Finance and economy
1,657 news found
AirlinesNew Iberia's president: "Sacrifices will be needed"
Javier Sanchez-Prieto is however confident about recovery
"And tomorrow, can you imagine?" Slogan of carrier Iberia is apt as never before to describe the statements of the future president and CEO of the Spanish national airline. Javier Sanchez-Prieto answered... more
AirlinesAlitalia (2). State Aid: EC approves Italian support
To compensate carrier for damages due to outbreak
The European Commission (EC) has found Italian €199.45 million support in favour of Alitalia to be in line with EU State aid rules. The measure aims at compensating the airline for the damages suffered d... more
AirlinesAlitalia, Brussels approves € 200 million State aid
It's the economic support to compensate coronavirus' damages
Dialogue with Brussels is not simple, but in the last few hours an important opening arrived. Alitalia must convince the European Union with its new industrial plan, in the meantime, however, Margrethe... more
Civil aviationAtlantia: establishment of new company
To acquire assets resulting from spin-off of Autostrade per l'Italia
Following the decisions taken at the Board meeting of 4 August, yesterday’s meeting of Atlantia’s Board of Directors has decided to proceed with the establishment of a company to acquire the assets res... more
AirlinesVirgin Atlantic ready to lay off another thousand employees
Carrier's rescue plan has just been approved
Unfortunately, the bailout did not overshadow the layoffs: airline Virgin Atlantic has just received the green light from the High Court of London regarding the 1.2 billion pounds guaranteed last week... more
AirlinesEthiopian Airlines interested in saving South African Airways
African company has been in bankrupt for months
South African Airways is experiencing hectic hours and IT is looking for a business partner who can guarantee its operational future. South African carrier filed for bankruptcy several months ago, but... more
AirlinesUnited Airlines' never-ending crisis: more than 16,000 layoffs
Carrier informed the staff by email
Over 16 thousand fewer jobs: this is the employment scenario that is taking shape for the American carrier United Airlines, struggling with the crisis triggered by the coronavirus and intending to lay... more
AerospaceCovid-19. e-Geos will develop a solution to monitor the economic recovery
The company has won a contract with the European Space Agency
The big data generated by satellite images, information on road traffic, pollution and telephone traffic will be analysed more
AirlinesPlanes. Will the old national airline of Ecuador reborn?
Carrier's name should be Ecuatoriana Airlines
Empresa Ecuatoriana de Aviación, better known as Ecuatoriana, was Ecuador's national airline. Founded in 1957 and active until 2006, it could have as its new commercial slogan the title of a Stephen... more
AirlinesPlanes and carriers, David Sapir could rescue El Al
Russian-Israeli businessman made his offer
David Sapir. This is the name of the possible "savior" of carrier El Al Israel Airlines: it is a Russian-Israeli businessman who came out in the last few hours with an offer of 51 million dollars for the... more
AirlinesAirline catering crisis, the British Airways case
Layoffs linked to Covid also concern this sector
More than two thousand employees who have now been reduced to just 300: not even the air transport catering situation is rosy and obviously Covid-19 has heavily influenced this downsizing. The most worrying... more
AirlinesAirports, Aer Lingus ready to leave Ireland
Local media talk insistently about the disengagement from Shannon's current base
“Irish sky is an ocean of clouds and light”: not even this poetic phrase by Italian singer Fiorella Mannoia could lead to a rethinking of the airline Aer Lingus on the choice of disengagement from the... more
AirlinesPlanes. Dubai, € 1.6 billion to support Emirates
This liquidity injection was learned from a bond prospectus
Emirates, flagship airline of the Arab Emirate of Dubai, needed a breath of fresh air and certainly not for the typical climate of its reference country. In last few hours, local government decided to... more
AirlinesAir India, government aims at privatization by the end of 2020
Asian airline is considered a cause for concern
Hope is the last to die and this is also what Hardeep Singh Puri, Indian Civil Aviation Minister thinks. Asian country is facing, among various urgencies, that of Air India, national carrier at the center... more
AirlinesAircraft and carriers, Avianca saved thanks to maxi-loan
Colombian government intervened in the last few hours
Bailout in extremis. Despite some perplexity and hesitation, Colombian Government decided to save the national airline Avianca with a loan of 370 million dollars. The petition presented by the carrier... more
AirlinesUnited Airlines will lay off nearly three thousand pilots
Unions on a war footing after announcement
Almost three thousand layoffs: this is the dramatic and inevitable decision that United Airlines is about to take. The Chicago-based company is at the center of journalistic insights today, on Friday August... more
AirlinesAirplanes and carriers, 1/2 billion losses for Norwegian Air Shuttle
Covid-19 had a heavy impact in the first half
“Isn't good Norwegian wood?”: The Beatles wondered, humming the lines of the song “Norwegian wood”. For the low-cost carrier Norwegian Air Shuttle, instead, the situation is not good at all, as conf... more
AirlinesRyanair appeals against Tap Air Portugal rescue
Flag carrier's aid was not welcome
Ireland against Portugal or rather Ryanair against Tap. Low-cost airline has openly contested the rescue plan guaranteed by Lisbon for Tap Air Portugal, the Lusitanian national airline. Aid amounts to... more
Finance and economyRolls-Royce: 2020 half year results
Decisive actions in response to COVID-19
Rolls-Royce unveiled today the 2020 half year results. Decisive actions in response to COVID-19 Significant H1 impact from COVID-19; timing and shape of industry recovery remains uncertain Successful ex... more
AirlinesPlanes and carriers, Lufthansa will not accept other State aids
Forecasts for September and October remain negative
Can the crisis triggered by the coronavirus be tackled without financial support? Air carrier Lufthansa would like to answer yes to this question or at least it is sure to be able to overcome the difficult... more
AirlinesAlitalia, divorce from Delta Airlines is closer
Lufthansa continues to be the preferred partner
Italian divorce: marriage between Alitalia and carrier Delta Airlines does not have to be done, at least according to what was reported this morning by “Milano Finanza”. Financial partnership for the fut... more
AirlinesAir France, voluntary exit for 365 pilots
Airline will guarantee 13 months' salary
“Voluntary exit” and thirteen months' salary: these are the terms of the agreement between Air France and trade unions, as announced last June. Employment plan is about to start, as reported by Fre... more
AirlinesThe corona crisis has sharply weakened Avinor's results
Grants from the Norwegian government ensures continued operation
The demand for national and international flights is greatly reduced due to the measures to limit the spread of the Covid-19 infection. The airlines have adjusted route production and, like Avinor, implemented... more
AirlinesVirgin Atlantic creditors agree to bailout
London High Court is due to be pronounced on 2 September
The long-awaited agreement that airline Virgin Atlantic was willing to better understand what its future will be finally arrived. Creditors accepted the rescue plan of Richard Branson's company, an... more
AirlinesAmerican Airlines, 19,000 layoffs since 1 October
It is 14% of the airline's workforce
Covid-19 does not look anyone in the face and even in the aviation sector it does not give discounts to companies, large or small. The main consequence of the health emergency in this sector is a lower... more
AirlinesPlanes. Air India bailout, new extension for offers
Sale of the airline's shares began in January
March, April, June, August and now also October: for Air India the fifth consecutive postponement has arrived as regards the deadline for the presentation of expressions of interest in the flag carrier... more
AirlinesCOVID-19. Qantas and Jetstar ground handling services
Initiatives affecting its operations at airports across Australia
As part of its COVID recovery plan, the Qantas Group has today informed its people and relevant unions of initiatives affecting its ground handling operations at airports across Australia.Qantas and Jetstar... more
AirlinesSAS: 3Q2020 results
Continued negative impact of COVID-19 -ATTACHMENT
SAS announced today the results in the 3Q2020.The highlights are: May 2020–July 2020Revenue: MSEK 2,507 (13,401)Income before tax (EBT): MSEK -2,071 (1,490)Income before tax and items affecting comparability: MS... more
AirlinesVirgin Atlantic's latest negotiations with creditors
Judgment on the rescue plan is awaited
Negotiations of the carrier Virgin Atlantic with its creditors are in advanced phase. As it turned out at the beginning of this August, British company could run out of liquidity by the end of September... more
AirlinesBusiness air travel crisis: 34 bankruptcies in 2020
Troubled companies are very numerous
Business is business, but air travel to carry it out is now impossible. The alarming situation emerged from the in-depth examination by various economic analysts, according to which the tourism crisis... more