All Europe articles – Page 286
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NewsHSBC expects European airline consolidation amid Covid-19 crisis
The coronavirus crisis will speed up airline-industry consolidation across Europe as less profitable carriers fail or are taken over by leaner competitors, according to an analysis by HSBC. “We expect financially weak airlines that survive to be… significantly smaller as they exit the outbreak,” the bank writes in an update ...
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NewsEasyJet borrows from UK coronavirus fund as part of liquidity plan
Budget carrier EasyJet has taken steps to borrow funds from the UK government’s corporate financing facility, established to assist companies during the coronavirus crisis. EasyJet chief executive Johan Lundgren says the airline’s “priority” is to “safeguard short-term liquidity”. He says the company has been successful in issuing £600 million of ...
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NewsBusiness aircraft activity plummets in March
The coronavirus outbreak pummelled business aircraft activity in March across Asia, Europe and North America, according to German research company WingX Advance.
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NewsIncorrectly-sized parts found after Icelandair 757 gear collapse
Investigators have found incorrectly-sized components on the landing-gear assembly of an Icelandair Boeing 757-200 which suffered a main landing-gear collapse at Reykjavik earlier this year. Icelandic investigation authority RNSA has recommended specific safety checks on four aircraft serviced by Landing Gear Technologies, to ensure that parts which have undergone undersizing ...
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NewsEasyJet founder refuses to inject new funds as he directs ire at CFO
EasyJet founder and shareholder Stelios Haji-Iaonnou has refused to inject any fresh capital into the UK budget airline while a contract to acquire further Airbus jets remains in place, and is turning his wrath on chief financial officer Andrew Findlay. Haji-Ioannou has named Findlay as the second director he aims ...
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NewsIcelandair Group studies options to avoid liquidity depletion
Icelandair Group has recruited advisors to look into options for reinforcing its capital structure, and explore possibilities for strengthening its competitiveness. It states that its liquidity position is still “well above” its minimum level of $200 million. But it adds that – given the assumption of “minimum revenue generation” in ...
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NewsTrent 1000 fix progressing despite coronavirus disruption
Rolls-Royce is aiming to bring the number of Boeing 787s on the ground for Trent engine modification reasons to fewer than 10 by the end of the second quarter. While the manufacturer is taking steps to deal with the impact from the coronavirus crisis, it is maintaining efforts to address ...
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NewsRolls-Royce shores up defences as airlines’ widebody engine activity drops
Rolls-Royce has disclosed that the primary impact of the coronavirus crisis on its civil aerospace business has been a reduction in widebody engine flying hours by 25% over the first quarter, including a 50% fall in March. It expects “further deterioration” during April, and beyond, given the increasing grounding of ...
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NewsAvolon customers seek payment relief
Aircraft lessor Avolon has disclosed that the vast majority of its customers are seeking rent deferrals or reductions amid “the most challenging period in the history of commercial aviation”. In its first-quarter update, the lessor states that it “has received requests from more than 80% of its current owned and ...
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NewsSuperjet 100s contracted to support UN peacekeeping
Sukhoi Superjet 100s are to be deployed in support of United Nations peacekeeping operations for the first time, following a procurement process. The Russian foreign affairs ministry and Russia’s permanent mission to the UN have been supporting a bid for participation using the type. Federal air transport regulator Rosaviatsia states ...
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NewsA350-1000 brought in to shuttle medical supplies from China
Airbus is continuing its medical supply shuttle operation between China and Europe, adding an A350-1000 test aircraft to the list of types recruited for the effort. The A350-1000 (MSN59) operated from Tianjin to Hamburg, before flying on to Toulouse on 5 April. Airbus says the twinjet, flown by a flight-test ...
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NewsLufthansa Group finance chief resigns citing health reasons
Lufthansa Group chief financial officer Ulrik Svensson has resigned from his position, citing health reasons. The German airline company has disclosed that he will step down on 6 April. It has not given any further details on the circumstances behind Svensson’s decision. He has served as the company’s finance head ...
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NewsBoeing acknowledges ‘realities’ of market after Avolon cuts Max order
Lessor Avolon’s cancellation of 75 Boeing 737 Max jets is set to provide a degree of relief to the US airframer as it rejigs the extensive backlog for the re-engined aircraft. But Boeing also acknowledges that the decision is the “right step” to “align with the realities of the marketplace”. ...
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NewsLessor Avolon cancels or defers over 100 aircraft
Lessor Avolon is cutting its delivery commitments over the next four years by over 100 aircraft, through a combination of cancellations and deferrals including the axing of 75 Boeing 737 Max jets. Avolon says the unplaced Max aircraft had been due to arrive over 2020-23. It is also deferring another ...
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NewsEASA advises carriers to switch off recirculation fans
Europe’s safety regulator is advising commercial aircraft operators to adopt new procedures to switch off air-conditioning system recirculation fans regularly, as part of measures to limit the risk of coronavirus contagion. Supplementary procedures to turn off the fans periodically would “accelerate cabin air exchange”, says the European Union Aviation Safety ...
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NewsRyanair taking €300m charge over fuel-hedge ineffectiveness
Budget carrier Ryanair is predicting net profits of €950 million-1 billion for 2019-20 as the tail-end of its fiscal year started suffering the effects of the coronavirus crisis. It states that it is conducting fewer than 20 flights daily, and expects its fleet to stay “largely grounded” for at least ...
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NewsUS awards Lockheed $512 million for Bulgarian F-16 production
The US government has awarded Lockheed Martin $512 million to produce eight F-16 Block 70 fighters for Bulgaria. The project is expected to be completed by 31 January 2027, says the US Department of Defense in a contract announcement. The work will take place in Fort Worth, Texas and at ...
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NewsIAG cuts capacity by 90% as BA puts cabin crew and pilots on leave
IAG is to cut capacity by around 90% during April and May, up from the figure of 75% previously indicated. The group’s British Airways division has confirmed it will put more than 30,000 cabin crew and ground-based employees on furlough for the two-month period. BA will apply to take advantage ...
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NewsStruggling European business aviation industry calls for safeguards
Business aviation industry bodies are calling on European policy-makers and regulators to “protect the continuity and survival” of the sector in the face of the Covid-19 pandemic.
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NewsBA to furlough 30,000 staff: GMB union
British Airways will furlough more than 30,000 employees under the UK government’s job-retention scheme amid the coronavirus crisis, in a move the GMB union describes as “a relief”. “GMB and our sister union Unite have fought hard to secure members’ terms, conditions and job security. We believe the current deal, ...