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August 14, 2024

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August 14, 2024

Discover concludes collective agreement with Verdi

Amely Mizzi August 14, 2024 08:05

Discover Airlines and the Verdi union have agreed on a comprehensive collective agreement for the approximately 500 cockpit and 1.400 cabin employees. This agreement, which will apply from July 1, 2024 to the end of 2027, represents the first collective bargaining agreement for the airline, which has been operating since 2021. The agreement includes, among other things, annual salary increases of 5 percent from May 2025, the introduction of annual special payments, as well as improved planning of leisure time and more stable scheduling for employees. The CEO of Discover Airlines, Bernd Bauer, emphasized the importance of this agreement for the airline, but also pointed out the associated costs and restrictions. The negotiations were described as intense but ultimately constructive.

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Motor Sich: Ukraine suspends foreign debt repayments

Jan Gruber August 14, 2024 07:33

The geopolitical tensions and economic turmoil triggered by the Ukraine conflict have reached a new low, with far-reaching implications for international investors. In particular, Beijing Tianjiao Aviation Industry Investment Co, also known as Skyrizon, is in the spotlight as it faces significant difficulties in enforcing its financial claims against Ukraine. The Ukrainian government's decision to suspend all foreign debt repayments until October significantly exacerbates the situation for the Chinese investment company. In 2016, Beijing Tianjiao Aviation Industry Investment Co. acquired 56 percent of the shares in Ukrainian engine manufacturer Motor Sich. This acquisition was intended to enable the Chinese company to gain access to key technologies in the field of aircraft engines and play a significant role in the global aviation industry. But the investment quickly proved controversial. In 2019, the Chinese investors filed anti-monopoly documents with the Ukrainian authorities that would pave the way for the final takeover. But the situation escalated when the Ukrainian security service seized the Chinese shares and imposed sanctions on the Chinese companies and their co-owner Wing Jin. Ukraine imposed sanctions and nationalized Motor Sich in March 2021, resulting in a significant financial burden for Beijing Tianjiao. Ukraine suspends foreign debt repayments In a surprise move, Ukraine under President Volodymyr Zelensky signed a decree on August 1, 2024, suspending all foreign debt payments until October 1. This measure was introduced as part of a comprehensive restructuring agreement with major bondholders to prevent an impending default in July. The decision to suspend foreign debt payments,

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June 2024: German airports with 20 million passengers

Jan Gruber August 14, 2024 07:04

In June 2024, German airports recorded a passenger volume of just under 20 million, a slight increase of 250.000 passengers compared to May. However, compared to the pre-crisis year of 2019, the volume is still 15,6% lower. Domestic German traffic is particularly affected, reaching just under half of the pre-crisis level. Despite the ongoing recovery, growth in international air traffic in June remains below expectations, also due to the start of the summer holidays and Euro 2024. Air freight recorded moderate growth of 1,9% year-on-year in June, with loads in particular increasing. The first half of 2024 shows a cautious recovery overall, with a growth rate of 10,2% compared to the same period last year, but the recovery remains below expectations compared to other European countries.

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Air travel in Germany: A summer full of challenges and opportunities

Amely Mizzi August 14, 2024 06:39

The summer of 2024 shows that Germans' desire to travel by air is unbroken. As the latest figures from the Airports Association ADV show, flying is still very popular, even though the industry is struggling with considerable hurdles. This year's summer travel season brought strong demand, but the challenges posed by rising regulatory costs and a decline in the expansion of flight offerings cast a shadow over the positive development. In the 31st calendar week (week 31) of 2024, an impressive 4,88 million passengers were counted at German airports. This peak marks the high point of the summer travel wave, comparable to the figures from 2019. Nevertheless, passenger volumes this year are 13,6 percent below the 2019 level, which corresponds to a recovery rate of just 86,4 percent. This is particularly worrying as the recovery in Germany is much slower than in other European countries. The European aviation industry has already started to avoid German airports due to the high regulatory costs. These costs include not only the increased air traffic taxes, but also the aviation security fees, which were raised in May 2024. The additional fee increase planned for early next year will further drive up costs and could further affect the competitiveness of German airports. The consequence is rising airfares and a further reduction in the range of destinations offered by German airports. Regulatory burdens and their impact The high regulatory costs, including the air traffic tax and security fees, represent a significant burden for the aviation industry. While airport charges have increased moderately, these increases may

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Travelcoup has Embraer 135 stationed in London

Amely Mizzi August 14, 2024 06:03

The semi-private air travel operator Travelcoup has added a second Embraer ERJ 135 to its fleet, expanding its capacity. The aircraft is now based in London and is initially available for full charter flights. In the long term, the company plans to fly to other destinations in Europe and add a third jet by 2025. The new ERJ 135 offers 16 first-class seats in a 1-1 configuration, meaning every passenger sits both in the aisle and by the window. In addition to luxurious comfort, travelers benefit from reduced waiting times thanks to the use of general aviation terminals. The provider stands out with its special "Empty Leg" offer, which avoids empty flights by offering individual seats on certain routes at reduced prices. The company's first jet, an Embraer ERJ 145, continues to regularly serve the Balearic Islands of Mallorca and Ibiza from Munich and Zurich.

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Decline in traditional assignments: New trends in international mobility

Amely Mizzi August 14, 2024 05:33

In the globalised economy, companies are increasingly faced with complex challenges when it comes to sending their employees abroad. A recent report by Aon plc, a leading international consulting company, shows a significant decline in traditional assignments and provides insightful insights into the trends and challenges accompanying this development. The study, which includes data from 37 countries, including 82 percent from the EMEA region (Europe, Middle East and Africa), offers valuable information on the current movements and strategies in the area of ​​international staff mobility. Aon's study shows that the number of traditional assignments of employees abroad is declining, which is mainly due to rising costs and a lack of talent. The most important influencing factor, cited by 51 percent of the companies surveyed, is the increase in costs due to inflation. This issue, which already played a significant role last year, has become more severe and now ranks first among the challenges. Rising inflation is driving up the cost of international assignments, forcing many companies to rethink their strategies and look for more cost-effective solutions. In addition to costs, the global skills shortage is a significant challenge. 49 percent of companies see this as a key factor influencing their international mobility strategies. Competition for highly qualified workers is forcing many companies to look for employees abroad. This has led to an increase in the importance of cross-border HR strategies aimed at meeting this challenge. Innovative working models such as "workation" (a combination of work and vacation) and "bleisure" (a combination of business travel and leisure)

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Virgin Australia orders eight Embraer E190-E2s

Jan Gruber August 14, 2024 05:02

Virgin Australia has ordered eight fuel-efficient E190-E2 narrow-body aircraft from Embraer, to be delivered from the second half of 2025. The new jets, which will complement the existing fleet and replace the older Fokker aircraft, feature 30% lower fuel consumption and lower emissions. The E190-E2 will be used primarily in charter operations for Virgin Australia Regional Airlines (VARA) and will be based in Perth. This order underlines Virgin Australia's commitment to a greener and more efficient fleet strategy.

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The Americans are coming

guest Author August 14, 2024 04:33

At the end of their holiday, many travellers to Greece think: "It was great". Some may want to stay there "at some point", like STS did. But is the "feeling of life" that you "inhale there" really that great? Young Greeks think differently. Setting up a (second) home on an island is not that difficult. Lots of people do it on Spanish islands, and the internet is full of more or less clever tips for emigrating. Whether it makes sense is another question. And thank God there are no huge second home complexes like those in Spain that are simply thrown together without any consideration for appearance or the environment (often without permits). Anyone who has ever been to one of the Aegean islands in winter, which are so beautiful in summer, will quickly lose the desire to stay for a longer period of time: it is cold, windy, drafts everywhere, almost everything is closed, the sea is unwelcoming and absolutely nothing, but really nothing, is going on. Dramatic population growth Young Greeks have a very distant relationship with their country. The motto is to get out of here as quickly as possible. Since 2013, up to 100.000 people (in some years even fewer), mostly young people with good education, have left the country every year because of the lack of prospects and low earning potential. This brain drain means new problems for Greece: the state pays for people's education, but does not benefit from it. These qualified workers are missing in the country. While it used to be the Albanians or North Macedonians who came to work, they are now increasingly looking for better-paid jobs

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Air Baltic orders ten more Airbus A220-300s

Amely Mizzi August 14, 2024 04:02

Latvian airline Air Baltic has placed an additional order for ten more Airbus A220-300s, bringing its total order to 90 aircraft of this type. Air Baltic, which already has almost 50 A220-300s and has operated an all-A2020 fleet since 220, is thus consolidating its position as the largest A220 customer in Europe and worldwide. The airline plans to expand its fleet to almost 100 A220-300s, which, according to CEO Martin Gauss, underlines the confidence in the A220 program. Airbus has already received over 900 orders for the A220 worldwide, of which around 350 have been delivered.

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