News from FlightGlobal – Page 458
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NewsEuropean carriers take tentative steps to restoring networks
Several European operators have announced more tentative steps to restoring their networks, including the resumption of services by Lufthansa Group operators Austrian Airlines and Brussels Airlines in June. Austrian Airlines, which suspended flights on 19 March, has today announced it will resume scheduled flights to mostly European cities in mid-June. ...
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NewsNorwegian clings to restructuring hopes as Q1 losses widen
Norwegian’s first-quarter losses have widened significantly to NKr3.28 billion ($331 million) and the company remains in “hibernation mode”, in the hope that its recent financial restructuring and state-aid lifeline will enable it to have a future.
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NewsEasyJet to axe up to 30% of jobs as it cuts fleet
EasyJet is to begin consultations on proposals to cut staff levels by up to 30% as it expects to reduce its fleet by 51 through a mix of deferrals and returning leased aircraft by the end of 2021. In a trading update released today the UK budget carrier says it ...
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NewsSAS to defer Airbus deliveries as it overhauls business plan
Scandinavia’s SAS is to defer and review future Airbus deliveries and those from lessors, as part of its response to the coronavirus crisis, as it continues to pursue additional funding. The airline is drawing up a revised business plan which aims to bring SKr4 billion ($417 million) in improvements by ...
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NewsThai Airways appoints planners for business rehabilitation
Thai Airways International has appointed five people, including one of its former presidents, to jointly hold the position of plan preparer during its business rehabilitation process. The carrier’s chairman Chaiyapruk Didyasarin and acting president Chakkrit Parapuntakul have been appointed, along with three newly appointed board members: former president Piyasvasti Amranand, ...
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NewsLessor Avation pulls the plug on sale process
Avation is ending its formal sale process as the Covid-19 pandemic brings unprecedented disruption to the aviation industry that is still ongoing. The Singapore-based lessor says in a 27 May statement that over the past “several weeks”, Covid-19 has “continued to disrupt business activities, particularly air travel, on an unprecedented ...
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NewsChina opens ‘green channel’ for charters
China’s aviation regulator will gradually reopen its borders, as it allows selected travellers from certain countries to travel to the country. Under a new “green channel” policy, the Civil Aviation Administration of China (CAAC) will allow carriers — both Chinese and international — to apply for rights to operate ...
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NewsBankruptcy is not a financial tool: American chief
American Airlines chief executive Doug Parker expects all the major US airlines to survive the current zero-revenue environment created by coronavirus pandemic, including the one he leads. Despite the many millons of dollars being burned daily by American (and by its peers), filing for bankruptcy protection is not perceived by ...
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NewsAir Canada seeks five new international cargo routes
Air Canada is seeking government approval to add five new destinations in Europe and South America to its air freight network starting 1 June, seeking to take advantage of demand for cargo capacity even as passenger travel demand remains stagnant. If approved, the Canadian flag carrier would operate air freight ...
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NewsRyanair challenges Lufthansa state-aid package
Ryanair plans to appeal against Lufthansa’s €9 billion ($9.9 billion) financial package from the federal German government on the grounds that it “distorts competition”. Lufthansa Group received approval from the German government’s economic stabilisation fund, WSF, on 25 May for a rescue deal under which the fund would take a ...
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NewsUnited reshuffles management to prepare for post-coronavirus world
United Airlines says that it is reshuffling top management roles to better prepare itself for a post-coronavirus transformation.
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NewsAmerican sees signs of travel rebound
American Airlines says it sees promising signs of a rebound in air travel after the coronavirus pandemic decimated the industry earlier this year, but warns that the bounce in demand is tenuous, and from a vanishingly low level.
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NewsKenya Airways losses widen in 2019 on higher costs
Kenya Airways pre-tax losses deepened to KSh13 billion for the year ending December 2019 despite increasing passenger levels and revenues.
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NewsAdministrators see ‘reasonable’ prospect of SAA rescue
Business rescue practitioners at South African Airways describe as “reasonable” the prospects of rescuing the struggling carrier, though stress this is dependent on the necessary funding.
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NewsLufthansa board delays state aid approval over EU conditions
Lufthansa’s supervisory board has postponed pushing ahead with approving crucial state-supported funding because of European Commission conditions attached to the package.
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NewsSAA rescuers pour cold water on plan to resume domestic flights
South African Airways’ plan to restart domestic flights in mid-June has been called into question by its rescuers, who have criticised the airline for releasing an “unvetted” public statement that created an “unfair expectation” among stakeholders.
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NewsLATAM immediately cutting 19 leased aircraft from fleet
LATAM Airlines Group has identified 19 leased aircraft which it will cut from its operators’ fleets, following the company’s filing for US Chapter 11 creditor protection. Six long-haul jets – comprising two Airbus A350-900s and four Boeing 787-9s – are among the aircraft listed in the filing. The remainder is ...
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NewsCebu Pacific seeks SLBs for entire A320 fleet: sources
Cebu Pacific is seeking sale-and-leasebacks for as many as 17 of its Airbus A320s, according to two sources. The airline was originally seeking to lease-back 14 of the aircraft, but subsequently increased the number to 17 to encompass its entire owned A320 fleet, according to one of the sources. Besides ...
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NewsCourt accepts Thai Airways rehabilitation filing: sources
A Thai bankruptcy court has today accepted Thai Airways International’s application for business rehabilitation, and a hearing will be held in under three months as to whether the company should be permitted to enter that process, according to two sources. “Today, the court has accepted the request for business rehabilitation ...
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NewsHainan reduces shareholding in MRO arm, divests training unit
Hainan Airlnes will reduce its stake in its MRO unit and divest its training unit to other HNA Group companies as it seeks to intensify its focus on the core passenger and cargo business. Hainan will reduce its stake in MRO unit HNA Technic to about 68%, with the ...