News from FlightGlobal – Page 488
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NewsSingapore Airlines halves capacity, seeks liquidity boost
Singapore Airlines will operate at 50% capacity until end-April and is looking to shore up liquidity. “Given the growing scale of the border controls globally and its deepening impact on air travel, SIA expects to make further cuts to its capacity,” the carrier says in a statement. ...
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NewsVietnam to cease visa issuance for one month
Vietnam will cease issuing visas for incoming visitors over the next 30 days as the country seeks to prevent the spread of coronavirus. According to a government web site, exceptions include overseas Vietnamese and their spouses and children, but only if they can submit papers that prove they have not ...
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NewsTrans States Airlines to fold in April
Trans States Airlines, which announced last month that it would be shuttering at the end of the year due to consolidation and a pilot shortage, has told its employees that it will go out of business nine months earlier, on 1 April. It could be the first US airline to fall victim to the coronavirus that has decimated the industry.
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NewsWestJet suspends international operations
Canada’s WestJet will shut down international operations as the coronavirus prompts governments to close borders and impose other measures to stop the spread of the virus.
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NewsTrump administration proposing aid package that would leave US carriers ‘in good shape’
The US government is working with Congress to pass legislation that would provide financial support a broad swath of US industry, including to the country’s airlines, which have been hammered in recent days by a collapse in demand.
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NewsUS airline group details $58bn government aid request
The group, as previously reported, has asked for $50 billion in support of passenger airlines. But it also requests $8 billion for cargo carriers, and tax breaks from a fund that generated almost $16 billion in fiscal year 2018 revenue. It is receiving criticism after many airlines spent free cash flow on stock repurchases recently.
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NewsBrussels Airlines to shut down for a month
Brussels Airlines has become the latest carrier to shut down services in the wake of the coronavirus outbreak, suspending all scheduled flights for a month. It says the services will be gradually wound down and then halted on 21 March and will not restart until 20 April. “We need to ...
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NewsIATA warns government action needed to tackle airline liquidity crisis
Airline trade association IATA is calling for governments to urgently step in with financial support measures, warning a liquidity crisis resulting from the swathe of capacity cuts means many airlines are close to running out of cash.
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NewsSwiss bolsters senior management to face coronavirus fallout
Swiss has shored up its management teams in order to provide greater corporate stability as the Lufthansa Group carrier deals with the consequences of the coronavirus outbreak. It has installed Markus Binkert as its chief financial officer – a position which had been left vacant – and appointed Thomas Frick ...
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NewsAlitalia to be renationalised under broad emergency decree
Italy’s government has indicated that it will renationalise struggling flag-carrier Alitalia as part of a broad set of emergency measures in response to the coronavirus outbreak. The government says, in a decree published on 16 March, that the epidemic is being formally recognised as a “natural disaster and exceptional event”. ...
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NewsLauda halts all flights until 8 April
Ryanair’s Austrian subsidiary Lauda has suspended all flights until 8 April. The Vienna-based airline has been serving more than 100 destinations across some 30 European countries and has stations in German cities Dusseldorf, Stuttgart, Spanish island Majorca, and Croatian city Zadar. Source: Lauda Cirium fleets data shows ...
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NewsOutbreak halts talks on London Southend stake sale
London Southend airport operator Stobart Group has disclosed that it has been negotiating sale of a minority share in the airport, but that discussions have been suspended as a result of the coronavirus uncertainty. The discussions had signalled a value for the airport of £700-800 million, says the company, referring ...
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NewsAirbus halting French and Spanish production for four days
Airbus is to halt production across its French and Spanish facilities for four days to give the company time to implement strict hygiene measures in response to the coronavirus outbreak. The airframer says the decision follows introduction of new procedures in both countries intended to contain the illness. Airbus says ...
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NewsAir NZ cuts trans-Tasman capacity by 80%
Air New Zealand is making cuts to its trans-Tasman network that will reduce capacity by 80%, starting from 30 March to 30 June. The changes are a result of the impact of the coronavirus outbreak on travel demand, the carrier says. Carriers flying trans-Tasman routes, February 2020 ...
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NewsCoronavirus costs Cathay HK$2 billion in February
Cathay Pacific made an unaudited loss of more than HK$2 billion ($257 million) in February, as it takes a hit from the coronavirus outbreak. Meanwhile, Singapore Airlines saw falling passenger numbers for the month, and warns of weakened travel demand in the near term.
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NewsQantas to ground nearly entire widebody fleet, cut capacity further
Australia’s Qantas Group will ground 150 aircraft — including “almost all” of its widebody fleet —amid deeper capacity cuts across both its international and domestic networks.
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NewsBOC Aviation to acquire six Cathay 777s under sale-and-leaseback
Cathay Pacific and BOC Aviation have agreed a sale-and-leaseback which will cover six Boeing 777-300ER jets. The Hong Kong-based carrier warned on 11 March that it expects to incur a “substantial loss” over the first half of this year and that its liquidity position would be “adversely impacted” by plummeting ...
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NewsIATA: ‘urgent measures’ needed to support air cargo
The International Air Transport Association (IATA) has appealed to governments to take “urgent measures” to support cargo operations, which is instrumental to transport essential medical supplies and keep the economy functioning as airlines cut passenger service up to 75%.
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NewsTrump promises to ‘help’ US airlines
US president Donald Trump says the government will back airlines as they struggle to manage the fallout from the global coronavirus pandemic.
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NewsUS airlines ask for $50 billion in government aid
US airlines are seeking at least $50 billion in aid to support them as they manage through the coronavirus crisis that has caused a sharp drop in demand, leading to mounting losses for an industry accustomed to years of progressive profit growth.