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An Air Europa 787-8 in Madrid (Photo: AirlineGeeks | William Derrickson)

IAG Lowers Maximum Price for Air Europa Acquisition

International Airlines Group (IAG) — the parent company of British Airways, Aer Lingus and Iberia, among other carriers — seems to be looking to reduce the price it would pay to acquire Spanish carrier Air Europa, below the value of 1 billion euros ($1.18 billion) at which both carriers had agreed to make the transaction last November when the deal was originally announced. As reported by Spanish tabloid El Confidencial, IAG would be looking to pay between 300 million euros…

Dutch Government Approves Loan Package For KLM

As the coronavirus pandemic is reshaping the commercial aviation industry, airlines are taking all measures necessary to weather the storm and survive this unprecedented crisis. During difficult times like these, more than ever cash is king, so all carriers have launched a series of initiatives to improve their cash position…

Despite Public Bank Loan Proposal, Azul Announces Issuing of $283…

With Brazil's air transport industry quickly recovering to 2019 traffic figures and April's historic lows looking like a small shape in the rearview mirror, airlines are shuffling their strategies to secure the future that comes ahead. On Monday, Azul Linhas Aéreas announced a big step in this direction as it…

Virgin Atlantic Lands £1.2 Billion Rescue Package

Virgin Atlantic has managed to secure its financial future thanks to a £1.2 billion ($1.5 billion) package that will assist the airline to navigate away from the financial turbulence caused by the COVID-19 pandemic, saving the company from collapsing into administration. The news will bring relief to many of its…

El Al Israel Airlines Agrees to Taking Government Assistance

Just days after announcing they would be indefinitely suspending all operations, El Al Israel Airlines agreed to become nationalized. This development is part of a plan regarding a bailout for the airline that has had significant financial struggles due to the COVID-19 pandemic. The Israel-based carrier and its controlling shareholder…

Portugese Government Takes Majority Stake in TAP Air Portugal

Portugal’s government has agreed to pay €55 million ($62 million) to increase its stake in TAP Air Portugal, the national airline, to prevent the carrier from going bankrupt. The government will own a 72.5% stake in the airline, up from the 50% stake it’s held since partially privatizing the airline…

Lufthansa Group Announces Government Support for Financial Aid

German-based Lufthansa Group announced that the German government had approved a large financial stabilization package for the airline group in response to the COVID-19 pandemic. The total package will equate to about 9 billion euros ($9.8 billion) for the operating group. Along with Germany, Lufthansa owns airlines in Austria, Switzerland…

South Africa Budgets More Funds for SAA and SA Express

In a briefing on Wednesday to the Parliament for the South Africa Department of Public Enterprises (DPE), acting Director-General Kgathatso Tlhakudi presented the department’s budget plan for state-owned South African Airways (SAA) and SA Express airlines. South Africa’s government is being asked to set aside R3.8 billion ($212 million) for…

Ryanair Slashes Jobs as Low-Cost Demand Dwindles

Ryanair has announced that over 250 office jobs have been lost due to the COVID-19 pandemic. These jobs have been cut at its offices in Dublin, Madrid, Wroclaw in Poland and Stansted near London, which are due to re-open on June 1. Ryanair staff levels will reduce in four of…

Air France Slated to Receive 7 Billion Euro Bailout Package

The European Union on Monday approved a French state aid of €7 Billion consisting of state loans and state-guaranteed bank loans to aid Air-France in its urgent liquidity in the face of the coronavirus pandemic. The European competition watchdog exercised its commission under Article 107(3)(b) of the Treaty on the…