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
Emirates Group (Emirates) is looking to make substantial cuts in its workforce as it tries to mitigate the financial costs of the COVID-19 pandemic, according to Bloomberg news. The Gulf carrier suspended all regular passenger flights in March and like all airlines has struggled to cope, financially, with the approximate 95% drop in demand for
Delta Air Lines (Delta) has announced that it is retiring its fleet of 18 wide-body 777 jets as part of a necessary strategy to simplify and modernize its fleet of aircraft through the operation of more streamlined and cost-efficient aircraft. As an example, the long-haul next-generation Airbus A350-900 burns 21% less fuel per seat than
With the COVID-19 pandemic bringing international air travel to a standstill and millions of customers now demanding cash refunds for canceled trips TUI, the world’s largest holiday company has begun what it sees as only the first round of redundancies as it announces 8,000 staff, approximately 10% of its workforce, are being laid off. Despite
