Industry - The Airliner

Virgin Australia sale set for October completion

Posted on 28th September 202028th September 2020 by Dominic Oben

The acquisition of Virgin Australia Holdings (VAH) by Bain Capital is on schedule for October completion, administrator Deloitte indicated in a letter to creditors and employees. On 4 September, Creditors had accepted a proposal structured around 10 deeds of company arrangement (DOCAs) for all 41 VAH entities in voluntary administration. “I confirm the DOCAs were executed today, 25 September 2020 and will be lodged shortly with the Australian Securities and Investments Commission (ASIC),” Deloitte said in…

Ukrainian 737 crashes in Iran killing 176

Posted on 8th January 20208th January 2020 by Dominic Oben

A Ukraine International Airlines Boeing 737-800 has crashed in Tehran, killing all 176 onboard. The aircraft UR-PSR (MSN 38124), operating as flight PS752 bound for Kiev, took off from Imam Khomeini’s runway 29R at 06:12, but lost contact with air traffic control just six minutes later before crashing near Tehran. Reports from the Iranian Civil Aviation Organisation point to no survivors among the 167 passengers and nine crew members. Meteorological data from Imam Khomeini airport…

Qantas chooses A350-1000 over 777X for Project Sunrise

Posted on 13th December 201913th December 2019 by Dominic Oben

Qantas has tentatively selected the Airbus A350-1000 over Boeing’s 777X for its Project Sunrise ultra-long-haul route initiative. The Australian carrier wants to be able to operate regular, non-stop commercial flights from the east coast of Australia to London and New York, and said today it would order up to a dozen aircraft. A final “go or no-go” decision is set to take place in March 2020, extended from February by Airbus to provide additional time…

Emirates announces $16bn order for 50 A350XWB

Posted on 19th November 201919th November 2019 by Dominic Oben

Emirates has announced an order for 50 A350-900 aircraft with an estimated value of US$16 billion (£12.4bn) at list prices. The announcment was made on the second day of the Dubai Airshow 2019, with delivery of the first A350XWB aircraft expected in May 2023. Sheikh Ahmed bin Saeed Al Maktoum, Emirates Chairman and Chief Executive, signed the deal with Guillaume Faury, Chief Executive Officer from Airbus. This purchase agreement replaces the heads of agreement signed…

IAG acquires Air Europa in €1bn deal

Posted on 5th November 20195th November 2019 by Dominic Oben

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,…

Delta takes 20% stake in LATAM

Posted on 27th September 201927th September 2019 by Dominic Oben

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…

Thomas Cook collapses following failed rescue talks

Posted on 23rd September 201923rd September 2019 by Dominic Oben

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….

BALPA calls off BA strike for 27 September

Posted on 18th September 201918th September 2019 by Dominic Oben

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…

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

Posted on 9th September 20199th September 2019 by Dominic Oben

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…

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

Posted on 28th August 201928th August 2019 by Dominic Oben

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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