News from FlightGlobal – Page 492
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NewsEuropean aviation stocks punished after US travel ban
European airline and aerospace stocks have been hammered in early trading after the US government imposed a drastic ban on transatlantic travel. Air France-KLM and Norwegian shares sank by close to 20% as the markets opened on 12 March, while shares in other major operators including IAG, Lufthansa and SAS ...
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NewsKorean Air raises alert on coronavirus impact
Korean Air’s president, Woo Kee-hong, has painted a dire picture for the carrier in the wake of the coronavirus outbreak. In an internal memo, he told employees that coronavirus-related travel restrictions led the airline to cut more than 80% of its international capacity, in contrast with 18% during the 1997-98 ...
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NewsAsia-Pacific February deliveries collapse amid coronavirus
Deliveries of new aircraft to Asia-Pacific collapsed in February, with only 11 aircraft delivered to the region out of the global total of 77. According to Cirium fleets data the Asia-Pacific, consistently the leader in aircraft deliveries, trailed both Europe, which saw 29 new aircraft delivered, and North America, where ...
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NewsFAA grants slot waivers to help airlines hurt by coronavirus
The US Department of Transportation has granted airlines slot relief after carriers and industry group IATA complained it was unfair to maintain those rigid rules as fear of the coronavirus decimates passenger demand across the industry.
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NewsUK chancellor sets ‘spring 2020’ timing for APD reform consultation
Consultation on a review into the UK air passenger duty levels is now expected in “spring 2020” the country’s new chancellor Rishi Sunak disclosed today in delivering his first budget.
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NewsLos Angeles teacher sues Delta for fuel dump
A teacher at a Los Angeles area high school has sued Delta Air Lines following a fuel dump from a Delta jet experiencing engine troubles after departing Los Angeles International airport.
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NewsComair pushes Boeing on compensation amid ongoing Max disruption
The airline is considering fleet renewal alternatives as it seeks to accelerate talks with manufacturer over grounding of the 737 Max.
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NewsKuwait’s government to halt all air services indefinitely
Kuwait’s government has disclosed that all flights to and from the emirate will be suspended from 13 March. The suspension over the coronavirus outbreak will remain in effect “until further notice”, the government has declared. Only Kuwaiti citizens and their immediate relatives will be permitted to fly into the Gulf ...
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NewsConviction for Pan Am 747 bombing over Lockerbie set for appeal
Scottish judicial authorities have referred the case of the Pan Am Boeing 747-100 bombing over Lockerbie to a court of appeal, 19 years after the only conviction for the attack was secured. The bombing on 21 December 1988 resulted in 259 fatalities from the aircraft, operating flight PA103 to New ...
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NewsAir Canada cancels 11 737 Max orders
Air Canada says it has cancelled orders for 11 Boeing 737 Max aircraft as it reassess its needs in the wake of the troubled aircraft’s year-long grounding.
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NewsCathay Pacific in talks to defer aircraft deliveries
Cathay Pacific is in talks with Boeing and Airbus over possible deferral of aircraft deliveries this year, as the coronavirus outbreak leaves an impact on its fiscal performance. At a briefing after Cathay released its annual results for 2019, chief operations and services delivery officer Greg Hughes confirmed that discussions ...
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NewsAir Baltic to cut staff as coronavirus ends positive run
Latvia’s Air Baltic is to cut its workforce by up to 250 personnel in a measure to stave off the impact of the coronavirus outbreak. Air Baltic, which employs around 1,600 staff, says it will “temporarily” reduce the workforce – mainly by cutting crew. It says it ...
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NewsKorean Air grounds A380 fleet until 25 April
Korean Air has grounded its entire fleet of 10 Airbus A380s amid the traffic slump caused by the coronavirus outbreak. The 10 A380s will be grounded until 25 April, says the airline. Out of the airlines’ 145 aircraft, 100 grounded. South Korea has emerged as a major ...
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NewsSouthwest uncertain over growth once 737 Max deliveries resume
Almost one year after the Boeing 737 Max was grounded, Southwest Airlines chief Gary Kelly has alluded to a fringe financial benefit from the Max situation as the budget carrier braces for the impact of the coronavirus outbreak. Kelly says the severity of the decline has been “breathtaking”, with the ...
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NewsIndonesia AirAsia parent issues first-quarter profit warning
The parent company of Indonesia AirAsia (IAA) has issued a profit warning for the current quarter, attributing it to new lease accounting standards and projected declines in ticket sales due to the coronavirus outbreak. In an Indonesia Stock Exchange disclosure, AirAsia Indonesia discloses that implementing the new standard will result ...
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NewsMalindo Air transferring 15 Boeing 737s to Batik Air
Malindo Air will begin transferring 15 Boeing 737s to its Lion Air Group sister carrier Batik Air this month, as part of measures taken to overcome challenges from the coronavirus outbreak. In a 6 March internal memo to employees seen by Cirium, Malindo’s chief executive Mushafiz Bakri says that in ...
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NewsCathay flags ‘substantial loss’ for first half of 2020
The ongoing coronavirus outbreak is taking its toll on the Cathay Pacific group’s financial performance, with the group warning that it expects to incur a “substantial loss” for the first-half of this year. Cathay adds in its full-year financial results that the outbreak, which first originated in China late 2019, ...
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News‘Turbulent’ 2019 squeezes Cathay profit
The Cathay Pacific Group saw operating profit for 2019 shrink, following a worse-than-expected second-half result that was affected by political turmoil in Hong Kong. For the year ended 31 December 2019, the group reported an operating profit of HK$3.4 billion ($437 million), a 4.3% decrease compared to 2018. ...
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NewsChina announces measures to give aviation industry fillip
China has rolled out a raft of measures – from financial support to infrastructure investments – for the country’s aviation industry, which has been hit by the coronavirus outbreak. In total, the Civil Aviation Administration of China (CAAC) announced 16 measures, all of which are aimed at “promoting the stable ...
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NewsVirgin’s Richard Branson urges faith in airlines
Virgin Group founder Richard Branson says that the airline industry has endured past crises but could “come to a grinding halt fairly quickly” amid coronavirus outbreak risks. The founder of numerous companies including air launch to orbit service Virgin Orbit and Virgin Atlantic Airways accepted an award from the Royal ...