News from FlightGlobal – Page 440
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NewsVietnam Airlines needs liquidity support by end of August: CEO
State-owned Vietnam Airlines will need liquidity support by the end of August, the airline’s chief executive Duong Tri Thanh has said. Speaking at a meeting held on 13 July with the Vietnamese prime minister’s economic advisory group, which Cirium did not attend, Thanh said his airline has lost D50 trillion ...
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NewsTaiwanese carriers suffer big Q1 operating losses
Two of Taiwan’s largest carriers — China Airlines and EVA Air — posted operating losses for the quarter ended 31 March, as they felt the impact of the coronavirus outbreak. While operating costs and expenses fell, both carriers reported a big drop in revenue, in part due to global pandemic-related ...
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NewsChina Southern to deploy ARJ21s at Beijing Daxing
China Southern Airlines has commenced operations of its Comac ARJ21 regional aircraft, operating a domestic flight from its Guangzhou Baiyun hub to Jieyang. The carrier will initially operate the regional jets out of Guangzhou, but will eventually deploy them at its Beijing Daxing hub. It did not state which other ...
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NewsAmerican Airlines warns 25,000 employees of pending job losses
American Airlines has warned 25,000 employees that they may be out of a job when the USA’s federally funded payroll support programme runs out on 1 October.
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NewsAir Canada re-ups appeal to end quarantine requirements
Air Canada has reiterated its call for the government of Canada to ease four-month-old coronavirus-prompted travel restrictions that have disrupted the country’s aviation industry and which continue to be a severe drag on air transport.
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NewsEl Al pilots absent as negotiators reach cockpit savings agreement
Israeli trade union centre Histadrut has reached a new efficiency agreement covering flag-carrier El Al’s pilots, although the pact has been arranged without the pilots’ representatives. Histadrut states that the agreement, reached on 15 July after discussions with the transport workers’ union, will enable the carrier to save $105 million ...
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NewsUnstable approach rate rose sharply as air transport crisis unfolded
Analysis of flight operations data during the downturn in air transport activity has revealed a sharp increase in the proportion of unstable approaches. The number of unstable approaches per 1,000 operations increased to around 28 in April and 37 in May, two months in which air transport was badly affected ...
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NewsFAA bans Pakistan-based carriers from US airports
The Federal Aviation Administration has banned airlines from Pakistan from flying to US airports due to safety concerns.
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NewsAir Baltic expects growth ‘leading to IPO’ as bailout is approved
Shareholders in Air Baltic have approved a €250 million ($285 million) investment by the Latvian government to ensure the carrier’s survival amid the coronavirus crisis.
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NewsSlower traffic recovery in June adds to Singapore Airlines pain
Singapore Airlines Group expects a “material” operating loss for the quarter ended 30 June, as it warned of a “slower than initially projected” recovery trajectory from the coronavirus outbreak. In June, the group’s carriers — comprising SIA, SilkAir and low-cost unit Scoot — carried just 17,700 passengers. While this ...
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NewsHelvetic converts E2 order to larger variant
Swiss operator Helvetic Airways is to switch part of its order for Embraer regional jets to the larger E195-E2 variant. Helvetic will configure the aircraft with 134 seats, in a single-class layout, compared with the 110 seats of its E190-E2s. The airline had originally ordered 12 E190-E2s, powered by Pratt ...
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NewsHong Kong government appoints board observers to Cathay Pacific
The Hong Kong government has appointed two observers to the board of Cathay Pacific Airways, as part of its bailout plan for the Chinese special administrative region’s flag carrier. Carlson Tong and Rimsky Yuen joins the board as observers with immediate effect, the government said in a 14 July statement. ...
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NewsLessors bemoan lack of clarity around Garuda’s bailout
Garuda’s lessors are concerned about the lack of clarity surrounding the quantum and timing of an expected government bailout seen as key to the survival of Indonesia’s national carrier, even though it pulled off a three-year extension of its $500 million sukuk last month. Lessors tell Cirium they have been ...
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NewsVolga-Dnepr Group overhaul to bring three freight airlines together
Russian outsize freight specialist Volga-Dnepr Group is preparing to undergo a restructuring to improve management efficiency across its business divisions. Volga-Dnepr has revamped its board of directors and discussed a new strategy to transform the business into a “monocompany”, it states. This would “optimise” the group’s operating divisions, it adds. ...
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NewsUN court rejects Gulf states appeal in Qatar blockade case
An international court has rejected an appeal by four Gulf states countering ICAO’s right to rule on a challenge to the three-year air space restrictions imposed on Qatari aircraft.
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NewsDelta says road to recovery will be long and ‘choppy’
Delta Air Lines has seen a few positive signals for a recovery after the coronavirus pandemic almost completely shut down air travel during April, as it was able to reduce cash burn amid a small increase in bookings, but the airline’s losses during the quarter indicate the industry’s crisis is still far from over.
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NewsCreditors approve South African Airways rescue plan
Creditors have today approved a business rescue plan (BRP) for South African Airways.
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NewsVirgin Atlantic eyes profit from 2022 after sealing vital £1.2bn refinancing
Virgin Atlantic has finalised a £1.2 billion refinancing package over the next 18 months.
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NewsDelta posts huge second-quarter loss as pandemic takes toll
Delta Air Lines posted an adjusted pre-tax loss of $3.9 billion for the second quarter, even before fleet restructuring costs and investment write-downs widened its overall coronavirus crisis losses incurred for the period.