Français »
German "
Search
October 20th

More articles from the category

October 20th

Lufthansa remains deep in the red

Jan Gruber 20 October 2020 21:29

Lufthansa will also end the third quarter of 2020 with deep red figures. The group announced on Tuesday that the adjusted EBIT was -1.262 million euros on a preliminary basis. In the previous year it was clearly positive at 1.297 million euros. The crane puts the operating loss for the first nine months at 4.161 million euros. The adjusted free cash flow in the first nine months of 2020 amounted to -2.579 million euros (previous year: 685 million euros). In the third quarter, the adjusted free cash flow was -2.069 million euros (previous year: 416 million euros). Payments for corona-related flight cancellations of 2,0 billion euros in the third quarter were mainly offset by cash inflows from the expansion of flight activities in July and August. The group also benefited from strict working capital management and the postponement of tax payments. Net debt thus amounted to EUR 8.930 million at the end of the third quarter (December 31, 2019: EUR 6.662 million). Lufthansa also explains that liquid funds of EUR 10,1 billion were available across the Group at the end of September. This also includes funds from the state aid granted by Austria, Germany, Belgium and Switzerland that have not yet been drawn down. According to the ad hoc announcement, EUR 6,3 billion have not yet been drawn down. However, flight operations will continue to be restricted and, according to current planning, will only be "a maximum of 2020 percent" of the previous year's capacity in the fourth quarter of 25. Lufthansa wants to ensure "that flight operations continue to make a positive cash contribution." At the same time, the Lufthansa Group is working intensively on restructuring measures in all

Continue reading "

KW 41: Lufthansa sold 74,3 percent fewer tickets

Jan Gruber 20 October 2020 17:25

An analysis by the investment portal Kryptoszene.de shows the sharp decline in air traffic in Germany during the Corona pandemic. Lufthansa, by far the largest provider in Germany, was particularly affected. The decline was at times as high as 92,9 percent. In the 41st calendar week of 2020, 58,4 million airline tickets were sold worldwide. In the previous year, however, the figure was 112,7 million. In this selected week alone, the decline was 48,2 percent, and the trend is rising. In Germany, 68,7 percent fewer tickets were sold. The analysts at Kryptoszene.de come to the conclusion that Lufthansa is suffering particularly badly from the effects of the pandemic. The decline in calendar week 41 was 74,3 percent. By comparison: Ryanair saw a decline of 56,1 percent and Air China only -2,5 percent, although this could also be due to ultra-cheap domestic flights. "A look at the share price development shows a similar result: Lufthansa has lost 365 percent of its market capitalization over the last 50,1 days. Its Irish competitor Ryanair, on the other hand, only lost 3,7 percent of its value," the portal said. "It is hardly surprising that the Corona crisis and the exit restrictions are hitting the aviation industry," said crypto scene analyst Raphael Lulay. "However, the survey makes it clear that some companies seem to be getting off relatively lightly, while others are suffering severe losses."

Continue reading "

Media: State aid is said to be scarce at Swiss and Lufthansa

Jan Gruber 20 October 2020 15:44

According to various media reports that have appeared in the Swiss Confederation, the Lufthansa subsidiary Swiss is once again about to apply for state aid. According to the articles, the funds that were made available in the form of loans are slowly but surely running out. Switzerland has so far given Swiss and its sister company Edelweiss 1,5 billion francs. The Sunday newspaper writes that Lufthansa is losing half a billion euros a month and that it too will soon run out of steam. Both Swiss, Lufthansa and possibly Austrian Airlines could soon be knocking on the door of their respective governments again and demanding more money. However, this is still being strongly denied. Swiss points out that the financial resources should be sufficient for the next few years. However, the Sunday newspaper counters this with reports from Swiss management circles that money "could become scarce". According to the information referred to by the media, by the end of 2020 the entire Lufthansa Group could run out of money and new state aid could be necessary. However, it is completely unclear whether the governments in Germany, Belgium, Austria and Switzerland will put together another billion-euro aid package for the Lufthansa Group. In any case, it is expected that further tough austerity packages will be introduced due to the renewed deterioration in demand. The travel warnings and quarantine regulations have a particularly negative impact on the opportunities to earn money. At the moment, the European countries are covering each other up. As mentioned: The Lufthansa Group denies the Swiss reporting and points out that the

Continue reading "

Flybe bankrupt before comeback

Granite Pireci 20 October 2020 15:22

Around seven months after the last flight, the actually insolvent regional airline is giving its first signs of life. The carrier could take off again as early as next year. The Covid 19 pandemic finished off the British Flybe, and flight operations had to be suspended on March 4, 2020. Now the company is to be resuscitated by Virgin Atlantic shareholder Thyme Opco, as airlines.de reports. No sum for the takeover was disclosed. The aim is for the airline to make a comeback next year. This would "support jobs, regional connections and the local economy," according to the statement from the liquidators from the management consultancy EY. A spokesman for Thyme Opco told the AFP news agency that the restart would take place "on a smaller scale." He did not provide any more precise information about the number of staff. Flybe was recently one of the largest regional airlines in Europe with more than 2000 employees. 

Continue reading "

HA-LHU: The first Wizzair A330 freighter has arrived

Jan Gruber 20 October 2020 14:36

The Hungarian low-cost airline Wizzair now has a widebody in its fleet. The Airbus A330-200F with the serial number 1578 has the registration HA-LHU. The aircraft was transferred to Budapest on October 18, 2020 and is still painted in the colors of Qatar Airways Cargo. The six-year-old freighter was in service with Qatar Airways until July 15, 2020. However, Wizzair does not operate the widebody on its own account, but on behalf of the Hungarian government. The registration is already on the aircraft. Wizzair itself has repeatedly emphasized that the introduction of this Airbus A330-200F into the fleet does not mean entry into the cargo business. During the lockdown phase, the carrier repeatedly flew masks and other medical materials from China on passenger aircraft with stopovers. According to official statements, the new addition is being operated on behalf of the Hungarian government, which also bears the economic risk for this. The country wants to use the widebody freighter to make itself more independent from international suppliers, because during the lockdown phase it is said to have proven disadvantageous that no Hungarian long-haul freighters were available

Continue reading "

Third quarter: Embraer delivered seven aircraft

Jan Gruber 20 October 2020 14:26

The Brazilian aircraft manufacturer Embraer delivered a total of 28 aircraft in the third quarter of the current year. These were 21 executive aircraft and seven commercial aircraft. The order backlog as of September 30, 2020 amounted to 15,1 billion US dollars. It is also highlighted that the airline Helvetic Airways has converted four remaining firm orders from the Embraer 190-E2 order into E195-E2. So far, five E190-E2s have been delivered to the Swiss airline. Of the remaining seven units, four will be taken over as E195-E2s. These are to be handed over to the carrier by the end of 2021. The deliveries at a glance: Embraer also points out that two used first-generation Embraer 195s were added to Bamboo AIrways' fleet in the third quarter. The Brazilian manufacturer's order backlog at a glance:

Continue reading "

Munich: 3.400 flights planned for the autumn break

Jan Gruber 20 October 2020 14:16

Around 3.400 flights to/from Munich have been registered for the Bavarian autumn holidays. Of these, around 1.000 movements are within Germany. 150 departures have been registered for Italy, around 80 for Greece and around 70 for Turkey. The holidays begin on October 30, 2020 and end on Sunday, November 8, 2020. Even though global travel is severely restricted by the existing restrictions, long-haul connections to the USA and Canada, Delhi, Qatar, Abu Dhabi, Dubai and Seoul are offered from Munich. The operating company points out that masks are still mandatory in the terminals and that this has now been extended to the MAC Forum. Anyone who has forgotten their face mask can also purchase one on site from vending machines, pharmacies and some restaurants. There are currently several facilities available for corona tests at Munich Airport: Travelers arriving at Munich Airport from a risk area and therefore obliged to be tested are automatically directed to the test centers in Terminal 1 or 2. These tests are free of charge. Travelers arriving from a non-risk area also have the opportunity to be tested free of charge at Munich Airport. This Corona Test Center is located in the forum of the Munich Airport Center (MAC) on Level 04. Prior registration is not required. In addition, departing passengers can also be tested for the coronavirus at the airport. The medical laboratory MVZ Martinsried offers corresponding paid tests (128 euros) with its test center in Terminal 2, Level 04. The center is open daily from 5 a.m. to 19 p.m. Appointments can be made in advance online at

Continue reading "

Bavaria suggests possible border closure

Jan Gruber 20 October 2020 14:00

Hungary moved ahead at the beginning of September 2020 and closed its borders again, with a few exceptions. The EU actually wants to prevent such steps, but what Brussels says traditionally interests Viktor Orban little or not at all. Now the Bavarian Interior Minister Joachim Herrmann is also demanding that the Federal Republic should close its borders. The CSU politician expressed himself somewhat cryptically to the newspapers of the Funke media group and suggested that increased border controls could soon be up for discussion again. At the same time, however, they want to keep an eye on commuters. Bavaria recently placed the Berchtesgadener Land district under quarantine. Prime Minister Markus Söder described the process as a "regional lockdown". On the other side of the border, Kuchl was sealed off by the Austrian authorities. German Foreign Minister Heiko Maas (SPD), on the other hand, recently stressed that closing the borders is not an option at the moment. He pointed out that the experience in the spring was not good. The European Union's plans do not include closing internal borders, but nation states can issue quarantine regulations for "red countries" that may or may not be equivalent to closing borders. According to the EU system, almost all of Europe is colored red. Only a few countries still have orange spots. This is precisely the situation that airlines are criticizing, as they believe that the system agreed in Brussels is now outdated and therefore no longer practical.

Continue reading "

New BA boss: Corona tests before departure are needed

Granite Pireci 20 October 2020 12:45

Sean Doyle, the new boss of British Airways, has criticized the government's measures after just a few days in office. Mandatory quarantine is not a long-term solution. Instead, like many of his industry colleagues, the new CEO is calling for the introduction of fast and reliable Covid-19 tests before departure. This is the best way to reassure people and reawaken their desire to travel, as the British Daily Mail reports. In any case, the risk of infection on board is still low. "I will do everything in my power to get British Airways out of this crisis," assures Doyle.

Continue reading "

Covid-19 study shows: travel restrictions make perfect sense

Granite Pireci 20 October 2020 12:30

Travel restrictions. Often labelled as industry killers, a study in 181 countries has now shown that such measures are indeed effective in preventing the spread of corona. According to the study, countries that imposed entry restrictions in February or early March had significantly fewer corona deaths by the middle of the year, according to Handelsblatt. Countries that introduced travel restrictions later or not at all had up to 60 percent more deaths. This makes the claims of the World Health Organization and the EU that the virus "cannot be stopped by closing borders" baseless and evaporate. The opposite is the case. "Travel restrictions should be given much greater weight. This applies to containing impending waves of the current pandemic, but also to similar pandemics in the future," says Ruud Koopmans, director of the Berlin Social Science Center. 

Continue reading "

Navigation

Visit us on

Facebook f X-twitter Instagram LinkedIn Youtube Telegram rss Threads, Google Hm-mail-open Wordpress
login logo

Aviation.Direct is published with love in and