Boeing’s revelation this summer that it is looking into consolidating all 787 production in North Charleston, South Carolina, is just one of many examples of how the COVID-19 pandemic is reshaping the aerospace and defense industry.
Icelandair Group will hold a shareholders’ meeting on Sept. 9 to secure the final go-ahead for an ISK20-23 billion ($143-165 million) capital increase, although the financial impact of COVID-19 has not been as severe as originally anticipated back in May.
While Virgin Atlantic has completed the financial and legal steps required to begin its COVID-19 recovery, the airline is moving forward with plans to cut a further 1,150 jobs.
The chief executive of the top U.S. airline lobby called on federal lawmakers to promptly approve more industry aid, telling reporters the situation facing carriers remains “dire” as the summer leisure travel season draws to a close.
Irish LCC Ryanair has raised €400 million ($473 million) by issuing new shares and is on the lookout for chances to gain market share as rivals retrench or go out of business.
JetSMART Chile plans to expand its operations by 25% this month compared with August, adding new routes as it works to craft an optimal network with the COVID-19 pandemic ongoing.
Airlines, airports and lobby groups have called on the U.S. and UK governments to start trialing COVID-19 testing programs at airports to help kickstart transatlantic traffic.
Eurowings said it continues to face weak demand, especially since Germany announced Sept. 2 it was extending its Spanish travel warning to cover the Canary Islands.
European airlines and airports have agreed on a set of conditions which they contend will allow for the waiver of the 80/20 slot rule to remain in place through the 2020-2021 winter season—part of a united effort to lobby the European Commission (EC) to decide on the extension.
Scandinavian Airlines (SAS) bondholders have now approved the conversions of hybrid notes and bonds into equity, a key step in the airline’s recapitalization that it needs to close to ward off the threat of bankruptcy.
When the COVID-19 pandemic hit, the Corporate Angel Network, which arranges flights for cancer patients to travel to and from treatment, was forced to make changes.
While Singapore has been a leader in reopening its borders to some international travel, most other Asia-Pacific nations are moving much more slowly, Scoot CEO Campbell Wilson said.
The air cargo sector’s volumes and yields continued to close the gap with pre-pandemic performance in August, analysis by air cargo sector specialist CLIVE Data Services showed, after IATA said July data had also showed improvements.
Turkish Airlines and the Turkish civil aviation union Hava-İş agreed to adapt the staff’s collective labor agreement resulting in temporary pay cuts between 30 to 50% for its employees, but will avoid layoffs.
Optimistic of a speedy recovery in the Chinese domestic market, Spring Airlines will continue to take delivery of new aircraft to bolster its marketshare in China’s tier 2 and tier 3 cities whilst maintaining a foothold in major trunk routes.
