Boeing plans to cut its workforce by almost 19% by the end of 2021 and is beginning a consolidation process that could see up to a 30% cut in the company’s footprint, Boeing said Oct. 28 while discussing third-quarter results.
Finnair has increased its cost-savings target by a further €40 million and is in talks with Airbus to defer delivery of its three remaining Airbus A350s on order.
Boeing will cut more jobs and ramp up its cash-preservation strategy as it continues to streamline operations and minimize financial damage exacerbated by the global airline downturn, company executives said Oct. 28.
U.S. carriers have retired hundreds of jets ahead of schedule due to the global slump in commercial air travel caused by the COVID-19 pandemic. But how are they utilizing those aircraft that remain, and which models have lost favor in their revamped fleets? A deep dive into Aviation Week Fleet Discovery data offers some clues.
Boeing is sticking to its earlier announced plans to slash widebody production rates by 50% by 2021 while simultaneously hoping to gradually restore 737 production to 31 per month by the start of 2022.
Top-tier manufacturers and suppliers are not banking on a quick commercial aftermarket rebound, financial figures and commentary from 2020 third-quarter (Q3) earnings calls underscore.
Austrian Airlines will cut capacity for the coming winter schedule further to only 20% or less of 2019 levels as the rising number of COVID-19 cases in Europe is expected to dampen any new travel demand.
The FAA has issued an updated request for information (RFI) to industry under the interagency Spectrum Efficient National Surveillance Radar (SENSR) program, seeking information on commercial products that could replace some legacy radar systems.
CEO Jude Bricker says the passenger airline’s flexible route network and cargo-handling deal with Amazon have enabled it to remain resilient during the COVID-19 pandemic.
In an effort to facilitate the integration of unmanned aviation into everyday life, the Civil Aviation Administration of China has approved an initial batch of test sites in 13 cities across the country.
UK LCC easyJet has raised $398.6 million from aircraft refinancing and secured union agreement to cut its Berlin-based fleet from 34 to 18 aircraft, with 418 job losses.
Frontier Airlines is well-placed for further expansion over the coming years fueled by ongoing low-cost point-to-point leisure demand in the U.S., according to CEO Barry Biffle.
Raytheon Technologies expects to end 2020 with $10 billion in cash on hand, in part thanks to a new deal to sell its Forcepoint cybersecurity business, but also due to 20% fewer commercial aerospace employees, executives said Oct. 27.
Icelandair’s operations will continue to be “minimal,” after operating just 9% of flights in the 2020 third quarter (Q3), which caused net profits to fall 37.9% to $38.2 million.
The shared need between heavy maintenance providers and their customers to survive the pandemic-driven downturn could foster more long-term agreements that give both sides the certainty they crave, industry executives say.
JetBlue Airways executives sounded an upbeat tone about leisure demand trends headed into the winter holiday season, even as they announced a $393 million net loss for the 2020 third quarter (Q3).
