The future of Singapore Airlines (SIA) amidst the COVID-19 outbreak looks assured with a successful rescue package being put in place, headed by state investor Temasek Holdings, amounting to SG$19 billion. The figure represents the largest aid package to date for any airline struggling with the dramatic decrease in air travel. The package comprises SG$5.3
While securing business continuity, Airbus, the world’s largest planemaker, has been taking stringent measures to ensure the safety and wellbeing of its workforce during the current COVID-19 outbreak. On Monday, March 23, production resumed in Spain and France after four-day break for deep cleaning and re-evaluation of the situation, while operations in the U.K., U.S.,
FACC, owned by China’s Aviation Industry Corporation, is rapidly reassessing its €33 million (US$36 million) project to build an automated, digitized production complex in Croatia. In addition, the company has opted not to pay a dividend for last year. The situation has come about through the aviation industry’s reaction to the COVID-19 outbreak and, as
Airbus plants in France and Spain are to “partially resume” production after a four-day intermission while the overall effects of the COVID-19 were assessed in relation to working practices within the company, and to allow for deep cleaning of production lines. However, the work will be at a much slower rate and production practices have
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
The coronavirus crisis has seen share values in the aerospace sector tumble drastically, and a combination of cash problems at Boeing and a huge drop in Embraer’s share value has left the 2017 deal for Boeing to acquire an 80% stake in the commercial arm of the Brazilian planemaker on a knife edge. The situation
With the devastating impact the coronavirus outbreak is having on the aerospace industry, Boeing, the world’s second-largest planemaker, has thrown its weight behind the governments financial support for the aerospace sector to the tune of US$60 billion. The financial lifeline may prove especially beneficial to Boeing which has been struggling, financially, since the grounding of
In a surprise move at a time when all travel to and from Italy has been banned, the Italian government has announced it is looking to re-nationalize Alitalia, the airline which filed for bankruptcy in 2017 and which, while still operating, has been losing an estimated €2 million per month. Since Alitalia went into administration,
Willie Walsh has confirmed that, for the foreseeable future, he will remain at the helm of IAG as its Group chief executive, while his successor-in-waiting, Luis Gallego, will remain in charge as CEO at Iberia. IAG, headquartered at London Heathrow, comprises a number of subsidiary airlines, including Aer Lingus and Aer Lingus Regional, British Airways,
The FAA is to launch an in-depth investigation after a Southwest Airlines (Southwest) 737, en route to Boise, Idaho from Las Vegas, Nevada, experienced a gradual loss of cabin pressure, during which, over a six-minute period, the pilots began a rapid descent from 36,000 feet down to 22,000 feet, an altitude deemed much safer for
