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Lufthansa Group revises outlook and plans to store additional aircraft - The Flying Sri Lankan

Lufthansa Group revises outlook and plans to store additional aircraft - The Flying Sri Lankan

Lufthansa Group yesterday shared details on Lufthansa’s 3rd package within their restructuring programme. They’ve taken decisions after they’ve witnessed a worsening outlook for international air traffic in recent weeks despite minor improvements that were seen in previous months as a result of the impacts caused by the Pandemic. Due to the current outlook, the Board have decided to go ahead with the third package of the Group-wide “ReNew” restructuring programme. The Group have stated that their medium-term fleet planning would be changed, and they currently expect by the middle of the...

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Sadakath Sufi Ismail
5d ago
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Boeing wins order for 2 B737-800BCF aircraft and agrees for more freighter conversion lines to meet demand - The Flying Sri Lankan

Boeing wins order for 2 B737-800BCF aircraft and agrees for more freighter conversion lines to meet demand - The Flying Sri Lankan

Aircraft manufacturer, Boeing yesterday announced that they have a firm order (unidentified customer) for 2 Boing 737-800 Boeing Converted Freighters (BCF) and they went on to add that they have agreed to open additional freighter conversion lines in Singapore and Guangzhou, China to meet the strong demand in the market. The latest order takes the orderbook for the B737-800BCF to 134 orders and commitments. Boeing stated that this aircraft variant offers operators lower fuel consumption, newer technology and higher reliability compared with other standard-body freighters. The aircraft can...

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Sadakath Sufi Ismail
6d ago
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AerSale acquires 24 Boeing 757-200 passenger aircraft and plans to convert them into dedicated freighters - The Flying Sri Lankan

AerSale acquires 24 Boeing 757-200 passenger aircraft and plans to convert them into dedicated freighters - The Flying Sri Lankan

Aviation products and services provider, AerSale has recently announced that they have purchased 24 Boeing 757-200 passenger variant aircraft along with the aircraft engines and 16 spares that were included in the deal, the 24 aircraft are based in Mexico at AerSale’s Heavy Maintenance, Repair and Overhaul (MRO) facility located at the Roswell Air Center. The purchased aircraft were amongst the nearly 500 commercial aircraft that is stored across AerSale’s facilities in both Roswell, New Mexico and Goodyear, Arizona for several aircraft operators including financial institutions and leasing...

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Sadakath Sufi Ismail
7d ago
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COVID-19 a blessing in disguise for Sri Lankan Airlines Restructuring efforts - The Flying Sri Lankan

COVID-19 a blessing in disguise for Sri Lankan Airlines Restructuring efforts - The Flying Sri Lankan

Chairman of Sri Lankan Airlines, Ashok Pathirage in a recent interview with Bloomberg discussed the current state of affairs of the national flag carrier and the impacts of on the business. He added that, with the island nation dependent to an extent on tourism as it contributes to around 4% of GDP that figure has now come down to nearly 0% impacting several travel and tourism-focused businesses in the local industry. The airline has experienced a 75% fall in revenues compared to last year as a result of the pandemic, but the Chairman was optimistic of the airline’s future post-pandemic...

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Sadakath Sufi Ismail
Sep 19
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Southwest Airlines daily cash burn was $19 million in August 2020 - The Flying Sri Lankan

Southwest Airlines daily cash burn was $19 million in August 2020 - The Flying Sri Lankan

US low-cost operator, Southwest Airlines yesterday released its updated guidance in a Securities and Exchange Commission filing. The Airline’s operating revenue was down 70% in August with load factors at a low 42%. The poor performances of the airline were a result of the impacts caused by the Pandemic. The airline in August 2020 experienced slight improvements for close-in leisure demand compared with July 2020 with the demand trends continuing into September. Moreover, the airline has seen slight improvements in leisure bookings for September and October. However, Q3 2020 capacity is...

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Sadakath Sufi Ismail
Sep 17
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Despite Aggressive cost reductions, SpiceJet turn in a loss of INR 5.9 billion for the quarter ending June 2020 - The Flying Sri Lankan

Despite Aggressive cost reductions, SpiceJet turn in a loss of INR 5.9 billion for the quarter ending June 2020 - The Flying Sri Lankan

Indian Low-cost carrier, SpiceJet disclosed yesterday their financial results for the quarter ending June 2020 where it made a net loss of INR 5.9 billion compared to a profit of INR 2.6 billion in the same period last year. Revenue from operations fell by 83% despite revenue from cargo increasing by 144% YoY emerging as the leading airline in India for Air Cargo. The disappointing results are due to the Pandemic impacting air travel all over the world. The airline went on record to add that they operated 47% of their pre-pandemic schedule after they restarted operations, the airline for...

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Sadakath Sufi Ismail
Sep 16
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Iceland Air Group finalizes USD 120 million state-backed loan guarantee - The Flying Sri Lankan

Iceland Air Group finalizes USD 120 million state-backed loan guarantee - The Flying Sri Lankan

Iceland Air Group today disclosed that they have received approval by the Icelandic Parliament with regards to a credit facility that would be backed by the government for up to USD120 million. The group has completed the final documentations with the relevant parties which include Landsbankinn, Íslandsbanki and the Icelandic Government for the USD120 million with a 90% guarantee by the government.Like many airlines around the world, Iceland Air’s traffic performance YoY shows the impact of the Pandemic on the airline’s performance during these uncertain times. Moreover, the credit facility...

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Sadakath Sufi Ismail
Sep 15
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Allegiant made $2 million daily bookings in August and expects daily cash burn to be over $1 million in Q3 - The Flying Sri Lankan

Allegiant made $2 million daily bookings in August and expects daily cash burn to be over $1 million in Q3 - The Flying Sri Lankan

Las Vegas based Allegiant Travel Company recently disclosed their August 2020 Traffic Reports. They’ve stated that they’ve seen daily bookings amounting to approximately $2 million in August while they anticipate a daily cash burn of over $1 million for the third quarter of 2020. Allegiant further stated that they’ve seen a positive sign in recovery as there has been week over week improvements in daily bookings in August and into September and if the trend remains stable they anticipate daily cash burn to fall below $1 million in the fourth quarter of 2020.As seen on the above chart, like...

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Sadakath Sufi Ismail
Sep 12
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IndiGo to raise funds amounting to $536 Million through share issuance - The Flying Sri Lankan

IndiGo to raise funds amounting to $536 Million through share issuance - The Flying Sri Lankan

’s largest domestic Airline, IndiGo has their plans on raising funds through the issuance of equity shares after the Board of Directors of the airline had approved the decision to raise around USD 536 Million (INR 40 billion).With the Pandemic impacting the travel and tourism industry severely, it has caused many financial and operational issues for many airlines and IndiGo was no stranger to it. The airline saw Revenue from their operations fall by 91.9%  in Q1 2020 compared to Q1 2019 and a loss of USD 382 million (INR 28.44 billion) in Q1 2020 (April to June) due to the virus impacting...

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Sadakath Sufi Ismail
Aug 12
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Cathay Pacific Group loses HK$9.86 billion in 1H 2020 - The Flying Sri Lankan

Cathay Pacific Group loses HK$9.86 billion in 1H 2020 - The Flying Sri Lankan

based Cathay Pacific Group released its today. The Group has lost HK$9.86 billion (USD1.27 billion) during the first half of 2020 compared to a profit of HK$1.34 billion (USD173 million) in the first half of 2019. Loss of HK$7.36 billion (USD950 million) was attributable to Cathay Pacific and Cathay Dragon with the remaining losses made by subsidiaries and associates.The losses the group made were despite a promising start in January especially when passenger demand was recovering after the political unrest in Hong Kong that impacted the group’s second-half results in 2019, but the airline...

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Sadakath Sufi Ismail
Aug 12
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The US FAA issues emergency safety directive for 2000 Boeing 737s - Indian DGCA has asked their airlines to look at their Boeing 737 fleet. - The Flying Sri Lankan

The US FAA issues emergency safety directive for 2000 Boeing 737s - Indian DGCA has asked their airlines to look at their Boeing 737 fleet. - The Flying Sri Lankan

With dampened demand for air travel caused by the COVID-19 Pandemic, many airlines resorted to grounding and storing their fleet of aircraft including one of the most famous aircraft types with Boeing having delivered over 10,000 Boeing 737 single-aisle jets.The US Federal Aviation Administration (FAA) had issued an emergency safety directive to airlines to check for any kind of corrosion on the engine valves of their stored B737 fleet, the FAA directive orders inspection on the aircraft that haven’t flown for over 6 days. This would impact around 2,000 jets within the US, the directive was...

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Sadakath Sufi Ismail
Jul 25
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Asiana Airlines A380 “ghost flights” for pilots to remain certified - The Flying Sri Lankan

Asiana Airlines A380 “ghost flights” for pilots to remain certified - The Flying Sri Lankan

carrier Asiana Airlines flies to 85 destinations with a fleet of 70 aircraft including 6 Airbus 380s. The carrier is the 2nd largest airline serving South Korea by capacity.Source: Blue Swan DailyWith global travel demand dampened due to the impacts of the Pandemic, many operators of the Jumbo Jet have grounded the variant from flying till travel picks up again, Asiana Airlines is no different.However, a grounded jet still requires pilots to have the necessary documentation for when it flies again. The carrier had to decide if they were either going to let the documentation expire for their...

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Sadakath Sufi Ismail
Jul 25
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Royal Jordanian Airlines losses increases by 389.92% to $35.8 million for Q1 2020 – Jordan to support the carrier’s future operations - The Flying Sri Lankan

Royal Jordanian Airlines losses increases by 389.92% to $35.8 million for Q1 2020 – Jordan to support the carrier’s future operations - The Flying Sri Lankan

Royal Jordanian Airlines is the flag carrier for the Hashemite Kingdom of Jordan established in 1963. The airline is a member of the prestigious Oneworld alliance and operates out of Queen Alia International airport in Amman.Royal Jordanian lost JD25.46 million for the first three months of 2020, this is a 389.92% increase in losses compared with the loss of JD5.19 million made in the first three months of 2019. The airline cites the suspension of passenger flights due to government restrictions in Jordan and in international markets due to the Pandemic as the main reason for the material...

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Sadakath Sufi Ismail
Jul 19
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5% of Global Air Cargo carried is done by Turkish Cargo – They’ve also stepped up to help Pakistani exporters - The Flying Sri Lankan

5% of Global Air Cargo carried is done by Turkish Cargo – They’ve also stepped up to help Pakistani exporters - The Flying Sri Lankan

Turkish Cargo is one of the fastest-growing air cargo company in the world and part of Turkish flag carrier, Turkish Airlines. Turkish Cargo has increased their share of the global air cargo market to 5% which amounts to 1 in every 20 shipments that use air for the transportation of goods this is while air cargo globally has fallen by 28.5%. Turkish Cargo works alongside Turkish Airlines to offer cargo capacity in both passenger and freight aircraft.While Global Air Cargo contracted during the onset of the Pandemic, Turkish Cargo maintained their air cargo levels without losing any tonnage...

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Sadakath Sufi Ismail
Jul 19
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Singapore Airlines expects to turn a loss for Q1 FY20-21 and recorded a 99.3% fall in passengers carried in June - The Flying Sri Lankan

Singapore Airlines expects to turn a loss for Q1 FY20-21 and recorded a 99.3% fall in passengers carried in June - The Flying Sri Lankan

Singapore based Singapore Airlines continues to operate a small network of flights to 24 metro cities due to dampened demand caused by the Pandemic and in June of 2020 passengers carried fell to 99.3% resulting in only 13,900 passengers with a load factor of 12.4% compared with 1.88 million passengers with a load factor of 86.7% during June 2019.Singapore Airlines drew a dull projection of profitability for the Financial Year 2020/2021 (FY20-21), citing a material impact on their revenue-generating capabilities and expects to report an operating loss for Q1 of the FY20-21 given the current...

theflyingsrilankan.com
Sadakath Sufi Ismail
Jul 19
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Sadakath Sufi Ismail

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