Category: Top Stories

Heathrow to get third runway as Supreme Court overrules Court of Appeal

London Heathrow Airport ©AirTeamImages

The controversial third runway at London’s Heathrow Airport has been given the go-ahead by the U.K.’s highest court, the Supreme Court. It has overturned a previous ruling by the Court of Appeal which had struck down an earlier approval for the runway on the grounds that the U.K. government had ignored climate change commitments when the runway was approved back in 2018. The Supreme Court has ruled that the previous Conservative government had “no obligation” to consider the Paris climate agreement when it gave the green light to the extra runway. Climate activist group Greenpeace U.K. has maintained a high Read more

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China Airlines to increase freight capacity and enter new markets with additional 777 Freighter

China Airlines takes delivery of new 777 Freighter ©Boeing

China Airlines has unveiled the first of six Boeing 777 Freighters, officially becoming the 20th operator of the twin-aisle freighter. The 777 Freighter joins the airline amid growing demand for dedicated freighters as operators grapple with the impacts from the COVID-19 pandemic. An operator of an all-Boeing freighter fleet, China Airlines debuted its new 777 Freighter during a ceremony in Taipei. China Airlines aims to increase its cargo capacity by 15% in 2021 and is planning to launch the 777 Freighter on routes connecting Taipei with North America — a key market with strong demand and escalating yields. The airline Read more

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Swissport Australia appointed by Qantas for ground services at Sydney, Melbourne and Canberra

©Swissport

Subject to consultation and finalization of contracts, Swissport Australia has been appointed as preferred operating partner by Qantas at Sydney, Melbourne and Canberra airports. The five-year agreement was reached after a rigorous tender process and will cover up to 70,000 flights per year. This follows on from Swissport’s expanded contract with Qantas Group’s low-cost carrier Jetstar which was chosen in September as preferred ramp services provider for Jetstar’s operations in Sydney, Cairns and Avalon, in September. “We are proud to be trusted by the Qantas Group with their ground operations at Australia’s two busiest airports, in addition to the nation’s Read more

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Rolls-Royce sets ball rolling for 2021 disposal of ITP Aero

©Rolls-Royce

As part of its £2 billion disposal plan announced in August, Rolls-Royce has announced that it intends to dispose of Industria de Turbo Propulsores (ITP Aero) which has seen a continued negative impact on trading owing to the challenging civil aerospace market. However, defense, which represents 25% of ITP Aero volumes, benefited from the Eurofighter order from the German Airforce for 56 EJ200 engines. The sale of the Spanish aero engine manufacturing subsidiary of Rolls-Royce is expected to take place in the first half of 2021. “The first half of next year we’ll see as engaging with the buyer universe Read more

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Pandemic-impacted TUI posts annual loss of €3.0 billion

TUI ©AirTeamImages

Only days after TUI, the Anglo-German multinational travel and tourism company headquartered in Hanover, Germany secured a third round of emergency funding for €1. 8 billion, it has posted an annual loss of €3.0 billion as a result of the effect of the COVID-19 pandemic on the holiday industry sector. TUI had previously secured state loans totaling €3.0 billion. TUI has confirmed that it intends to increase its annual cost-cutting measures to €400 million from the previous target of €300 million. “The rapid measures to cut costs and secure liquidity are important for the Group. They are a stable foundation Read more

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Britain looks to renegotiate trade deal with U.S. by dropping Airbus-Boeing retaliatory tariffs

With the U.K. leaving Europe on January 1, 2021, Liz Truss, the U.K. Trade Secretary, is looking to negotiate an independent deal with the U.S over trade tariffs the U.S. imposed on Europe (including the U.K.) after the World Trade Organization (WTO) gave the go ahead for penalties to be applied after it was revealed that Airbus, Boeing’s principal rival, had been in receipt of financial aid at favorable terms which broke international regulations. In addition, citing national security issues, a fact that is hotly disputed in its accuracy (Britain’s trade department says: “any claim that U.K. steel and aluminum Read more

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Veritas Capital to acquire Northrop Grumman’s federal IT and Mission support business

Veritas Capital and Northrop Grumman Corporation have announced that Peraton, an affiliate of Veritas Capital, has signed a definitive agreement to acquire Northrop Grumman’s federal IT and mission support services business for US$3.4 billion in cash. The transaction is expected to close in the first half of 2021, subject to regulatory approvals and customary closing conditions. For 2020 the Northrop Grumman business, in aggregate, is expected to generate revenue of approximately US$2.3 billion. Northrop Grumman expects to use the sale proceeds primarily for share repurchases, to offset dilution from the transaction, and for debt retirement. On closing, Veritas expects to Read more

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IATA confirms air cargo continued to recover in October, but at a slower pace

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The International Air Transport Association (IATA) has released data for the month of October which reveals that demand for air freight cargo continues, though at a slower rate of recovery than was seen in September. Figures remain appreciably below those for October 2019. Global demand, measured in cargo tonne-kilometers (CTKs*), was 6.2% below previous-year levels in October (-7.5% for international operations). That is an improvement from the 7.8% year-on-year drop recorded in September. However, the pace of recovery in October was slower than in September with month-on-month demand growing 4.1% (1.1% for international.) Global capacity, measured in available cargo tonne-kilometers Read more

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Lufthansa will have shed 27,000 jobs by year end – further cuts expected in 2021

©Lufthansa

According to German newspaper Bild am Sonntag, Lufthansa, along with its subsidiaries Eurowings, Swiss, Austrian and Brussels Airlines will have cut its workforce by 27,000 by the end of 2020 to help mitigate the catastrophic effect of the COVID-19 pandemic on air travel. 20,000 of those jobs will employees based outside Germany, while approximately 7,500 staff will no longer be under the group’s umbrella when its catering unit, LSG, is sold. The newspaper further reports that Germany’s flagship carrier will shed a further 10,000 jobs in 2021 as it does not anticipate passenger numbers will recover to pre-pandemic levels until Read more

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Ryanair to acquire 75 new 737 MAXs in all but name, and at a “modest discount”

©Ryanair

Ryanair, Europe’s largest low-cost carrier, is to increase its fleet of 737 MAX jets after placing a new order for 75 of the beleaguered jets at what has been described as a “modest discount” from the list price of US$22 billion. At a news conference in Washington to announce the deal, Ryanair chief executive Michael O’Leary described the 737 Max as “a fabulous aircraft”. Boeing’s chief executive, David Calhoun, said it was “the beginning of the fulfilment of a more robust order book”. However, when announcing the deal, O’Leary’ would only refer to the 737 MAX as the “737 8200”. Read more

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