News from FlightGlobal – Page 518
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NewsSAA restructuring team sifts through unsolicited investor approaches
More than 10 unsolicited approaches expressing interest in South African Airways have been received from potential investors and partners. The South African government’s department of public enterprises states that the approaches concern SAA and its subsidiaries Mango Airlines, SAA Technical, and catering arm Air Chefs. “[We have] been busy assessing ...
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NewsBrussels Airlines gets approval for €290 million bailout
European competition regulators have given the green light for a €290 million ($343 million) state-support measure for Brussels Airlines to help the carrier recover from the coronavirus crisis.
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NewsScoot converts A320 into temporary freighter
Singapore-based low-cost carrier Scoot has begun cargo charter operations using a freight-optimised Airbus A320ceo, tapping on demand as an alternative revenue source. The aircraft, registered 9V-TAZ, underwent a four-day modification programme earlier this month. That involved the removal of all 180 seats, as well as the installation of placards to ...
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NewsChinese carrier Q2 losses expected to narrow amid domestic recovery: HSBC
China’s three largest carriers — Air China, China Eastern Airlines and China Southern Airlines — are expected to see losses narrow in the second quarter helped by strong domestic traffic recovery and a flat Chinese Yuan against the US dollar.
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NewsQantas International chief exits amid consolidation
Qantas Group is trimming and reorganising its executive team in response to the ongoing Covid-19 crisis, with the changes coming into effect on 1 September. The chief executive of Qantas International, Tino La Spina, will leave Qantas Group “in light of what is likely to be the extended grounding of ...
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NewsFiji Airways now ‘focused on survival’ after bumper year in 2019
Fiji Airways had a bumper year in 2019, increasing its revenue, profit and passenger numbers despite high-priced fuel, foreign exchange fluctuations and increased competition from major shareholder Qantas, but 2020 saw the airline enter survival mode after the Covid-19 pandemic struck. Group operating profit before tax for the year ended ...
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NewsUkrainian 737 recorders indicate crew survived initial missile strike
Flight recorders from the Ukraine International Airlines Boeing 737-800 shot down over Tehran captured 19s of information after the first missile strike, and revealed discussions in the cockpit on the state of the stricken aircraft. Both the cockpit-voice and flight-data recorder were cut off after 19s and did not register ...
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NewsAirlines walk tightrope on pilot furloughs
Airlines find themselves facing a critical dilemma as they resize their networks for a new post-coronavirus normal, and must walk a tightrope between furloughing pilots and keeping them on staff to maintain their network flexibility, experts say.
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NewsLufthansa ticket refund bill reaches €2.3 billion
Lufthansa Group has disclosed it paid more than €2.3 billion ($2.7 billion) in ticket refunds to almost 5.4 million customers so far this year.
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NewsAirline Business podcast: uncertainties prevail after bleak Q2 results
Graham and Lewis discuss a bleak financial results season, as airlines count the costs of a ruinous April-June period while grappling with a bumpier-than-expected comeback in the current quarter.
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NewsBritish Airways’ union calls for strike action
British Airways staff represented by the Unite union have “overwhelmingly” called for strike action over the airline’s plans for job losses and changes to employment terms.
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NewsHandler Swissport to deleverage under financial restructuring scheme
Ground-handling firm Swissport is set to undergo an extensive restructuring, having obtained a commitment for €300 million ($354 million) in liquidity from creditors. The transaction would take its overall liquidity to €500 million by adding to the €200 million currently available to the company.. This interim funding would ultimately be ...
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NewsVietnamese airlines press PM for liquidity support
Vietnamese airlines have asked the government to set up a credit package of D25-27 trillion ($1.1-1.3 billion) to help see them through the coronavirus crisis. According the Civil Aviation Authority of Vietnam (CAAV), the Vietnam Association of Aviation Enterprises has made a direct appeal to the prime minister’s office. ...
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NewsLessor NAC swings to $639m loss in ‘extremely challenging’ year
Nordic Aviation Capital (NAC) could have delivered its strongest-ever results in fiscal year (FY) 2019/2020, based on first-half performance, had it not been for the Covid-19 pandemic. “The company was on track to deliver its 24th consecutive year of increased profitability; however, as Covid-19 began to surface in early 2020, ...
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NewsBOC Aviation maintains steady profits amid pandemic
Singapore-based lessor BOC Aviation registered a slight increase in its profits in the first half of this year, though its cash collection rate plummeted to the lowest level in more than a decade. The company posted a profit before income tax of $354 million for the six months ended 30 ...
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NewsFastjet shareholder provisionally agrees financial support
African budget operator Fastjet Group has obtained a commitment from its main shareholder, Solenta Aviation Holdings, to underwrite a capital raise of at least $1.5 million, providing the company with much-needed funding. Fastjet Group has been struggling with dwindling cash resources as it copes with flight restrictions in Zimbabwe and ...
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NewsEurowings passengers can pay to keep middle seat free
Eurowings will offer passengers the option of paying extra to keep the middle seat vacant, throughout the entire cabin, on all flights within Europe, after carrying out a “successful” trial of the measure.
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NewsIATA warns that Argentina may delay September air travel restart
Rumours are swirling that Argentina’s government might push back its plan to reopen the country to air travel on 1 September, throwing uncertainty around carriers’ plans to resume operations to the country.
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NewsPegasus talks to Airbus about changes to A320neo-family deliveries
Turkish budget carrier Pegasus has indicated that it will push back some aircraft deliveries, as it continues negotiations with Airbus regarding the A320neo-family twinjets it has on order.
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NewsAmerican cuts 15 cities from network as government aid expires
American Airlines intends to axe routes to 15 destinations, as it begins trimming its network due to the expiration of government aid and a lack of demand for air travel.