Responding to the brutal downturn caused by the COVID-19 pandemic, the French government on June 9 announced an €8-billion ($9 billion) bailout plan that not only aims to save employees from layoffs and aerospace companies from bankruptcy—it takes the opportunity to force an overdue consolidation and modernization of the supply chain.
Southwest Airlines completed a $1.8 billion debt offering on June 8, part of an effort to buttress its balance sheet during the extended industry downturn caused by the COVID-19 pandemic.
Ryanair subsidiary Laudamotion will reopen its Vienna operations July 1 after over 90% of its pilots and some 66% of its cabin crew working out of the base voted to accept its new collective labor agreement (CLA).
Austrian Airlines has reached a deal with the Austrian Government and parent Lufthansa for a €600 million ($677 million) coronavirus rescue package that comes with strict ecological requirements attached.
The Hong Kong government will gain a minority stake in Cathay Pacific thanks to a massive bailout package, while the airline has committed to further wage savings and a sweeping overhaul of the group’s business strategy.
It’s still too early to project with any certainty how the global airline recovery will play out. But as airlines continue to refine their 2020 schedules, hints are starting to emerge.
Three embattled African carriers—South African Airways (SAA), South Africa’s Comair and pan-African LCC fastjet—have said they need more time to finalize recovery plans.
The British Airline Pilots Association (BALPA) has accused British Airways (BA) of planning to fire all of its flightdeck crews and rehire a smaller number at lower salaries.
London City Airport will reopen for passenger services toward the end of June. Like most airports, it will initially face a reduced level of service, but this will be compounded without the presence of two airlines that played a significant role prior to the coronavirus pandemic.
After more than two months without a commercial flight, Lyon Saint Exupery airport has reopened to passenger traffic, accompanying the gradual resumption of air travel activity in France.
Delta Air Lines will suspend service to 11 domestic non-hub cities, following a decision by the U.S. Transportation Department (DOT) to provide greater flexibility from CARES Act minimum service requirements.
Regional aircraft lessor Nordic Aviation Capital (NAC) has applied to the Dublin High Court for debt relief and secured agreement from its shareholders for a $60 million equity injection as it tries to weather the COVID-19 crisis.
Ground handler Swissport Belgium is filing for bankruptcy after parent Swissport International refused to inject further funds into the struggling unit.
The number of daily flights in Europe rose above 6,000 on June 2 and stayed at that level for four days, showing a post-lockdown recovery in air traffic getting underway, Eurocontrol said.
Ryanair, British Airways and easyJet have written to the UK government to condemn its decision to introduce a 14-day quarantine period for arrivals to the UK as part of its response to the COVID-19 crisis.
Philippine Airlines has slumped to a deep net loss in the first quarter ending March 31 thanks to the COVID-19 crisis, but some positive signs are emerging with the planned resumption of many domestic and international flights this month.
Malaysian Prime Minister Muhyiddin Yassin has appointed the former CEO of the country’s petroleum company, Petronas, as chairman of Malaysia Airlines Berhad (MAB).
Honeywell is launching safety packs designed for airline passengers and crew, tapping into the company’s manufacturing capabilities in the safety and personal protection equipment segment amid the COVID-19 pandemic.
Singapore Airlines (SIA) has successfully raised S$10 billion ($7.2 billion) in funding from the issuance of rights as well as securing new long-term and short-term loans from various sources.
