Finance and economy
3,225 news found
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
Civil aviationChina wants to improve intelligent transport
Beijing published guidelines that also concern civil aircraft
Transportation industry is one of China's top priorities in this historical period. Guidelines that Beijing published to digitize this sector and make the most of so-called “intelligent” technologies are... more
Finance and economySecond auction to sale Uruguay presidential aircraft
Plane has sparked bitter debates since its first appearance
There is a specific date for second auction in which Uruguay's presidential aircraft could be sold. On Thursday 15 October at 12 am there will be no starting auction base at the location chosen by the... more
AirlinesBritish Airways, six thousand employees accept voluntary exit
There were numerous protests in England just yesterday
About six thousand workers of British Airways carrier accepted the so-called “voluntary exit”, a decision taken following the protests and the increasingly numerous protests in United Kingdom against the... more
AirlinesLufthansa Group: 2Q2020 results
The cargo sector with a strong period -ATTACHMENT
Consequences of Corona pandemic have a considerable impact on its data more
AirlinesVirgin Atlantic could run out of liquidity by September
One of the company's lawyers reported this in court
Not a penny: it's not encouraging the prospect that could be closely related to the carrier Virgin Atlantic Airways Limited, according to reports in court this morning by David Allison, lawyer of the company... more
AirlinesRomania could save Tarom airline
Flag carrier may soon receive State aid
A small glimpse: for Tarom, flag carrier of Romania, a less uncertain future can be imagined after what was discussed today at the Ministry of Transport during a public debate. The ministry examined the... more
DefenseDefence. German and French companies will give up on American technologies
They mainly produce drones and fighter planes
Greater independence from the United States: this is the goal that several German and French companies have set for themselves in the production and manufacture of rifles, fighter planes and drones. American... more
Finance and economySafran: strong operational execution brings resilience in 1H 2020
Covid-19, adjusted and consolidated data -ATTACHMENT
The Board of Directors of Safran, under the Chairmanship of Ross McInnes, at their meeting in Paris on July 29, 2020 (the company communicated yesterday the results), adopted and authorised the publication... more
Finance and economyLeonardo strengthens financial support for its supply-chain
Also in this context affected by the pandemic situation
Leonardo confirms its commitment to support and strengthens the industrial structure and competitiveness of its supply chain AD&S sector on international markets, also in this context affected by the... more
Finance and economyLeonardo: results at 30 June 2020
The highlights -ATTACHMENT
Leonardo's Board of Directors, convened yesterday under the Chairmanship of Luciano Carta, examined and unanimously approved the results of the first half 2020.The highlights:Responding robustly to COVID-19Quick... more
AirlinesThailand, court grants Nok Airlines bankruptcy protection
Low travel demand made the company going in liquidation
No possibility of recovery: these words were used a few weeks ago by the board of directors of NokScoot Airlines, low-cost carrier that is part of Nok Airlines. Now there is an important update about conditions... more
Civil aviationPlanes-helicopters. Airbus reports Half-Year (H1) 2020 results
The highlights - ATTACHMENT
Airbus reported consolidated financial results for the Half-Year (H1) ended 30 June 2020.The highlights are: Industrial system adjusted to new production levels, cash containment and business resizing... more
Civil aviationAirplanes-helicopters. Boeing reports 2Q results
They continue to be impacted by COVID-19 and the 737 MAX aircraft grounding
Boeing reported second-quarter results.The highlights:Financial results continue to be significantly impacted by COVID-19 and the 737 MAX aircraft groundingRevenue of $11.8 billion, GAAP loss per share... more
AirlinesRyanair: Covid-19 grounds 99% of its aircraft fleet
40% of its flights resume 1 July
Ryanair Holdings plc today (27 July) reported a Q1 loss of € 185m, compared to a PY Q1 net profit of € 243m. Highlights of Q1 include:Over 99% of the aircraft fleet grounded from mid-March to end June... more
AerospaceThales: 2020 half year results
The highlights
Thales’s Board of Directors met on 23 July 2020 to review the financial statements for the first half of 2020.The highlights are:Order intake: €6.1 billion, down 13% (-23% on an organic basisSales: €7.... more
AirlinesUnited Airlines, big losses in the second quarter
American aircraft must face flights restrictions
Skies are friendly for United Airlines (like its claim says) but it’s not the same for last financial numbers. Company announced details of 2020 second quarter. These 3 months were so difficult, maybe t... more
Finance and economyLockheed Martin reports 2Q2020 results
The highlights
Lockheed Martin reports second quarter 2020 results.The highlights are: Net sales of $16.2 billionNet earnings of $1.6 billion, or $5.79 per shareGenerated cash from operations of $2.2 billionAchieved... more
Finance and economyLeonardo issues on the Eurobond market a EUR 500 million of bonds
The offering has a 5.5 year tenor
Leonardo successfully issued yesterday a EUR 500 million bond. The offering, targeted to Italian and international institutional investors, has a 5.5 year tenor, maturity January 2026, and a fixed-rate... more
Finance and economyLeonardo: new bond issue
Dedicated to institutional investors
Short. Leonardo SpA has mandated a group of primary international banks to proceed with a new bond issue, reserved to institutional investors only, to be placed in the Eurobond market and to be issued... more
Finance and economyAircraft and transport. IATA: industry losses to top $84 billion in 2020
According to the financial outlook released by the Association -ATTACHMENT
The International Air Transport Association (IATA) released its financial outlook for the global air transport industry showing that airlines are expected to lose $84.3 billion in 2020 for a net profit... more
Finance and economyFincantieri: shareholders' meeting approves 2019 financial statements
And it appoints new Board of statutory auditors
Fincantieri SpA held its ordinary Shareholders’ Meeting today in Trieste on a single call.In consideration of the COVID-19 health emergency and taking into account the regulatory provisions issued for t... more
Finance and economyAircraft. Embraer: earnings results 1st quarter 2020
The company delivered five commercial and nine executive jets -ATTACHMENT
Embraer announced today earnings results 1Q20.The highlights:The company delivered five commercial jets and nine executive jet aircraft (five light / four large) in 1Q20, and the Company’s firm order b... more
Finance and economyAtlantia: extraordinary Board meeting
It examined the overall situation of its subsidiary, Autostrade per l’Italia (ASPI)
Last Friday’s extraordinary meeting of Atlantia’s Board of Directors examined the overall situation of its subsidiary, Autostrade per l’Italia (“ASPI”). The Board noted that, as of today, there has been... more
Finance and economyAutogrill: shareholders' meeting approves the 2019 financial statements and new BoD
30 April 2020 trading update -ATTACHMENTS
The Shareholders' Meeting of Autogrill SpA, held yesterday in ordinary session and chaired by Paolo Zannoni, examined and approved the 2019 financial statements, which reported a net profit of €35.4m. T... more
Finance and economyLeonardo: shareholders' meeting approves 2019 financial statements, and appoints new BoD
Luciano Carta as Chairman -ATTACHMENT
The Shareholders’ Meeting of Leonardo Spa, convened today in Rome, has resolved on the followingsCompany Financial Statements for 2019 approvedSistemi Dinamici SpA Financial Statements at 31 December 2... more
Finance and economyFincantieri: BoD approves 1Q2020 results
Total backlog at 31.9 billion -ATTACHMENT
Primary objectives: employees safety and backlog safeguard more
Finance and economyIAG (BA and Iberia): 1Q2020 financial results
Gallego will succeed Walsh as Group CEO in September -ATTACHMENT
International Consolidated Airlines Group (IAG, that includes British Airways and Iberia carriers) presented yesterday Group consolidated results for the three months to March 31, 2020. The results for... more