Lufthansa has bolstered its liquidity by placing a €600 million ($712 million) convertible bond. The German airline group says the transaction was more than six times oversubscribed. The bonds, which have an annual coupon of 2%, are redeemable in November...
Scandinavian budget carrier Norwegian has today warned that it faces a “significant risk” of insolvency, as it revealed a third-quarter net loss of NKr980 million ($108 million). Still reeling from the Norwegian government’s 9 November announcement that it would not provide any more financial...
Russian airframer Irkut has rolled out the first MC-21 equipped with domestically-built Aviadvigatel PD-14 powerplants. The variant, designated the MC-21-310, is the alternative to the -300 which features Pratt & Whitney PW1400G engines. Irkut has yet to fix a date...
Management at German leisure carrier TUIfly and pilot union Vereinigung Cockpit are blaming each other for a breakdown in talks about restructuring measures amid the air transport crisis. Management at German leisure carrier TUIfly and pilot union Vereinigung Cockpit are blaming each other for...
In October, Boeing lost another 12 orders for the 737 and received no new commitments for any commercial aircraft type, while deliveries inched up to 13 jets. In October, Boeing lost another 12 orders for the 737 and received no...
Wizz Air chief executive Jozsef Varadi has agreed to lead the central European budget operator indefinitely. In a 10 November stock-exchange notice, Wizz says it has agreed a new service contract with Varadi. Source: BillyPix “The contract term is indefinite and...
Intra-European air travel is likely to see “some degree of normality” in summer 2021 as a result of positive vaccine developments, according to Ryanair group chief executive Michael O’Leary. Intra-European air travel is likely to see “some degree of normality”...
Five new Sikorsky S-70i Black Hawk Helicopters have arrived in the Philippines, the first batch of a 16-rotorcraft order. Five new Sikorsky S-70i Black Hawk Helicopters have arrived in the Philippines, the first batch of a 16-rotorcraft order. News of...
By Jim Campbell, ANN CEO/Editor-n-Chief/Test Pilot (Arrogant, Over-Opinionated Know-It-All/Test Dummy) ANN E-I-C Note: Yeah… I ‘ve been slower than molasses on a winter’s day getting these out to you… but due to recent MAJOR upgrades and announcements (like the MASSIVE...
Israeli carrier Arkia has revealed it is bidding to take over leisure operator Israir, one of multiple parties to have declared formal interest in acquiring the carrier. Israir is being auctioned as part of a restructuring of troubled parent company...