Finance and economy
3,202 news found
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
AerospaceAvio: first half 2020 results
Vega returned to flight - ATTACHMENT
The Board of Directors of Avio SpA, aerospace company listed on the STAR segment of the Italian Stock Exchange, reviewed and approved yesterday the HY 2020 results.HighlightsMaintained continuity of operations... more
AirlinesAir France, Paris: "We will ensure carrier survival"
French Minister of Economy spoke
“We will make whatever is necessary”: Bruno Le Maire, French Minister of Economy, assured in recent hours that everything possible will be done to ensure survival of Air France. Owner of the transalpine dic... more
AirlinesAir Europa, wages couldn't be paid on September 30
The carrier is awaiting substantial economic aid
A new alarm, yet another. As if the current complicated situation of the Spanish airline Air Europa wasn't enough, another problem is adding. In recent days, local media spread the news that there could... more
AirlinesLima Airport signs financing for airside development
Four international banks are providing the loan
Lima Airport Partners (LAP), part of the Fraport Group since 2001, has signed a USD 450 million financing agreement for its airside development program at "Jorge Chávez International Airport" in Lima,... more
AirlinesAirplanes and carriers. Ryanair will leave Düsseldorf base
This decision will take effect in October
A letter sent to employees in the late afternoon of Thursday September 10, 2020, announced the intention of low-cost airline Ryanair to abandon its German base in Düsseldorf: the future is not optimistic... more
AirlinesLufthansa's uncertainties between layoffs and retired planes
Future fleet could be reduced significantly
Fewer planes mean a downsized fleet, and a downsized fleet can only translate into a new round of layoffs. Lufthansa is seriously considering retiring A-380s and most of the smaller A-340s, just to mention... more
Civil aviationRussian industrial company chooses Molfetta for its helicopter plant
Mayor of the Apulian city spoke about it in a video
Friday is the day traditionally chosen by Tommaso Minervini, mayor of Molfetta (province of Bari, Italy), to announce latest news regarding this Apulian city via a video. Just in these hours, he announced... more
AirlinesPlanes and carriers, 3,000 United Airlines pilots will not be fired
The decisive agreement with unions in last hours
In last few hours there would have been a decisive agreement between unions and the carrier United Airlines to avoid the dismissal of nearly three thousand pilots. This agreement had to be found as soon... more
Civil aviationElectric air taxi market between doubts and hopes
These aircraft face a number of obstacles
A lot of turbulences, but not that of the skies: Chinese company EHang, specialized in manufacture of autonomous aircraft, is seriously considering starting a commercial service of electric air taxis in... more
AirportsArgentina set to restart air routes in October
Buenos Aires ban for Covid is one of the most rigid in the world
Now everything seems ready for Argentina to reopen international air routes. Just today, on Tuesday September 8, 2020, a source close to the local ministry of transport indicated next October as the right... more
AirlinesLufthansa could burn all State aid in one year
German press analyzed air carrier's accounts
Imagining a big airline like Lufthansa without even a penny in cash is almost impossible, but German press speculated the scenario. Air carrier would be ready for new staff cuts and just today, on Tuesday... more
AirlinesRyanair warns Spain: "All airlines must be helped"
Low-cost carrier does not like Iberian bailouts
After Portugal, also Spain. Low-cost airline Ryanair made it clear in recent days that it does not like the state aid guaranteed to company Tap Air Portugal (read also the article published by AVIONEWS)... more
AirlinesPlanes. Emirates will bring salaries back to 100% in October
Airline received several billion dollars in aid
Return to normality: employees of carrier Emirates Airlines have been reassured by latest statements by a spokesman for the Asian company, according to which salaries will return to 100% during next month... more
AirlinesPlanes and carriers, 500 million to save Air Europa
Spanish government is evaluating financial aid
Half a billion is enough, at least for the moment. Air Europa could be saved by Spanish government with a loan of 500 million euros, a figure that was made public this morning, on Monday 7 September 2020,... more
AirlinesNew Iberia's president: "Sacrifices will be needed"
Javier Sanchez-Prieto is however confident about recovery
"And tomorrow, can you imagine?" Slogan of carrier Iberia is apt as never before to describe the statements of the future president and CEO of the Spanish national airline. Javier Sanchez-Prieto answered... more
AirlinesAlitalia (2). State Aid: EC approves Italian support
To compensate carrier for damages due to outbreak
The European Commission (EC) has found Italian €199.45 million support in favour of Alitalia to be in line with EU State aid rules. The measure aims at compensating the airline for the damages suffered d... more
AirlinesAlitalia, Brussels approves € 200 million State aid
It's the economic support to compensate coronavirus' damages
Dialogue with Brussels is not simple, but in the last few hours an important opening arrived. Alitalia must convince the European Union with its new industrial plan, in the meantime, however, Margrethe... more
Civil aviationAtlantia: establishment of new company
To acquire assets resulting from spin-off of Autostrade per l'Italia
Following the decisions taken at the Board meeting of 4 August, yesterday’s meeting of Atlantia’s Board of Directors has decided to proceed with the establishment of a company to acquire the assets res... more
AirlinesVirgin Atlantic ready to lay off another thousand employees
Carrier's rescue plan has just been approved
Unfortunately, the bailout did not overshadow the layoffs: airline Virgin Atlantic has just received the green light from the High Court of London regarding the 1.2 billion pounds guaranteed last week... more
AirlinesEthiopian Airlines interested in saving South African Airways
African company has been in bankrupt for months
South African Airways is experiencing hectic hours and IT is looking for a business partner who can guarantee its operational future. South African carrier filed for bankruptcy several months ago, but... more
AirlinesUnited Airlines' never-ending crisis: more than 16,000 layoffs
Carrier informed the staff by email
Over 16 thousand fewer jobs: this is the employment scenario that is taking shape for the American carrier United Airlines, struggling with the crisis triggered by the coronavirus and intending to lay... more
AerospaceCovid-19. e-Geos will develop a solution to monitor the economic recovery
The company has won a contract with the European Space Agency
The big data generated by satellite images, information on road traffic, pollution and telephone traffic will be analysed more
AirlinesPlanes. Will the old national airline of Ecuador reborn?
Carrier's name should be Ecuatoriana Airlines
Empresa Ecuatoriana de Aviación, better known as Ecuatoriana, was Ecuador's national airline. Founded in 1957 and active until 2006, it could have as its new commercial slogan the title of a Stephen King... more
AirlinesPlanes and carriers, David Sapir could rescue El Al
Russian-Israeli businessman made his offer
David Sapir. This is the name of the possible "savior" of carrier El Al Israel Airlines: it is a Russian-Israeli businessman who came out in the last few hours with an offer of 51 million dollars for the... more
AirlinesAirline catering crisis, the British Airways case
Layoffs linked to Covid also concern this sector
More than two thousand employees who have now been reduced to just 300: not even the air transport catering situation is rosy and obviously Covid-19 has heavily influenced this downsizing. The most worrying... more
AirlinesAirports, Aer Lingus ready to leave Ireland
Local media talk insistently about the disengagement from Shannon's current base
“Irish sky is an ocean of clouds and light”: not even this poetic phrase by Italian singer Fiorella Mannoia could lead to a rethinking of the airline Aer Lingus on the choice of disengagement from the... more
AirlinesPlanes. Dubai, € 1.6 billion to support Emirates
This liquidity injection was learned from a bond prospectus
Emirates, flagship airline of the Arab Emirate of Dubai, needed a breath of fresh air and certainly not for the typical climate of its reference country. In last few hours, local government decided to... more
AirlinesAir India, government aims at privatization by the end of 2020
Asian airline is considered a cause for concern
Hope is the last to die and this is also what Hardeep Singh Puri, Indian Civil Aviation Minister thinks. Asian country is facing, among various urgencies, that of Air India, national carrier at the center... more
AirlinesAircraft and carriers, Avianca saved thanks to maxi-loan
Colombian government intervened in the last few hours
Bailout in extremis. Despite some perplexity and hesitation, Colombian Government decided to save the national airline Avianca with a loan of 370 million dollars. The petition presented by the carrier... more
AirlinesUnited Airlines will lay off nearly three thousand pilots
Unions on a war footing after announcement
Almost three thousand layoffs: this is the dramatic and inevitable decision that United Airlines is about to take. The Chicago-based company is at the center of journalistic insights today, on Friday August... more
AirlinesAirplanes and carriers, 1/2 billion losses for Norwegian Air Shuttle
Covid-19 had a heavy impact in the first half
“Isn't good Norwegian wood?”: The Beatles wondered, humming the lines of the song “Norwegian wood”. For the low-cost carrier Norwegian Air Shuttle, instead, the situation is not good at all, as confirm... more
AirlinesRyanair appeals against Tap Air Portugal rescue
Flag carrier's aid was not welcome
Ireland against Portugal or rather Ryanair against Tap. Low-cost airline has openly contested the rescue plan guaranteed by Lisbon for Tap Air Portugal, the Lusitanian national airline. Aid amounts to... more
Finance and economyRolls-Royce: 2020 half year results
Decisive actions in response to COVID-19
Rolls-Royce unveiled today the 2020 half year results. Decisive actions in response to COVID-19 Significant H1 impact from COVID-19; timing and shape of industry recovery remains uncertain Successful ex... more
AirlinesPlanes and carriers, Lufthansa will not accept other State aids
Forecasts for September and October remain negative
Can the crisis triggered by the coronavirus be tackled without financial support? Air carrier Lufthansa would like to answer yes to this question or at least it is sure to be able to overcome the difficult... more
AirlinesAlitalia, divorce from Delta Airlines is closer
Lufthansa continues to be the preferred partner
Italian divorce: marriage between Alitalia and carrier Delta Airlines does not have to be done, at least according to what was reported this morning by “Milano Finanza”. Financial partnership for the fut... more
AirlinesAir France, voluntary exit for 365 pilots
Airline will guarantee 13 months' salary
“Voluntary exit” and thirteen months' salary: these are the terms of the agreement between Air France and trade unions, as announced last June. Employment plan is about to start, as reported by French med... more
AirlinesThe corona crisis has sharply weakened Avinor's results
Grants from the Norwegian government ensures continued operation
The demand for national and international flights is greatly reduced due to the measures to limit the spread of the Covid-19 infection. The airlines have adjusted route production and, like Avinor, implemented... more
AirlinesVirgin Atlantic creditors agree to bailout
London High Court is due to be pronounced on 2 September
The long-awaited agreement that airline Virgin Atlantic was willing to better understand what its future will be finally arrived. Creditors accepted the rescue plan of Richard Branson's company, an agreement... more
AirlinesAmerican Airlines, 19,000 layoffs since 1 October
It is 14% of the airline's workforce
Covid-19 does not look anyone in the face and even in the aviation sector it does not give discounts to companies, large or small. The main consequence of the health emergency in this sector is a lower... more
AirlinesPlanes. Air India bailout, new extension for offers
Sale of the airline's shares began in January
March, April, June, August and now also October: for Air India the fifth consecutive postponement has arrived as regards the deadline for the presentation of expressions of interest in the flag carrier... more
AirlinesCOVID-19. Qantas and Jetstar ground handling services
Initiatives affecting its operations at airports across Australia
As part of its COVID recovery plan, the Qantas Group has today informed its people and relevant unions of initiatives affecting its ground handling operations at airports across Australia.Qantas and Jetstar... more
AirlinesSAS: 3Q2020 results
Continued negative impact of COVID-19 -ATTACHMENT
SAS announced today the results in the 3Q2020.The highlights are: May 2020–July 2020Revenue: MSEK 2,507 (13,401)Income before tax (EBT): MSEK -2,071 (1,490)Income before tax and items affecting comparability: MS... more
AirlinesVirgin Atlantic's latest negotiations with creditors
Judgment on the rescue plan is awaited
Negotiations of the carrier Virgin Atlantic with its creditors are in advanced phase. As it turned out at the beginning of this August, British company could run out of liquidity by the end of September... more
AirlinesBusiness air travel crisis: 34 bankruptcies in 2020
Troubled companies are very numerous
Business is business, but air travel to carry it out is now impossible. The alarming situation emerged from the in-depth examination by various economic analysts, according to which the tourism crisis... more
Civil aviationState aid for Tui after sale of 5 planes
Berlin guaranteed rescue of the tourism industry
Rescue is complete: Tui, German industry active in tourism and owner of hotels, ships and airlines, received state aid from Berlin for a total of 1.2 billion euros. Official announcement took place just... more
AirlinesAgreement between British Airways and unions to reduce layoffs
Airline has positively defined this settlement
Talks of last few hours with unions after the announcement of the industrial plan and the protests of employees in the United Kingdom have been positively defined by British Airways (see also the article... more
AirlinesCathay Pacific Airways: 2020 interim results
The integral version of the report - ATTACHMENT
Cathay Pacific Airways Limited announced today 2020 interim results.Cathay Pacific is the flag carrier of Hong Kong, with its head office and main hub located at its International Airport. The airline's... more
AerospaceDefence. US Space Force awards Musk ban on missile launches
These operations are scheduled from 2022 to 2026
An official and "inviting" contract: SpaceX, aerospace company created by Elon Musk in 2002, has signed a $ 316 million agreement with the United States Space Force for space launches that will take place... more
AirlinesEasyJet employees protest at Stansted airport
Low-cost airline announced nearly 2,000 layoffs
EasyJet employees have protested in recent hours outside London-Stansted airport against the low-cost airline's business plan and possible layoffs. The company's decision to close Stansted base, in addition... more