India’s biggest low-cost carrier, IndiGo, announced on May 21 that it had opted to buy approximately 620 new LEAP-1A engines from CFM International to power its massive Airbus A320neo family fleet, which consists of the A320neo, A321neo and A321XLR aircraft. Although the airline did not reveal the value of the deal, the agreement is said […]
Singapore flag carrier Singapore Airlines reported on Wednesday that it had suffered a net loss of 4.3 billion Singapore dollars ($3.23 billion) for the financial year ending in March 2021 as the Covid-19 pandemic continues to wreck international aviation, which the airline relies on given Singapore’s lack of a domestic aviation market. The massive loss […]
After years of financial trouble and being on the verge of bankruptcy dating back since May 2017, Italian national carrier Alitalia was put under emergency administration by the Italian government after the majority of its over 11,000 employees had voted against job and salary cuts as a rescue plan. The situation worsened as the Covid-19 […]
Qantas made an announcement on Thursday, May 20, suggesting that the airline is forecasting to lose at least A$2 billion ($1.54 billion) this financial year and also foresees its total revenue dropping to a big loss at A$16 billion (US$12.4 billion), despite the gradual increase in domestic air travel. The forecasted losses will come as […]
Malaysia Airlines is further extending its longstanding partnership with Air France Industries KLM Engineering & Maintenance (AFI KLM E&M) by signing a component support contract for its Boeing 737 fleet. Under its new long-term contract, AFI KLM E&M is to provide component solutions to Malaysia Airlines, including repair and logistics. The component support solutions are […]
Thai Airways International managed to get its creditors’ approval on May 19 for a proposed restructuring plan that would help the airline refinance its debt in an effort to stay afloat and remain financially viable long-term, Nikkei reported. In order for the seal of approval to be given, the restructuring plan needed a nod from […]
Wadia Group-controlled budget carrier GoAir has filed for an initial public offering to raise 36 billion rupees ($491 million) and reinvented itself as GoFirst, after fifteen years of flying. This move comes as airlines try to boost finances to cope with the continuous disruptions caused by the pandemic waves hitting India. India’s second wave of […]
South African Airways (SAA) is hoping to resume flights in July or August, but the restart date will depend on how the Covid-19 pandemic progresses and whether the airline can resolve a pilot dispute, its chief executive said on Friday. The state-owned airline was put into administration in December 2019 and has not flown commercially […]
Qantas Airways announced on Wednesday that it would be forced to halt any current and planned international flights until at least the end of the year. Australia’s national carrier said that the sudden decision was mainly due to the Covid-19 pandemic and the country’s newly revised anticipated timeline for the completion of the vaccination rollout […]
Cebu Air, the listed operator of budget carrier Cebu Pacific, posted a net loss of P7.3 billion (US$152.6 million) in the first quarter of 2021, as the Philippines struggles to contain COVID-19 infection cases, Business World reports. Cebu Air’s net loss is 516% higher than the US$25.1 million net loss it sustained in the same […]
