With Latin American (LaTam) governments refusing to bail out their struggling airlines, Aeromexico has become the latest LatAm carrier to file for Chapter 11 bankruptcy as the effect of the Covid-19 pandemic continue to wreak havoc with the travel industry. Aeromexico has made it clear that the bankruptcy filing was totally “voluntary” and that to
Speaking to German newspaper Die Welt, Airbus CEO Guillaume Faury confirmed plans for the world’s largest planemaker to reduce output by 40% over the next two years to counter the drop in demand for aircraft and delivery delay requests resulting from the effects on global travel by the COVID19 pandemic. The company is now in
With initial investigations into the cause of crash involving a Pakistan International Airlines (PIA) Airbus A320 near Karachi on May 22 which killed 97 of the 99 passengers and crew on board, and one civilian on the ground, primarily being put down to pilot error, Pakistan’s Aviation minister, Ghulam Sarwar Khan announced on June 26
The shareholders of Deutsche Lufthansa AG have voted in favor of accepting the capital measures and the participation of the Economic Stabilisation Fund (WSF) of the Federal Republic of Germany in Deutsche Lufthansa AG. The corresponding proposal received the necessary majority at the Extraordinary General Meeting. The package provides for stabilization measures and loans of
Two weeks after Swissport Belgium, part of Swissport International Ltd. filed for insolvency, ground handling company Swissport UK has announced it is reducing its U.K. staffing levels from 8,500 to under 4,000. The Swissport group of companies, Swissport, which handles services such as passenger baggage and cargo for airlines, employed 64,000 workers worldwide prior to
SunExpress Deutschland GmbH (Sun Express Germany), the joint venture carrier involving Lufthansa and Turkish Airlines, is to close with the loss of approximately 1,200 jobs. Sun Express Germany is a separate company to Turkish Sun Express, the latter concentrating predominantly on flights between Germany and Turkey, while the former serves a number of leisure destinations
Textron Inc (Textron) has announced that its plant in Montreal, Canada, which manufactures flight simulators is to suspend production until further notice, endangering approaching 2,000 jobs across a number of business units. The suspension of operations is as a result of the effect the coronavirus pandemic has had on the travel industry. Textron also anticipates
Airbus has announced that it will be extending staff furloughs in various company sectors in both the U.K. and Spain. In the UK, some 2,200 Airbus workers will have their period of furlough extended up until August 9, while in Spain, most of the Company’s SL employees will be furloughed until September 30, which extends
Akbar al-Baker has confirmed that Qatar Airways will be suspending delivery of all aircraft on order from Boeing until 2022 and that deliveries beyond that will be based on the knock-on effect of these delays owing to the effects on air travel resulting from the global coronavirus pandemic. The Gulf carrier has billions of dollars’
The International Air Transport Association (IATA), which represents approximately 290 airlines across the globe, has colled on governments to support airlines during what is anticipated to be a very harsh winter from an economic standpoint as a result of ongoing COVID-19 concerns. It has been estimated that, globally, airlines will post a combined loss approaching
