Following on from the month of March where the world’s second-largest planemaker posted 150 MAX cancellations, which included 75 from Avolon, the Irish leasing company, April has now seen a further 75 cancellation. These include 34 of a 135-jet order from Brazil’s GOL. This is now the thirteenth month since the 737MAX was grounded following
easyJet has delayed the delivery of 24 Airbus jets as it looks to stave off pressure from its major shareholder and former founder, Stelios Haji-Ioannou. Haji-Ioannou is pushing hard for the cancelation of the order for the 24 jets and is looking to have two directors of Europe’s second-largest low-cost carrier, chief financial officer, Andrew
In a bid to deal with the economic ramifications of the COVID-19 pandemic Norwegian, Europe’s third-largest low-cost carrier, is now looking to convert up to US$4.3 billion of debt into equity and will be issuing new shares in an attempt to stay afloat. The strategic move is in response to the requirements needed to meet
Stelios Haji-Ioannou, founder of Europe’s second-largest low-cost carrier easyJet, is looking to oust the carrier’s current chief financial officer, Andrew Findlay, and non-executive director Andreas Bierwirth, in an attempt to have an order for 107 jets with Airbus canceled. Haji-Ioannou was opposed to the purchase of the jets, valued at approximately US$5.5 billion, from the
Based on its long-term view of the effects of the COVID-19 outbreak, the Executive Board of Deutsche Lufthansa AG has opted for strident measures to reduce capacity of flight operations and administration. The Board feels that while it will be many months before the airline industry will see any regrowth from current levels through the
The planned US$6.4 billion all-stock merger between two major aerospace and defense suppliers, Hexcel Corp and Woodward Inc, has been abandoned by mutual consent in light of the ravages the effects of the COVID-19 pandemic are having on the aerospace industry. With the companies’ two principal customers Boeing and Airbus cutting back on or halting
The dramatic impact of the coronavirus, combined with the longer-than-expected grounding of the Boeing 737 MAX jet has seen Avolon, the world’s third-largest commercial jet lessor, cancel an order for 75 737 MAXs as well as four Airbus A330neos. Boeing has confirmed the cancelations, describing them as by mutual agreement. However, Avolon was keen to
Talks with Polish Airline LOT to take over Condor, part of the now defunct Thomas Cook Group, are looking to grind to a halt amidst the current drop in domestic and international travel owing to COVID-19 restrictions. Having previously rescued the struggling carrier with a €380 million (US$415 million) state bridging loan to allow the
Having announced two weeks ago that it was to retire 34 Boeing 757s and 17 Boeing 767s, American Airlines has announced that with the dramatic downturn in world travel, it will now be retiring 76 Boeing 737s that the carrier acquired between 1999 and 2001. In addition, it will also be retiring nine Airbus and
On the day that easyJet announced it has grounded all its aircraft, the U.K. government has announced that it will be inviting furloughed staff from both Virgin Atlantic and easyJet to take up non-clinical positions in five National Health Service (NHS) “field” or “Nightingale Hospitals” to be located throughout the U.K. including London, Manchester, Birmingham,
