SIA Engineering (SIAEC) has remained profitable, even as mass aircraft groundings and disruptions plague the Singapore air hub amid the COVID-19 crisis.

The Indonesian government is in the process of helping Garuda Indonesia draft a $1 billion financing proposal as the state-controlled airline has a $500 million Islamic bond (sukuk) due in June.

Avianca Holdings, one of Latin America‘s largest airlines, has filed for chapter 11 bankruptcy in New York after failing to secure a government bailout before the deadline for a $66 million bond repayment due this month.

SALZBURG—As part of its new program that reconfigures passenger aircraft for cargo operations in the age of COVID-19, Lufthansa Technik has signed its first agreement to convert an Airbus A380.

Along with other measures, such as 30-50% cuts to cash wages, the reduction in force should still mean the company at a minimum remains at cash breakeven.

Lockheed Martin has achieved its pledged goal of delivering $450 million in accelerated progress payments from the Pentagon to support the supply chain during the global novel coronavirus pandemic. 

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Star Alliance member EgyptAir and hybrid LCC Air Cairo have signed an MOU to enhance their strategic positioning and integrate their network and fleet, in an effort to overcome the repercussions of the spread of COVID-19.