October 21, 2021 11:16 pm ET
July 7, 2020 5:00 am ET -
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…
July 6, 2020 2:54 pm ET -
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…
June 26, 2020 2:59 am ET -
Lufthansa Shareholders Agree to $10.1 Billion Government Bailout
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)…
May 16, 2020 6:40 pm ET -
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…
April 27, 2020 12:20 am ET -
KLM Could Break-Up With Air France Over State Subsidies
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…