The FINANCIAL — The U.S. Federal Aviation Administration (FAA) rescinded the order that halted commercial operations of Boeing (NYSE: BA) 737-8s and 737-9s. The move will allow airlines that are under the FAA’s jurisdiction, including those in the U.S., to take the steps necessary to resume service and Boeing to begin making deliveries. “We will never forget the lives lost in the two tragic accidents that led to the decision to suspend operations,” said David Calhoun, chief executive officer of The Boeing Company. “These events and the lessons we have learned as a result have reshaped our company and further focused our…
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The FINANCIAL -- Extensive cost cutting measures are being implemented by the region’s carriers to mitigate the financial impact of COVID-19. However, due to flight bans as well as international and regional travel restrictions, airlines’ revenues are plummeting—outstripping the scope of even the most drastic cost containment measures. With average cash reserves of approximately two-three…
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The FINANCIAL — Due to the unprecedented escalation of COVID-19, the Board of TUI are continuously evaluating the situation and are considering a variety of actions to support their customers, colleagues and stakeholders. Multinational travel and tourism company TUI (TUI.L) announced that it will be suspending all package holidays, cruises, and hotel operations due to the…
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The FINANCIAL -- The International Air Transport Association (IATA) updated its analysis of the financial impact of the novel coronavirus (COVID-19) public health emergency on the global air transport industry. IATA now sees 2020 global revenue losses for the passenger business of between $63 billion (in a scenario where COVID-19 is contained in current markets…
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The FINANCIAL — British airline Flybe has collapsed. All flights have been grounded and that the business has ceased trading with immediate effect. The airline had been struggling for a while. A potential loan to Flybe was part of a rescue deal announced almost two months ago. But the airline’s request did not meet certain…
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The FINANCIAL — Shares of airlines and travel companies around the world plunged Monday due to fears about the spread of the coronavirus. The International Air Transport Association warned last week that the virus would inflict a $1bn hit on airline industry’s revenues. Korean Air cabin crew worker tests positive for coronavirus. EasyJet dropped 16.4…
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Roman Bokeria worked in various positions in the private sector as well as public institutions in the United States. He graduated from St. Petersburg State University of the Faculty of World Economics and Banking (1992-1996). He continued his studies at the Tbilisi State University in Business Law (1997-2003).…
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The FINANCIAL -- Over 140,000 tonnes – the equivalent weight of 66 London Eyes - of Christmas cargo expected to fly through Heathrow, the UK’s biggest port by value during the holiday season…
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The FINANCIAL -- Emirates announced it will introduce a daily A380 service for a temporary period between Glasgow and Dubai from 16 April 2019. It will be the first time the popular double decker aircraft will operate on a scheduled basis to Scotland.…
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The FINANCIAL -- Global mobility solution provider Bombardier Transportation received a call-off order from Albtal-Verkehrs-Gesellschaft mbH, the transport company of the Alb valley region in southwest Germany, for the delivery of 20 further dual-system BOMBARDIER FLEXITY trams. This third order is based on a framework agreement for a total of 75 vehicles from 2009.…
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