The government of Dubai has offered its backing to Emirates, and will “inject equity into the company” in order to protect it from the impact of the coronavirus pandemic. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, crown prince of Dubai, said the airline was vital to the strategic interests of the United Arab Emirates […]
International Airlines Group has confirmed further cuts to its planned schedule, with only ten per cent of flights now set to operate in April and May. In mid-March, the group – which owns Iberia, British Airways and Aer Lingus – had unveiled plans to cut three quarters of departures in response to the coronavirus pandemic. […]
Ethiopian Airlines has announced temporary schedule adjustments to its UK flight operations. From today, and for a period of four weeks, the airline has paused the four times weekly Manchester operation and reduced its daily flight to Heathrow to three weekly departures. The Heathrow route will operate on Wednesday, Saturday and Sunday. The flights will […]
British Airways is expected to announce it will suspend around 36,000 staff. The airline, which grounded much of its fleet due to the coronavirus crisis, has been negotiating with the Unite union for more than a week. The two sides have reached a broad deal but are yet to sign on some details. The agreement […]
British Airways will suspend all flights to and from London’s Gatwick airport amid a collapse in demand due to the coronavirus. The move follows EasyJet’s suspension of flights after the government advised against all but essential travel. British Airways told staff it was facing a challenging market environment in “unprecedented circumstances”, according to an email […]
British Airways has extended its United States dollar secured revolving credit facility for one year. The move, confirmed by International Airlines Group, will take effect from June 23rd. The amount available under the extended facility is $1.38 billion. Including the extended facility and some smaller additional facilities recently arranged, IAG has total undrawn general and […]
Vietnam Airlines has confirmed it will continue to reduce the frequency of domestic flights. The move is designed to further enhance preventive measures to curb the spread of Covid-19 pandemic. Vietnam has been among the most proactive destinations in tackling the outbreak, with less than 200 recorded cases of coronavirus to date. Until April 15th, […]
Around one third of the global commercial airline fleet is currently in storage as carriers seek to weather the coronavirus pandemic. Nearly 900 jets have been added to the stored inventory during the past day, according to data from analytics expert, Cirium. In total, around 7,500 planes are now idle as schedules continue to be […]
Qantas has completed a new round of debt funding, securing $1.05 billion in additional liquidity to strengthen its position as it manages through the Coronavirus outbreak. This debt has been secured against part of the group’s fleet of unencumbered aircraft, which were bought with cash in recent years. The loan has a tenure of up […]
The UK chancellor has ruled out government help for struggling airlines, at least in the short term. Having previously pledged to work with carriers to overcome the financial difficulties created by the coronavirus pandemic, Rishi Sunak has now advised airlines to find other forms of funding. Demand for tickets has collapsed forcing companies to ground […]
