsIAG Cargo sees large revenue gain after responding to freight crisis
IAG’s cargo arm has seen a surge in revenue and yield after quickly responding to the changing market conditions brought on by the coronavirus pandemic.
-
NewsBA axes A318 premium service that took over Concorde flight number
British Airways is to axe its premium Airbus A318 transatlantic service from London City to New York JFK, as part of its re-organisation to deal with the air transport crisis. The operation had already been halved to a single aircraft, after BA transferred the other A318 used on the route ...
-
NewsDemand stays strong for ‘preighter’ passenger-freighter operations
The rapid introduction of passenger aircraft in the dedicated freighter role has been a key development during the coronavirus pandemic – one cargo experts see as continuing.
-
NewsIAG to maintain Level’s Barcelona arm after crisis-driven retreat
IAG is to maintain its Level operation out of Barcelona, having retreated from its expansion of the budget brand in other parts of Europe. The parent company indicates that it is cutting back Level’s long-haul fleet of seven Airbus A330-200s to just two aircraft. Level had four A330s deployed in ...
-
NewsEurocontrol reports flattening in airline traffic recovery curve
Eurocontrol has observed a slowing in the growth rate of flight numbers in Europe since mid-July.
-
NewsIAG impairs fleet after BA 747 and Iberia A340 retirements
IAG has taken a €729 million ($863 million) charge in conjunction with a broad fleet impairment covering 61 aircraft, including the withdrawal of British Airways’ Boeing 747-400 fleet and Iberia’s Airbus A340-600s. The exceptional charge deepened IAG’s already-dire operating loss for the first half to just over €4 billion, in ...
-
NewsKLM to cut 15% of workforce amid ‘new reality’
Dutch carrier KLM is to cut up to 5,000 full-time positions to “adapt its size to the new reality” created by the coronavirus pandemic.
-
NewsIAG names Ferran to succeed Vazquez as chairman
Javier Ferran has been named as the successor to IAG chairman Antonio Vazquez, following unanimous approval by the group’s board of directors. IAG says that Vazquez announced his intention to retire in January 2021 after reaching nine years in office last January, which is the maximum recommended in the UK ...
-
NewsQatar Airways on board as IAG proposes €2.75bn capital increase
British Airways and Iberia parent IAG is proposing a €2.75 billion capital increase, to which Qatar Airways – its largest shareholder with 25% – has already agreed to sign up. IAG says the increase would strengthen its balance sheet and liquidity, and reduce financial leverage, given that it does not ...
-
NewsAir France-KLM aims to keep medium-term fleet delivery schedule intact
Air France-KLM Group has recorded a €520 million impairment from its early phase-out Airbus A380 operations, and another €72 million from withdrawal of A340s for the second quarter. But it says it intends to keep the schedule of committed fleet deliveries for 2021-25 “as much as possible intact”, and is ...
-
NewsAeroflot detects ‘gradual recovery’ in domestic flights
Russian flag carrier Aeroflot slipped to a net loss of Rb26.2 billion ($356 million) in the second quarter, from a profit of Rb2.73 billion a year ago.
-
Airline BusinessAirlines left doubting if enough people can, or will, travel in 2020
The industry’s relief at being able to ramp up services as the second half of 2020 began is quickly being replaced by concern that the coronavirus is likely to weigh more heavily on demand than previously thought.
-
NewsAirbus expects to set aside up to €1.6bn for restructuring
Airbus has warned that it is likely to require a provision of up to €1.6 billion ($1.9 billion) to account for restructuring once firm agreements are reached with its social partners. The airframer disclosed in June that, in response to the air transport crisis and the scaling-back of commercial aircraft ...
-
NewsAirbus impairs inventories ‘at risk’ as stored aircraft level rises
Airbus has recorded a near-€300 million charge for impairment of inventories considered at risk, as stored aircraft continue to push up its inventory level. The airframer reveals in its first-half accounts to 30 June that its inventories stood at €37.5 billion – up by nearly €6 billion on the figure ...
-
NewsAirbus trims A350 rates again as crisis becomes ‘visible’ in second quarter
Airbus is trimming A350 production rates, to five aircraft per month from six, in a further adjustment to its output in the face of weak air transport market demand. The airframer has disclosed that some 145 commercial aircraft went undelivered during the first half of this year, as a result ...
-
NewsHeathrow issues Covid-19 testing plea as losses mount
London’s Heathrow airport has reiterated calls for the UK government to introduce a Covid-19 testing programme as an alternative to quarantine for arriving passengers.