The International Air Transport Association (IATA) updated its analysis of the revenue impact of the COVID-19 pandemic on the global air transport industry. Owing to the severity of travel restrictions and the expected global recession, IATA now estimates that industry passenger revenues could plummet US$252 billion or 44% below 2019’s figure. This is in a […]
Norwegian has reported that two Nordic banks have obtained credit committee approval to provide a guarantee for the required 10% for the first tranche of NOK 300 million. Norwegian will secure the necessary headroom to pursue further guarantees from the Norwegian Government. On March 19, the Norwegian Government proposed a guarantee of NOK 6 billion
ePlane, the advanced AI driven, B2B Sourcing and Business Intelligence platform for the Aerospace Parts and Repair markets announced the investment led by major Japanese trading and investing company, Marubeni Corporation, and current investors totaling US$9 million. ePlane is changing the way companies in the Aerospace industry are conducting business. The revolutionary online platform enables
Marubeni Corporation announces investment with Aerospace B2B solutions provider, ePlane Read More »
Airbus plants in France and Spain are to “partially resume” production after a four-day intermission while the overall effects of the COVID-19 were assessed in relation to working practices within the company, and to allow for deep cleaning of production lines. However, the work will be at a much slower rate and production practices have
Airbus to recommence production after four-day shut down, but at a slower pace Read More »
Liebherr-Aerospace Brazil has achieved a new milestone in the development of the company: from now on, when supplying parts to third- party customers, the company will manage its supply chain and will hence increase its control over the share of its performance and of its competitiveness that is linked with its suppliers. Initially founded as
Liebherr-Aerospace Brazil enhances competitiveness Read More »
Hawaiian Airlines, in preparation for a 14-day government quarantine order for all Hawai‘i arrivals set to begin Thursday, March 26, due to the COVID-19 pandemic, will maintain its regular flight schedule through Wednesday to allow guests to return home and to accommodate the repatriation of aircraft before finalizing significant reductions of its domestic and international
Hawaiian Airlines to suspend most long-haul passenger service due to quarantine order Read More »
The coronavirus (COVID-19) is by far the most significant issue to affect the technology industry in 2020. It will put incredible strain on the world’s economy, which will be effectively halted for three months or more. Many companies will not survive this initial phase, and almost all others will suffer significant drop in revenues, says
Security software firms will earn their spurs keeping home-working army cyber-safe Read More »
Employees in Germany who have completed medical training can now be released quickly and un-bureaucratically on a voluntary basis for specific work in a medical facility. Lufthansa will continue to pay the full basic salary of those employees, and further details of this initiative are currently being worked out. Additionally, the Lufthansa Group is waiving
Boeing has announced the temporary suspension of production operations at its Puget Sound area facilities in light of the state of emergency in Washington state and the company’s continuous assessment of the accelerating spread of the coronavirus in the region. These actions are being taken to ensure the well-being of employees, their families and the
Boeing to temporarily suspend Puget Sound production operations Read More »
Lufthansa Technik AG continued on its growth path in the past financial year and closed 2019 with record revenue and earnings. Revenue rose by 13% to €6.9 billion. Earnings before interest and taxes (adjusted EBIT) grew by around eleven percent to €493 million. The extent of the effects of the worldwide aviation crisis affecting Lufthansa
Lufthansa Technik expects massive drop in revenue after record year 2019 Read More »
