Kurt Hofmann has been writing on the airline industry for 25 years. He appears frequently on Austrian, Swiss and German television and broadcasting channels to discuss issues affecting commercial aviation.
Scandinavian Airlines (SAS) bondholders have now approved the conversions of hybrid notes and bonds into equity, a key step in the airline’s recapitalization that it needs to close to ward off the threat of bankruptcy.
Turkish Airlines and the Turkish civil aviation union Hava-İş agreed to adapt the staff’s collective labor agreement resulting in temporary pay cuts between 30 to 50% for its employees, but will avoid layoffs.
