21 April 2020

Richard Branson to mortgage Necker Island as he seeks bailout for Virgin Atlantic

Over recent weeks, billionaire Sir Richard Branson has been on the receiving end of negative press in relation to his request to the British government for a £500 million (US$625 million) bailout to stop Virgin Atlantic going bust. Many feel he should use part of his estimated £4.7 billion (US$5.88 billion) personal fortune instead. Branson […]

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Heston MRO adds Part 147 Technical Training Organisation

Heston MRO MTOE (Heston), the independent MRO organization headquartered in Brisbane, Australia, has added Part 147 Technical Training capability to its range of services. On April 7, the Australian Civil Aviation Safety Authority (CASA) approved Heston and issued a Part 147 Approval Certificate, allowing itto deliver technical training courses, conduct examination, as well as issue

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United reports preliminary first-quarter pre-tax loss of US$2.1 billion

For the first-quarter of 2020, United Airlines Holdings (UAL) and United Airlines, a wholly-owned subsidiary of UAL, recorded a pre-tax loss of US$2.1 billion, $1.0 billion pre-tax loss on an adjusted basis. Total revenues were US$8.0 billion, a 17% decline year-over-year. The results are preliminary and final results for the first quarter may change. As

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Mesa Air Group and Southwest Airlines to receive assistance from Treasury Department under payroll support program

Mesa Air Group has released that it expects to receive US$92.5 million in assistance from the Treasury Department under the Payroll Support Program as part of the Coronavirus Aid, Relief and Economic Security (CARES) Act. The funds can only be used for the continuation of payment of employee wages, salaries, and benefits for the period

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ST Engineering secures S$1.6 billion worth of new contracts for first-quarter 2020

Singapore Technologies Engineering (ST Engineering) has secured new contracts worth about SG$1.6 billion, secured by its Aerospace and Electronics sectors in the first quarter of 2020. These contracts are over and above a defense contract that its Land Systems arm secured. The group’s aerospace sector secured about SG$838 million across its spectrum of aviation manufacturing

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HAECO launches passenger aircraft interior stowage devices

HAECO Cabin Solutions has launched new, certifiable devices to allow package stowage in the main passenger cabin. As the COVID-19 environment developed, the company noted that airlines were beginning to use passenger flights strictly for cargo. At the same time, social distancing directives were being instituted nationwide. HAECO quickly developed solutions to allow airlines to

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