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, […]
easyJet has grounded it’s entire fleet of aircraft and also said it is not able to give a date when they will take to the air again, blaming the current coronavirus pandemic. A statement on the easyJet corporate website said: As a result of the unprecedented travel restrictions imposed by governments in response to the […]
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 […]
All Korean Air executives will forgo part of their salaries in response to the worsening business environment due to the Covid-19 virus outbreak. Korean Air announced that salaries of its executive vice presidents and above will be reduced by 50 per cent senior vice presidents by 40 per cent, and managing vice presidents by 30 […]
The VS698 from London Heathrow for New York JFK on 22nd March created history for the airline as it departed with two pilots, one cabin crew member and a hold filled with 12490 kilograms of pharmaceutical and medical supplies. Although the emergence of Covid-19 has led to a decrease in passengers travelling, demand to transport […]
Wizz Air has grounded around 85 per cent of its fleet and mooted the possibility of a complete suspension of services in its latest operational update. While capacity at the low-cost carrier fell by only 30 per cent year-on-year in March, much larger cuts are expected next month. The company continues to operate 15 per […]
