UK airlines set for jobs crisis on par with collapse of mining in 1980s June 10, 2020 The UK’s aviation sector is on the brink of a jobs crisis as severe as that which devastated the mining industry in the 1980s, a new report has found. According to the New Economics Foundation (NEF), up to 70,000 jobs are under threat as a result of the coronavirus crisis, which has grounded airlines around [...]
Airlines face £84bn loss in ‘worst year in aviation history’ June 9, 2020 Global aviation body the International Air Transport Association (IATA) today said that the coronavirus crisis will see the world’s airlines make record losses of over £$100bn over 2020 and 2021. At a press conference this afternoon, director general Alexandre de Juniac said: “The losses this year will be the biggest in aviation history—over $84bn in [...]
Coronavirus: European airlines continue to tap governments for aid April 28, 2020 European airlines continued to tap their respective governments for state aid in order to survive the coronavirus crisis, which has shut down air travel across the world. German state carrier Lufthansa is still in negotiations with federal authorities over a €9bn loan deal, despite overnight reports that an agreement had been reached. Shares swiftly climbed [...]
Norwegian Air says planes set to remain grounded until April 2021 April 27, 2020 Low-cost carrier Norwegian Air does not expect to begin ramping up its number of flights until next April at the earliest, according to a proposal published ahead of a key stakeholder meeting this week. Unless the airline gets approval for its proposed rescue plan, it warned that it could run out of cash by mid-May. [...]
Airlines call on government to extend furlough scheme beyond June April 27, 2020 The UK’s airlines have written to chancellor Rishi Sunak warning him that carriers could face a “renewed cash crisis” if the coronavirus job retention scheme is not extended beyond June. In a letter, Tim Alderslade, chief executive of sector body Airlines UK, said: “There is a danger that should the CJRS be withdrawn prematurely, carriers [...]
Coronavirus set to cost the world’s airlines up to $314bn April 14, 2020 The coronavirus pandemic will cost global airlines up to $314bn (£249.6bn) in revenues, industry body the International Air Transport Association (IATA) has said. The figure reflects a 55 per cent fall in passenger revenues year-on-year, with air traffic expected to decline by 48 per cent. In March IATA had estimated a hit of $252bn, which [...]
Coronavirus: Virgin Australia to ground all but one domestic flight and seeks state aid April 9, 2020 Embattled Virgin Australia has said it will ground all domestic flights except a single daily trip from Sydney to Melbourne due to coronavirus, and is seeking AU$1.4bn (£707m) in government aid. The severely reduced programme will run through to 15 June at the earliest. It is understood that Virgin is seeking the cash in the [...]
Airlines set to save millions as air traffic control payments deferred April 8, 2020 The UK’s airlines could save tens of millions of pounds a month after European governments took steps to allow them to defer payments for using UK and European airspace for 14 months. The new measures, which were agreed by air traffic body Eurocontrol’s member states, will cover the period between February and May 2020. In [...]
Coronavirus: Global airlines warn that up to 25m jobs at risk April 7, 2020 Aviation industry body the International Air Transport Association has said that up to 25m jobs could be at risk due to the global slump in travel as a result of the coronavirus outbreak. According to IATA chief executive Alexandre de Juniac, worldwide demand has slumped 70 per cent due to the crisis, with the figure [...]
Coronavirus: British Airways owner IAG suspends 90 per cent of flights April 2, 2020 British Airways owner IAG has said it will now suspend 90 per cent of its flights, up from the 75 per cent previously announced, as the airline industry looks to protect itself against the coronavirus outbreak. IAG joins other UK airlines such as Ryanair and Easyjet, who have both suspended all or almost all of [...]