Airlines

Transportation • Air Transportation & Traffic, Flying
2020-05-31T17:49:11+00:00
Embraer in talks for a $600 million financing
Embraer 190
Embraer 190 Credit: Antônio Milena/ Agência Brasil

Planemaker Embraer is negotiating to obtain $600 million in credit lines led by Brazil’s state development bank BNDES. According to Brazilian government sources the deal should be closed in June and Bradesco, Santander, Itaú, Citibank, Morgan Stanley and Natixis will also be involved in the financing.

Transportation • Air Transportation & Traffic, Flying
2020-05-26T07:40:34+00:00
LATAM Airlines files for U.S. Chapter 11 bankruptcy protection
LATAM Airlines Airbus departing from John F. Kennedy International Airport
LATAM Airlines Airbus departing from John F. Kennedy International Airport Credit: Adam Moreira (Creative Commons Attribution ShareAlike 4.0)

Latin America's largest airline Latam Airlines says it is seeking Chapter 11 bankruptcy protection due to a slump in travel worldwide sparked by the Covid-19 pandemic.
Latam said the bankruptcy filing has the support of the Cueto and Amaro families, as well as large shareholder Qatar Airways.
The company said it had about $1.3 billion in cash on hand and its affiliates in Argentina, Brazil and Paraguay were not included in the Chapter 11 filing.
LATAM Airlines' Brazilian affiliates are in discussions with the Brazilian government about the next steps and financial support for operations in the country.

Politics • European
2020-05-19T16:19:05+00:00
Spain lifts ban on air and sea travels from Italy

Spain is lifting a ban on direct flights and ships from Italy imposed since March 11 to curb Covid-19 infections.
Travellers from Italy will have to comply with a two-week quarantine like other foreign visitors, while a state of emergency remains in place.

Technology • Internet & Web
2020-05-19T15:00:55+00:00
Easyjet data breach exposes 9 million accounts and 2,208 credit cards
EasyJet plane at London Airport
EasyJet plane at London Airport Credit: unsplash.com/ Elio Santos

The UK airline company claims that it has already "closed off this unauthorised access" and contacted the customers with credit card details taken. Email addresses and travel details were accessed by the cyber-attackers, but not the passport records.

Transportation • Air Transportation & Traffic, Flying
2020-05-18T08:32:16+00:00
Ryanair announces job cuts and other cost-cutting measures
Ryanair airplane at Bratislava Airport
Ryanair airplane at Bratislava Airport Credit: unsplash.com/Anastasia Dulgier

The Irish budget airline Ryanair is in negotiations with its trade unions and employees about a series of cost-cutting measures. With the Covid-19 pandemic reducing passengers by more than 5 million and a presumed €200 million first quarter loss, the airline plans to cut around 3,000 jobs and is working out unpaid leave and pay cuts with its employees.

Transportation • Air Transportation & Traffic, Flying
2020-05-17T17:50:51+00:00
Emirates considers cutting 30,000 jobs due to the pandemic
An Emirates A380 plane taking off
An Emirates A380 plane taking off Credit: Julian Herzog (Creative Commons Attribution ShareAlike 4.0)

Emirates Group is evaluating plans to cut about 30,000 jobs as the airline seeks to reduce costs after the Covid-19 pandemic grounded most of its fleet.
Bloomberg also reports the company is also considering speeding up the planned retirement of its Airbus A380 fleet.

Business • Economy
2020-05-16T14:08:06+00:00
Air Canada to Lay off Half of its Workers

After grounding more than 200 planes and slashing 95% of its flight capacity due to the decrease in demand as a result of the COVID-19 outbreak, the Canadian flag carrier is about to fire roughly 20,000 of its 39,000 employees. The layoffs, which will take place on the 7th of June, will affect a minimum of 19,000 staff and could go as high as 22,800.

Transportation • Air Transportation & Traffic, Flying
2020-05-12T18:02:46+00:00
Ryanair hopes to operate 1,000 flights a day from early July on
Turbine of a Ryanair airplane
Turbine of a Ryanair airplane Credit: Lucas Davies (Creative Commons Attribution ShareAlike 4.0)

Ryanair hopes to start operating almost 1,000 flights a day, equivalent to 40% of its usual schedule, in July as European Governments lift the lockdowns related to the Covid-19 pandemic.
The airline, which is Europe's largest by passenger numbers, announced this Tuesday that it plans to operate a daily flight schedule of almost 1,000 flights starting July 1. It will focus on flying as many routes as possible at a lower frequency than normal.
Currently, Ryanair schedule consists of 30 flights daily.

Transportation • Air Transportation & Traffic, Flying
2020-05-12T10:09:50+00:00
Fired Qatar Airways employee billed $145,000 training costs
Qatar Airways airplane mid-flight
Qatar Airways airplane mid-flight Credit: Pexels/Sohel Patel

In a letter sent on May 7, Qatar Airways terminated one of their employees without notice, stating stating "We regret to inform you that your services with the company are no longer required," and charged him QAR529,000 ($145,000 or €135,000) for "the expenses undertaken by the company for providing the Commercial Pilot Training". Qatar Airlines has cut hundreds of employees during the Covid-19 pandemic, it's unclear whether other pilots were asked for compensation. Many trainee pilots are required to sign a training bond in which they agree to compensate the airline if they leave the company within a set period.

Transportation • Air Transportation & Traffic, Flying
2020-05-11T17:57:29+00:00
Airline Avianca filed for bankruptcy
Avianca Boeing on Runway
Avianca Boeing on Runway Credit: Richard Vandervord / CC BY-SA (Creative Commons Attribution 4.0)

Colombian airline Avianca, the world's second-oldest airline, has filed for Chapter 11 bankruptcy. According to a statement on its website, the airline cited "unforeseeable impact of the Covid-19 pandemic" as the reason for its decision. After the impact of the pandemic cut 80% of the airline's income, 20,000 employees have been put on unpaid leave.

Transportation • Air Transportation & Traffic, Flying
2020-05-11T17:58:54+00:00
Virgin Atlantic to cut over 3,000 jobs and quit Gatwick Airport operations
Virgin Atlatnic A330neo press image
Virgin Atlatnic A330neo press image Credit: Virgin Atlantic/Press Images

The British airline Virgin Atlantic plans to cut over 3,000 jobs – one third of their workforce – as the airline suffers from Covid-19 repercussions. The airline will also cease operations at Gatwick Airport and move all of its operations to London Heathrow. Shai Weiss, chief executive of Virgin Atlantic said in a statement that "now is the time for further action to reduce our costs, preserve cash and to protect as many jobs as possible. It is crucial that we return to profitability in 2021".

Transportation • Air Transportation & Traffic, Flying
2020-05-11T17:59:20+00:00
Air France-KLM obtain European Union approval for a 7 billion euros bailout
Air France Airbus A380-800, landing on Washington Dulles International Airport
Air France Airbus A380-800, landing on Washington Dulles International Airport Credit: Joe Ravi (Creative Commons Attribution ShareAlike 4.0)

The European Union's competition watchdog on Monday approved French state aid worth 7 billion euros for Air France-KLM.
Conditions for the funding. Include the requirement for the company to be a “good customer” for European planemaker Airbus SE, which is also struggling, and a revamp of loss-making services within France.
“There will be an elimination of domestic routes,” Finance Minister Bruno Le Maire said Monday on France-Inter radio, adding that the state aid is tied to “Air France becoming the company that most respects the environment.”

Transportation • Air Transportation & Traffic, Flying
2020-05-11T17:59:39+00:00
Prime Minister Katrin Jakobsdottir says Iceland support for Icelandair may involve a stake in the company
Prime Minister Katrin Jakobsdottir says Iceland support for Icelandair may involve a stake in the company
Credit: Iceland (Creative Commons Attribution ShareAlike 4.0)

In an interview with a local radio station, Iceland Prime Minister Katrin Jakobsdottir disclosed the government may consider taking a stake in Icelandair Group if there is an injection of funds into the airline.
“If there will be specific support, we need to weigh if it is natural that the state gets a share in it or if the state’s interest is better guarded with another solution,” Jakobsdottir said in the interview.

Transportation • Air Transportation & Traffic, Flying
2020-05-11T17:59:55+00:00
Norwegian Air nearer to a $1.2 billion debt-for-equity swap deal as bondholders support plan

Norwegian Air reached an agreement from enough bondholders to a $1.2 billion debt-for-equity swap.
The budget airline is poised to run out of cash by mid-May without approval for its plan, which involves handing over most of the company to its lessors and bondholders.

Business • Economy
2020-05-03T12:26:02+00:00
Warren Buffett has sold all of his stocks in US airlines

The investment company Berkshire Hathaway under the lead of CEO Warren Buffett has sold all its holdings of US airline stocks. Buffett had announced during the company's annual meeting that the stocks were sold for in full and for a loss, because "when we change our mind we don't take half measures or anything of the sort".