Category: Top Stories

Path cleared for foreign airlines to enter Brazil’s domestic market

Azul ©AirTeamImages

Following Brazil’s lower chamber approval, the Senate has passed legislation which will allow foreign-controlled airlines to operate domestic flights within the country, which is Latin America’s largest sir-travel market. However, as Congress has added a codicil whereby airlines are now banned from charging passengers for their first checked bag, this now means that President Jair Bolsonaro’s signature will be required before the legislation becomes law. The checked-bag restriction has not been welcomed by airlines or the Latin American and Caribbean Air Transport Association transport group as this may restrict opportunities for low-cost airlines and may ultimately see higher fares being Read more

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Three major Chinese Airlines turn to Boeing for 737 MAX compensation

Air China ©AirTeamImages

According to Chinese state media reports, Air China, China Eastern and China Southern, the country’s largest three airlines, have all submitted formal requests to Boeing for compensation as a consequence of the grounding of all 737 MAX jets worldwide. Following the second of two fatal crashes involving the MAX jet which had displayed similar problems to the first, China’s regulator was the first to order the grounding of all Chinese airline-owned 737 MAX jets. Currently China Southern Airlines has 24 grounded 737 MAX jets, while it also has orders for 56 more, though delivery of these will now be delayed Read more

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EC signs landmark aviation agreement with China

Intended to generate growth for European business, foster innovation and enable passengers to profit from safer, cleaner and cheaper flights, in a follow-up to the April 9 EU-China summit the European Commission signed an agreement on civil aviation safety and also a horizontal aviation agreement aimed at strengthening aviation cooperation on Monday May 20. The signing of a bilateral civil aviation agreement (BASA) will support worldwide trade in aircraft and related products. It should reduce costs incurred through the previous need for duplication of evaluation and certification activities for aeronautical products by the civil aviation authorities, while also promoting cooperation Read more

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Niki Lauda, former F1 World champion and founder of Lauda Air, Niki and Laudamotion airlines, has died

Lauda Air ©AirTeamImages

The worlds of Formula 1 and commercial airlines are today mourning the sad passing of Niki Lauda. His family announced today (Tuesday) that he had “passed away peacefully” on Monday, May 20. He was 70. Lauda was FI World Champion three time, in 1975 and 1977 while driving for Ferrari, and again in 1984 while driving for McLaren. His achievement in 1977 was even more remarkable as this followed a horrific accident in the 1976 German Grand prix where he suffered extensive burns and life-threatening damage to his lungs but returned to full-time racing just 40 days after the incident. Read more

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Ryanair’s annual profit slumps 29% to four-year low

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Ryanair has reported its lowest annual profit for four years, warning that earnings could fall further during what CEO Michael O’Leary describes as “attritional fare wars”. Shares closed at €10.30, a drop of 4.6%, having rallied slightly from a 6% drop after reassurance from O’Leary that a couple of years of lower fares and profitability was a reasonable price to pay for consolidation and an increased market share. This is still 40% below its August 2017 high of €19.39 prior to disruptive industrial unrest and fare weakness. “Our strategy would be to keep adding capacity as quickly as we can Read more

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Italian government won’t let Piaggio be broken up despite being in administration

Having been in administration since last year, Italian aircraft maker Piaggio Aerospace will not be broken up as a buyer is sought, according to a statement from Italian government Deputy Prime Minister Luigi Di Maio. The hope is that a buyer will be found for the whole, or one of its two divisions – engines or aircraft – both of which have production and maintenance capabilities. May 15 had been set by Piaggio Aerospace’s extraordinary commissioner for non-binding expressions of interest. According to Reuters, 39 non-binding expressions had been received from potential buyers, 26 of which were for the company Read more

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Lilium unveils on-demand all-electric jet-engine taxi after successful maiden flight

©Lilium eVTOL Jet and founders

Munich, Germany-based Lilium has unveiled its latest all-electric jet-powered five-seat taxi which has the capability and range to enable it to fly up to 300km in just 60 minutes with zero emissions. The Lilium Jet has been developed as part of a revolutionary on-demand air taxi service. The prototype was shown off for the first time on May 16 after its successful maiden flight at its Munich headquarters at 8.03 local time, May 4, 2019. Commenting on the successful first flight, Leandro Bigarella, Head of Flight Test, said: “While a maiden flight is always a moment of truth for a Read more

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Embraer posts fifth straight quarter loss ahead of Boeing deal

A combination of the delivery of fewer planes and a surge in spending ahead of the deal which will see Boeing take an 80 per cent stake in the commercial jets arm of the Brazilian planemaker has resulted in Embraer posting a US$42.5 million loss for the first quarter, 2019. Revenue fell 26 percent to US$281 million in the commercial aviation section as a result of the delivery of only 11 jets as opposed to 14 for the same quarter last year, while revenue for the whole company fell 14.1 per cent. Despite the weak results and a fall of Read more

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Jet Airways’ woes continue as both its CFO and CEO resign

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The day after Jet Airways chief financial officer Amit Agarwal resigned, the grounded Indian low-cost carrier’s chief operating officer, Vinay Dube has also resigned, for what has been stated as “personal reasons”. Agarwal’s resignation was effective from May 13, while Dube’s resignation is effective immediately, as of May 14. Dube joined jet Airways in 2017, having worked at Delta Airlines, Sabre Inc and American Airlines in the U.S., Europe and Asia. “We wish to inform that Vinay Dube, chief executive officer has resigned from services of the company with immediate effect due to personal reasons,” Jet Airways said in a Read more

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Onex agrees friendly takeover of WestJet for CA$5 billion

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Onex Partners, the private equity platform of Toronto-based Onex Corporation, will lead the investment buyout of Canada’s second-largest commercial carrier WestJet for an agreed figure of CA$3.5 billion, plus a further CA$1.5 billion in assumed debt. The announcement today comes two months after Onex first approached the board of WestJet in March. Onex will pay CA$31.00 per share, a 67% premium on Friday’s closing price of CA$18.52 in Toronto. The carrier’s share price had fallen 17% in the past 12 months amid rising fuel costs and soft revenues. In the same period, WestJet’s rival Air Canada had posted a 58% Read more

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