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 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.
The British Airline Pilots Association (BALPA) has accused British Airways (BA) of planning to fire all of its flightdeck crews and rehire a smaller number at lower salaries.
Delta Air Lines will suspend service to 11 domestic non-hub cities, following a decision by the U.S. Transportation Department (DOT) to provide greater flexibility from CARES Act minimum service requirements.
Regional aircraft lessor Nordic Aviation Capital (NAC) has applied to the Dublin High Court for debt relief and secured agreement from its shareholders for a $60 million equity injection as it tries to weather the COVID-19 crisis.
The number of daily flights in Europe rose above 6,000 on June 2 and stayed at that level for four days, showing a post-lockdown recovery in air traffic getting underway, Eurocontrol said.
Ryanair, British Airways and easyJet have written to the UK government to condemn its decision to introduce a 14-day quarantine period for arrivals to the UK as part of its response to the COVID-19 crisis.
Philippine Airlines has slumped to a deep net loss in the first quarter ending March 31 thanks to the COVID-19 crisis, but some positive signs are emerging with the planned resumption of many domestic and international flights this month.
Malaysian Prime Minister Muhyiddin Yassin has appointed the former CEO of the country’s petroleum company, Petronas, as chairman of Malaysia Airlines Berhad (MAB).
Singapore Airlines (SIA) has successfully raised S$10 billion ($7.2 billion) in funding from the issuance of rights as well as securing new long-term and short-term loans from various sources.
United Airlines became the latest U.S. carrier to substantially ramp-up its domestic capacity in July, reflecting growing optimism about a summertime rebound in leisure travel demand.
International Airlines Group (IAG) is considering a legal challenge to UK government plans to impose a 14-day quarantine on international arrivals as part of efforts to fight COVID-19, CEO Willie Walsh has said.
Most airlines canceled nearly all of their international flights following the outbreak of the coronavirus and have lost an enormous amount of revenue over the last few months.
Southeast Asia’s largest LCC AirAsia Group is reportedly looking to sell 10% of its equity to South Korea’s SK Group to raise funds as the ongoing COVID-19 crisis impacts cashflow.
