News from FlightGlobal – Page 427
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NewsSIA Group depletes half of $6.4 billion funds raised
SIA Group has utilised half the proceeds from a S$8.8 billion ($6.4 billion) rights issue completed on 5 June. The company has drawn down a further S$2.2 billion between 15 June and 14 August, in addition to the use of S$2.2 billion previously detailed in June. Source: Max ...
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NewsQantas ekes out full-year profit despite pandemic hit
The Qantas Group says its 2020 fiscal year was the worst in its 100-year history, but still managed to turn an underlying profit before tax of A$124 million ($90 million). The A$124 million figure for the 2020 financial year ended 30 June was 91% lower than a year earlier, with ...
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NewsUS airline fleet swells in summer but autumn cuts loom
In recent months US airlines have brought some 1,600 aircraft back into their fleets, bolstering their operations amid hopes that air travel demand would rebound following a dismal spring.
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NewsIcelandair options broaden as crew duty schedules shift closer to limits
Icelandair’s new collective agreements with aircrew means pilots and flight attendants will work closer to theoretical maximum limits, and enable the airline to explore new network prospects. International regulations restrict pilots and cabin crew from operating more than 900 block hours per year. Icelandair says that, given the structure of ...
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NewsLufthansa strikes deal with pilots to avert near-term redundancies
Lufthansa has reached a deal with the Vereinigung Cockpit union covering pilots at its German operations over cost-cutting measures for the rest of the year.
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NewsHeathrow awaits approval for ‘oven-ready’ Covid-19 testing centre
London Heathrow’s Covid-19 testing facility is “ready to go” and awaiting UK government approval to test arrivals at the airport as a way of reducing the amount of time for which travellers from high-risk countries are required to quarantine.
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NewsIcelandair: Keflavik hub stands to benefit as non-stop competitors retreat
Icelandair Group has warned that if its operation collapsed, the Reykjavik Keflavik hub would take years to rebuild and, as a result, would cause substantial damage to the country’s economy. The company, which is preparing a $150 million share issue, has outlined the bleak consequences of receivership to potential investors ...
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NewsIcelandair expects four-year recovery as it revises share issue
Icelandair Group expects to start its recovery ramp-up in the second quarter of 2021, but its conservative approach will not return the operator to pre-crisis levels until 2024. The company has detailed its position to potential investors as it prepares for a share offering intended to raise IcKr20 billion ($148 ...
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NewsFive Southeast Asian countries cleared for Singapore transit via SIA Group
Malaysia, Indonesia and Thailand have joined the list of countries approved for transit flights through Singapore operated by Singapore Airlines Group’s three carriers. Two other Southeast Asian nations, Vietnam and Cambodia, were previously approved for such flights, from Hanoi, Ho Chi Minh City, and Phnom Penh. Source: Greg ...
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NewsUS and Chinese carriers can double flights between countries: DoT
The four Chinese airlines currently operating scheduled passenger services to the USA may double their services to eight weekly round-trip flights, according to the US Department of Transportation. “This aggregate level of service is equivalent to the total number of flights now permitted by the Chinese aviation authorities for US ...
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NewsIndia’s aviation minister hints at travel bubbles with neighbours
The Indian government has proposed creating “air bubbles” with five neighbouring countries, according to civil aviation minister Hardeep Singh Puri. Proposals have been made to Sri Lanka, Bangladesh, Afghanistan, Nepal and Bhutan, he said in an 18 August Twitter post. Source: IndiGo Indian sailors check-in at Doha for ...
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NewsFrontier bets on cost-sensitive travellers’ return to skies first
Like the rest of the airline industry, Frontier Airlines is cutting costs and seeking federal aid as the pandemic has obliterated passenger demand, while also defending its network position as it plans for an eventual travel recovery.
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NewsBreeze withdraws application for Compass’ certificate
Breeze Airways, the start-up passenger carrier headed by serial aviation entrepreneur David Neeleman, has abandoned its application to acquire the certificate of now-defunct Compass Airlines.
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NewsCommission clears SATA pandemic state aid but probes earlier capital increase
European regulator have backed a Portuguese €133 million support package to help Azores carrier SATA Air Acores through the coronavirus crisis, but is to probe an earlier funding.
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NewsGerman fund WSF approves local support for Lufthansa subsidiaries
German federal fund WSF has approved local financial aid for Lufthansa subsidiaries Austrian Airlines, Brussels Airlines and Swiss under the group’s €9 billion ($10.6 billion) support package from the government in Berlin. Austrian chief executive Alexis von Hoensbruch describes the approval as a “last hurdle” and expresses gratitude for the ...
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NewsEmirates chief: Sustained social-distancing ‘economic catastrophe’ for airlines
The industry’s recovery from the coronavirus crisis rests squarely on a vaccine, as a sustained policy of social distancing would be an “economic catastrophe”, says Emirates Airline president Tim Clark. But he is “100% confident” that one will be found.
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NewsWizz cements Gatwick ambitions by opening new base
Expanding low-cost carrier Wizz Air has further outlined its intent to grow at London Gatwick airport after announcing plans for a single-aircraft base and the launch of four new routes from this October.
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NewsStobart Group warns of job cuts after EasyJet closes two London bases
Stobart Group has signalled that job cuts could be imminent at Stansted and Southend, as a result of EasyJet’s decision to close its bases at the two London airports.
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NewsPalestinian Airlines offers Fokker 50 fleet for sale
Palestinian Airlines has put up for sale its pair of Fokker 50 turboprops, but insists its operation is not closing down. The carrier commenced operations in mid-1997 with pilgrim transport to Jeddah. It subsequently established its base at Gaza airport which opened the following year, but Israeli forces destroyed the ...
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NewsSwedish debt office denies credit guarantee to Norwegian's local operation
Scandinavian budget carrier Norwegian’s Swedish division has been denied a credit guarantee by the Swedish national debt office. The office states that it has “decided to reject” the application because guarantees can only be granted to airlines considered financially viable on 31 December 2019. It says there was a “very ...