Avianca Holdings and some of its subsidiaries "voluntarily file[d]" for chapter 11 bankruptcy in the Bankruptcy Court of the Southern District of New York in the U.S., the airline announced on May 10. Avianca Holdings currently oversees a number of subsidiaries, the list of which includes Columbian airlines Avianca and Tampa Cargo, Ecuador-based Aerogal and Taca International Airline Group. The company stated that "invoking this process was necessary due to the unpredictable impact of the COVID-19 pandemic" and that "Avianca's…
Last month it was reported that the deal between Boeing and Embraer had fallen apart. It wasn’t a tiny agreement, but rather a huge joint venture worth over $4 billion. The venture was a strategic play by Boeing and Embraer to compete against Airbus in the small aircraft market after…
Facing tremendous challenges posed by the new coronavirus, Delta is suspending flights to ten airports across the country. Delta announced on May 8 that it is cutting service to 10 U.S. secondary airports as part of a previously announced 85% overall reduction in its service schedule. Notably, Delta is halting service…
After several weeks of discussions between companies, agents of the federal government and private banks, an agreement surrounding a bailout for airlines in Brazil is set to be closed by the end of next week, according to Brazil Journal, a local economic news website. The COVID-19 crisis fell severely over…
Earlier this week Airbus announced that it, along with California-based biotechnology and artificial intelligence company Koniku Inc., has made a “significant step” forward in the development of a "disruptive biotechnology solution" for aircraft and airport security operations by extending research to include biological hazard detection capabilities. The two companies originally…
The airline industry has ailed in pain for the last several months because of a virtually unprecedented downturn in travel demand due to the COVID-19 pandemic. Airlines across the globe have been reporting multi-billion dollar losses and load factors in the single digits. This week, though, a new trend emerged.…
Mitsubishi Heavy Industries and Bombardier announced on Thursday that they will close their deal for the CRJ aircraft series on June 1. Bombardier is selling the line to Mitsubishi for $500 million whilst Mitsubishi will assume liabilities worth $200 million. Bombardier will maintain CRJ production until the aircraft’s backlog runs…
Lufthansa, Eurowings and Swiss Air Lines will restart a number of services to domestic and European destinations from June after seeing a growing interest in air travel by its passengers. The Lufthansa Group, the parent company of those three airlines in addition to numerous others, will bring 80 aircraft back…
International Airlines Group (IAG), the parent company of British Airways, has announced a first-quarter (Q1) loss for 2020 of €535 million ($579 million). This compares with an operating profit of €135 million ($146 million) for the same period last year. Unsurprisingly the novel coronavirus (COVID-19) impacted the consortium’s operations for…
Airbus has announced that it has made a step forward in co-developing a solution for air travel security operations. In partnership with Koniku Inc., the European Aerospace consortium has begun researching into the capability to detect biological hazards, as well as chemical and explosive threats, on an aircraft or in…
