Delta Air Lines has warned that it expects its second-quarter revenue to be down 90 per cent on figures from the same time last year for the second quarter. The airline’s regulatory filing also confirmed that capacity is down by 85 per cent year-on-year. Unlike previous years, where estimations could be reasonably accurate a second
The government of Hong Kong will take a minority stake in Cathay Pacific as it agrees to bail out the airline to the tune of $5 billion. Cathay Pacific and its parent company Swire Pacific also announced that they plan to raise HK$39 billion ($5 billion) in new capital. Hong Kong’s flag carrier has struggled
The CH-53K King Stallion heavy transport helicopter has successfully completed several inflight refuelling tests with a United States Marine Corp KC-130J Super Hercules tanker. The test flight took place at the beginning of April off the east coast of the United States and lasted several hours. The Sikorsky family of CH-53 transport helicopters has been
The International Air Transport Association (IATA) released its financial outlook for the global air transport industry showing that airlines are expected to lose $84.3 billion in 2020 for a net profit margin of -20.1 per cent due to the ongoing pandemic.
Singapore Airlines has announced that it has managed to raise US$7.2 billion in new equity through the company’s recent rights issue. Along with its new liquidity, the Changi Airport-based national flag carrier of Singapore has built up a mix of secured and unsecured credit facilities. It is hoped this new liquidity will leave the airline