Budget carrier AirAsia Berhad has agreed fresh funding as it seeks to navigate its way through the Covid-19 crisis. The Kuala Lumpur-based airline tells Cirium in a statement that it is unable to disclose the lenders or the amount being made available....
Korean Air is looking to raise additional cash, seeking a government subsidy from the state-run Korea Development Bank (KDB) and separately, from the sale of land in downtown Seoul. “We cannot confirm the exact figures as we are still in...
Cathay Pacific Group will cut 8,500 jobs, in a HK$2.2 billion ($284 million) restructuring exercise that will also see the Cathay Dragon brand cease operations effective immediately. As part of restructuring efforts, the group will eliminate 8,500 positions, or about...
AirAsia Group carriers are seeking cash and eyeing tough restructuring measures as they grapple with the effects of the Covid-19 pandemic. The group’s low-cost long-haul arm, AirAsia X has “run out of money” and needs fresh capital, newly appointed deputy...
India’s Jet Airways could be flying again in as little as four to six months after its creditors approved a bid from entrepreneur Murari Lal Jalan and asset management firm Kalrock. “The expectation is that in the next four to...
Grupo Aeromexico, the parent company of Mexico’s legacy carrier, Aeromexico, reported a sharp decline in year-on-year revenue and a net loss for the third quarter as the coronavirus clipped the airline’s operations and bankruptcy proceedings continue in a US court....
Boeing’s plan to shift all 787 production to South Carolina will indeed save cash, but savings will be a relative small percent of the programme’s total expense, financial analyst say. Boeing’s plan to shift all 787 production to South Carolina...
Boeing and the US Navy plan to co-develop a supersonic land and sea strike missile to be carried aboard the F/A-18 Super Hornet fighter. Boeing and the US Navy (USN) plan to co-develop a supersonic land and sea strike missile...
Israeli and United Arab Emirates government ministers have signed an air services agreement enabling airline flights between the two nations. The agreement was one of four pacts formalised at a trilateral summit, hosted by Israeli prime minister Benjamin Netanyahu, at...
The US Marine Corps has officially retired the Bell AH-1W Super Cobra attack helicopter from its fleet after more than 34 years of service. The US Marine Corps (USMC) has officially retired the Bell AH-1W Super Cobra attack helicopter from...