North American business aviation flight activity reclaimed a third of the Covid-19-induced losses last month, rising 84 percent month-over-month but still down 49.2 percent from a year ago, according to TraqPak data released today by Argus International. The company’s forecast expects more post-Covid recovery this month, predicting a 26.6 percent decline from June 2019.
The Coronavirus impact on the aviation Industry
Jun 10, 2020 - 12:04 PM
Airbus Helicopters is poised to receive French government financial support to develop a hybrid powerplant for its H125 single. The financing is part of a $17 billion emergency infusion into the domestic aerospace industry triggered by the Covid-19 crisis. Beneficiaries include Airbus, Air France, Dassault, Safran, and Thales, and the aid is contingent on the recipients investing in environmentally “green” projects, including more efficient and lower-emission propulsion.
Jun 10, 2020 - 11:40 AM
Air Service Basel (ASB) plans to wind down its aircraft maintenance operation by August 1, citing economic pressures caused by the Covid-19 pandemic. “Business aviation has undoubtedly been facing challenges for a while now and the coronavirus pandemic has certainly not been in our favor,” said ASB chief executive Claudio Lasagni. “It’s with a heavy heart that we close the maintenance department, but we remain positive about the industry bouncing back after this crisis.”
Jun 10, 2020 - 11:31 AM
Research led by the UK’s Cranfield University has found that the Covid 19 pandemic will lead to a smaller, more consolidated air transport industry in the future. The study—involving a series of interviews with senior aviation industry executives along with analysis of flight and air freight data—provides an early assessment of the medium- and long-term effects of Covid 19 on both passenger and cargo traffic.
Jun 10, 2020 - 10:47 AM
Wisk has resumed flying with its Cora eVTOL aircraft after flight testing was interrupted by government restrictions imposed due to the Covid-19 emergency. The company, which is a joint venture between Boeing and Kitty Hawk, announced today that it has restarted flights with four prototypes at its sites New Zealand and California.
Jun 10, 2020 - 10:00 AM
Finnair plans to raise €500 million ($565 million) with a share offering in an effort to boost flagging liquidity resulting from Covid 19-related traffic declines, the airline said in a statement issued Wednesday. The subscription period for the share offer starts on June 17 and ends on July 1. Shares will trade on the Nasdaq Helsinki exchange between June 17 and June 25. The Finnish government, which holds some 55.9 percent of the airline’s outstanding shares, has committed to fully subscribe.
Jun 9, 2020 - 5:19 PM
The Aeronautical Repair Station Association (ARSA) is seeking a broad response from the aircraft maintenance community—including non-member maintenance providers—to a survey that will help shape its lobbying priorities in Congress and advocate for the industry in general with regulators around the world. Results of the survey also will help illustrate more expansively what is currently happening within the maintenance industry, according to ARSA.
Jun 9, 2020 - 11:55 AM
Emirates Airline said Tuesday that it has begun pilot and cabin crew cuts but declined to confirm the numbers of employees affected or reports of severe pay cuts for those who remain. The move marks a second round of cuts following its decision two weeks ago to let go of hundreds of A380 pilot and flight attendant trainees.
Jun 9, 2020 - 11:36 AM
Having been hit hard by Covid-19 restrictions, India’s largest low-cost carrier Indigo has converted 10 of its more than 250 aircraft to freighters and has now started offering aircraft charter under IndiGo Charter Services to boost revenue.
Jun 9, 2020 - 11:11 AM
The International Air Transport Association on Tuesday issued a mixed financial outlook for the airline industry for next year, projecting significant improvement in cash flow over a historically dismal 2020 but overall losses totaling $15.8 billion. In its first profit and loss projection since it began a series of weekly conference calls with media in the early days of the Covid-19 crisis, IATA said it expects airlines to lose $84.3 billion this year, for a negative net profit margin of 20.1 percent.
