The worlds of Formula 1 and commercial airlines are today mourning the sad passing of Niki Lauda. His family announced today (Tuesday) that he had “passed away peacefully” on Monday, May 20. He was 70. Lauda was FI World Champion three time, in 1975 and 1977 while driving for Ferrari, and again in 1984 while
Ryanair has reported its lowest annual profit for four years, warning that earnings could fall further during what CEO Michael O’Leary describes as “attritional fare wars”. Shares closed at €10.30, a drop of 4.6%, having rallied slightly from a 6% drop after reassurance from O’Leary that a couple of years of lower fares and profitability
Having been in administration since last year, Italian aircraft maker Piaggio Aerospace will not be broken up as a buyer is sought, according to a statement from Italian government Deputy Prime Minister Luigi Di Maio. The hope is that a buyer will be found for the whole, or one of its two divisions – engines
Munich, Germany-based Lilium has unveiled its latest all-electric jet-powered five-seat taxi which has the capability and range to enable it to fly up to 300km in just 60 minutes with zero emissions. The Lilium Jet has been developed as part of a revolutionary on-demand air taxi service. The prototype was shown off for the first
A combination of the delivery of fewer planes and a surge in spending ahead of the deal which will see Boeing take an 80 per cent stake in the commercial jets arm of the Brazilian planemaker has resulted in Embraer posting a US$42.5 million loss for the first quarter, 2019. Revenue fell 26 percent to
The day after Jet Airways chief financial officer Amit Agarwal resigned, the grounded Indian low-cost carrier’s chief operating officer, Vinay Dube has also resigned, for what has been stated as “personal reasons”. Agarwal’s resignation was effective from May 13, while Dube’s resignation is effective immediately, as of May 14. Dube joined jet Airways in 2017,
Onex Partners, the private equity platform of Toronto-based Onex Corporation, will lead the investment buyout of Canada’s second-largest commercial carrier WestJet for an agreed figure of CA$3.5 billion, plus a further CA$1.5 billion in assumed debt. The announcement today comes two months after Onex first approached the board of WestJet in March. Onex will pay
At the end of the week where Dubai-based Emirates posted a 69 percent drop in its full-year profit, the carrier’s Executive Vice President and Chief Commercial Officer, Thierry Antinori, has resigned with immediate effect. Adnan Kazim, Divisional Senior Vice President, Strategic Planning, Revenue Optimisation and Aeropolitical Affairs has been appointed as the acting CCO in
Early this Thursday morning, the sighting of a drone at Germany’s Frankfurt airport resulted in all take-offs and landings being suspended for approximately one hour as the incident was investigated. At just after 8.15 a.m. local time the all-clear was given, but not before 143 take-offs and landings were canceled. In addition, 48 aircraft which
As is becoming a regular occurrence, the arrival of the summer holiday season in Europe has seen the commencement of two commercial aviation-related strikes. This Friday, a number of airport staff, along with some employees of debt-ridden Alitalia, and Air Italy, will be going on strike between 12 noon and 4 p.m. local time, though
