Save Our Summer: UK pilots and cabin crew issue travel sector rescue plea
British pilots, cabin crew, travel agents and other workers are urging politicians to save the summer holiday season by reopening routes abroad or risk destroying tens of thousands of jobs as companies fail.
Japan to consider tighter rules on foreign owners of domestic firms -Yomiuri
The Japanese government is looking at tightening regulations on foreign funds that hold stakes in domestic firms with important technology in areas such as nuclear power and defence, the Yomiuri newspaper reported on Wednesday.
Europe’s Wizz Air expects to fully recover from pandemic next year
European budget carrier Wizz Air (WIZZ.L) expects to fully recover from the coronavirus crisis as travel demand rebounds from the pandemic, its chief executive said on Monday.
Philippine Airlines parent posts record loss, readies restructuring plan
MANILA, June 17 (Reuters) – The parent company of Philippine Airlines’ (PHL.UL) booked a record 73 billion pesos ($1.51 billion) loss in 2020, up seven fold from a year earlier, after the COVID-19 pandemic lashed the global aviation sector.
Court approves Thai Airways plan for makeover of $12.9 bln debt
Thai Airways International Pcl (THAI.BK) won court approval on Tuesday to restructure a debt load of $12.9 billion as the airline, which is already in bankruptcy protection, seeks to turn around its fortunes.
GE, Safran venture to develop radical new jet engine
General Electric (GE.N) and France’s Safran (SAF.PA) has unveiled plans to test-build an open-bladed jet engine able to reduce fuel use and emissions by 20% as they prolonged their historic CFM International joint venture by a decade to 2050.
Pandemic drags Emirates to $5.5 bln loss, its first in 33 years
Emirates said Dubai’s government would continue to support the airline through the coronavirus pandemic after posting an annual loss of $5.5 billion, its first in more than three decades.
Archer’s flying taxi makes splashy debut in heated market
Archer Aviation unveiled its first electric flying taxi “Maker” in a Tesla-style debut on Thursday as an increasing number of investors and aviation companies pile into the hot but yet-to-be-approved urban air mobility space.
Cathay Pacific given extension to draw down $1 bln govt loan
Cathay Pacific Airways Ltd (0293.HK) said on Tuesday that the Hong Kong government had agreed to extend the drawdown period for a HK$7.8 billion ($1.01 billion) loan facility by a year to June 2022, giving it more flexibility to manage liquidity.
Air Canada executives to return bonuses after government aid outcry
Top executives at Air Canada (AC.TO) will return their bonuses and share awards, the carrier said on Sunday, in response to “public disappointment” over executive compensation at the airline, which received government aid in April.
