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An Austrian A320 in special colors (Photo: Ian McMurtry)

Austrian Airlines Takes Financial Recovery Package

As the list of airlines that have received government-backed financial support grows during the COVID-19 pandemic, Austrian Airlines has announced that it will be the newest member of this group. In a press conference, the Vienna-based carrier announced that they would receive a total of 600 million euros ($677 million) in financial aid. This aid package includes money from the Austrian government and Austrian’s parent company, the Lufthansa Group. The Austrian government issued 150 million euros in direct state aid,…

Ethiopian Airlines Records Strong Half-Year Profit

Though unaudited, Ethiopian Airlines (Ethiopian) posted strong half-year financial returns in the current fiscal year with Public Enterprises Agency, reporting a $260 million in profit for the 2019-2020 year. $2.1 billion recorded in revenues made it the second most profitable state-owned corporation in Ethiopia. The airline also foresees a gross…

Caribbean Airline LIAT to Continue Flying Despite Reports

Caribbean regional airline, LIAT, has insisted that it will continue operations, despite local media reports that the airline is on the verge of collapse. The airline’s CEO has rebuffed claims from media in one of the carrier's home countries of Barbados, that the airline was about to run out of…

Aerolineas Argentinas Takes a Big Hit in 2018 Financials

Last week, Aerolineas Argentinas and its domestic sister company, Austral, presented its 2018 results with some worrying numbers but also with a ray of light regarding its operations for 2019. Together, both companies recorded a loss of $489 million USD. Compared to 2017, revenues remained practically constant, accompanying inflation, but…

Brexit Uncertainty Hits European Aviation as easyJet Reports Record Loss…

U.K. low-cost carrier easyJet has announced a record $352 million headline loss before tax for the first six months of its financial year. According to the airline’s chief executive officer, Johan Lundgren, the half-yearly result is “in line with expectations” as the reporting period encompasses the traditionally off-peak northern winter…

WOW air Returns Leased Aircraft Amid Financial Woes, Leaves Icelandair…

Icelandic ultra-low-cost carrier WOW air has returned four aircraft to lessors with two Airbus A330s and two Airbus A320 family aircraft departing Reykjavik earlier yesterday for storage, beginning the process of returning to their lessors. The move comes as a letter to bondholders from the airline's CEO and Founder Skuli Mogensen…

Shake Up at Alaska Airlines Causes Airline to Layoff Employees

Seattle-based Alaska Airlines is reportedly going to cut 100 jobs and is looking at layoffs. Employees were notified via an email from Andy Scheider, Vice President and head of human resources for the airline. “We need to make some difficult, but necessary, management reductions to more efficiently support our frontline…

South African Airways Posts Seventh Straight Loss, Shows Uncertain Future

South African Airways (SAA) is facing an uncertain future after reporting its seventh straight loss for the latest fiscal year 2017-18. The 5.7 billion rand (445 million dollars) loss, a figure more than double that expected, is the largest since the airline reported a 6.1 billion rand (476 million dollars) loss…