Tag: airlines

  • Airlines and Airports commit $35bn to IT system – Report

    Airlines and Airports commit $35bn to IT system – Report

    The 2023 Air Transport IT Insights report by SITA reveals a year-on-year increase in IT spending for Airports and Airlines, reaching an estimated 10.8 billion USD and 34.5 billion USD in 2023.

    Over two-thirds of CIOs anticipate continued growth into 2024.

    Airlines and airports focus on optimizing passenger experience, with 50% implementing IT for efficiency in check-in, bag tag, and boarding.

    Biometrics are gaining popularity, with 70% of airlines expecting biometric ID management by 2026, and 90% of airports investing in related programs.

    CIOs prioritize business intelligence (BI), artificial intelligence, and data sharing for operational efficiency.

    BI is the leading technology investment for airlines, with 73% planning major programs. AI and machine learning, embraced by 97% of airlines and 82% of airports by 2026, aim to leverage data for insights and operational improvement.

    David Lavorel, CEO of SITA, emphasized the role of advanced data tools in uniting stakeholders for efficient, agile responses to disruptions.

    “As we approach a full recovery of passenger demand for air travel, with domestic travel even surpassing pre-pandemic levels in some regions, airlines and airports have learned from the congestion and disruptions seen in the past two years. Advanced data sharing and analytics tools will allow them to unite stakeholders and identify opportunities for greater efficiency and leaner operations. Solutions like total airport management and BI for passenger processing provide airports and airlines real-time insight into the management of assets and passenger flow, allowing for agile, collaborative responses to any disruptions.”

    Sustainability is a key focus, with over 90% of airlines planning IT solutions for emissions reduction by 2026.

    On the airport side, energy management systems are a priority for emissions reduction, with over half planning investment by 2026.

    Airlines and airports aim to achieve net-zero CO2 emissions by 2050, adopting digital tools for accurate monitoring and optimization of energy consumption.

    The research, based on the views of over 250 senior airline and airport executives, covers a quarter of global passenger traffic and was conducted from August to November 2023.

  • Govt reviewing Spanish, Italian airlines’ application to fly directly to Accra – Dept. Transport Minister

    Govt reviewing Spanish, Italian airlines’ application to fly directly to Accra – Dept. Transport Minister

    The Deputy Minister of Transport, Alhassan Tampuli, has revealed that numerous Spanish and Italian airlines have submitted applications to initiate direct flights to Accra by the summer of 2024.

    These revelations came during an interview with JoyBusiness, which followed an event in Accra commemorating Air France’s 90 years of global operations.

    He further clarified that the government is currently evaluating these applications and will make a decision on the subsequent steps in due course.

    “We are in the position to disclose the names because Government is still reviewing the applications,” he added.

    The Deputy Minister of Transport acknowledged that this development has been driven by the increasing demand for flights to Accra from various global destinations. Ghana has become an appealing destination for these airlines due to certain positive developments within the country.

    “One can talk about the Year of Return Programme and Pick up of investor interest in Ghana to explore business opportunities,” the Deputy Minister added.

    The Deputy Minister also emphasized the upswing in many airlines expanding their schedules and flight frequency. He attributed this trend to the favorable government policies that have been put in place.

    “Ethiopian Airlines is increasing its frequency to 10 flights a week, British Airways is also expected to introduce new schedule flights on Accra-Gatwick Rout in added to the Accra – Heathrow,” the Minister added.

    Mr. Tampuli also stated that the government is dedicated to enhancing aviation infrastructure to transform Accra into a regional airline operations hub. Additionally, the Deputy Minister of Transport, Alhassan Tampuli, revealed that significant progress has been made in launching the nation’s planned National Carrier.

    “Government has gone into agreement with a private group and signed a shareholding agreement with them and a new company has been incorporated for this New National Carrier,” he added.

    The Deputy Minister added “We are now waiting for the kind of Aircraft that they will use, for the Ghana Civil Aviation to inspect them and final license to be issued.”

    The Minister was however silent on the timelines for the airline to take off adding that “there are still some due diligence that needs to be undertaken.”

  • ‘Ghana Airlines’ flight availability problematic for Ashanti Airlines – Report

    ‘Ghana Airlines’ flight availability problematic for Ashanti Airlines – Report

    Over a year has passed since Ashanti Airlines, in partnership with the Government of Ghana (GoG), won the bid to establish a new domestic carrier for Ghana. However, Ashanti Airlines, along with its financial partner, Zotus Group, has made little tangible progress in bringing this project to fruition.

    Despite missed target dates in 2022, the government had provided assurances that the new airline, named Ghana Airlines, would initiate ticket sales in April and May 2023, with commercial flights commencing by June or July of the same year.

    Ashanti Airlines, initially holding an Air Carrier License (ACL) but not yet a full-fledged airline at the time of the bid, secured the contract ahead of strong competitors such as Ethiopian Airlines, EgyptAir, and JNH Group, a company with a group net worth exceeding $1.5 billion but lacking an Air Carrier License (ACL) and an Air Operator’s Certificate (AOC).

    Although Ashanti Airlines had demonstrated early enthusiasm in the acquisition of an AOC from the aviation sector regulator, the Ghana Civil Aviation Authority (GCAA), it has faced prolonged delays in the process, stretching back to the previous year, according to a well-informed source cited by Aviationghana.com.

    With just around 14 months remaining in the Nana Akufo-Addo-led government’s tenure, there is a growing urgency to address the nearly seven-year-long pursuit of a new national flag carrier.

    Kwame Governs Agbodza, the Minority Chief Whip and Member of Parliament for Adaklu Constituency in the Volta Region, feels his earlier skepticism is justified: “When it was awarded to Ashanti Airlines, I warned them that this would not succeed because they lack the expertise. Running an airline is not akin to buying an expensive car and parking it in your driveway.”

    Ghana has been without a national airline since the collapse of Ghana International Airlines in 2010, following the earlier demise of Ghana Airways in 2004. Successive governments since 2010 have attempted, albeit unsuccessfully, various approaches to establish a new flag carrier.

    Given Ghana’s reputation as one of Africa’s stable democracies and business-friendly nations, the quest for potential partners in this venture has garnered interest from some of the industry’s most reputable names over the past decade.

    Lufthansa, Qatar Airways, Ethiopian Airlines, EgyptAir, Airbus, Boeing, South Africa Airways, Embraer, and others have all, at one point or another, expressed interest in collaborating with the GoG on this project.

    Ethiopian Airlines, set to become the largest international carrier servicing Accra’s Kotoka International Airport with 14 weekly flights starting from October 29, 2023, may offer a mutually beneficial solution to Ghana’s quest for a new flag carrier. Mr. Lemma Gudeta, the Chief Commercial Officer of Ethiopian Airlines, indicated in an interview with AviationGhana.com in Accra, Ghana, that his company would be open to revisiting discussions about the project if the Government of Ghana invites them back to the table.

    “Yes, we used to engage with the Government of Ghana for the establishment of a national carrier here. We participated in a bid and we were one of the companies shortlisted to go for further discussion. There were issues that happened in between, but Ethiopian Airlines feels that it is our national obligation as an African carrier to support any start-up national carriers in Africa.

    Therefore, whenever the Ghanaian government is ready, and if they believe that Ethiopian Airlines can make a difference, we will be more than happy to assist, because it’s not about business or commercial venture. It is all about making Africa self-sufficient in air transport, therefore it is strongly our obligation, and we will be more than happy to be part of the journey that the Ghanaian government is going to do in establishing the national carrier.”

  • Airlines should disregard $7 Fumigation fees – Minority

    Airlines should disregard $7 Fumigation fees – Minority

    The Minority in Parliament is raising concerns about the government’s implementation of a $7 charge on airline tickets, signaling the need for attention and action.

    The Minority describes the charge as illegal as it is only Parliament that can impose fees and charges.

    Sources indicate that the Ghana Health Service (GHS) is impressing on airlines to add $7 per passenger on each international airline ticket sold and remit the same to government agency as a luggage fumigation charge.

    AviationGhana sources revealed that the decision of the GHS was conveyed by the Ghana Airports Company Limited to airlines servicing Accra’s Kotoka International Airport at a meeting held on Thursday, June 22, in Accra.

    Speaking to JoyNews, Minority Chief Whip and Ranking Member on the Roads and Transport Committee Governs Kwame Agbodza urged airlines to disregard the directive from government to charge that amount.

    “The stakeholders have been unhappy about it, the airlines feel this will make their work even more difficult knowing that after COVID, many airlines and related businesses are still struggling to recover.

    “You’d realize that airline tickets are still considerably high. To charge this amount for fumigation of bags is an absurdity. We are not going to accept this.

    “No agency of government has the right to impose additional charges without the knowledge of Parliament and I encourage airlines to disregard this for now until we all come to the conclusion that this is relevant,” he said.

    Governs Kwame Agbodza also explained that Parliament had been completely sidelined in the imposition of the charge insisting the relevant committee in Parliament, the Roads and Transport Committee was not privy to the charge.

    The Minority Chief Whip also claimed this an avenue by some government officials to steal from the ordinary Ghanaian even in these challenging economic times.

    “I’ve never seen anything like fumigation of bag charge before, in any case, what is the meaning of fumigation of bags that you’re going to charge passengers US$7?

    “What kind of chemicals are you going to use? What kind of contamination are we talking about? This is a very unnecessary attempt to basically take close to $15 million from passengers.

    “This is not the time, the airlines are struggling, people are squeezed, we should not be making life difficult for the airlines and the passengers”, he stressed.

    The Minority say they will in the coming days push for the full details to be brought to Parliament and do everything necessary to prevent the imposition of what they are calling an illegal charge.

  • Airlines must innovate to win back consumer confidence — Dr. Kobby Mensah

    Heavily impacted by the COVID-19 pandemic, airlines must innovate in all facets of their business to win back consumer confidence, Dr. Kobby Mensah, Senior Lecturer, University of Ghana Business School, has said.

    International airlines servicing the Kotoka International Airport have lost an estimated US$500m in potential revenue since the outbreak of the COVID-19 pandemic in the country forced the closure of land, air and sea borders in March.

    Business24 sources say the borders are expected to remain closed until mid-August, when a decision to re-open or otherwise will be taken by government.

    However, the dampened consumer confidence, which is projected by the International Air Transport Association (IATA) to last well into 2021, means that operators will have to do more to stimulate demand, if pre-COVID-19 passenger numbers are to be realised within the next two years.

    Dr. Mensah said there is “low consumer confidence both consumer and [the] business to business (B2B) market.”

    He said airlines will have to examine their target market, product/service offering, price, and distribution channels.

    “In respect of the target market, airlines will have to focus on passengers for whom travel is an essential part of their business—such as business travellers and other events travellers.

    “Airlines ill need to modify their product and services to address these issues. There will be the need to modify purchase processes—encourage online booking and check-in, use of basic testing such as temp guns, etc.”

    Dr. Mensah, who is also a tourism consultant, noted that product bundling with other needs of customers such as accommodation providers is imperative to reduce the burden of cost on customers.

    With the expected heightened competition among players when the skies are reopened, he reckons airlines must adopt various loyalty promotion schemes to recapture their share of the market.

    “Loyalty pricing, promotion pricing, bundling pricing, and credit facilities with some financial services arrangements, as well as the use of digitisation—ecommerce, mobile marketing for booking and check-in. Operators must use incentives to encourage more of this to reduce drastically human contact. This will even cut down on operation cost,” he said.

    Source: thebusiness24onlinne.net

  • U.S. air passengers fell 96% in April to historic low: government

    U.S. airlines carried 3 million passengers in April, a staggering 96% decline amid the coronavirus pandemic and flight restrictions, the Transportation Department said Wednesday.

    The department said U.S. airlines carried about 2.8 million domestic passengers and 132,000 international passengers. International passengers fell 99% over April 2019 as the U.S. imposed flight restrictions on many international visitors.

    Total U.S. airline passengers were the lowest since 1974 when the government began collecting monthly data. By comparison, there were 76.1 million total U.S. airline passengers in April 2019.

    Source: Reuters

  • Contact tracing, temperature checks and masks: airline industry outlines new norms

    Airlines and airports are recommending a layered approach to temporary safety measures as air travel restarts, warning that no single measure can mitigate all of the risks during the pandemic, according to a briefing document seen by Reuters.

    The plan laid out by the International Air Transport Association (IATA) and Airports Council International to reassure governments it is safe for the public to fly includes contact tracing, temperature screening, social distancing, extra cleaning and wearing masks.

    “Successfully restarting air passenger travel while restoring confidence in the safety of air travel are vital pre-requisites to enabling the global economy to recover from COVID-19,” the groups said in the document, which has not been made public. “In normal times, aviation delivers $2.7 trillion in global GDP contribution.”

    IATA and ACI declined to comment specifically on the document but both said they were working with industry partners on a consistent global approach.

    Many airlines and airports around the world are implementing measures such as requiring masks and leaving middle seats empty, in some cases due to government requirements.

    The industry supports reliable COVID-19 testing, but at the moment virus and antibody tests are not a viable solution at airports and there is no confirmed evidence yet that antibodies confer immunity, according to the IATA and ACI document.

    Should health-screening measures be necessary, it should be done long before passengers arrive at the airport, the document said.

    Temperature checks on airport entry and exit are not likely to prove 100% effective because they may miss mild cases and those in the incubation period, but the measures could play a useful role in reassuring passengers and deter travel in the case of suspected infections, according to IATA and ACI.

    Social and physical distancing should be limited to the initial restart phase because the measures will cap airport and aircraft capacity once travel demand grows, the document said.

    Security and health screenings should be mutually recognised when possible so that transfer passengers do not need to line up and be re-screened, leading to additional human contact, IATA and ACI said.

    “There is currently no single measure that could mitigate all the risks of restarting air travel,” the document concluded.

    “However, we believe that an effective implementation on an outcome basis and layered approach, of the above-mentioned range of measures that are already possible, represents the most effective way of balancing risk mitigation with the need to unlock economies and to enable travel in the immediate term.”

    Source: reuters.com

  • Air fares face turbulence when flights slowly restart – IATA

    Air fares should fall when flights restart but then rise by at least 50%, warns a global airline industry body.

    Airlines are keen to get planes back in the skies quickly which could lead to over-capacity, says the International Air Transport Association (IATA).

    With passenger demand likely to remain low this should put pressure on carriers to reduce the cost of flights.

    But if airlines are forced to keep middle seats free they will need to raise air fares significantly.

    Under current social distancing proposals, airlines may be required to keep middle seats free which would have a major impact on their profitability, as they would be forced to fly with fewer passengers. Michael O’Leary, the boss of Ryanair, said keeping middle seats empty was “idiotic”.

    IATA estimates that only four of the 122 airlines it sampled would be able to break even under these conditions, leading to consolidation in the industry. Raising fares is “inevitable” for carriers to remain commercially viable.

    Most airlines are already struggling with the severe downturn in passenger numbers with the vast majority of their planes grounded.

    On Tuesday, Virgin Atlantic said it would cut more than 3,000 jobs and end its operations at Gatwick Airport. Last month, Virgin Australia went into voluntary administration and analysts fear other airlines will follow.

    “It’s tricky to understand how many airlines will be able to operate profitably. It will be a much smaller industry,” said Brian Pearce, Iata’s chief economist, talking about the onboard social distancing proposals.

    His team argues that social distancing through vacant middle seats is no guarantee against the spread of coronavirus on planes. Instead, Iata supports the wearing of face masks by passengers for safer flying.

    The ray of hope for passengers is that they could see cheaper fares once flights resume as carriers attempt to stimulate demand.

    Airlines will only be able to increase air fares once passenger numbers recover, but this will only be by 2021 at the earliest, estimates IATA.

    Source: bbc.com

  • Iranian airline fuelled virus spread in Middle East

    An Iranian airline with links to the country’s Revolutionary Guards fuelled the spread of the virus in the Middle East, a BBC investigation has found.

    Mahan Air flew infected passengers from Iran to Lebanon and Iraq – leading to the first official cases in both countries.

    Sources within Mahan Air told the BBC that cabin crew were silenced by the airline when they tried to raise concerns about its handling of the virus and the lack of protective equipment.

    Flight tracking data also shows that the airline repeatedly flew to China despite a flight ban by Tehran.

    Mahan Air has refused to comment.

    Source: bbc.com

  • Coronavirus: How will airlines get flying again?

    Aviation is the most global of global industries. It employs millions of people, underpins the livelihoods of tens of millions more, and acts as part of the central nervous system of international business and leisure.

    Yet now vast parts of the network have been shut down as a result of the coronavirus pandemic. The number of daily flights has fallen by 80% since the start of the year, and in some regions nearly all passenger traffic has been suspended.

    The industry is in survival mode, with airlines, airports and ground-handling firms all desperate to conserve their cash reserves, while their normal revenue streams have dried up.

    Widespread job losses are now expected, with British Airways’ parent company IAG announcing on Tuesday that it is set to cut up to 12,000 positions from the airline’s 42,000-strong workforce. IAG said it did not expect BA to see passenger demand return to 2019 levels for “several years”.

    Elsewhere, Easyjet has laid off its 4,000 UK-based cabin crew for two months, Qantas has put 20,000 staff on leave, and 700 pilots at American Airlines have agreed to take early retirement.

    Even so, attention is now gradually turning to the future, and how airlines around the world can hope to slowly return to something approaching normality.

    There are obvious logistical challenges. Aircraft need to be prepared for flight, and airports made ready to receive them. Schedules need to be drawn up, and staff made available.

    But there are also less predictable issues to contend with. No-one can be quite sure yet where aircraft will be allowed to fly to, or what conditions might be imposed on staff and passengers by national authorities.

    There are currently around 17,000 aircraft parked up at airports around the world, according to consultants Ascend by Cirium. That represents about two-thirds of the global fleet.

    BA, for example, has aeroplanes stored at London Heathrow, at its maintenance base in Cardiff, on taxiways at regional airports such as Bournemouth, and at Chateauroux airport in France.

    Even while parked, these aircraft require regular maintenance. Some will have been kept ready for immediate use. Many airlines have been carrying out repatriation flights, for example, or ad-hoc cargo services. But others will take a week or longer to prepare for flight, according to people within the industry.

    If all those aircraft were needed at once, getting them ready would be a formidable challenge. However, analysts say in practice this is unlikely to be the case – because most airlines will start off by operating relatively limited schedules, and many aircraft will not actually be needed for months to come.

    A further significant issue is the raft of human qualifications needed to allow the industry to function.

    Pilots, for example, need time in the air, or in the simulator, to maintain their “ratings”, or permits to fly specific aircraft. They also need regular medical checks. Other critical staff, such as air traffic control personnel and engineers, have time-limited qualifications as well.

    Although many airlines and airports are trying to ensure they still have a core of staff available with up-to-date certificates – those who are involved in dealing with repatriation and cargo flights, for example – others have been unable to continue working.

    In the UK, the Civil Aviation Authority (CAA) has already taken steps to prevent a backlog of expired credentials from undermining attempts to get planes back in the air as quickly as possible.

    “Due to the extraordinary current circumstances, an exemption has been put in place,” a spokesperson said.

    “Where possible, we expect pilots to remain current through normal methods. If the exemption is being deployed, an airline must illustrate to us how this is being done safely.”

    Similar measures have been put in place for other key staff.

    But while there are clear logistical problems involved with getting thousands of aircraft back into service, and ensuring there are enough pilots and technicians to go around, these are not the main issues keeping aviation executives awake at night.

    The real problem, executives say, is the number of different countries that have introduced travel restrictions, and the lack of certainty over when those restrictions will be removed.

    “What we are trying to do is have a global restart plan,” explains Alexandre de Juniac, director general of the International Air Transport Association. “The main challenge is how and when the different states will lift restrictions to travel.”

    He believes curbs on travel will clearly last beyond the middle of the year, and some may remain at least partially in force until the end of 2020.

    He thinks domestic routes within individual countries will open up first, followed by short-haul international services. Intercontinental travel would probably follow after that, although he admits “that is a point we haven’t resolved yet”.

    One area causing a great deal of uncertainty is the extent to which social distancing will be required when regular flying resumes.

    How will people be separated in airport lounges, in security queues, or in the airports themselves? What tests will be required, and how will they be carried out?

    This is a commercial issue for both airports and airlines. For example, retail outlets and restaurants provide a lucrative source of revenues for airport operators.

    “Non-aeronautical revenues are really important to airports,” says Karen Dee, chief executive of the Airport Operators Association.

    “They enable us to keep down the charges we make to airlines, and ultimately that affects the ticket prices they can offer their customers.

    “We don’t want to reconfigure everything in our airports, only to find out in six months’ time there’s a vaccine and the new measures aren’t needed any more.”

    IATA’s argument is that whatever measures are introduced need to be the same and implemented in a co-ordinated fashion.

    “We need to avoid the kind of situation that followed 9/11,” says Mr de Juniac. “Back then we saw a piling up of different kinds of security measures, and it took a very long time to put it together again in a more consistent way. And we still have different measures.”

    Airlines too could be squeezed. Lufthansa is already operating services where middle seats are left unoccupied in order to allow a certain degree of social distancing on board. EasyJet – which has grounded its entire fleet – says it will do the same when it resumes flying.

    As a short-term measure, this might help passengers fly with a little more confidence. But it comes at a serious cost.

    In order to make money, airlines need as many seats as possible to be filled on every flight. “Load factors” are particularly important for budget carriers, which typically fly with more than 90% of seats occupied.

    But if middle seats are left unoccupied, aircraft will have to fly just 65% full. This might be acceptable for a short period, but according to Mr De Juniac, if it went on for long, “it would certainly change the way in which the industry operates”.

    Ryanair’s CEO Michael O”Leary has put it more succinctly, describing the idea as “idiotic”.

    In the UK the government is considering forcing all passengers arriving in the country to spend two weeks in quarantine.

    The industry association Airlines UK says such a plan would “effectively kill international travel to and from the UK, and cause immeasurable damage to the aviation industry and wider UK economy”.

    Getting aircraft back in the air may prove to be the easy part. Finding people to fly in them could prove more difficult – and some long-term changes to the aviation market are highly likely.

    Source: bbc.com

  • U.S. Treasury releases US$2.9 billion in airline support, finalizes payroll agreements

    The U.S. Treasury Department said on Monday it had disbursed $2.9 billion in initial payroll assistance to 54 smaller passenger carrier and two major passenger airlines, while it finalized grant agreements with six major airlines.

    The Treasury is initially giving major airlines 50% of funds awarded and releasing the rest in a series of payments. In total, Treasury is awarding U.S. passenger airlines $25 billion in funds earmarked for payroll costs.

    Major airlines must repay 30% of the funds in low-interest loans and grant Treasury warrants equal to 10% of the loan amount, while airlines receiving $100 million or less do not need to repay any funds or issue warrants to the government.

    Treasury said on Monday it had finalized grant agreements with Allegiant Air, American Airlines Group Inc, Delta Air Lines Inc, Southwest Airlines Co, Spirit Airlines Inc, and United Airlines Holdings Inc.

    Air carriers have been devastated by the coronavirus pandemic and seen U.S. travel demand fall by 95%.

    Southwest said it would receive half of the $3.2 billion payroll award immediately and the remainder in installments during May, June and July.

    Separately, Treasury said Alaska Airlines, Frontier Airlines, Hawaiian Airlines, JetBlue Airways Corp and SkyWest Airlines had also indicated that they planned to participate. The 12 major airlines represent nearly 95% of U.S. airline capacity.

    Airlines receiving funds cannot lay off employees before Sept. 30 or change collective bargaining agreements and must agree to restrictions on buybacks, executive compensation and dividends.

    Treasury is now considering separate requests for additional assistance from another $25 billion loan fund for passenger airlines. United said on Monday it was seeking $4.5 billion in loans from the program, while American said last week it was applying for a $4.75 billion loan under that program, and Alaska and Horizon said they were applying for $1.1 billion in loans.

    United said on Monday it expected to cut passenger capacity by 90% in June.

    Treasury is still considering how to award $4 billion in payroll assistance to cargo carriers and $3 billion to airport contractors like airplane caterers.

    Estimated global airline losses from the coronavirus pandemic have climbed to $314 billion, 25% more than previously forecast, the International Air Transport Association said last week.

    Source: reuters.com

  • United Airlines sees first-quarter $2.1 billion pre-tax loss on coronavirus impact

    United Airlines (UAL.O) said on Monday it expects to report a pre-tax loss of about $2.1 billion for the first quarter, hurt by a precipitous drop in travel demand from the coronavirus pandemic.

    The U.S. carrier said it expects to borrow up to about $4.5 billion from the U.S. Treasury Department for a term of up to five years. (bit.ly/2RT2r9h)

    That money would come on top of $5 billion that United is set to receive from a separate government aid package specifically for its employee payroll.

    The pre-tax loss reflects $63 million of special charges, including a $50 million impairment for its routes in China, where the coronavirus first started to affect travel in January.

    United also wrote down the value of its investments in Brazilian carrier Azul Linhas Aereas Brasileiras and allowed for a $697 million expected credit loss related to its investment in Avianca Holdings (AVT_p.CN) in Latin America.

    Chicago-based United said it only plans to fly about 10% of its normal schedule in May and June.

    Source: reuters.com