Singapore Airlines (SIA) will be cutting 96% of the capacity that had been originally scheduled up to the end-April, given the further tightening of border controls around the world over the last week to stem the COVID-19 outbreak. This will result in the grounding of around 138 SIA and SilkAir aircraft, out of a total […]
Singapore Airlines Makes significant capacity cuts and grounds aircraft Read More »
Lilium, the Munich-based aviation company developing an all-electric, vertical take-off and landing aircraft for regional air mobility, has completed an internal funding round worth more than US$240 million. The round was led by Tencent, with participation from other existing investors including Atomico, Freigeist and LGT. The new funds bring the total sum raised to date
Lilium completes funding round worth more than US$240 million Read More »
Sabre Corporation, the software and technology company that powers the global travel industry, is taking significant measures to strengthen its financial position in response to the current industry conditions. The travel industry continues to be adversely affected by the global health crisis caused by the outbreak of COVID-19, as well as by government directives that
Sabre announces over US$200 million in cost saving actions Read More »
Boeing has confirmed that to assist with its request for government aid to aid both itself and other manufacturers in the aerospace supply chain, it will suspend paying any dividends, the company CEO will forego his salary, and the current embargo on share buybacks will remain in place, indefinitely. Like many companies in the aerospace
Boeing suspends dividends and CEO waives salary as planemaker seeks government loan Read More »
Air Lease Corporation (ALC) has delivered one new Airbus A320-200neo aircraft on long-term lease to Air Seychelles. Featuring CFM International LEAP-1A26 engines, this aircraft was delivered from ALC’s order book with Airbus. “We are pleased to announce this new A320-200neo delivery to Air Seychelles and further ALC’s long-time relationship with the airline,” said Steven F.
Air Seychelles takes delivery of new Airbus A320-200neo from ALC Read More »
Airbus will bolster its liquidity and balance sheet in response to the COVID-19 pandemic as it continues to assess the ongoing situation and the impact on its business, customers, suppliers and the industry as a whole. Airbus’ management has received approval from the Board of Directors to secure a new credit facility amounting to €15
Airbus secures credit facility of €15 billion; withdraws 2020 guidance Read More »
OneWeb, the global communications company announced the successful launch of 34 more satellites, aboard a Soyuz launch vehicle from the historic Baikonur Cosmodrome, Kazakhstan. Lift-off occurred on March 21. OneWeb’s satellites separated from the rocket and were dispensed in nine batches. This is the second of its 34 satellite launches in six weeks, an achievement
OneWeb successfully launches 34 more satellites into orbit Read More »
Longview Aviation, parent company of De Havilland Aircraft of Canada and Viking Air, announced the immediate suspension of manufacturing operations for new production Dash 8-400 aircraft at De Havilland’s Downsview facility in Toronto, and new production Series 400 Twin Otter aircraft at Viking’s facilities in Victoria, BC and Calgary, Alberta. Production on these aircraft will
Longview Aviation to temporary suspend Dash 8-400 production Read More »
Finnair is implementing a substantial funding plan in order to secure the company’s future even in a prolonged coronavirus situation. The plan includes funding instruments such as available credit lines, sale and leasebacks of unencumbered aircraft and a substantial, market-based pension premium loan. The available credit lines included in the funding plan consist of a
Finnair implements substantial funding plan Read More »
Following the country lockdowns, travel restrictions and changes to travel advice across its network, easyJet will ground the majority of its fleet of aircraft from Tuesday, March 24 onwards. The carrier will continue to operate rescue flights as required to repatriate customers and anticipate most of its rescue operations to be completed by today, March
easyJet to ground majority of fleet from March 24 Read More »
