South African Airways could collapse within few days

Over 4,700 employees stand to lose their jobs. The airline could be grounded permanently after the department of enterprises rejected a request for a R10 billion bailout earlier this month. SAA will have to sell off most of its assets to be able to pay off creditors and settle workers’ severance packages. The business rescue…

Queensland Government offers Virgin Australia conditional $A200 million

The Queensland state government has offered Virgin Australia a conditional $200 million bailout ($127.3 million, €117.1 million £101.9 million). One of the conditions include Virgin keeping it’s headquarters in the Queensland capital of Brisbane. Other conditions include the Australian Government backing the airline, debt restructuring, shareholders and bondholders “doing their bit” and ongoing regional flights.…

Boeing to resume commercial airplanes production

Boeing will resume all Commercial Airplanes production in a phased approach at its Puget Sound-region facilities next week, after suspending operations last month in response to the COVID-19 pandemic. At all of its sites, the company has taken extra precautions and instituted comprehensive procedures to keep people safe and fight the spread of COVID-19. “The…