IATA updated its analysis of the revenue impact of the COVID-19 pandemic on the global air transport industry. Owing to the severity of travel restrictions and the expected global recession, IATA now estimates that industry passenger revenues could plummet $252 billion or 44% below 2019’s figure. This is in a scenario in which severe travel restrictions last for up to three months, foll...
The previously reported results for the short fiscal year 2019 (1 March - 31 December) are unchanged after completion of the audit. New orders worth USD 800 million will help offset impending market corrections. The general economic situation resulting from the COVID 19 crisis cannot yet be assessed. FACC is therefore adopting a comprehensive package of measures to protect the workforce, safeguard...
FAI has been working around the clock to help evacuate those in need following unprecedented demand from the spread of coronavirus. This includes both medical evacuations of infected patients and repatriation flights of unaffected healthy individuals from all corners of the globe. The company is currently operating at maximum capacity, averaging around six missions per day with its 10-strong...
Fitch Ratings has affirmed PJSC Aeroflot’s long-term issuer default rating at “BB” as part of its annual review of the airline’s credit ratings. The outlook has changed from “stable” to “negative”. Fitch noted that the change in the outlook is due to the impact of COVID-19 on the Company's metrics “in 2020, which is consistent with a sim...
Reference is made to the press release by the Norwegian Government on 19 March 2020 regarding the financial measures to support the Norwegian airline industry and the subsequent stock exchange notice from Norwegian Air Shuttle ASA (the “Company” or “Norwegian”). Norwegian is pleased to announce that two Nordic banks have obtained credit committee approval to provide a gu...
By Mark Briffa, CEO of Air Partner plc There is no doubt that this is an extremely worrying and challenging time for everyone, with far-reaching health, economic and societal ramifications. Governments and NGOs globally are working around-the-clock to limit the spread of COV-19, and a necessary part of this is the enforcement of some travel bans and restrictions. However, as more and more co...
Lufthansa Technik looks back on record year 2019. Revenue rose by 13 percent to EUR 6.9 billion. Adjusted EBIT grew by around eleven percent to EUR 493 million. The extent of the effects of the worldwide aviation crisis affecting Lufthansa Technik cannot yet be concretely foreseen, but the impact is already massive. Dr. Johannes Bussmann, Chairman of the Executive Board, said: &quo...
Hawaiian Airlines, in preparation for a 14-day government quarantine order for all Hawai‘i arrivals set to begin Thursday due to the COVID-19 pandemic, today announced it will maintain its regular flight schedule through Wednesday to allow guests to return home and to accommodate the repatriation of aircraft before finalizing significant reductions of its domestic and international pass...
Longview Aviation Capital Corp., parent company of De Havilland Aircraft of Canada Limited and Viking Air Limited, announced the immediate suspension of manufacturing operations for new production Dash 8-400 aircraft at De Havilland’s Downsview facility in Toronto, and new production Series 400 Twin Otter aircraft at Viking’s facilities in Victoria, BC and Calgary, Alberta. Producti...
In the face of the coronavirus pandemic, MTU Aero Engines AG will temporarily suspend a large proportion of operations across several facilities in Europe. In doing so, the company is taking into account the interruptions in material supply that have begun. At the same time, it is doing its part to protect employees and contain the spread of the virus. In the areas that are required to stay operat...
Airbus SE announces that it expects production and assembly work to partially resume in France and Spain on Monday, 23 March following health and safety checks after the implementation of stringent measures. In addition, the Company is supporting efforts globally to tackle the COVID-19 crisis. Airbus has carried out extensive work in coordination with its social partners to ensure the health an...
Since the COVID-19 outbreak began, Emirates and dnata have been adapting operations in line with regulatory directives as well as travel demand. The airline has aimed to maintain passenger flights for as long as feasible to help travellers return home amidst an increasing number of travel bans, restrictions, and country lockdowns across the world. It continues to maintain vital international ai...
