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 Knafaim Holdings had been in discussion with the Israel Ministry of Finance for a bailout as they faced significant financial losses due to the lack of travel demand associated with…
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…
Deutsche Lufthansa AG shareholders have agreed to support a bailout package from the German government which will assist the airline group to survive in a post-COVID environment. At the ‘Extraordinary General Meeting’ held on Thursday, the €9 billion ($10.1 billion) package which gives the government a 20% stake and two…
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…
The current crisis that is heavily affecting all carriers around the world could profoundly change the landscape of the airline industry for the years to come. According to the Dutch financial newspaper Financieele Dagblad, Air France and KLM may return to operate as independent carriers. The two airlines merged in…
After the decision by the Italian Government to renationalize Alitalia due to the current crisis caused by the COVID-19 pandemic, a few details are starting to surface concerning the future shape and size of the newly re-formed Italian flag carrier. The first rumors leaked from governmental sources were suggesting a…
The British Airline Pilots’ Association (BALPA) has discounted reports made earlier this week that the U.K. Chancellor (the U.K. Government’s chief financial minister) would only include airlines in any industry bailouts under consideration “as a last resort." BALPA General Secretary Brian Strutton said: “It is unhelpful that correspondence is leaked…
Following last week’s memo to employees entitled “The Survival of British Airways”, the U.K. carrier continues to implement strategies to deal with the continuously changing environment. BA has announced capacity cuts of 75% for their April and May schedules which will have a significant impact on the resources needed to…
Troubled flag carrier Alitalia will become once again a state-owned airline as a result of a new decree signed on Monday by Italian Prime Minister Giuseppe Conte as part of a relief package to support the economy in a country hit hard by the COVID-19 pandemic. Alitalia was supposed to…
Members of the United States Senate have introduced a bill to reinforce aviation safety and oversight particularly with regards to certification, FlightGlobal reports. The bill comes amid the ongoing Boeing 737 MAX scandal, which has left many puzzled as to why the Federal Aviation Administration (FAA) did not vet the…
