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IAG Cargo Q1 2020 financial results in double-digit fall

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May 7, 2020 IAG Cargo today announced its Q1 2020 results, reporting commercial revenues of €246m over the period from January 1 to March 31, 2020, a decrease of 11.6% on the same period in 2019 at constant currency. Overall yield for the quarter was up 4.8% when compared to the same time last year […]

Dutch airline KLM has enough liquidity until mid-June- finance minister

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May 6, 2020 KLM, the Dutch arm of Air France KLM, has enough liquidity to meet its financial obligations through mid-June, Finance Minister Wopke Hoekstra told a parliamentary committee on Wednesday. The Dutch government is working out the details of an aid package of 2 billion to 4 billion euros ($2.2-4.3 billion) for the airline, […]

Turkish Airlines plans to resume limited flights in June: draft

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May 6, 2020 Turkish Airlines plans a gradual resumption of flights from June and will take four months to return to near full operation, a draft plan seen by Reuters showed, as the economy reopens following a slowdown in coronavirus cases. The flag carrier, which flew to 126 countries before the coronavirus outbreak, was forced […]

United Airlines to offer $2.25 billion bonds in private deal

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May 6, 2020 United Airlines Holdings Inc said it plans to raise $2.25 billion through a bond offering as it grapples with a slump in air travel demand due to government-mandated lockdowns across the world. The No. 3 U.S. airline said it would offer the bonds in two tranches that will mature in 2023 and 2025 […]

Virgin Atlantic retires 747 fleet, closes Gatwick base, to lose more than 3,000 jobs in business reshaping

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May 5, 2020 The coronavirus crisis will have a lasting effect on the aviation industry and Virgin Atlantic isn’t exempt from that. On Tuesday, the carrier announced a slew of changes it will make in order to “reshape and resize” its business to survive the coronavirus crisis and thrive in its aftermath. In a series […]

United Plans More Than 7,000 Pilot and Management Layoffs After Relief Rules Expire

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May 5, 2020 With federal payroll aid rules preventing airlines from making any job or pay cuts before September 30, it’s a safe bet we’ll see the other major U.S. carriers make similar announcements for October. United Airlines Holdings Inc plans to cut at least 3,400 management and administrative positions in October as the coronavirus […]

Air Canada Reports First Quarter 2020 Results

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May 4, 2020 Air Canada today reported first quarter 2020 EBITDA (earnings before interest, taxes, depreciation and amortization) of $71 million compared to first quarter 2019 EBITDA of $583 million.  The airline reported an operating loss of $433 million compared to operating income of $127 million in the first quarter of 2019. At March 31, […]

Air France Finally Secures $7.6 Billion State Rescue Package

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May 4, 2020 The waiting has paid off. The European Commission’s seal of approval will be welcomed by Air France, but raise a few eyebrows among other carriers in particular Ryanair’s Michael O’Leary. The European Union’s competition watchdog on Monday approved French state aid worth $7.66 billion for Air France, saying the support would provide […]

Emirates SkyCargo pulls out all stops to maintain UAE food supplies

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April 4, 2020 Emirates SkyCargo has utilised the cargo capacity on its Boeing 777 freighter and Boeing 777-300ER passenger freighter aircraft to help maintain and replenish food supplies in the UAE during the Covid-19 pandemic. The air cargo carrier has helped import more than 34,000 tonnes of food into the country between January and April […]

Emirates SkyCargo set to connect Kiwis with key global markets

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May 4, 2020 Emirates SkyCargo has launched four weekly cargo services to New Zealand from May 3 2020 to help connect businesses in the country to key trading partners across the globe. The air cargo carrier is working with the Government of New Zealand as part of its International Airfreight Capacity (IAFC) scheme to help […]