Daily Memo: What To Expect In Aerospace M&A In 2021
Credit: Nigel Howarth / Aviation Week
Green shoots keep emerging in commercial aviation in the form of used vaccination needles, but despite those shots in the arm and recent OEM trimming of production rates—i.e., the long-awaited certainty of the other shoe to drop—mergers and acquisitions (M&A) in aerospace production look set for a mixed year at best.
WASHINGTON—U.S. airlines carried approximately 60% fewer passengers in 2020 than in 2019, according to new data from the U.S. Transportation Department’s Bureau of Transportation Statistics (BTS).
Cargo Specialist ASL Takes Freighter Options Earlier Than Anticipated
Credit: ASL Airlines
In a sign of optimism over the future of the cargo market, Ireland-based ASL Aviation Holdings (ASL) confirmed Feb. 16 that it is taking up 10 options for the 737-800 Boeing Converted Freighter (BCF).
Vaccinated Crew Should Bypass Hong Kong’s Quarantine Rule, IATA Says
Credit: Joe Pries
IATA is urging the Hong Kong government to allow exemptions from new crew quarantine rules as quickly as possible, highlighting the damage the requirements will cause to airlines.
Southwest Airlines Lowers Cash Burn Target On Improved Leisure Demand
Credit: Rob Finlayson
Southwest Airlines lowered its cash burn estimate for the 2021 first quarter (Q1) after observing stronger than expected revenue and booking trends in February.
TAP Air Portugal Could Need Further State Support In 2021
Credit: Airbus
Portuguese finance minister João Leão has acknowledged that TAP Air Portugal could need further financial support in 2021, beyond the €500 million ($606.5 million) in state funding already provisioned.
New leisure carrier Vietravel Airlines has begun operating seven domestic routes in Vietnam. The airline, a subsidiary of Vietnamese tour operator Vietravel, was granted an air operator certificate from Vietnam’s civil aviation authority in December 2020. Commercial flights began in late January and the carrier is now serving six destinations across the country.
Three Bidders On Shortlist For South African Airways
Credit: Rob Finlayson
The next chapter for South African Airways (SAA) appears to be drawing closer, with three shortlisted equity partners in contention and a further R5 billion ($345.4 million) government injection to fund employee severance packages.
Traffic At One-Third Of Pre-COVID-19 Levels, Eurocontrol Says
Credit: Rob Finlayson
PARIS—European air traffic reached just a third of 2019 levels in the second week of February, as ongoing travel restrictions and national lockdowns kept a lid on demand, network manager Eurocontrol said in its latest update.
Charity UNICEF has launched an initiative with 16 airlines to ensure consignments of COVID-19 vaccine and other humanitarian supplies reach the areas where they are most needed.
Singapore Commits Another $658M To Boost Aviation Sector Recovery
Credit: Rob Finlayson
SINGAPORE—The government of Singapore will pour another S$870 million ($657.5 million) into its aviation sector, in an effort to help the Singapore air hub edge out competition as the industry claws its way to recovery.
From what to expect in Aerospace M&A in 2021 to reports stating Middle East growth will return, but slowly. Take a look at the daily roundup of air transport news.
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