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Condor Exits Protective Shield Proceedings as Financially Healthy Company
The German leisure airline has terminated protective shield proceedings and emerges as a healthy and financially sustainable company...
Dec 1, 20202 min read
Qantas to Outsource Ground Handling Operations at 10 Australian Airports, 2,000 Employees Impacted
The company hopes to achieve savings of approximately $100 million annually, as well as $80 million in expenditures over five years for...
Nov 30, 20203 min read
Mesa Air Group Signs New Five Year Contract With American Airlines to Operate 40 CRJ-900s
The new contract replaces the existing agreement which is expiring and will run from January 1, 2021 through December 31, 2025. The...
Nov 24, 20202 min read
Norwegian Air Enters Reorganization Plan With Subsidiaries Under Irish Examinership
After the Norwegian Government refused further financial support for the airline, they have initiated the reorganization process with...
Nov 19, 20202 min read
Virgin Australia Group Exits Administration, Charts New Course for Success
The carrier has exited voluntary administration and the company’s new CEO, Jayne Hrdlicka, has outlined the future direction of the...
Nov 18, 20204 min read
Korean Air Parent Company Hanjin Group to Acquire Asiana Airlines for $1.62 Billion
Hanjin Group KAL and Korean Air agreed to acquire the financially troubled carrier for KRW 1.8 trillion (US $1.62 billion) at a board...
Nov 16, 20202 min read
Singapore Airlines Raises S$850 Million Through Convertible Bond Issue
The airline has raised $$850 million with strong investor support for their convertible bond issue which has been placed with a variety of..
Nov 13, 20202 min read
Emirates Reports First Half 2020 Net Loss of AED 14.1 Billion on 74 Percent Revenue Decline
The Group reported a net loss of AED 14.1 billion (US$ 3.8) billion for H1 compared to a profit of AED 1.2 billion (US$ 320 million)...
Nov 12, 20203 min read
Deutsche Lufthansa AG Appoints Remco Steenbergen as New Chief Financial Officer
Mr. Steenbergen will resume his new role as CFO on January 1, 2020, with a contract through December 31, 2023. The company’s Chairman of...
Nov 11, 20202 min read
Air Arabia Announces Third Quarter Net Loss of AED 44 Million on Revenue of AED 294 Million
The airline served 665,456 guests from all five hubs during the third quarter and reported a turnover of AED 294 million. Air Arabia...
Nov 10, 20202 min read
Norwegian Air Reports Third Quarter Net Loss of NOK 980 Million on 91 Percent Fewer Passengers
The airline carried approximately one million passengers in the third quarter, a 91 percent year-over-year decline, which was an...
Nov 10, 20202 min read
Norwegian Air Faces Uncertain Future as Government Refuses Further Aid; Furloughs 1,600 Employees
The airline expressed profound disappointment on Monday as the Norwegian Government has ruled out further financial report. Norwegian...
Nov 9, 20204 min read
Air Canada Reports Third Quarter Net Loss of $685 Million on 86 Percent Revenue Decline to $757 M
The carrier’s third quarter EBITDA, excluding special items was reported as ($554) million, while operating income was ($785) million...
Nov 9, 20204 min read
Alaska Airlines Chief Executive Brad Tilden Announces Retirement, Will Remain Board Chair
Alaska Air’s Group board announced today that Chief Executive Officer Brad Tilden will retire on March 31, 2021, while continuing to serve..
Nov 9, 20203 min read
Singapore Airlines Reports First Half 2020 Loss of $3.5 Billion on 80.4% Revenue Decline to $1.6 B
During H1 the airline reported a $1.3 billion impairment charge related to fleet restructuring and the removal of 26 older generation...
Nov 6, 20202 min read
Atlas Air Worldwide Reports Third Quarter Net Income of $74.1 Million or $2.78 per Diluted Share
The carrier’s third quarter adjusted EBITDA for the third quarter totaled $196.3 million compared to $95.6 million during Q3 2019...
Nov 5, 20203 min read
Lufthansa Group Reports Third Quarter Net Loss of €2 Billion on 74 Percent Revenue Decline to €2.7 B
The Group’s third quarter adjusted EBIT loss was reported as (€1.3) billion, while the net loss was (€1.97) billion or (€3.80) per share...
Nov 5, 20203 min read
Airfinance Journal Ranks Air Arabia First on List of top 100 Global Airlines
Airfinance Journal evaluated the performance of 100 airlines worldwide using operational and financial parameters such as total revenue...
Nov 2, 20202 min read
Ryanair Reports First Half Loss of €197 Million on 80 Percent Traffic Decline to 17 Million Guests
The airline reported a H1 loss of €197 million compared to an H1 profit of €1.15 billion during the same period last year. Traffic for...
Nov 2, 20203 min read
Air France-KLM Reports Third Quarter Net Loss of €1.7 billion on 67 Percent Revenue Decline to €2.5
The Group reported an EBITDA loss of (€442) million due to cost controls and state aid and an operating result of (€1.05) billion, down...
Oct 30, 20203 min read
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