Finance and economy
3,225 news found
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
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