News from FlightGlobal – Page 409
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NewsFinnair develops ‘financial bazooka’ to survive crisis
Finnair has enough cash to survive until late 2021 with little or no flying, having introduced a raft of financial measures to ensure it can survive the coronavirus crisis
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NewsTrump lawyer and former UN ambassador proposed for El Al board
Israeli flag-carrier El Al’s shareholders are to meet in November to approve a new board of directors, including Jason Greenblatt, the former chief lawyer to US president Donald Trump. Greenblatt is one of six directors proposed for the board following the stock issue in September during which El Al underwent ...
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NewsChina Southern prices CNY16 billion convertible bond
China Southern Airlines has announced pricing of an upcoming convertible bond issue that is set to raise CNY16 billion ($2.4 billion) for the carrier. The bonds, convertible to mainland China-listed A-shares, will bear 0.2% interest in the first year, 0.4% in the second year, 0.6% in the third year, 0.8% ...
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NewsChina Eastern parent gets CNY31 billion cash injection
China Eastern Airlines’ parent company, China Eastern Group, has received a CNY31 billion ($4.6 billion) capital boost from four state-owned enterprises. The four companies involved in the capital increase are China Life Investment Holdings, which will inject CNY11 billion; Shanghai Jiushi Group with CNY10 billion; as well as China Guoxin ...
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NewsSubtle shifts in travel may drive long recovery: trade group
As air travel struggles to return to pre-coronavirus levels, the industry is adopting new patterns of operating that might become permanent during a prolonged recovery, the airline trade group Airlines for America (A4A) says.
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NewsAllegiant hopes its focus on underserved routes will help it beat coronavirus
Allegiant Air says that its laser-focus on underserved routes, the most popular travel days of the week and cost-conscious leisure travellers will be key to pulling itself out of the coronavirus crisis.
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NewsDelta eyes potential Covid boost to regional flying
Will the coronavirus pandemic cause a long-term bump in air travel from small- and medium-size airports?
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NewsSouthwest to begin O’Hare and Houston Intercontinental flights in 2021
Southwest Airlines in 2021 will begin flights at Chicago O’Hare International and Houston George Bush Intercontinental airports.
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NewsSpirit CEO predicts quicker recovery than larger competitors
The chief executive of Spirit Airlines suspects his carrier will recover from the coronavirus downturn faster than major US carriers, though the pace of Spirit’s long-term fleet-growth plan remains uncertain.
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NewsFlight-tracking data shows fortunes varying by region
Global passenger jet flight numbers declined overall in September compared with the prior month, reflecting typical seasonality in demand as the northern summer peak season drew to a close, Cirium data shows.
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NewsHeathrow passenger numbers down more than 80% in September
London Heathrow’s chief executive has once again urged the UK government to “act quickly” on introducing an airport Covid-19 testing programme, after the airport’s passenger numbers fell 81.5% year on year in September.
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NewsTwo Yakutia Superjets overran same icy runway within two hours
Russian investigators have disclosed that a Yakutia Sukhoi Superjet 100LR crew experienced serious braking problems and overran a Siberian runway just 2h before a similar event badly damaged another Superjet from the same carrier. Yakutsk airport’s runway 23L had been undergoing construction work, shortening it by 1,150m and limiting its ...
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NewsWeekly flights across European network fall below mid-July levels
Fresh data from Eurocontrol shows there were under 100,000 weekly flights across the European network for the first time since mid-July. Eurocontrol’s latest weekly dashboard indicates there were 99,217 flights during the week ending 11 October. “[The] Network saw fewer than 100k flights – the first time this has happened ...
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NewsBritish Airways chief Alex Cruz to step down, succeeded by Aer Lingus head Doyle
British Airways chief executive Alex Cruz is to step down from his position, after four years, to be succeeded by Aer Lingus chief Sean Doyle. Parent company IAG states that the change is part of a management reshuffle that takes place “with immediate effect”, but has not elaborated on the ...
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NewsLessors reject Malaysia Airlines’ restructuring plan: report
Most of Malaysia Airlines’ lessors have rejected a restructuring plan it proposed, according to a media report. Lessors claiming to represent 70% of the aircraft and engines leased to the airline group have called the plan “inappropriate and fatally flawed” and pledged to challenge it, Reuters reported on 10 October, ...
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NewsThai Vietjet charts modest expansion amid weak market
Thai Vietjet Air plans to both grow its fleet and add staff even though domestic air travel with Thailand remains subdued amid the coronavirus pandemic. The airline says it plans to grow its fleet to 15 aircraft “by 2021”, and is in the process of hiring additional flight crew, ground ...
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NewsHawaiian Airlines suspends Ohana by Hawaiian service
Hawaiian Airlines has said it will suspend its regional subsidiary Ohana by Hawaiian on 1 November as the carrier continues to experience economic hardship due to the coronavirus and resulting quarantine requirements.
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NewsItalian ministers sign decree establishing Alitalia successor
Italy’s government has signed an air transport decree to establish a new national airline to succeed flag-carrier Alitalia. The government is referring the operator as Newco, but transport minister Paola De Micheli signals that the company’s formal name is ITA, adding that the company will “bring Italy to the world”. ...
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Air Canada and Transat sharply discount takeover deal
Air Canada and Transat AT, the parent company of Air Transat, have renegotiated the terms of their planned tie-up, sharply discounting the price per share. The move was prompted by the devastating impact of the coronavirus on the air transport industry. The two Montreal-based carriers stated on 10 October that ...
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NewsNorwegian opens consultation over Gatwick job cuts
Scandinavian low-cost carrier Norwegian has opened a formal consultation over staff cuts at its London Gatwick base as the sustained impact of the global pandemic on air travel continues. The consultation relates primarily to short-haul pilots and cabin crew at Norwegian’s Gatwick base and potentially covers 259 roles. The airline ...