News from FlightGlobal – Page 563
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NewsVietJet records 14% decline in 2019 profit
VietJet Air saw its operating profit in 2019 decline 14.3% to D4.98 trillion ($211 million), down from the previous year’s profit figure of D5.8 trillion. Consolidated revenue for the year ended 31 December 2019 declined 2.8% to D52 trillion. Net profit meanwhile fell 20.9% to D4.22 trillion. Cash and cash ...
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NewsSIA’s fund-raising plan is ‘gold standard’: Goldman Sachs
Goldman Sachs deems Singapore Airline’s plans to raise up to S$15 billion ($10 billion) the “gold standard” among coronavirus-related rescue packages for airlines. “We view that as really the gold standard for the packages that have been put in place,” Nicola Dondi, managing director at Goldman Sachs (Asia), said at ...
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NewsEU shaping guidelines to restore air travel: transport commissioner
European transport commissioner Adina Valean has signalled that guidelines will be set out by mid-May regarding an exit strategy to restart cross-border operations including air travel, but stresses that the timing depends on the health situation. While speaking on 22 April, she was reluctant to pre-empt the finalisation of specific ...
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NewsDelta Air Lines reports Q1 loss, cuts daily cash burn by half
Delta Air Lines says it anticipates cutting its daily cash burn by 50% as the coronavirius pandemic drags on into the second quarter of the year and passenger demand continues to be at about 5% of normal.
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NewsUK clears CargoLogicAir to resume freight flights
UK regulators have restored the operating licence of freight operator CargoLogicAir, clearing it to operate contracts providing medical supplies using a pair of Boeing 747 freighters.
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NewsAir Mauritius files for voluntary administration
Struggling Air Mauritius has entered voluntary administration after the board resolved that with coronavirus grounding it would not be able to meet its financial obligations in the foreseeable future.
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NewsSouth African government presses unions for concessions to rebuild SAA
South Africa’s government is pressing unions to avert a collapse of South African Airways and ensure that the business rescue strategy results in the emergence of a more competitive carrier. It has asked unions to submit proposals on restructuring the carrier and, in particular, details on the future of jobs. ...
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NewsAirbus develops anti-spill cover to protect A350 centre pedestal
Airbus has developed a removable cover for A350 integrated control panels, designed to protect vital systems from inadvertent liquid spills in the cockpit, after two incidents which preceded uncommanded engine shutdown. The cover – which protects engine master levers, thumbwheels and rotary knobs – needs to be removed during critical ...
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NewsBiocide overdose blunder suspected in A321 dual-engine incident
UK investigators probing a serious dual engine problem on a departing Airbus A321 have discovered its fuel system had previously been overdosed with biocide, after a maintenance engineer misunderstood a measurement term. The engineer was confused by the term ‘ppm’ – meaning ‘parts per million’ – while conducting a biocidal ...
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NewsAustrian to halve 767 fleet and remove all A319s
Lufthansa Group carrier Austrian Airlines is to halve its Boeing 767 fleet and withdraw all seven of its Airbus A319s as part of a strategy to adjust to reduced demand in the wake of the coronavirus crisis. Austrian had already been planning to remove 18 Bombardier Q400 turboprops by 2021, ...
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NewsAsiana Airlines gets new loans from state banks: reports
South Korea’s Asiana Airlines has received additional loans from two state banks as it grapples with the coronavirus crisis, according to media reports. The Korea Development Bank (KDB) and the Export-Import Bank of Korea will inject W1.7 trillion ($1.4 billion) into South Korea’s second-largest carrier, Yonhap and Reuters reported on ...
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NewsAir Canada to halt all US flights on 27 April
Air Canada will suspend all USA-Canada flights on 27 April, slashing its 11 remaining US routes due to an extension of travel restrictions between the nations.
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NewsAirlines await details of Trump plan to halt US immigration
US president Donald Trump has announced plans to temporarily halt all immigration to the USA, as the country grapples with the coronavirus epidemic.
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NewsAviointeriors promises new post-coronavirus seat design ‘in under six months’
Italian firm Aviointeriors believes it could begin delivering within as little as six months a new seat designed to encourage passengers to feel safe flying again once coronavirus restrictions are lifted.
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NewsSocial-distancing on flights would end cheap travel: IATA
The imposition of social-distancing measures on commerical flights would mean an end to “cheap travel”, according to IATA director general Alexandre de Juniac.
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NewsEtihad open to ‘constructive’ talks on Virgin Australia restart
Virgin Australia’s biggest shareholder Etihad Airways says dealing with the coronavirus impact on its own business meant it was unable to provide further funding to the carrier, but that it remains open to “constructive discussions” over its potential restart.
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NewsOver 10 parties show interest in Virgin Australia: administrator
The administrators for Virgin Australia note there is healthy interest in recapitalising the airline and intend to bring it out of administration as quickly as possible. “There are in excess of 10 parties known to us who have got a keen interest in being part of the restructure of Virgin,” ...
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NewsUnions urge government to offer Virgin Australia support
Unions are calling on the government to help support Virgin Australia after the airline entered voluntary administration today. The country’s second-largest carrier has appointed Deloitte to help it recapitalise and make it through the coronavirus crisis after talks with various parties, including the government, to secure financial support failed to ...
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Wizz Air qualifies for UK coronavirus fund support
Central European budget carrier Wizz Air has obtained confirmation that it can take advantage of the UK government’s support scheme for companies affected by the coronavirus crisis. Wizz Air says it has been assured it is an “eligible issuer” under the Covid Corporate Financing Facility. The airline has not specified ...
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NewsEl Al in talks for bank loan backed by government
El Al has entered discussions with an Israeli bank for a loan which would be partly backed by a state guarantee, in an effort to prop up its financial position. The Israeli flag-carrier had previously sought an assistance package from the ministry of finance but was turned down. While El ...