With the confirmation of reports that Virgin Australia is entering voluntary administration earlier this morning, frequent flyers and the Australian public have voiced concern over what lies ahead for the troubled airline. Virgin Australia Holdings Limited, under the strain of around A$5.3 billion in debt and the Australian Government rejecting its requests for $1.4 billion…
Despite the measures, the Board of these companies are left with no choice but to apply for bankruptcy. Due to the ongoing spread of the Coronavirus (COVID-19) most countries have advised against or have banned non-essential travel. The closure of borders and quarantine restrictions has effectively brought the entire airline industry to a halt. Consequently,…
United Airlines will sell and lease back 22 planes to Bank of China (BOC) Aviation, a statement from the aircraft investor released to the Hong Kong Stock Exchange said on Sunday. The deal involves six Boeing 787-9 aircraft and 16 Boeing 737-9 MAX aircraft from United Airlines, the statement said. The Singapore-based BOC Aviation did…
The Guardian Australia is reporting that Virgin Australia will appoint Deloitte as an Administrator. The Guardian said the move would mean that Virgin would become the biggest airline collapse in Australia. ABC News says the decision could happen as soon as tomorrow, with Fairfax Media saying the airline’s board will meet tonight and an administration…
A small plane was forced to make an emergency landing on a highway and narrowly avoided cars on the road outside of Quebec City, Canada. The pilot managed to find a gap in the traffic to make a smooth landing on Highway 40 without hitting anything or injuring anyone. Other drivers are left baffled as…
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…
Virgin Australia has managed to beat the longest flight time set by rival Qantas in October last year. On Monday a Virgin Australia 777-300ER, registration VH-VPD, landed in Paris on a flight from Auckland, New Zealand via Hong Kong. The flight was a repatriation flight organised by the French Government. On Tuesday the 777 took…
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 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…
Air New Zealand has laid off it’s entire B777 staff and some of their B787 staff. The airline plans to keep it’s entire 777 fleet grounded until at least April next year. Newshub reports that mid to long haul crew will reduce to 583, down from 1533. Inflight service managers will be cut to 70,…
