IAG acquires Air Europa in €1bn deal

IAG acquires Air Europa in €1bn deal

International Airlines Group (IAG) has announced it will buy Madrid-based Air Europa for €1 billion. The Spanish airline will be acquired by IAG subsidiary Iberia, with the group stating that the brand “will initially be retained and the company will remain as a standalone profit centre within Iberia run by Iberia CEO Luis Gallego”. IAG said that the move would transform its Madrid hub “into a true rival to Europe’s four largest hubs: Amsterdam, Frankfurt,…

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Delta takes 20% stake in LATAM

Delta takes 20% stake in LATAM

Delta Air Lines will be spending $1.9 billion (£1.5bn) in LATAM Airlines Group to take a 20% in the Latin American conglomerate, it has announced. The surprise deal will give Delta a much larger presence in the region, with the new partnership serving 435 destinations worldwide and carrying more passengers between North America and Latin America than any other partnership. As part of the deal, Delta will purchase four A350 aircraft from LATAM and will…

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Thomas Cook collapses following failed rescue talks

Thomas Cook collapses following failed rescue talks

Thomas Cook has filed for compulsory liquidation after last-minute negotiations on recapitalisation fell through. The UK Civil Aviation Authority (CAA) said this morning the tour operator had “ceased trading with immediate effect.” Just days ago, Thomas Cook Group said that it was in discussions to secure a £200 million standby fund on top of a previous capital injection — a £900 million rescue package from China’s Fosun Tourism Group and other lending banks and shareholders….

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BALPA calls off BA strike for 27 September

BALPA calls off BA strike for 27 September

The British Airline Pilots Association (BALPA) announced today it has called off the next strike scheduled for 27 September in the ongoing dispute between British Airways and its pilots.  Last week, British Airways pilots striked for the first time in the airline’s history, walking out for two days following failed negotiations between the airline and the pilots’ union over pay.  The strikes led to the cancellation of nearly 100% of BA flights, costing the airline…

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British Airways cancels nearly 100% of flights as pilots go on strike

British Airways cancels nearly 100% of flights as pilots go on strike

British Airways has cancelled nearly all of its flights today as pilot union BALPA began a two-day walkover over pay. “Unfortunately, with no detail from BALPA on which pilots would strike, we had no way of predicting how many would come to work, or which aircraft they are qualified to fly, so we had no option but to cancel nearly 100% our flights,” British Airways said in a statement this morning. The strike comes as…

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China’s Fosun Tourism Group to acquire 75% of Thomas Cook

China’s Fosun Tourism Group to acquire 75% of Thomas Cook

Thomas Cook has agreed to a rescue deal with China’s Fosun Tourism Group, its banks, and a majority of its bondholders worth £900m, the group confirmed. The deal will see Fosun, which already owns 18% of the Thomas Cook Group, acquire 75% of the tour operator business and 25% of the airlines unit in return for a £450m capital injection. Meanwhile, Thomas Cook’s lending banks and bondholders will contribute a further £450m for 75% of…

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Boeing announces $3bn losses amid 737 MAX crisis

Boeing announces $3bn losses amid 737 MAX crisis

Yesterday, Boeing posted the largest loss in its history, with the American manufacturer losing an adjusted $3.7bn (£2.96bn) in the second quarter ending June. The loss comes as the 737 MAX approaches its fifth month of worldwide grounding, following two crashes which killed hundreds of people, the cause of both being attributed to the MAX’s MCAS anti-stalling software. The earnings call highlighted the impact to Boeing of the MAX grounding, as the company reported losses…

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PAS19: A321XLR rakes in orders as IAG signs for 200 737 MAX

PAS19: A321XLR rakes in orders as IAG signs for 200 737 MAX

The Paris Air Show kicked off this week with Airbus’ announcement of the A321XLR. The aircraft, which has a range of 4,700nm (8,704km), has raked in hundreds of orders since, with customers including IAG, American Airlines, and Qantas. IAG kicked off by announcing that it would be placing an order for 14 A321XLR. The deal includes eight for Iberia and six for Aer Lingus, with options for a further 14. The twinjets will allow Aer Lingus – already…

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Airbus officially unveils A321XLR

Airbus officially unveils A321XLR

Airbus has officially unveiled a new long-range version of the A321neo at the Paris Airshow 2019, the A321XLR. The new aircraft will become the longest ranged, single-aisle jetliner when it is launched in 2023. The A321XLR comes as a result of increasing demand in the market for longer-range narrowbodies and will deliver a range of up to 4,700 nm (8,700 km) – 15 per cent more than the A321LR, but with the same fuel efficiency. Airbus expects…

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Airbus confirms A350 suitability for Qantas

Airbus confirms A350 suitability for Qantas

Airbus has confirmed that it will be able to offer Qantas both A350 variants to enable its “Project Sunrise” nonstop flights between Sydney and London. Qantas is currently evaluating the A350 as well as the Boeing 777-8 to meet its distance requirement on nonstop flights from Sydney and Melbourne to London and New York. The longest flight currently operated by the A350 is Singapore Airline’s Singapore – Newark route, making use of the -900ULR on…

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