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The International Air Transport Association (IATA) has released a new financial outlook for the global aviation sector, showing heavy weather ahead. In total, the body now expects airlines to lose $84.3 billion in 2020, with a net profit margin of -20 per cent. Revenues will fall 50 per cent, down to $419 billion from the […] More
The International Air Transport Association has released its latest analysis showing the airline industry’s global debt could rise to $550 billion by year-end. That is a $120 billion increase over debt levels at the start of 2020. Some $67 billion of the new debt is composed of government loans ($50 billion), deferred taxes ($5 billion), […] More
The Competition & Markets Authority (CMA) has widened an investigation into unfair refund policies to include package holidays. The government body last month said it would examine concerns over cancellation policies across the hospitality industry. With airlines and travel agents in some cases offering vouchers instead of the cash refunds consumers are legally entitled to, […] More
Richard Branson is reportedly to sell a stake in Virgin Galactic to raise $500 million to prop up his other businesses. He currently owns 55 per cent of the venture, and is thus likely to lose his controlling interest. The colourful tycoon has come into criticism in the UK for seeking government support instead of […] More
The UK Civil Aviation Authority has toughened its line on airline refunds as questions continue to grow. The aviation watchdog warned airlines they are legally required to provide refunds to customers who had their flights cancelled because of the coronavirus. Last week the Competition & Markets Authority launched an investigation into refunds across the economy […] More
Stephen Hillier has been selected as the next chairman of the UK Civil Aviation Authority. The former head of the Royal Air Force is the preferred candidate of transport secretary Grant Shapps. He will hope to balance airlines’ immediate needs resulting from reduced passenger demand in the wake of the coronavirus pandemic, with consumer issues […] More
Following a piecemeal introduction around the world, the International Air Transport Association has said it supports the wearing of face coverings for passengers and masks for crew while on board aircraft. The body said the move was a critical part of a layered approach to biosecurity to be implemented temporarily when people return to traveling […] More
The International Air Transport Association has announced Sebastian Mikosz will join the organisation as senior vice president for member and external relations. The appointment will take effect on June 1st. Most recently, Mikosz was group managing director and chief executive of Kenya Airways (2017-2019), during which time he served on the IATA board of governors. […] More
