Finance and economy
3,201 news found
AirlinesIATA: looming cash crisis threatens airlines
Sector wide action needed -ATTACHMENT
The International Air Transport Association (IATA) warned that the airline industry will burn through $77 billion in cash during the second half of 2020 (almost $13 billion/month or $300,000 per minute),... more
AirlinesPlanes. Spohr (Lufthansa CEO): "We still burn too much cash"
The situation of Deutsche carrier remains delicate
An impressive pace: the “speed” with which the Lufthansa carrier is literally burning millions upon millions cannot be defined in another way (read also the article published by AVIONEWS). Even the man... more
AirlinesPhilippine Airlines ready to cut 35% of the workforce
Asian country is among the most affected by coronavirus
It's an experience: certainly Philippine Airlines cannot use its motto to describe the latest employment choices (read also the article published by AVIONEWS). Philippines flag carrier made it known through... more
AirlinesKelly, Southwest Airlines CEO, could forgo salary
Unpaid wage would last through 2021
An unpredictable first time: Southwest Airlines decided to approach the positions of unions and agree on a series of cost cuts, a fact that has never happened in the history of the company that lasted... more
AirlinesBoc Aviation: operation data for the 3Q2020
Transactions summary
BOC Aviation Limited announces today its operational transactions for the third quarter ended 30 September 2020.Transactions summary A total fleet of 555 airplanes owned, managed and on orderAn average... more
AirportsMexico announces new airport to support economy
The chosen location is that of Tulum
Air transport can support the economic recovery of a country: it has often been repeated in these difficult moments in which it is necessary to cope with the health emergency of covid-19 and an important... more
AirlinesPossible temporary nationalization for Norwegian Air Shuttle
It wouldn't be the first time for a carrier
Nationalization, temporary but still nationalization. For the carrier Norwegian Air Shuttle we should focus on this solution, as leaked in the last hours, a temporary assumption of control that should... more
AirlinesPlanes. Sanchez-Prieto (Iberia): "Pandemic gives us no respite"
Manager recognized the carrier's difficulties
An all too sincere speech: Javier Sanchez-Prieto, CEO of the Spanish carrier Iberia, acknowledged the difficult situation of the same company in this complicated historical period. The airline's CEO sent... more
AirlinesIs it close the birth of a Central European Aviation Group?
Rumors become more insistent
Poland, the Czech Republic, Hungary and Slovakia. These are the nations on which attention is being focused as regards the birth of a new civil aviation group. They are not countries mentioned at random:... more
AirlinesJet Airways, final stages for insolvency process
A legal question had to be resolved
Exactly a year and a half: a long time passed since all the flight operations of Indian airline Jet Airways ceased definitively (read also the article published by AVIONEWS). In the last few hours, a legal... more
AirlinesTurkish Airlines, debt of 14 billion dollars by December
Carrier has to deal with the latest losses
A heavy debt to be managed by the end of 2020: carrier Turkish Airlines certainly cannot claim to be in good health, given that 14 billion dollars to be faced over the next three months are worrying and... more
AirlinesMore Italy and less Ireland for Ryanair flights
Low-cost carrier is at odds with Dublin
Less Ireland and more Italy: this seems to be the attitude of the low-cost airline Ryanair, which intends to expand its network of connections in our country with 17 weekly flights and five routes departing... more
AirlinesPlanes. South African Airways suspends all operations
Funds for restructuring are still lacking
A paradoxical situation to say the least: South African Airways, flag company of African Nation, has been in economic difficulties for some time and the proposals for the rescue have not had any follow-up... more
AirlinesSingapore Airlines cancels flights "to nowhere"
Carrier was accused of polluting too much
In Australia they had a great success, in Singapore instead the failure was inevitable: we are talking about the so-called flights "to nowhere". Qantas, Australian national airline, achieved great results... more
AirlinesAviation crisis, 5 billion pounds for Rolls-Royce
Recapitalization plan for industry
Bond and stock market represent one of the last resources that Rolls-Royce wants to draw on to tackle the crisis in the aviation sector linked to the Covid-19 pandemic (read also the article published... more
AirlinesAmerican Airlines, 19,000 job cuts
Carrier announced it in the last few hours
"The new American is arriving": the motto of carrier American Airlines is clear, too bad that something else has arrived in the last few hours. As announced yesterday, on Wednesday September 30, 2020 by... more
AirportsChina, new expansion for Guangzhou-Baiyun airport
It will encourage the development of Greater Bay Area
An important airport expansion: Chinese international airport of Guangzhou-Baiyun (Baiyunport) will become even bigger in the future thanks to the expansion project that the media of the ex-celestial empire... more
AirlinesBritish airlines worried about "holiday tax" increase
Single passenger fares are about to change
A fare increase that should not be underestimated: UK government is serious about increasing duties provided for each passenger who traveled by plane, a move that took carriers off guard in the face of... more
AirlinesThailand ready to welcome foreign passengers
More air links will be authorized from October
Thailand reopens its borders. Asian Nation made it known through its covid-19 management center that it will soon be possible to authorize the access of a larger number of foreign citizens to its territory.... more
AirlinesUnited Airlines, pilots avoid layoffs
Flight attendants and mechanics are still at risk
The agreement was reached and for the moment layoffs have been avoided. In the last few hours, carrier United Airlines found the decisive agreement with trade unions and pilots to prevent loss of jobs,... more
AirlinesPlanes, Norwegian Air Shuttle is closer to nationalization?
Scandinavian government is in talks with managers
One of the many ways to go, perhaps the safest at the moment: Oslo government is seriously considering nationalizing Norwegian Air Shuttle, as reported in recent hours by the Scandinavian media (read also... more
DefenseSwitzerland, voters approve increase in military aircraft
Yes prevailed for just under 10 thousand ballots
Yesterday, on Sunday 27 September 2020, Swiss citizens expressed their opinion on the increase in military aircraft (read also the article published by AVIONEWS). Swiss voters were asked to answer the... more
AirlinesAustralia increases economic aid for air carriers
Plans for all national routes were renewed
“Advance, beautiful Australia”: hymn of the Oceanian nation speaks clearly and the Canberra government could not fail to take adequate measures to advance the air transport sector. It is no coincidence tha... more
AirlinesIreland. Appointment of new IAA leader doesn't convince
Diarmuid O'Conghaile will shortly manage the Irish Aviation Authority
A "very fresh" appointment that is immediately debated: to lead IAA (Irish Aviation Authority), Irish authority that regulates the country's aviation, Diarmuid O'Conghaile, current CEO of airline Malta... more
AirlinesAir France/trade union agreement for 3640 voluntary exits
Carrier proposed this alternative to dismissal
An important reduction in ground crew: transalpine carrier Air France recently concluded an agreement with trade unions regarding the so-called "employment protection plan". This agreement was reached... more
AirlinesPlanes. El Al rejects offer to buy shares of Eli Rozenberg
In this financial operation he works on behalf of his father, who is not an Israeli citizen
His father is not an Israeli citizen and the acquisition of shares in the air carrier is not possible: this is the reason with which El Al decided to reject the offer for purchasing a substantial share... more
AirportsUSA allocates 335 billion dollars for 80 airports
This plan is aimed to improve airport safety
Yesterday, on Thursday 24 September 2020, secretary of American Department of Transport, Elaine Lan Chao, formalized the allocation of 335 million dollars in favor of country's airports. These are grants... more
DefensePeru. New military transport planes could be Russian
They could replace Antonov An-32
It could be Russia to make military transport aircraft available to Peru that will in all probability replace aircraft currently supplied. The Fuerza Aérea del Perú, the South American country's air f... more
AirportsIndia, Patna airport will handle 8 million passengers every year
Local aviation minister spoke about it on Twitter
Some time ago works began to expand the terminal at Jay Prakash Narayan airport in Patna, India. Asian Nation intends to make the airport's annual capacity even more important, reaching up to 8 million... more
AirlinesUK, Ryanair: "Passenger tax must be eliminated"
Accusations to London concern also Covid-19
In recent weeks, CEO of low-cost airline Ryanair, Michael O'Leary, was the protagonist of eloquent statements on the current transport situation. In the last few hours he gave an interview to "Sky News",... more
AirlinesAir Europa rescue could be among the largest in Spain
It would be a record for an Iberian carrier
The biggest ever, at least for what concerns Spain and a particular sector. Rescue of carrier Air Europa has been talked about for some time now (read also the article published by AVIONEWS) and the Spanish... more
AirportsAutogrill: results for the eight months ended 31 August 2020
Airport performance still depressed -ATTACHMENT
The Board of Directors of Autogrill SpA today reviewed and approved the consolidated revenue performance for the eight months ended 31 August 2020.The highlights are: Revenue: €1,414m (€3,190m for the... more
AirlinesSouthwest Airlines will be confident even without State aid
CEO Kelly does not want to reduce transport capacity
"Nothing to hide": the slogan of low-cost carrier Southwest Airlines is clear and even its CEO has decided to reveal his perspectives on the current moment of the company. Gary Kelly was interviewed in... more
DefenseDid Pentagon spend anti-covid funds on aircraft and weapons purchases?
According to an in-depth investigation, it is worth one billion dollars
Investigations are trademark of "Washington Post". The latest of those published by American newspaper may not have the scope of the reportage capable of unleashing the “Watergate”, but it is undoubtedly int... more
AirlinesAir France-KLM Group, joint strategy between France and the Netherlands
State aid guarantees a short survival
France and the Netherlands have a common thought at the moment with regard to air transport, the rescue of Air France-KLM Group. As reported by the managing director, Benjamin Smith, during an interview... more
AirlinesAeromexico will be able to reduce aircraft rental costs
American court authorized new agreement on planes and engines
Today, on Wednesday 23 September 2020, American bankruptcy court in New York gave the green light to the plan of carrier Aeromexico to reduce the costs of renting aircraft and engines. Mexican flag airline... more
AirlinesAir carriers. Kenya Airways needs 500 million dollars aid
The only way forward seems to be that of nationalization
"Explore the world": this sentence can be read on the website of Kenya Airways, flag carrier of African country, although before discovering every corner of the planet, the airline should put its accounts... more
Civil aviationAir transport crisis and risks for refineries
European plants are most in difficulty
Crisis triggered by coronavirus is profound in any economic sector, but air transport is more concerning. This situation can also have important implications at the oil level. As analyzed today, Tuesday... more
AirportsDifficulties of Berlin-Brandenburg airport one month before opening
Financial losses of German hub are worrying
Nine years of delay, a month to wait and an unknown number of economic losses. The situation of the Berlin-Brandenburg "Willy Brandt" airport is nothing short of paradoxical: its opening, after years of... more
AirlinesNew law from US senators to save carriers
There are a few days left for federal government aid to expire
Republican senators decided to present a bill to support American air transport yesterday, on Monday September 21, 2020. This text provides 28 billion dollars for the relaunch of the sector, money to be... more
AirlinesPlanes. Lufthansa ready to lay off 20% of executives
German carrier will further reduce the fleet
Nobody excluded: dismissals announced by carrier Lufthansa do not look anyone in the face and new measures to deal with crisis triggered by covid-19 testify that there is not a single employee who can... more
AirlinesUS carriers ask for 25 billion dollars
All managers confronted the White House
Yesterday's meeting, on Thursday September 17, 2020, at the White House between Chief of Cabinet Mark Meadows and representatives of the main American carriers ended with a predictable economic request.... more
AirlinesRyanair, one third of shareholders said no to O'Leary bonus
CEO of low-cost carrier collected 458,000 euros
This bonus doesn't have to be done. Like in Alessandro Manzoni romance "I promessi sposi", this phrase fits perfectly to describe what happened yesterday, Thursday 17 September 2020, during the vote on... more
AirlinesIceland, Play against state funds guaranteed to Icelandair
These two carriers are now at loggerheads
"Everything works out": the motto used by Iceland to get out of the serious economic crisis of 2008 could also be used for an issue that is currently affecting the transport sector. Air carrier Play, which... more
AirlinesPlanes. No funding yet for South African Airways
There will be a crucial meeting of creditors tomorrow
A long-awaited meeting: the fate of carrier South African Airways could depend on the meeting organized for tomorrow, on Friday September 18, 2020. This is the meeting called urgently and which will involve... more
AirlinesJust two solutions for Air India: privatization or closure
Government also admitted the dangerous crossroads
Hardeep Singh, Indian civil aviation minister, was very clear in making yet another reference to the future of flag carrier Air India: this airline must be privatized, otherwise the only alternative will... more
Finance and economyUsa (2), Trump: "Willing to sell F-35 to Uae"
President talked about military aircraft and weapons
There are about two months to go until the US presidential elections and it is almost inevitable that the current "tenant" of the White House, Donald Trump, will be paid more attention than ever. During... more
AirlinesCanadian Government needs to consider safe options and reopen borders
Economic impact on the North American Country, according to IATA
The International Air Transport Association (IATA) urges the Canadian government to support the COVID-19 testing initiatives of Air Canada and WestJet as a means to safely reopen Canada to international... more
AirlinesPlanes and carriers, easyJet accuses EU governments on restrictions
CEO Lundgren lashed out against travel policies
Thrust and lunge: Johan Lundgren is not a fencer, but in last few hours he launched an attack worthy of this sport against European Union. CEO of low-cost airline easyJet took part in an on-line event... more
AirlinesDelta Airlines will use loyalty program for new funds
United and American also did the same
A guarantee that is used more and more frequently by carriers. Loyalty program will be used by Delta Airlines to support a $ 6.5 billion loan, a capital raising that became necessary due to the increasingly... more