In a memo, Delta Air Lines CEO Ed Bastian said stated, he continues to expect the company to achieve a positive cash flow by the coming spring. In a note to employees, Bastian said Delta Air Lines will likely “experience… Read More ›
airlines
Japan’s ruling aims to incentivize green investments
With Japanese Prime Minister Yoshihide Suga strategically placing carbon neutrality at the centre of the country’s economic recovery plan, the country’s ruling party has called for extending tax breaks on low-emission vehicles as well as incentivize green investments, showed a… Read More ›
Pfizer’s positive news on COVID-19 vaccine triggered $2 trillion trades on bourses
According to early data analysis of stock trading, news of a breakthrough in the race to find a vaccine for COVID-19 triggered one of the heaviest trading days since the height of the pandemic crisis with trade worth around $2… Read More ›
Norwegian Air will run out of cash in early 2021: CEO Jacob Schram
While reporting its third quarter results, Norwegian Air, which likes its peers has been ravaged by the coronavirus-induced COVID-19 pandemic which has brought the global travel industry to a standstill, said it is likely to run out of cash in… Read More ›
Holiday season shopping season sees air freight rates going northwards
The coronavirus-induced COVID-19 pandemic is boosting up air freight rates as we head into peak Christmas shopping season. The pandemic, which caused a sharp fall in passenger flights, in tandem with rising demand for e-commerce has set the stage for… Read More ›
Delta Air Lines reaches preliminary deal with pilot union to avoid furloughs
Late on Thursday, Delta Air Lines Inc said, it has reached a preliminary cost-cutting deal with the union that represents its pilots with the deal aiming to prevent furloughs until January 1, 2022. Delta MEC, a unit of the Air Line… Read More ›
Lufthansa hammers out cost cutting deal with pilots, sees recovery in 2021
In a statement, German airline Lufthansa stated, it has formulated an agreement with pilots over a package of short-term measures which will reduce it cash burn and losses induced by the Wuhan Coronavirus pandemic. As per the agreement, in return… Read More ›
Chairman of El Al Israel Airlines, Eli Defes steps down citing undisclosed medical condition
In a statement, Eli Defes, chairman of El Al Israel Airlines stated, he is stepping down with immediate effect due to an undisclosed medical condition. In 2015, Defes had joined El Al’s board and became its chairman in 2017. It… Read More ›
Airlines industry outlines new safety measures with air travel set to resume
In order to mitigate issues surrounding COVID-19, airports and airlines are recommending a layered approach to stop-gap safety measures with air travel set to restart. A single measure on its own will not mitigate all of the risks revolving around… Read More ›
Germany agrees to $9.74 billion rescue package for Lufthansa
In a report on Tuesday, Business Insider stated citing sources familiar with the matter at hand as saying, the German government has agreed to provide Lufthansa with a financial rescue package worth around $9.74 billion (9 billion euros) in return… Read More ›
