CAPA News Briefs

CAPA publishes more than 400 global News Briefs every weekday, covering all aspects of the aviation and travel industry. It’s the most comprehensive source of market intelligence in the world, with around 50 per cent of content translated from non-English sources. The breadth of our coverage means you won’t need any other news sources to monitor competitors and stay informed about the latest developments in the wider aviation sector.

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Below is a sample of the latest news headlines. 552 news briefs have been published for CAPA Members in the past 2 days.

Global Crossing Airlines (GlobalX) CEO Ed Wegel, via The Howard Group Canada official YouTube channel, stated (29-Jul-2020) the carrier plans to secure contracts for 10 passenger A320s and five to 10 cargo A320s during the "next six months", for "both current and future needs through the end of 2022". He noted: "The market now is in great favour for the lessee or the buyer of aircraft, and we think this situation will continue for at least the next 12 to 18 months". The COVID-19 situation is expected to result in "significantly reduced cash deposit requirements for aircraft" and "lower overall capped lease rates". GlobalX is involved in the following deals:

  • First deal: Contract for one aircraft from major US airline, "with an option for a second which we probably will exercise". Acquisitions are expected to be completed by the middle of Aug-2020. Aircraft feature Gogo WiFi and seat back entertainment, and GlobalX has the ability to acquire "up to an additional eight aircraft under this financing";
  • Second deal: Negotiations for four A320s;
  • Third deal: Negotiations for one A321 to be operated on services to Cuba and from Canada to Florida, under a two year lease deal. GlobalX is working with the lessor "to convert that aircraft to freighter so we can start our cargo operations".

easyJet stated (04-Aug-2020) total liquidity raised since the beginning of the coronavirus pandemic totals GBP2.2 billion, comprising GBP400 million from drawing down on its revolving credit facility, GBP600 million from the UK's government's 'Covid Corporate Financing Facility", GBP400 million from two term loans, GBP405 million in proceeds from a programme of sale and leaseback transactions and a GBP419 million of equity issuance. There are further expected sale and leaseback proceeds within the programme to be transacted. Following the sale and leaseback programme it is expected that approximately 50% of the fleet will remain unencumbered. As of 30-Jun-2020, the carrier's net debt position was GBP835 million, representing cash equivalents of GBP2.5 billion and gross debt leases of GBP3.4 billion. [more - original PR]

Alaska Air Group issued (04-Aug-2020) Worker Adjustment and Retraining Notification (WARN) notices to approximately 4000 employees on 01-Aug-2020, warning of potential furloughs. To date, the group has decided to reduce non union management positions by approximately 300 positions, and approximately 4000 employees have volunteered for various early out and voluntary furlough programmes. These changes are expected to result in a cost of USD250 million to USD300 million, which the group will recognise in 3Q2020. [more - original PR]

Tampa International Airport reported (04-Aug-2020) it has seen a "rapid growth" in passengers from May-2020 through to Jun-2020, adding this growth has "stalled" to around 20,000 average daily passengers in Jul-2020. The airport added Aug-2020 is expected to be a "solid month" before heading into the airport's slower period in Sep-2020 and Oct-2020. [more - original PR]

Aircastle reported (03-Aug-2020) it has executed documents or approved deferral arrangements with 40 lessees representing 50% of its customer base, as of 01-Aug-2020. The amount deferred currently approximates USD99 million including USD61 million under its Consolidated Balance Sheet as of 30-Jun-2020. This represents approximately 12% of reported lease rental and direct financing and sales-type lease revenues for the trailing 12 months ended 30-Jun-2020. The deferral typically average four months and are structured to be repaid by year-end or early in 2021 with interest. [more - original PR]

Arab Air Carriers Organisation (AACO), in a 3D Insight publication, reported (Jul-2020) its airline members are expected to experience a 54% decline in RPKs and 48% decline in ASKs year-on-year in 1H2020. AACO members sustained a "severe" decline in RPKs and ASKs from Mar-2020 to May-2020, due to lockdown measures designed to contain the spread of COVID-19. Monthly seat capacity to/from the Arab World declined 75% in Jun-2020, while Within Arab World fell 77%, marking an improvement compared to May-2020, when monthly seat capacity to/from the Arab World dropped 85% and Within Arab World decreased 81%. Additionally, AACO members reduced the number of in service aircraft to 782 as of 03-Jul-2020, in line with decreased demand, leaving 712 aircraft out of service. This likewise marks an improvement for members, as the number of out of service aircraft was 972 as of 02-Jun-2020. [more - original PR]

SpiceJet announced (04-Aug-2020) it secured slots at London Heathrow Airport and plans to commence service to London on 01-Sep-2020. The LCC said it will operate the services "under the bubble arrangement between India and UK and effective up to end of summer schedule" on 23-Oct-2020 and is "also in advance discussion to secure slots for winter schedule for regular operations". SpiceJet chairman and MD Ajay Singh stated: "London is one of the busiest long haul destinations from India and this is a huge milestone for SpiceJet". [more - original PR]

Air Madagascar, via its official Facebook account, announced (30-Jul-2020) it extended the suspension of all international services until 31-Aug-2020, in accordance with officially mandated travel restrictions.

Virgin Australia CEO Paul Scurrah stated: (05-Aug-2020) "Demand for domestic and short haul international travel is likely to take at least three years to return to pre-COVID-19 levels, with the real chance it could be longer". Mr Scurrah added following a return to pre-coronavirus travel demand, "successful airlines will be influenced by demand and look very different than the way they did previously". [more - original PR]

easyJet CEO Johan Lundgren stated (04-Aug-2020) the carrier's bookings "for the remainder of the summer are performing better than expected" and as a result, the airline expanded its schedule over Q4FY2020 to operate at circa 40% capacity. [more - original PR]

Emirates Airline announced (04-Aug-2020) plans to expand its network to 70 destinations in Aug-2020, following resumption of daily Dubai-Kuwait City service from 05-Aug-2020 and three times weekly Dubai-Lisbon service from 16-Aug-2020. Upon resumption of these services with Boeing 777-300ER, Emirates will operate more than 50% of its pre-COVID-19 destination network. [more - original PR]

CAAC reported (04-Aug-2020) the following traffic highlights for Jun-2020 and Jul-2020:

  • Jun-2020:
    • Passengers: 30.74 million, +10.2pp compared to May-2020 growth rate;
    • Number of flights: 325,000 for an average of 10,820 flights per day, +14.1% compared to May-2020;
  • Jul-2020:
    • Passengers: 37 million, +20.4% compared to Jun-2020;
    • Number of flights: 370,000 for an average of 11,941 flights per day, +10.4% compared to Jun-2020. [more - original PR - Chinese]