News from FlightGlobal – Page 353
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News
AerCap agrees acquisition of US lessor GECAS
Leasing giant AerCap has agreed to acquire US lessor GECAS, creating a leviathan with over 2,000 aircraft and more than 900 engines as well as 300 helicopters. AerCap says it has entered into a “definitive agreement” – unanimously approved by the companies’ boards – under which General Electric will receive ...
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Firmer crude oil bolsters jet fuel prices
The price of jet kerosene is continuing to strengthen despite weak demand from airlines, as firmer crude oil values filter through to the market.
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Leonardo anticipates slight recovery from ATR in 2021
Turboprop joint venture ATR should hand over at least 20 aircraft this year as regional carriers begin a slow recovery from the Covid-19 crisis.
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Cathay sees no further fleet cuts following record loss
Cathay Pacific Group does not expect to park more aircraft in long-term storage overseas beyond those already in Australia and Spain, as it looks at cargo opportunities for more aircraft types to bolster revenue.
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Cut in UK domestic air passenger duty floated for transport consultation
Consultation is set to take place on cutting the UK’s air passenger duty scheme as part of a broad government rethink on the country’s transport network. Air passenger duty is a distance-based scheme which is pitched as a mechanism for addressing environmental concerns, but has long been controversial with airlines. ...
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Cathay retires 34 aircraft early, parks nearly half its fleet overseas
Troubled Cathay Pacific Group took a one-time HK$2.8 billion ($361 million) impairment charge relating to the early retirement of 34 aircraft, as it discloses that nearly half of its fleet are in long-term storage overseas.
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Covid-19 pushes Cathay to record operating loss
Cathay Pacific Group saw its full-year passenger revenue collapse to just 2-3% of pre-pandemic levels, as it warned that its immediate outlook continues to be challenging.
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Recovery unsustainable without Travel Pass-style apps: IATA
Governments around the world are not moving quickly enough to plan for the reopening of international travel markets, in the view of IATA, particularly when it comes to the creation of digital standards for Covid-19 testing and vaccination records.
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AerCap confirms GECAS talks
AerCap has confirmed it is in talks with General Electric in respect to GECAS, but notes that the outcome of the discussions “has yet to be determined”.
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Icelandair returns Boeing 737 Max to revenue service
Following the lifting of the 737 Max’s grounding, Icelandair has resumed commercial flights using the Boeing narrowbody after a nearly two-year break.
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Frontier seeks IPO after cancelled attempt in 2020
Frontier Airlines on 8 March filed for an initial public offering of stock with the US Securities and Exchange Commission, a year after cancelling its previous bid for a $100 million offering that it initiated in 2017.
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Alliance enters five-year base check deal for F70s and F100s
Australia’s Alliance Airlines has entered into a five-year heavy maintenance agreement with Fokker Services for its Fokker F70 and F100 aircraft.
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Amazon takes stake in Air Transport Services Group
Amazon Air has taken a stake in lessor and cargo operator Air Transport Services Group (ATSG), worth $132 million.
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US Congress approves aviation payroll support extension
Both houses of the US Congress have passed the third comprehensive coronavirus relief package for the air transport industry, which would grant airlines $14 billion more in payroll support as the crisis drags on.
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Wizz to add new Italian base
Central European budget carrier Wizz Air is opening a new base at Palermo.
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Lufthansa expands rail offering through Deutsche Bahn
Lufthansa is expanding its joint product with German rail operator Deutsche Bahn as it looks to improve connectivity and reduce emissions.
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Transportation Partners finance chief to depart: sources
Transportation Partners chief financial officer Valerie Tay is set to step down.
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Cebu Pacific secures $329 million loan from local syndicate
Philippine low-cost carrier Cebu Pacific (CEB) has secured a Ps16 billion ($329 million), 10-year loan today, from a syndicate of private and government banks.
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De Havilland entitled to terminate SpiceJet Dash 8 order: UK judge
Turboprop manufacturer De Havilland Aircraft of Canada was entitled to terminate a Dash 8-400 purchase agreement with Indian carrier SpiceJet after the airline stopped making payments and taking delivery of aircraft, a judge has ruled. SpiceJet originally ordered 25 of the type from Bombardier – part of a September 2017 ...
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Four-ship Welsh flypast marks Wizz Air UK’s upcoming Cardiff base
Four Wizz Air UK Airbus A321s have marked the upcoming opening of a Cardiff base by conducting a flypast of cities in south Wales. The aircraft formation departed London Luton between 13:45 and 14:00 on 6 March. Wizz Air UK says that, ahead of the base’s opening on 17 May, ...