Impact of the coronavirus crisis on aviation

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Re: Impact of the coronavirus crisis on aviation

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Daily review:

Air Seychelles revised planned International service resumption until 26 October 2020, on the routes from Mahe Island to Johannesburg, Mauritius and Tel Aviv.

AirAsia founder Tony Fernandes believes short-haul flying is likely to recover first from the impact of the pandemic on travel.

Caribbean Airlines advises that in the coming weeks the airline will apply temporary measures to support the recovery of the airline. Measures include salary reductions, temporary layoffs, and continued cost reductions.

Cathay Pacific pilots are pushing to be included in restructuring talks at the carrier and will run a newspaper advertisement to drum up public support.

EgyptAir will reopen five routes early in October 2020, from Cairo to Muscat, Amman, Kigali, Johannesburg, Entebbe, Sharjah, Dubai, and Abu Dhabi. Flights from Alexandria to Dubai will also resume.

Ethiopian Airlines has lost more than US$1 billion in revenue during the pandemic but has so far managed to avoid seeking a bailout or laying off any employees. It even recorded a profit of $44 million for 1H of 2020.

Etihad CEO Tony Douglas says the airline has “received remarkable support from our shareholder” in response to questions about a state bailout. He did not disclose details.

Fitch Ratings says passenger traffic at airlines in several key Asia-Pacific markets is likely to remain well below 2019 levels in 2021, despite a recovery.

IATA downgraded its traffic forecast for 2020 to reflect a weaker-than-expected recovery, as evidenced by a dismal end to the summer travel season in the Northern Hemisphere. IATA now expects full-year 2020 traffic to be down 66% compared to 2019.

Satena will restart operations in several regions, in which the operation is expanded to 33 routes nationwide, thus reaching 25 destinations.

TAP Air Portugal says it saved US$1 billion by renegotiating with Airbus the postponement of the purchase of 15 aircraft. The carrier to postpone the delivery of A320neos for 2020 by one year and postponed most deliveries scheduled for 2021 and 2022, for the period between 2025 and 2027.

United Airlines pilots voted to accept a deal that would avert 2,850 furloughs, while thousands of other US airline employees are hoping US Congress will extend federal aid to save their jobs.
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Re: Impact of the coronavirus crisis on aviation

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Daily review:

Asia Pacific Airline Storage is storing 94 planes at Alice Springs (Australia), and will store more in Southeast Queensland to accommodate more planes.

IAG to be part-owned by the Spanish government, who acquire 2.5% of the company for €75 million, as part of the exercise of the pre-emptive subscription rights of the IAG capital increase.

IATA says the severe downturn in air traffic in 2020 caused by Covid-19, followed by a slow recovery will result in a loss of up to 46 million jobs normally supported by aviation around the globe.

LATAM estimates that it will reach 26% of its operating capacity in October 2020 with the increase to 440 weekly flights.

Ukraine International Airlines postpones the re-start of flights Kyiv – Brussels and Kyiv – Dusseldorf until 24 October 2020. UIA will also temporarily suspend flights Kharkiv – Tel-Aviv from 04 October, and Dnipro – Tel-Aviv from 08 October.
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Re: Impact of the coronavirus crisis on aviation

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Daily review (for the last two days - I was away yesterday):

Air France suffered a 70% fall in revenue in August 2020 as its international network operated at around 30% of full capacity. The Group is still burning through €10 million in cash a day but is working to limit losses.

Air Namibia has cut in half the salaries of cabin crew members, pilots and ground staff who have stayed home since the airline stopped flights in March 2020.

Air North of Canada may be forced to lay off another 50% of its staff if it is forced to cut back to one Vancouver flight per day in winter 2020/21.

Alaska Airlines to soon begin to furlough 532 employees as federal aid for airlines is running out and talks over an extension stalled.

American Airlines and United Airlines said they were beginning furloughs of over 32,000 workers on 01 October 2020 as hopes faded for a last-minute bailout from Washington.

Delta Air Lines said that the airline will avoid furloughs for many employees and pilot furloughs until at least 01 November 2020.

EgyptAir has scheduled the resumption of flights from Cairo to Algiers in October 2020. Flights to Casablanca, Tunis, Madrid, Moscow, Munich, and Rome to follow.

Iberia has extended the Temporary Employment Regulation File until 31 January 2021, to which workers can voluntarily apply.

Philippine Airlines kicked off a major job-cutting program that could slash its workforce by more than a third. The company is aiming to cut around 35% of jobs across all departments.

PSA Airlines announced 259 furloughs and cuts in a filing through the WARN Act, including 156 pilots and 62 flight attendants.

Southwest Airlines
could be forced to lay off thousands of employees due to the crisis in the absence of an extension of federal payroll aid.

Turkish Airlines could receive capital or financing support from Turkey’s wealth fund, though nothing had yet been finalized.

US Trump administration has proposed including a US$20 billion extension in aid for the airline industry in a new stimulus proposal to House Democrats worth over $1.5 trillion.
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Re: Impact of the coronavirus crisis on aviation

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Daily review:

Aeromexico has restarted operations from Guadalajara to San Francisco, returning to the US skies.

Air Tanzania plans to resume its scheduled international flights in Africa in October 2020, including Lusaka, Harare and Entebbe while its China route will be resumed in November 2020.

AirAsia Japan to cease operations with immediate effect, affirms the airline, following a board decision.

Airbus says the outlook for the aviation industry has deteriorated again due to rising infections and renewed travel restrictions. The company has said it needs to shed 15,000 posts worldwide.

Alaska Airlines to retire 10 owned A320s earlier than previously scheduled, leading to an impairment charge between US$115-125 million. The dates were not disclosed.

Condor will successfully conclude the German protective shield proceedings as a healthy company in November 2020.

EuroAtlantic Airways criticizes the lack of state support for the aviation sector as a whole, but believes that it will be possible to maintain partnerships with TAP Air Portugal after the restructuring process has ended.

TAP Air Portugal announced that the Portuguese State strengthened its position from 50% to 72.5% in the air carrier, within the scope of its remunerated loan in favour of the airline. With this, David Neeleman exited the shareholding of TAP.

TAP Air Portugal is returning to Chicago O’Hare and San Francisco airports on 02 October and 03 October respectively, with nonstop service to Lisbon from each.

Fiji Airways has extended International scheduled service suspension to November 2020. Planned service resumption to the US and Kiritimati will begin in January 2021.

Garuda Indonesia has been sued several times by lessors and is currently in talks with such lessors to avoid the courts.

Mesa Air Group has reached an agreement with its pilots that will enable the company to avoid furloughing any employee for the remainder of 2020.

SWISS plans to cut roughly 1,000 jobs over the next two years through voluntary measures rather than layoffs.

United Airlines plans to resume service on nearly 30 international routes in November 2020, including flights to cities in Asia, Europe, and South America.
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Re: Impact of the coronavirus crisis on aviation

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Daily review:

Air Tahiti Nui CEO Michel Monvoisin denounced a distortion of competition compared to other French airlines, which have access to government financing.

AirAsia X has announced a group-wide debt and corporate restructuring scheme, as the airline seeks to avoid liquidation and restart some flight operations early in 2021.

American Airlines removed 86,000 flights from its schedule for November 2020 as hopes for a commercial airline recovery this holiday season fades.

Easyjet Switzerland plans to cut around 70 jobs in Geneva and Basel. In addition, the fleet in Basel is to be reduced by two aircraft.

IATA has been deeply impacted by the COVID-19 crisis and on 01 October 2020, it proposed an organisational restructuring including a headcount reduction of around 22%.

IATA warned that the airline industry will burn through US$77 billion in cash during 2H 2020, despite the restart of operations. The slow recovery in air travel will see the airline industry continuing to burn through cash at an average rate of $5 to $6 billion per month in 2021.

LATAM negotiates a permanent reduction in salaries with unions in Brazil , after having laid off 2,700 employees amid the economic crisis.

Philippine Airlines is cutting up to a third of its workforce, or around 2,700 jobs, as the aviation sector continues to suffer from pandemic-driven travel curbs.

Southwest Airlines is asking unions to agree to pay cuts in order to prevent furloughs and layoffs through 2021 as the industry struggles to stem losses from the pandemic in the absence of more federal aid.
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Re: Impact of the coronavirus crisis on aviation

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Daily review:

Aeromexico and the flight attendants’ union agreed that the liquidation of more than 600 flight attendants will be made no later than 30 October 2020.

Iraqi Airways has its license to operate in Iran cancelled due to the violation of stipulated rules and regulations around the pandemic.

Japan Airlines wants to create a low-cost carrier network with three of its discount carriers to tap leisure travel that, unlike business travel, could rebound as the coronavirus wanes.

Royal Air Maroc wants to reduce its costs again, which may result in a second wave of layoffs.

Sun-Air Scandinavia to resume service as early as November 2020, out of Billund. Service to Germany will now resume in January 2021.

Philippine government is ready to assist the airline sector as long as it won’t end up owning troubled carriers. The private sector banks have to cough up the majority of the assistance.

Ukraine hopes that air carriers will be able to receive state support, as the industry is in a difficult situation due to the pandemic. Ukraine International Airlines has announced that it has received about US$60 million.

US President Donald Trump said Congress should quickly extend US$25 billion in new payroll assistance to US passenger airlines furloughing thousands of workers as air travel remains down sharply.
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Re: Impact of the coronavirus crisis on aviation

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Daily review:

Air Tahiti Nui obtains government loan of US$20.6 million to offset part of the losses caused by the closure of the borders.

AirAsia Group is looking to return some planes to lessors and shrink its fleet, says Group CEO Tony Fernandes, who estimates by the end of 2021 the Group will be flying 180 planes, AirAsia remains in talks with Airbus about reducing pending orders. AirAsia X may have requested Airbus to cancel its aircraft orders without incurring any penalties as part of its proposed debt restructuring, analysts said.

ANA All Nippon Airways has notified its labor union of a plan to slash annual pay for its about 15,000 ordinary employees by 30% on average. The airline would cut salaries and pay no bonuses this winter.

Camair-Co announces the resumption of its domestic flights in Cameroon on 12 October 2020, with a leased B737-300.

Cebu Air plans to raise roughly US$500 million through bonds and shares to ride out the downturn in the aviation sector. Half will be raised through convertible preferred shares and the other half through a private offering of convertible bonds.

EasyJet expects to fly 25% of planned capacity for fiscal 1Q 2021, while capacity in the 4Q was 38% and passengers for the full year fell by 50% to 48 million. EasyJet launched an employee consultation process on proposals to reduce staff numbers by up to 30%. EasyJet has called on the British government to provide airlines with a bespoke package of support measures urgently, warning that aviation is facing the most severe threat in its history.

Aviation consultant IBA says there is a growing divergence between aircraft base and market values as the global effects of the pandemic drive down demand. The US$60 billion gap between aircraft base values and market values have grown by as much as 40%.

Luxair to restructure to respond to both economic and structural problems, with the Luxembourg state granting a social package worth €50 million over three years. Capacity cuts up to 50% by end of 2020 may be on the cards.

SAS Scandinavian Airlines will reduce short-haul production by 44% in November 2020, and therefore the Danish pilots will have to reduce their wages and working hours accordingly.

SWISS had its offer for a seat on the board of directors rejected by the government, in the context of negotiations around federal assistance. The operation or the acquisition of a stake in an airline does not fall within the remit of the Confederation.

Japan’s Chief Cabinet Secretary Katsunobu Kato said the government would continue its support for the country’s airlines which have been hit by a collapse in air travel due to the pandemic.
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Re: Impact of the coronavirus crisis on aviation

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Daily review:

Air Seychelles will resume limited passenger services across its regional network from Seychelles to Mauritius, Johannesburg and Tel Aviv in winter 2020.

American Airlines would be forced to discontinue service to additional US markets in the absence of new coronavirus relief from Washington.

EasyJet Switzerland will withdraw two planes from its base at Basel-Mulhouse airport, where 70 positions could be threatened.

Fitch Ratings says the pandemic is the worst crisis to date impacting the travel/airline sector, including aviation ABS. Fitch expects heightened pressure on ratings over the next 12 months depending on the pace of recovery across the sector and ongoing credit trends and ABS cash flow implications.

GOL has increased its capacity to an average of 270 flights per day, a 42% increase from an average of 190 daily flights in August 2020. GOL’s consolidated gross sales for September 2020 were over US$142.7 million and average LF was 80%.

Qatar Airways CEO Akbar Al Baker says the outlook for the airline industry continues to be bleak, as fears mount over a potential second wave of infections this fall and winter. He expects more bailouts in Europe and more collapses around the world.

SmartLynx is working on a restructuring plan, as operations were significantly affected by the pandemic. Support may come from the government.

Sun Country Airlines is reducing 7% of jobs at its headquarters as federal aid for the airlines is in limbo and bookings remain far below sustainable levels.

Ukraine International Airlines, which has cut 900 employees during the quarantine period, expects losses of US$60 million in 2020. UIA did not make adjustments to its budget, because it is difficult to predict how the current year will end.

US House Speaker Nancy Pelosi said there won’t be stand-alone bill for additional airline aid without a larger coronavirus stimulus package.
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Re: Impact of the coronavirus crisis on aviation

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Its not the end yet, Etihad decided to ground its 10 Airbus A380s till next year September 2021.
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Re: Impact of the coronavirus crisis on aviation

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Daily review:

Air Cote d’Ivoire has lost US$86 million in revenue due to the pandemic, leading the State to allocate a subsidy of $25 million. The carrier has already recovered 50% of its operations.

AirAsia and AirAsia X have confirmed the retrenchment of 10% of their 24,000 employees.

Avianca expects there will be 6,000 job cuts and the figure will not depend on credit from the Colombian government.

China Eastern Airlines will receive a cash injection of US$4.6 billion from four new state-owned investors as part of an equity diversification plan.

Finnair has launched a comprehensive adjustment and cost-savings program. The program includes, among many other actions, jointly agreed decreases in personnel costs for several personnel groups. Top management remuneration does not include variable salary elements from 2020-2022.

Malaysia Airlines restructuring plan was rejected by the majority of lessors, bringing the carrier closer to a showdown over its future.
However, a few leasing companies have endorsed the plan.

Norwegian is considering laying off staff at its base at London Gatwick, as the struggling airline steps up its cost-cutting drive to survive the industry’s worst crisis.

Thai Airways International plans to furlough more workers and offer early retirement to its staff to trim its workforce, as it attempts to make what is left in its cash reserves last until April 2021.
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Re: Impact of the coronavirus crisis on aviation

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Finally. The European Commission takes the lead to unify the travel advices within the EU:

press release 13/10/2020:
https://ec.europa.eu/commission/pressco ... nt_20_1871

interactive map:
https://reopen.europa.eu/en

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Re: Impact of the coronavirus crisis on aviation

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Daily review:

Airbus and major French unions signed a keenly awaited labor deal, covering job reductions and furloughs for production workers affected by lower demand for passenger jets. Airbus management does also not rule out layoffs at the subsidiary Premium Aerotec (Germany).

China Southern expects the pandemic to severely hurt its results for 9M 2020. The carrier plans to issue short-term bonds of up to US$1.48 billion. Last week, the carrier announced plans to raise $2.3 billion via convertible A-share bonds to purchase 11 A320neo series aircraft.

Eastar Jet of South Korea will lay off more than half of its workforce as it strives to find a new investor. The move affects 605 of its 1,200 employees.

GOL has further revised planned service resumption for international service until 19 December 2020 on routes from Sao Paulo Guarulhos to Buenos Aires Ezeiza and Montevideo.

Jeju Air of South Korea has applied for the loan from the key industry stabilization fund, which is designed to help industries hit hard by the pandemic.

LOT Polish Airlines will continue their current strategy and expect the reconstruction of its Warsaw hub from summer 2022. State aid is pending.

Malaysia Airlines is struggling to make payments owed to creditors and lessors amid the pandemic that has forced it to slash its operations. The carrier has a new plan involving big discounts from creditors, but unlike last time the government is unwilling to bail it out.

Sunwing Airlines is resuming scheduled operations in November 2020, initially offering services from Canada to Costa Rica, the Dominican Republic, Jamaica and Mexico, with B737-800s.

TAP Air Portugal may get another US$500 million in state loan guarantees during 2021, according to the government budget for the year.
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Re: Impact of the coronavirus crisis on aviation

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Daily review:

Air Nostrum is negotiating with Valencia’s regional government on options to aid the airline with €10 million to alleviate the effects of the pandemic.

AirAsia X plans to begin flying again with two aircraft in selected markets from 1Q 2021 on medium-haul routes.

Alaska Air Group says capacity reductions are expected to continue into 2021. Effective 01 October 2020, approximately 400 employees, primarily flight attendants, were placed on an involuntary furlough. This will result in a one-time cost of approximately US$320 million. September cash burn was approximately $117 million.

Croatia Airlines plans to store its A320 fleet from late October 2020 until at least 17 December 2020 due to reduced demand.

Delta Air Lines does not expect to plug a daily cash bleed until spring 2021 due to the pandemic, which hit its business harder than expected in the 3Q 2020. Delta is also delaying US$5 billion in aircraft deliveries until after 2022, dealing a blow to Airbus as the US carrier braces for years of weak travel demand.

Evelop plans to resume operations in December 2020, with regular connections between Spain and Latin America.

IATA said the current crisis is threatening some 4.8 million aviation jobs. The rupture in global air connectivity puts at risk a further 41.2 million jobs across the travel and tourism sector. And that is not even counting the impact on trade and other cross border businesses.
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Re: Impact of the coronavirus crisis on aviation

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Up to 46 million jobs at risk due to COVID-19 aviation downturn, Air Transport Action Group warns

https://www.aviation24.be/organisations ... oup-warns/

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Re: Impact of the coronavirus crisis on aviation

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The government of Sahle-Work Zewde (graduated from the University of Montpellier 8-) ) had launched a procedure for the privatization of some state-owned companies, including Ethiopian Airlines. But because of the crisis, of the covid19, the government suspended the procedure.

https://l-frii.com/la-privatisation-det ... suspendue/ (French)

Ethiopian Airlines is opening a Lomé-Newy York JFK, in addition to the current Lomé-Newark. The LFW-JFK route is a transfer from the Abidjan-JFK route that will close. Not too surprised, approached by the Ivorian government, South African Airways had expressed doubts about the profitability of this route between Abidjan and New York, compared to Dakar New York or Accra-New York.

ET will end ADD-Lomé-Houston. Even if there are a lot of Nigerians, who live in Texas, it is mainly a business route, for the oil industry, with connections, with Asky, on Nigeria, Gabon or the Republic of Congo. United Airlines closed its Houston-Lagos route a few years ago.

https://www.togofirst.com/fr/transport/ ... e-new-york (French)

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Re: Impact of the coronavirus crisis on aviation

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Daily review:

Norwegian Air UK to delay its planned service resumption, which is now set for late March 2021.

Ryanair announces the winter closure of bases in Cork, Shannon, and Toulouse. The carrier also announced significant base aircraft cuts in Belgium, Germany, Spain, Portugal and Vienna.

https://www.aviation24.be/airlines/ryan ... or-winter/

Argentina publishes the decree authorizing the resumption of regular domestic flights as of today.

China’s number of domestic flights in September 2020 topped last year’s levels, with passenger numbers indicating the local aviation sector is nearing a full recovery from the impact of the pandemic.

Japan’s government will waive airport landing fees worth up to US$120 million to ease the financial burden on airline operators.
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Re: Impact of the coronavirus crisis on aviation

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Daily review:

AirBaltic will be forced to seek additional funding if the crisis drags on, says CEO Martin Gauss.

Emirates president Tim Clark has described Covid-19 as “a glitch” which the airline will overcome, with demand returning sooner than later.

Norwegian to part with of almost half of all B787s in the fleet in addition to trying to raise more capital. Between 14 and 18 Dreamliners will leave the fleet.

TAP Air Portugal expects to have 1,600 fewer workers at the end of 2020, says the government.

United Airlines Holdings does not expect to retire any mainline aircraft in near future, as it looks towards recovery.

Estonia’s government will discuss increasing the share capital of Nordica by US$25 million and an $9 million loan to help counter the effects of the crisis.
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Re: Impact of the coronavirus crisis on aviation

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Daily review:

Air Europa is ready to resume its operations with Latin America and plans to have doubled its flights before the end of 2020. The airline postpones the reactivation of the vast majority of its long-haul flights, including those to Mexico, the US and Brazil.

AirAsia X
has run out of money and needs to raise up to US$120.6 million to restart the airline. The carrier is also down one aircraft after a lessor took the plane back to convert it into a freighter. AirAsia X is liquidating its Indonesian arm in a bid to survive the pandemic. The Group has also written down its 49% stake in Thai AirAsia X. The proposed restructuring plan requires approval from investors and creditors.

Asiana Airlines will receive US$2.0 billion from the state’s Key Industry Stabilisation Fund after the airline’s stake sale collapsed. Rival Korean Air is also preparing to seek financial support from the fund.

Boeing is weighing whether to jettison the Seattle-area headquarters of its commercial aeroplane division as it cuts costs and stockpiles cash.

British Airways will scale back its operations at London Gatwick under a transformation plan to bounce back from the pandemic. BA will shift business to Heathrow.

Cathay Pacific board of directors is expected to back a restructuring plan this week that includes staff redundancies and pay cuts in a bid to keep the carrier afloat. The airline expects to operate less than 50% of its pre-pandemic passenger flight capacity in 2021 as it nears completion of a strategic review that could lead to major job losses.

Condor wants to leave the protective shield proceedings without being able to present a new investor. If the creditors agree, a so-called trustee, SG Luftverkehrsgesellschaft (Germany), would take its place.

Malaysia Airlines parent company is still holding negotiations with lessors and creditors over a restructuring plan to keep the carrier alive, but the talks are taking longer than planned.

SWISS is expected the airline to run out of money at the end of 2020 as the government’s emergency loan of US$1.75 billion for SWISS and Edelweiss was based has become obsolete in view of the travel restrictions.

Volaris Costa Rica
announced the resumption of its operations on 23 November 2020. Volaris (Mexico) expects revenues are unlikely to return to 2019 levels before 2022. By the end of 2021, the carrier will have roughly 40% of the domestic market, and about 17 or 16% of the international market.

Canada isn’t ruling out the possibility of taking a stake in Canadian airlines, like WestJet and Air Canada, as ministers consider how to help the sector in its struggles amid the pandemic.

The Gambia reopened its borders after a six-month lockdown in light of the pandemic. Banjul airport will remain closed till 31 October 2020 however due to construction work.

Venezuela extended until 12 November 2020 the measure of restriction of air operations in the country.
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