AerCap posts $2bn net loss as jets remain stranded in Russia May 17, 2022 AerCap has posted a $2bn net loss in the first three months of 2022 as more than 100 of its jets remain stranded in Russia following the invasion of Ukraine. The world’s largest aircraft lessor said today that after sanctions were imposed on Moscow by the West, 113 of its jets and 11 engines remained [...]
DfT pledges £1m to finance world’s first net-zero transatlantic flight May 14, 2022 The Department for Transport (DfT) has pledged £1m to finance the world’s first net-zero flight. Transport secretary Grant Shapps has called on the global aviation industry to work on the project, inviting international airlines to collaborate alongside the UK Government to deliver the demonstrator flight in 2023. “This trailblazing net zero emissions flight, a world [...]
US aviation union calls on Menzies to guarantee workers rights post NAS takeover May 11, 2022 A US-based aviation union has called on services firm Menzies to guarantee that workers’ rights will be respected following a £571m takeover by Kuwaiti rival National Aviation Service (NAS) through subsidiary Agility. The Airport Workers United Campaign of the Service Employees International Union (SEIU) said workers were left in the dark about the deal’s details [...]
Air France-KLM beats quarterly forecasts following boom in travel bookings May 5, 2022 Air France-KLM announced it has beaten its own profit forecasts for the first quarter following a boom in travel bookings. In the three months ended 31 March, the French-Dutch power house posted a €221m EBITDA, a 135 per cent increase on last year’s losses worth €628m. Despite taking a hit as a result of the [...]
Airlines UK boss Tim Alderslade warns aviation’s recruitment problems are here to stay May 3, 2022 The aviation sector’s ongoing difficulties to recruit more staff are here to stay, according to Airlines UK’s chief executive Tim Alderslade. “There’s a huge number of challenges [to overcome in the industry] and labour will be a real issue moving forward, and not just in the short term,” he said today while speaking at Advantage Travel [...]
Fast fashion slammed over cargo plane emissions May 2, 2022 Fast fashion critics have called for more industry regulation after Shein and other retailers have been using planes to deliver their products, often at great environmental cost. According to the data from the CarbonCare emission calculator, a cargo plane used by Shein carries 100 tonnes of cargo, producing around 443 tonnes of CO2 to go [...]
Lloyd’s of London prepares to fight over picking the tab up for $10bn Russian-seized planes May 2, 2022 Lloyd’s of London and aircraft lessors are reportedly going to war over who needs to pick up the tab after more than 400 foreign-leased planes were seized by Moscow following the invasion of Ukraine. Sources told the Telegraph Lloyd’s of London has hired global law firm Clyde & Co to investigate whether insurance claims made [...]
Qantas buys 12 new planes in bid to conquer ‘final frontier’ of 20-hour flights down under from London and New York May 2, 2022 Australia’s national airline Qantas has ordered 12 huge new luxurious planes as it confirmed plans for new long-haul routes from London and New York, to conquer the “final frontier” of aviation. The carrier will launch 20-hour flights on Airbus A350-1000s, complete with wellbeing zones and extra measures for comfort, taking passengers down under from across [...]
Russia considers taking $1.3bn from wealth fund to recapitalise Aeroflot April 20, 2022 Russia is considering taking $1.3bn from its national wealth fund to recapitalise Aeroflot. According to Moscow sources, the wealth fund will buy Aeroflot’s new share issue through an open subscription and spend an additional $690.9m in equity stakes to help other struggling carriers. As a result of the new issue, the Kremlin’s stake will need [...]
End to ‘preighting’: European airlines no longer allowed to pack empty passenger planes with cargo April 20, 2022 Airlines across the European Union are no longer allowed to pack empty passenger planes with cargo, in a further sign that the aviation industry is recovering from the pandemic. The temporary exemption to allow so-called ‘preighting’ – using passenger planes to transport freight – was introduced during the pandemic as passenger flows dried up while [...]