In return for a €9 billion (US$9.8 billion) bailout package, Germany’s flag-carrying airline Lufthansa will relinquish up to a 20% stake in the carrier to the German government. In addition, Lufthansa will have to relinquish over 24 of its take-off and landing slots at Frankfurt and Munich airports to new competitors. There will be a
BALPA, the British Airline Pilots’ Association and pilots’ union has criticized easyJet for its announcement of a shedding of up to 30% of its staff without prior consultation. The union sees this volume of layoffs as totally unnecessary and that it would need “a lot of convincing” that easyJet needed to make “such dramatic cuts.”
Having laid off over 5,520 workers through its Voluntary Lay Off program, Boeing has announced that the company’s current financial plight will require the shedding of many thousands more jobs over the coming months, starting with an initial tranche of 6,700 compulsory redundancies. The world’s second-largest planemaker has been struggling with the financial fallout from
Fiji Airways has announced that it will permanently cut its current staff levels by 51% while also negotiating with lenders and aircraft lessors to defer payments and, additionally, arrange further debt financing as the South Pacific carrier struggles with the fallout from the COVID-19 pandemic. The staff cuts equate to 758 employees, of which 78
After many weeks of protracted negotiations, Deutsche Lufthansa AG (Lufthansa), Germany’s largest and Europe’s second-largest carrier has announced it has come to a deal with the German government over a rescue package valued at €9.0 billion. The airline, which also includes subsidiaries Germanwings, Austrian Airlines, Swiss International Airlines and Brussels airlines has agreed to give
Mitsubishi Heavy Industries, parent company of Mitsubishi Aircraft, has announced that all facilities in America associated with the development of its SpiceJet aircraft are to close with the loss of approximately 600 jobs. The recently rebranded SpaceJet project has been beset with problems since it was first launched as the Mitsubishi Regional Jet in 2008
Both JetBlue and United Airlines have announced new safety measures that will be put in place for passengers using their airlines in a bid to restore confidence in air travel. With the re-opening if U.S. states, an increase in domestic travel is anticipated and green shoots of a recovery from a pandemic which has seen
easyJet, Europe’s second-largest low-cost carrier has admitted that in January this year the company was the subject of a “highly sophisticated cyber-attack” and that email addresses and travel details of approximately nine million passengers had been compromised. In addition, the credit card details, including the all-important CVV security code number of 2,208 accounts had been
Long before the COVID-19 pandemic had any effect on Thai Airways International Plc’s finances, the Southeast Asian Carrier was already in trouble, having failed to post a profit in all but one year since 2012 and reported losses of 12.04 billion baht (US$377.3 million) in 2019. The state-controlled airline has struggled to deal with bloated
Ethiopian Airlines’ (Ethiopian) chairman, Tewolde Gebremariam, has confirmed that he anticipates the settlement of a compensation package with Boeing in relation to lost revenue owing to the grounding of the 737 MAX after the crash of one of the jets belonging to Ethiopian in March 2019. “We have invited Boeing to discuss compensation. It’s compensation
