Easyjet secures $2bn loan as coronavirus pain goes on January 11, 2021 Easyjet has today secured a new $1.9bn (£1.4bn) five year loan as it takes further steps to bolster its finances amid the coronavirus pandemic. In a statement, the carrier said that the loan would “significantly extend and improve easyJet’s debt maturity profile and strengthen easyJet’s balance sheet by increasing the level of available liquidity”. The [...]
FCA approves world’s first air travel revenue hedging system January 11, 2021 The UK’s financial regulators has approved Airbus subsidiary Skytra’s Air Travel Price Indices, a key step in allowing airlines to manage revenue volatility. Through building the world’s largest air ticketing database, the firm has developed a set of regulated benchmarks based on US$ per Revenue Passenger Kilometre ($/RPK). This represents the price of air travel [...]
Ryanair cuts traffic forecasts again as carrier slams ‘brutal lockdowns’ January 7, 2021 Ryanair has cut its traffic forecast for the full financial year to 26m-30m passengers, just a fifth of last year’s number, amid the new coronavirus lockdowns. The Irish carrier said that due to new restrictions in the UK, Ireland, and parts of the EU, it would reduce flights from 21 January. Few, if any, flights [...]
Khan pushes for airport testing, while airport boss wants taxpayers to foot bill January 7, 2021 Sadiq Khan pushes for airport testing, while Southend airport boss wants taxpayers to pay for pre-flight tests
Airline passenger numbers plummet over Christmas period January 5, 2021 The number of passengers flown by Ryanair and Wizz Air fell over 80 per cent for the second consecutive month in December as a dire year for the industry came to and end. The Irish flier carried just 1.9m people last month, down 83 per cent from 11.2m the year before. For the year as [...]
UK and Turkey sign post-Brexit free trade deal December 29, 2020 The UK and Turkey have signed a free trade deal that will secure tariff-free trading arrangements between the two countries after Britain leaves the EU. The continuity deal, signed today by trade secretary Liz Truss, means the existing trade relationship will be maintained after the Brexit transition period ends this week. The two countries also [...]
Ryanair blocks UK investors from buying shares in Brexit move December 29, 2020 Ryanair today confirmed it will block British investors from buying shares after the UK leaves the EU on 1 January. The budget airline said UK nationals will no longer be allowed to purchase ordinary shares — a rule that already applies to all non-EU nationals. While existing shareholders will not be forced to sell their [...]
Liftoff: Boeing’s embattled 737-Max to receive EU flying approval December 21, 2020 The European aviation safety watchdog is expected to give Boeing’s controversial 737-Max aircraft the OK to fly in the New Year. European Aviation Safety Agency (EASA) boss Patrick Ky told the BBC he was “certain” the aircraft was safe to fly. He said his inspectors had “left no stone unturned” in assessing the changes to [...]
Boeing lost 63 more 737 Max orders in November as dire year goes on December 8, 2020 Boeing lost 63 orders for the 737 Max last month, even though the plane was finally cleared to fly again by regulators. In yet another dire month for the US planemaker, orders of all its different models fell by 28 planes in total. A number of airlines, including Virgin Australia and Air Canada, scrapped or [...]
Airbus sells no new planes in November as demand sticks at rock bottom December 7, 2020 Airbus sold no new planes in November, the fourth month in which the aerospace giant has failed to do so this year. New data from the French giant published today showed that gross orders for 2020 had reached 381 as of the end of November. However, with the coronavirus pandemic still hammering the aviation industry [...]