Six unions representing a large cross-section of the U.S. airline industry have urged federal lawmakers to extend CARES Act payroll support until March 31, 2021, warning mass layoffs will be “inevitable” unless additional funds are forthcoming.
SALZBURG, Austria—Ryanair Group subsidiary Laudamotion has lost €300 million ($339 million) in the two years since its March 2018 launch, the group’s CEO Michael O’Leary said.
Mexico’s government has not yet heeded calls from the country’s airlines that they need financial support to weather the COVID-19 crisis, and its only full-service carrier Aeromexico has had to formally state it will not seek Chapter 11 bankruptcy protection.
The selection of Bain Capital as the successful bidder for Virgin Australia means the airline will survive in a smaller form and will broadly follow the strategic blueprint developed by the current management team.
Dutch carrier KLM has secured a total of €3.4 billion ($3.8 billion) in government support through a state-guaranteed loan and a direct loan to help it withstand the COVID-19 crisis, adding to the €7 billion France has granted to sister airline Air France.
Canadian airline WestJet will lay off 3,333 employees permanently across several departments, part of a series of organizational changes intended to streamline operations amid the COVID-19 pandemic.
The union representing American Airlines pilots wants the U.S. government to subsidize load-factor caps across the industry, an approach that would help stabilize airline finances while ensuring social distance in cabins.
Asia-Pacific LCCs face major hurdles as they struggle to survive the network shutdowns caused by the COVID-19 crisis, but their business models also give them some factors in their favor as they plan for recovery.
FRANKFURT—An extraordinary assembly of shareholders and the European Commission (EC) has approved a €9 billion ($10.1 billion) state bailout for Lufthansa, clearing the way for the airline to begin its long route to recovery and avoid an imminent bankruptcy filing.
UK-based easyJet is launching a share placement worth up to £450 million ($558 million), in the budget carrier’s latest move to shore up its finances since the COVID-19 crisis took hold.
Qantas Airways has unveiled a three-year strategy to prepare for a slow airline industry recovery, including cutting 6,000 workers, storing or retiring larger widebody airliners, and raising A$1.9 billion ($1.3 billion) in new equity to fund its plans.
Aviation industry groups have appealed to the European Commission (EC) to extend the slot-waiver policy into the northern winter season. The groups say such an extension is essential for many airlines to survive.
In a rare example of an airline announcing growth during the COVID-19 pandemic, South Korean regional startup Hi Air has bought two ATR 72-500s from the manufacturer’s asset-management portfolio.
American ULCCs expanded aggressively in the years following the last financial crisis, capitalizing on the industry’s strict capacity discipline and slow pace of economic recovery.
Dubai-based Emirates is to reintroduce the Airbus A380 to its schedules but on June 24 halted its services to Pakistan, following the discovery of a large number of COVID-19-infected passengers had traveled on one of its flights.
The Civil Aviation Authority of Thailand (CAAT) will be waiving all parking fees at its airports and extending the 50% discount on takeoff and landing fees to all airlines flying into the kingdom.
