A very sad time for a 100 year old industry. (Airlines)

by Alfredo_av

– Virgin laid off more than 3,000 people, including 600 pilots.

– Virgin Australia files for bankruptcy.

– Air Mauritius entered administration proceedings

– _ South African Airways_ is bankrupt.

– Finnair returned 12 planes and laid off 2,400 people.

– YOU parked 22 planes and laid off 4,100 people.

– Ryanair parked 113 aircraft and “dumped” 900 pilots at the moment, 450 more in the coming months.

– Norwegian has completely discontinued its long-distance activity !!! The 787 were returned to the lessors.

– SAS returned 14 planes and sacked 520 pilots … The Scandinavian states are studying a plan to liquidate Norwegian and SAS to rebuild a new company from their ashes.

– Ethiad canceled 18 A350, 10 A380 and 10 Boeing 787 orders. It laid off 720 employees.

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– Emirates parked 38 A380s and canceled all orders for the Boeing 777x (150 aircraft, the largest order of its kind). The company “invites” all employees over 56 to retire.

– Wizzair returned 32 A320s and laid off 1,200 employees, including 200 pilots, another wave of 430 planned layoffs in the coming months. The remaining employees will have their wages reduced by 30%.

– IAG (parent company of British Airways) abandons the acquisition of Air Europa (and will pay compensation of € 40 million for it).

– IAG Park (Iberia) 56 aircraft.

– IAG (British Airways) parked 34 planes. All employees over the age of 58 must retire.

– Luxair reduced its fleet by 50% (and associated layoffs)

– CSA has abolished its long-distance sector and maintains only 5 medium distance aircraft.

– LGW (who operated on behalf of EuroWings), filed for bankruptcy.

– Brussels Airlines reduced its fleet by 50% (and associated layoffs).

– Lufthansa plans to park 72 planes (in two installments).

– Hop is studying the possibility of reducing its fleet and personnel by 50%.

*Additional Information:

There are currently 60 new aircraft stored on Airbus with no buyers in sight (order cancellations), including 18 A350s.

They hope to have a minimum of 8,000 planes parked by September. With an average of 5.8 crews per plane (medium and long haul combined), this will cause more than 90,000 unemployed pilots worldwide.

 

 

Disclaimer: This information is only for educational purposes. Do not make any investment decisions based on the information in this article. Do you own due diligence.