FXAIR, described as a provider of “premium on-demand charter,” was formally launched in late July, several months earlier than planned, as its owner, Directional Aviation, restructures its global businesses to better respond to post-COVID-19 opportunities.
Lufthansa has blamed the “almost complete grounding of [the] global commercial aircraft fleet,” for losses at its maintenance arm in the second quarter.
A coalition of industry groups is seeking changes to the eligibility criteria of a treasury loan program created by the Coronavirus Aid, Relief and Economic Security (CARES) Act to help general aviation and regional airlines, which face “significant challenges” accessing the program because of liquidity issues, it says.
Russia’s largest airline group Aeroflot is to soon receive a massive cash injection from its major shareholder, the Russian government, through a rights issue.
The COVID-19 pandemic has led to a shift in the public’s perception of business jets away from a luxury product and to a safe and efficient alternative to commercial airlines, according to Asian charter operator Sino Jet.
Lufthansa Group said the collapse in demand for air travel following the outbreak of COVID-19 leaves it no choice but to start making redundancies in Germany and scrap 100 of its aircraft.
Vietnam Airlines will reportedly halve the pay of its pilots and cabin crew after the flag-carrier saw a 68% year-on-year (YOY) fall in revenue for the second quarter.
Boeing does not expect to issue more debt to raise funds at this time, the company’s chief financial officer said Aug. 5, but management will “keep all our options open” through the "dynamic" COVID-19 and 737 MAX crises .
