Commercial aftermarket revenues are on track to fall 50% in the second quarter (Q2), in line with an industry consensus that has global airline activity slowly increasing after hitting bottom in April, two new surveys show.
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 African Airlines Association (AFRAA) and the leading aviation service provider, ACC Aviation Group, have announced a strategic partnership for the provision of market-leading services that will support the development of Africa’s aviation industry.
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.
