Lufthansa Group repays financial aid from the German government

On Friday, Deutsche Lufthansa AG repaid or cancelled all remaining government Stabilization funds from the Federal Republic of Germany. The repayment was made much earlier than originally planned. This was made possible primarily by the rising demand for air travel, the fast restructuring and transformation of the Lufthansa Group and the capital markets’ confidence in […]

Air Canada and Government of Canada Conclude Agreements on Liquidity Program

Air Canada announced today that it has entered into a series of debt and equity financing agreements with the Government of Canada, which will allow Air Canada to access up to $5.879 billion in liquidity through the Large Employer Emergency Financing Facility (LEEFF) program. «Air Canada entered the pandemic more than a year ago with […]

Canadian Government Needs to Consider Safe Options and Reopen Borders

The International Air Transport Association (IATA) urges the Canadian government to support the COVID-19 testing initiatives of Air Canada and WestJet as a means to safely reopen Canada to international and domestic travel without the need for blanket quarantine measures. International traffic to Canada has plummeted since quarantine measures were introduced in March 2020. ‘‘There […]

WTTC urges governments to maintain open borders

The World Travel & Tourism Council (WTTC) has warned governments around the world that further country-wide border closures could seriously jeopardise global economic recovery. WTTC is urging authorities to take a more carefully calibrated approach and introduce localised measures, and only when necessary. This would avoid blanket restrictions, prevent stalling the fragile economic recovery and […]

South African Airways creditors approve rescue plan

South African Airways (SAA) creditors approved a rescue plan for the struggling airline on Tuesday that requires at least 10 billion rand ($596 million) in new funding, throwing the ball into the government’s court to come up with the cash. State-owned SAA, which last made a profit in 2011, entered bankruptcy protection in December and […]

IATA Proposes Alternatives to Quarantine

The International Air Transport Association (IATA) urged governments to avoid quarantine measures when re-opening their economies. IATA is promoting a layered approach of measures to reduce the risk of countries importing COVID-19 via air travel and to mitigate the possibility of transmission in cases where people may travel while unknowingly being infected. “Imposing quarantine measures […]

UK government announces creation of Jet Zero Council

During a daily UK government coronavirus briefing on 12 June 2020, the UK’s Transport Secretary, Grant Shapps, announced the creation of the Jet Zero Council – a group that will be responsible for making net-zero carbon emissions a reality for all flights in the future. During the briefing, Shapps said: “The challenge is to make […]

Airline Debt to Balloon by 28% Heavy New Debt Levels Will Weigh Down Airline Recovery

The International Air Transport Association (IATA) released analysis showing that the airline industry’s global debt could rise to $550 billion by year-end. That’s a $120 billion increase over debt levels at the start of 2020. $67 billion of the new debt is composed of government loans ($50 billion), deferred taxes ($5 billion) and loan guarantees […]

ACI and IATA Call for Urgent Financial Assistance to Protect Jobs and Operations

Airports Council International (ACI) World and the International Air Transport Association (IATA) have today come together to call for governments to quickly grant financial relief to assist airport operators and airlines during the unprecedented COVID-19 crisis and support the essential connectivity the industry will provide for economic recovery. The industry is united with governments around […]

ITF and IATA: Support from Governments Essential to Protect Jobs and Preserve Aviation Industry

The International Transport Workers’ Federation (ITF) and the International Air Transport Association (IATA) called for support from governments to the aviation industry, to protect jobs and ensure that air services can be maintained. The economic situation facing the aviation industry is severe. Air passenger demand is down 80%. Airlines are facing a liquidity crisis which […]