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Have you seen our PRO newsletter? For the source of each article, search functionality, a categorized format, and basic aircraft values:
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AerCap Holdings (Ireland) reports 1Q 2020 net income of US$276.8 million, approximately $11 billion sources of liquidity, and over $28 billion of unencumbered assets. Total lease revenue was flat at $1.1 billion.
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AerCap (Ireland) expects to incur future delays on its scheduled B737 MAX deliveries. Certain of its B737 MAX leases have now been cancelled, and it expects additional leases to be cancelled in the future. AerCap holds the right to cancel its corresponding orders for delivery of those aircraft.
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Africa World Airlines (Ghana) is calling for additional support measures from the government. The carrier wants the state to abolish taxes on the importation of aircraft and its spare parts.
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African Express Airways (Kenya) EMB120, serial 120078, was shot down by a missile over Bardale. The chartered plane had six onboard, who all were killed.
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Air Austral (Reunion) has converted a B777 passenger plane for the transport of freight as it looks to mitigate the pandemic.
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Air Austral (Reunion) reports the continued suspension of Mayotte – Paris commercial flights until 31 May 2020 due to travel restrictions.
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Air Burkina wants to accelerate its recovery plan and is in talks with African Global Development (US) to secure capital to cover US$23 million in debts. New aircraft, including an A220, are said to be part of the deal.
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Air Canada has approved a shareholder rights plan to renew its existing rights plan and not being adopted in response to any specific proposal to acquire control of the airline.
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Air China plans to resume Beijing Capital – Madrid – Tianjin service in May 2020.
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Air Partner (UK) anticipates fiscal 1Q underlying profit before tax of US$7.4 million for period beginning 01 February 2020. Normalized cash in the bank was $16.1 million at April end.
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Alaska Air Group (US) reports 1Q 2020 net loss of US$232 million, with total operating revenues down 13% to $1.6 billion. Alaska held $2.1 billion in unrestricted cash and marketable securities at period end.
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Avion Express (Lithuania) announces that Dainius Staniulis was appointed VP Commercial as of 01 May 2020. He was previously the Commercial Manager.
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Cebu Pacific Air (Philippines) reports March 2020 passengers down 16.5% to 4.4 million, with PLF down 2.9 points to 81.3%, RPKs down 20.7%, and ASKs down 18.4%.
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Comair (South Africa) will enter business rescue after the crisis disrupted the implementation of a turnaround plan. The carrier reported a loss of US$30.1 million for 1H fiscal 2020.
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Condor (Germany) has begun operating “converted” versions of its B767-300ERs. Condor has already converted four B767-300ERs, and plans to modify ten more.
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Corsair International (France) may obtain financial assistance from the state, provided that its shareholders participate in the effort.
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Croatia Airlines has suspended plans to launch seasonal flights from Zagreb to Sofia and Podgorica in 2020. The full domestic network is expected to restart by 18 May 2020.
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DHL (Germany) took delivery of one B737-800F, serial 30498, operated by iAero Airways (US).
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Heroux-Devtek (Canada) announced restructuring initiatives driven by lower production rates in the commercial aerospace market due to the ongoing pandemic. These initiatives will result in a 10% reduction of the total workforce and will be closing its plant that was formerly known as Alta Precision.
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IndiGo (India) has further suspended the operation of all its scheduled commercial international and domestic flights until 17 May 2020, due to government travel restrictions.
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Jazeera Airways (Kuwait) foresees a list of potential new long-haul destinations in the coming years as it takes delivery of A320neos. 16 are expected by late 2020 and there could be 23 by 2022.
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Juneyao Air (China) will spend no more than US$14.1 million to repurchase company shares within 12 months, as part of employee stock ownership plans.
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LATAM Colombia asks the government to grant it loans with a grace period, as 100% of its aircraft in the country are grounded.
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Lufthansa Technik (Germany) new technical and engineering services for temporary operational changes from passenger to cargo aircraft have met with great interest in the aviation market. A highlight is the support of the operational change of a first A380 of an undisclosed customer.
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Lufthansa (Germany) agreed to use net retained profits for the 2019 financial year of US$325 million in full to transfer them to other revenue reserves and not to distribute them as a dividend. Shareholders also approved the new authorization to issue convertible bonds, bonds with warrants, profit participation rights and/or participating bonds.
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Lufthansa (Germany) is not planning to buy rivals weakened by the crisis, Chief Executive Carsten Spohr told shareholders at the company’s virtual annual general meeting.
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Nepal Airlines has asked the government for US$33.5 million to buy new STOL aircraft, as the Chinese planes in its domestic fleet remain idle. Executive chairman Sushil Ghimire has asked the Finance Ministry to arrange the funds.
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Norwegian shareholder and former CEO Bjorn Kjos is mulling injecting capital in the airline as part of the private placement, now that creditors agreed on the recovery plan.
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Qantas Group (Australia) has secured a further US$352 million in debt funding against three of its wholly-owned B787-9s. Net debt is now within the middle of the target range, at $3.7 billion. The Group expects to reach a net cash burn rate of $25.6 million per week by the end of June 2020. Total short-term liquidity stands at $2.2 billion, including a $640 million undrawn facility.
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Qantas Group (Australia) will now extend existing domestic and Trans-Tasman flight cancellations beyond end-May 2020 through to the end of June 2020. International flight cancellations will be extended through to end-July 2020.
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Qantas (Australia) has halted its plans for non-stop flights to London, Paris and New York due to uncertainty over demand in a post-coronavirus world. The A350-1000 order is included in those plans.
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Ryanair Group (Ireland) reports April 2020 passengers down 99.6% to 0.04 million.
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Ryanair Holdings (Ireland) asked EU judges to cancel its approval of Sweden’s US$494 million loan guarantees for airlines, the first of several potential lawsuits targeting European governments’ efforts to rescue selected airlines hit by a collapse in air traffic.
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SAS (Sweden) has signed a US$336 million three-year revolving credit facility agreement, 90% guaranteed by Sweden and Denmark’s governments.
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United Airlines (US) labor union says it is moving towards a suit charging that management illegally plans to furlough workers on 24 May 2020 after accepting a CARES Act grant that forbids furloughs before 01 October 2020.
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United Airlines (US) plans to cut at least 3,400 management and administrative positions in October 2020 as the pandemic crushes air travel demand, and has told pilots to brace for changes as well.
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United Airlines (US) will stop operating all B757s and B767-400 and only operate some B767-300s, while the B787 becomes the “workhorse” of the international fleet.
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Vietnam Airlines plans to offer Ho Chi Minh City – Hangzhou service on 02 July 2020 with A321.
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Virgin Atlantic (UK) has announced plans to reshape and resize its business. It will be moving its flying program from London Gatwick to London Heathrow, with the intention of retaining its slots at Gatwick. The carrier will also no longer use all of its seven B747-400s, with four A330-200s retiring in early 2022. A planned reduction of 3,150 jobs across all functions is included. The airline continues to explore all available options to obtain additional external funding.
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Willis Lease Finance (US) reports 1Q 2020 net income down 79.5% to US$4.2 million and total revenues down 21.4% to $81.6 million. As of 31 March 2020, the Company’s $1.698 billion equipment held for operating lease portfolio consisted of 260 engines, 10 aircraft and 11 other leased assets.
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Wizz Air (Hungary) reports April 2020 passengers down 97.6% to 78,389, with LF down 17.3 points to 74.7%, ASKs down 96.8%, and RPKs down 97.3%.
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Croatian government plans to assist Croatia Airlines in overcoming the financial fallout of the ongoing coronavirus pandemic. After that, we will resume the process of seeking out a strategic partner.
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Spain’s transport ministry is seeking to help airlines tap bank state-backed loans but more help may be needed.
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Thailand’s government is ready to back a rescue package for Thai Airways International, but it will entail a full restructuring and there will be no second chances, says the prime minister.
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United States called on countries to deny overflight rights to Mahan Air (Iran)] under US sanctions, which he said recently delivered cargoes of “unknown support” to the Venezuelan government.
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Available assets from  |
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APS500-C14
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SP-E0214273 |
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