Iranian investigators are probing the serious uncontained failure of a Fokker 100 engine which forced the crew to abort take-off from Tehran’s Mehrabad airport. The Iran Aseman Airlines jet (EP-ATE) had been operating a service to Ardabil, near the Caspian...
One of Vietjet Air’s Airbus A321s has apparently suffered structural damage after a hard landing at Dong Hoi airport in central Vietnam. FlightGlobal understands that the accident occurred in the early evening on 16 October as the aircraft, VN-A639, landed...
SIA Group has utilised S$6.2 billion ($4.6 billion) of S$8.8 billion gross proceeds from a rights issue completed in June. The amount was drawn down between 8 June and 13 October, and besides a one-time S$2 billion repayment of a...
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...