Norway extends state loan guarantee scheme for airlines

Norway’s government plans to extend its state loan guarantee scheme for airlines until the end of October saying the crisis is lasting longer than envisaged when the program was initially launched. The government launched the scheme in March, under which NKr6 billion ($533 million) was directed at three carriers – Norwegian, SAS and Wideroe. HalfRead More

85% airlines could go bankrupt before year-end, says experts

The aviation industry, which supports 65.5 million jobs around the world, including 10.5 million people employed at airports and by airlines, and contributes $2.7 trillion in world economic activity, will take three years to return to operational levels seen just before the Covid-19 pandemic broke out, global aviation bodies and leading airlines said. While twoRead More

Norwegian plans relaunch with smaller fleet and fewer destinations from 2021

Norwegian’s shareholders have voted in favor of its plan to convert debt to equity and relaunch operations with a smaller fleet and fewer destinations from 2021. The airline should now be able to access the rest of its NKr3 billion ($288 million) bailout package from Norway’s government, which is conditional upon cutting its debt-to-equity ratio.Read More

United cuts 85% of international flights

United Airlines Holdings Inc. will slash international flights by 85% in April, the most among major US carriers, as the coronavirus outbreak kills demand for air travel. The carrier will also reduce flights across the US and Canada by 42%, and is monitoring changes in local rules and government restrictions before further adjusting its schedule,Read More

Thai carriers temporarily suspend international flights

Thai low-cost carriers have announced temporary suspensions of international services. Thai AirAsia says its suspension of international flights began on 22 March and will end on 25 April, and that the decision was taken “in accordance with travel restrictions being enforced by various governments and relevant health authorities”. Domestic flights will continue. Cirium schedules dataRead More

Lufthansa Group extends repatriation flight schedule until May

Due to the continuing travel restrictions, Lufthansa today decided to extend its repatriation flight schedule, which was originally scheduled to run until 19 April, until 3 May. This also means that all remaining flights of the original flight schedule between 25 April and 3 May will be cancelled. Flights which were planned to operate untilRead More

Air China profits go up by 2.1% in 2019

Lower expenses, coupled with more passengers carried, helped push Air China’s 2019 operating profit slightly higher. It posted a full-year profit of CNY14.6 billion ($2.06 billion) for 2019, an increase of 2.1% compared to the previous year. Group revenue for the year fell marginally — at about 0.4% — to CNY136 billion, led by aRead More

UAE airline asks employees to take voluntary leave amidst coronavirus scare

Emirates airline has asked staff to take voluntary paid and unpaid leave as the effects of the coronavirus across the world ramps up. The Dubai-based carrier halted most flights to China and suspended operations to Iran, the epicenters of the coronavirus. Following Saudi Arabia’s decision to temporarily suspend issuing tourist visas to people in countriesRead More

Wizz Air to start operations during second half of this year

Abu Dhabi Developmental Holding Company is partnering Wizz Air Holdings, the European airline, to establish Wizz Air Abu Dhabi. The low-cost airline is set to launch its operations at Abu Dhabi International Airport in the second-half of this year. This is the second low-cost airline to be announced in Abu Dhabi – Etihad had earlierRead More