TOMORROWS TRANSPORTATION NEWS TODAY!
New images of MH370 debris have been released by wreck hunter Blaine Gibson who is responsible for finding or securing the majority of the Boeing 777.
Mr. Gibson says many ask him if he was happy to find No Step, the first piece of 370 debris he discovered.
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NEW YORK — Virgin Atlantic, the airline founded by British businessman Richard Branson, filed Tuesday for protection in U.S. bankruptcy court as it tries to survive the virus pandemic that is hammering the airline industry.
The airline made the Chapter 15 filing in U.S. federal bankruptcy court in New York after a proceeding in the United Kingdom.
A spokeswoman for Virgin Atlantic said the bankruptcy filing is part of a court process in the United Kingdom to carry out a restructuring plan that the airline announced last month. The process is supported by a majority of the airline’s creditors, and the company hopes to emerge from the process in September, she said.
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https://www.foxbusiness.com/markets/virgin-atlantic-airline-bankruptcy-protection
The airline has started operating to the majority of its domestic ports with the country’s move to Alert Level 2.
Air New Zealand General Manager Networks Scott Carr says the airline has been encouraged by the customer response to its recently released schedule.
“We’re pleased to be able to restart both our Taupo-Auckland and Timaru-Wellington routes early next month and we know this news will be welcomed by these towns and their wider regions.
“Bringing Taupo and Timaru back into our domestic schedule means we’ll soon operate to all 20 of the domestic destinations we serviced pre COVID-19, albeit with reduced frequencies.”
Initially the airline will operate three return services a week between Taupo and Auckland on Monday, Wednesday and Friday as well as three return services per week between Timaru and Wellington also on Monday, Wednesday and Friday.
Additional frequencies will be reintroduced back into Air New Zealand’s domestic schedule as demand permits.
Flights are available to book now at www.airnewzealand.co.nz
(Reuters) – Avianca Holdings, Latin America’s second-largest airline, filed for bankruptcy on Sunday, after failing to meet a bond payment deadline, while its pleas for coronavirus aid from Colombia’s government have so far been unsuccessful.
If it fails to come out of bankruptcy, Bogota-based Avianca would be one of the first major carriers worldwide to go under as a result of the pandemic, which has crippled world travel.
Avianca has not flown a regularly scheduled passenger flight since late March and most of its 20,000 employees have gone without pay through the crisis.
“Avianca is facing the most challenging crisis in our 100-year history,” Avianca Chief Executive Anko van der Werff said in a news release.
While Avianca was already weak before the coronavirus outbreak, its bankruptcy filing highlights the challenges for airlines that cannot count on state rescues or on such rescues coming fast enough. Avianca is still hoping for a government bailout.
“This isn’t a surprise at all,” said Juan David Ballen, chief economist at Casa de Bolsa brokerage in Bogota. “The company was heavily indebted despite the fact it tried to restructure its debt last year.”
Avianca, the second-oldest continually operating airline in the world after KLM, had $7.3 billion in debts in 2019. The airline filed for Chapter 11 bankruptcy in New York and said it would continue operations while it restructured its debts.
The Colombian Association of Civil Aviators (ACDAC), a union representing many Avianca employees, said it supported the move.
Avianca already went through bankruptcy in the early 2000s, from which it was rescued by a Bolivian-born oil businessman, German Efromovich.
Efromovich grew Avianca aggressively but also saddled the carrier with significant debt until he was ousted from the airline last year in a boardroom coup led by United Airlines Holdings Inc. He still owns a majority stake in the carrier.
United stands to lose up to $700 million in loans related to Avianca.
Efromovich told Reuters on Sunday that he disagreed with the decision to file for bankruptcy and that he was not involved in making it.
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https://finance.yahoo.com/news/colombias-avianca-airline-files-bankruptcy-174035790.html
KUALA LUMPUR (Reuters) – Privately held Golden Skies Ventures (GSV) has made a $2.5 billion offer to fully take over the holding company of ailing state carrier Malaysia Airlines, with financing from a European bank, its executives told Reuters on Monday.
GSV, which was set up by former Malaysia Airlines officials and professionals with aviation experience, made the proposal a month ago, as airlines around the world were hammered by travel restrictions following the coronavirus pandemic.
“We have secured in excess of $2.5 billion from the bank. We will take about three to four months to get the long-term financing,” Chief Executive Shahril Lamin told Reuters in a phone interview.
GSV said it also has a commitment from a Japanese private equity firm to inject immediate funds into the aviation group through an equity deal.
It declined to name the firms involved, adding it was in talks with other foreign banks and private equity firms for further funding.
GSV has submitted its proposal to Morgan Stanley which has been hired by the aviation group’s sole owner, sovereign wealth fund Khazanah Nasional Bhd.
Sources have previously said Japan Airlines Co Ltd, domestic carriers AirAsia Group Bhd and Malindo Air have shown interest in Malaysia Airlines.
GSV said it would assume most of the airline’s debt that is being held by the government in outstanding Islamic bonds.
Khazanah and Morgan Stanley did not immediately respond to emailed requests for comment.
GOLDEN SHARE
The proposal includes keeping the government’s so-called golden share which allows it majority voting rights and maintains Malaysia Airlines’ flag carrier status.
GSV expects it will have ample liquidity to help the airline operate comfortably for up to 18 months.
It intends to reinstate Malaysia Airlines as a premium long-haul airline by expanding its flight network and maximising utilisation of its 81-plane fleet. It also plans to keep other business units such as the budget airline, cargo freighter and maintenance repair and overhaul unit.
“It’s still a viable venture, it has inherent strengths. We are saying we won’t lay off the 13,000 frontline employees and we are not going to asset-strip the airline,” Deputy Chief Executive Ravindran Devagunam said.
The firm aims to achieve positive earnings before interest, taxes, depreciation and amortisation within three years of taking over, and targets 15 billion ringgit ($3.5 billion) in revenue in 2025.
Plans for a listing or possible listing of its units are on the cards in three to five years, they said.
Ravindran said the firm is banking on pent-up travel demand when the coronavirus is contained. “Regardless of how long (the virus) will take this year, we are looking at an uptick in the business from summer 2021.”
($1 = 4.3450 ringgit)
(Reporting by Liz Lee; Editing by David Holmes and Edwina Gibbs)
Airbus continues to purchase and supply millions of face masks from China, the large majority of which will be donated to governments of the Airbus home countries, namely France, Germany, Spain and the UK.
An Airbus flight test crew has just completed its latest mission with an A350-1000 test aircraft. This is the third of such missions between Europe and China. The aircraft returned to France with a cargo of 4 million face masks on Sunday 5 April.
The A350-1000 left Toulouse, France, on Friday 3 April, reaching the Airbus site in Tianjin, China on 4 April and returning to Hamburg the same day.
Since mid-March, the previous two missions were performed by an A330-800 and an A330 Multi-Role Tanker Transport (MRTT). Airbus also deployed an A400M and its Beluga fleet to transport shipments of masks between its European sites, in France, Germany, the UK and Spain.
Airbus will continue to support the fight against the Coronavirus pandemic wherever possible.
“I would like to pay tribute to all the Airbus teams, globally, supporting the fight against COVID-19. They’re living our values in assisting those who are saving lives every day”, said Guillaume Faury, Airbus CEO. “
Airbus is focused on the health and safety of its employees and supporting its customers and the industry eco-system with business continuity. At the same time Airbus is contributing to many vital public and private services and working with partners who rely on aircraft, helicopters, space and security solutions to carry out life-saving missions in support of the global pandemic.
Airbus is deploying its employees, their expertise and know-how and leveraging technology in this fight against the COVID-19 pandemic, for example in designing and manufacturing ventilators and 3D printed visors which are critical resources for hospitals.
The Company is partnering with other organisations in unprecedented ways to achieve this goal as fast as possible.
Air Canada said today that it will gradually suspend the majority of its international and U.S. transborder flights by March 31, 2020 in response to decisions by national governments, including Canada and the United States, to close borders and restrict commercial aviation as a result of the COVID-19 crisis. Subject to further government restrictions, the airline intends to continue to serve a small number of international and U.S. trans-border destinations from select Canadian cities after April 1, 2020. The airline also intends to continue serving all provinces and territories of Canada after that date, albeit with a significantly reduced network.
All schedule changes can be found at www.aircanada.com.
International and U.S. transborder services
In order to facilitate the continued repatriation of citizens to their home countries, including Canadians back to Canada, and to support the essential movement of needed goods and cargo during the crisis, Air Canada intends to continue to operate a limited number of international “air bridges” between one or more of its Canadian hubs and the cities of London, Paris, Frankfurt, Delhi, Tokyo and Hong Kong from April 1 until at least April 30. This will reduce its international network from 101 airports to six.
As to U.S. transborder services, given the decision by the U.S. and Canadian governments today, from April 1, Air Canada will reduce its transborder network from 53 airports to 13, subject to further reductions based on demand or government edicts. The cities with continued service will be: New York (LGA and EWR), Boston, Washington, D.C. (IAD and DCA), Chicago, Houston, Seattle, San Francisco, Los Angeles, Denver, Orlando and Fort Lauderdale.
Domestic Canada network
Air Canada intends to continue to serve all provinces and territories of Canada, reducing its domestic network from 62 airports to 40 through a reduced network during the period April 1 to 30, subject to further reductions based on demand or government edict.
For information on Air Canada’s schedule beginning April 1, 2020 please see www.aircanada.com.
“The restrictions on travel imposed by governments worldwide, while understandable, are nonetheless having a cataclysmic effect upon the global airline industry. Our immediate focus is on ensuring the safety and well-being of our employees, customers and communities. At the same time, we are exploring with the Government of Canada possibilities to maintain essential operations to enable as many Canadians as possible to return to Canada, and to support other vital transport needs, including the shipment of goods and cargo during the crisis as required in any state of emergency. We are working around the clock to deal with the impact for our customers and our business of the various travel restrictions that are being made by governments at unprecedented speed without advance warning. We will also look at helping Canadians to return home by operating a limited number of charters from international destinations and exploring with the Government of Canada avenues in this regard. We will provide updates as details are finalized,” said Calin Rovinescu, President and Chief Executive of Air Canada.
For Affected Customers
The airline will gradually suspend some of its scheduled flights between now and March 31 as demand for Canadians to return to Canada from a number of destinations reduces. Please check Air Canada’s website for details given the rapidly evolving situation.
Affected customers, including those with Air Canada Vacations packages, whose flights are cancelled will receive a full credit valid for 24 months. There is no requirement to contact Air Canada as customers will be contacted directly.
The airline has also put in place temporary, one-way fares to Canada to enable customers abroad to return home. Customers seeking to contact Air Canada are advised that contact centre wait times are elevated, so the airline has put in place a number of self-service tools to enable customers to manage their travel online. For more information please consult our COVID-19 webpage at www.aircanada.com.
El Al Israel Airlines is outsourcing operation of its main freighter route between Tel Aviv and Liege, Belgium, to Atlas Air Inc. under an extended charter arrangement.
Atlas, an aviation services company headquartered in Purchase, N.Y., said Tuesday it is leasing El Al a Boeing 747-400 all-cargo aircraft, operating it with its own crew and providing maintenance and insurance (ACMI) beginning this month.
El Al, a new customer for Atlas, is experiencing strong growth in demand across its freight network, according to the announcement. The Israeli carrier sells the space on the plane and covers expenses such as ground handling, landing fees and fuel.
No terms of the commercial cooperation were disclosed, but ACMI deals typically run for one to three years.
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https://finance.yahoo.com/news/atlas-air-lands-el-al-164407972.html
(Reuters) – The Canadian Transportation Agency said on Tuesday Onex Corp will need to amend its by-laws to meet the country’s ownership rules related to its proposed C$3.5 billion buyout deal of Canada’s second-largest carrier WestJet Airlines.
The agency has sought the amendment to Onex’s by-laws to ensure that matters related to WestJet are voted where a majority of Canadian directors are present.
WestJet said it is in the process of reviewing the determination.
Air Canada had challenged Onex Corp’s proposed acquisition of WestJet Airlines, on grounds that the deal may not meet the country’s ownership rules. (https://reut.rs/2LHqQvk)
Air Canada had argued that the likely presence of Onex co-investors such as foreign wealth funds and carriers, and “the opaque nature” of the deal to buy WestJet through company subsidiary Kestrel Bidco, will make it harder to ensure compliance with ownership laws.
Under Canada’s Transportation Act, carriers must be Canadian and controlled by Canadians in order to hold a domestic licence.
Shareholders of WestJet Airlines in July voted in favor of the Onex deal.
Under Canadian rules, foreigners cannot own more than 49% equity in a Canadian airline. The rules further restrict a foreign airline and any single foreign owner from controlling more than a quarter of voting interests in a Canadian carrier.
Onex did not immediately respond to Reuters request for comment.
(Reporting by Arundhati Sarkar in Bengaluru; Editing by Shailesh Kuber and Uttaresh.V)
ATLANTA, Nov. 15, 2019 /PRNewswire/ — ExpressJet Airlines, a United Express carrier, began assigning pilots to its Embraer E175 aircraft base of operations at Chicago O’Hare International Airport, in advance of a January 1, 2020 open.
“Chicago’s size and central location makes it a highly desirable location for commuter pilots and locals alike,” said Scott Hall, Vice President of Flight Operations. “Opening the E175 crew base in Chicago is a natural outcome of ExpressJet’s growth trajectory.”
The E175 base will be in addition to ExpressJet’s existing ERJ145 pilot, flight attendant, and maintenance bases in Chicago. This is ExpressJet’s second E175 base, after the first base opened at Houston’s George Bush Intercontinental Airport.
About ExpressJet Airlines
ExpressJet Airlines operates as United Express, on behalf of United Airlines (UAL), to serve more than 100 airports across the United States, Canada and Mexico, with over 3,300 weekly flights from bases in Chicago, Cleveland, Houstonand Newark. ExpressJet’s fleet includes more than 100 aircraft, including the Embraer ERJ145 and 25 new Embraer E175 aircraft. ExpressJet pilots enjoy top-tier pay and quality of life and can choose the Aviate career path to United Airlines. ExpressJet is a subsidiary of ManaAir, LLC. ManaAir is majority-owned by KAir Enterprises and minority-owned by United Airlines. For further information, contact 404-856-1199, corpcomm@expressjet.com.
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