Reeling in March from the suddenness and depth of the COVID-19 crisis, the air transport industry at least cautiously believed that the second half of 2020 would see the beginnings of a turnaround.
Business aviation activity moved toward normal in late June following a bumpy period caused by the coronavirus pandemic, with small jet and turboprop utilization in June back to pre-COVID-19 levels, according to data from Aviation Week Network’s Intelligence and Data Services.
NASA’s current tally for the economic toll to its programs from the ongoing coronavirus pandemic is about $1.5 billion, Administrator Jim Bridenstine said on July 29.
Among the few upsides of the COVID-19 pandemic has been the increased interest in business aviation from people who have not previously flown privately. But this emerging new market has not gone unnoticed by criminals eager to exploit it.
Facing another heavy quarterly loss of $2.4 billion, the COVID-19-triggered market downturn, and continued uncertainty over the timing of the return-to-service of the 737 MAX, Boeing is making further cutbacks to its commercial aircraft production rates, studying additional layoffs and delaying deliveries of the 777X until 2022
Business aviation is poised to enjoy the best of times post-COVID-19, as the sector welcomes unprecedented numbers of new customers seeking the safety and convenience that private air travel offers, says Kenny Dichter, founder and CEO of Wheels Up.
Wizz Air CEO József Váradi is looking to accelerate aircraft deliveries and is considering new orders, viewing the post-COVID downturn as a unique opportunity to buck the market.
Boeing’s noncommercial businesses remain its lone bright spot amid a global airline industry crisis that is forcing the company to shrink, despite a second-quarter performance that saw minuscule year-over-year revenue growth and lower operating margin in Boeing’s Defense, Space, and Security unit.
A majority of lawmakers in the U.S. House signed a letter urging leaders from both chambers of Congress to extend the Payroll Support Program (PSP) through March 2021, arguing that failure to do so will lead to hundreds of thousands of job losses across the airline industry this fall.
Cathay Pacific has confirmed it will transfer a third of its passenger aircraft to storage locations outside Hong Kong in line with “prudent operational and asset management considerations.”
All Nippon Airways’ (ANA) significant cost-cutting efforts have been dwarfed by the massive revenue loss caused by the COVID-19 crisis, resulting in heavy net losses for the June quarter.
Alitalia said it would increase international flights as it looks to increase traffic following the COVID-19 shutdown, with its medium- and long-haul capacity set to grow by 7% in September and 29% in October compared to August levels.
The rebound in domestic travel in Japan has been one of the most impressive in the Asia-Pacific region, and the government is taking steps to try and keep the momentum going.
