[ad_1]
Burundi reopens for international flights
16.11.2020 – 06:08 UTC
Several airlines have resumed their services to Bujumbura after Burundi reopened for international flights on November 8, 2020, after having been closed for more than seven months to restrict the spread of COVID-19.
According to the ch-aviation schedule module, the first airline to return was Uganda Airlines (UR, Entebbe / Kampala), which resumed weekly services from Entebbe / Kampala 3 times from 8 November. Kenya Airways (KQ, Nairobi Jomo Kenyatta) followed closely. behind with 3 weekly flights from Nairobi Jomo Kenyatta on 9 November.
Brussels Airlines (SN, Brussels National) is scheduled to re-establish weekly service from Brussels National on November 17. Ethiopian Airlines (ET, Addis Ababa) resumed twice weekly cargo flights from Addis Ababa on November 10 and will resume daily passenger services from November 18. RwandAir (WB, Kigali) will return with 4 weekly flights from Kigali on December 2.
According to an announcement made by the Burundi government spokesman, Prosper Ntahorwamiye, on national radio and television, strict health protocols are required. Arriving and departing …
Brussels Airlines to accelerate restructuring in time for 2021
13.11.2020 – 05:26 UTC
Brussels Airlines (SN, Brussels National) will accelerate its restructuring efforts under the name Reboot Plus, which will now be 90% complete by the end of the year, it said in a statement on November 5. This implies a 30% reduction in the fleet and a 25% lower workforce.
Belgium’s national carrier will boost Reboot, which was initially launched in the third quarter of 2019, through “various short and long-term measures” to reduce variable and fixed costs to counter the effects of the coronavirus crisis. The recovery plan, which according to the airline had been “agreed with the social partners and is in full implementation”, “will lay the foundations for a sustainable future for the company.”
The number of airline employees “had already fallen 14% compared to 2019” at the end of September, the statement details, but due to the volatile and unpredictable situation around the world, it was unable to make workforce forecasts for 2020. as a whole.
The plan will allow the airline to “start 2021 as a more agile Brussels Airlines,” said CEO Dieter …
Lufthansa issues € 600 million bonds and saves € 200 million in personnel costs
13.11.2020 – 02:54 UTC
Lufthansa (LH, Frankfurt Int’l) launched an offering of senior unsecured convertible bonds on November 10 for EUR525 million (USD618 million) due in November 2025, before increasing it to EUR600 million (USD706 million) later. on the day due to high demand and altering the conditions in your favor.
The bonds, which have a denomination of EUR100,000 (USD118,000) each, have a coupon rate that Lufthansa reduced from 2.25% to 2.75% per annum to between 2% and 2.25%, payable semiannually for past due months. The transaction, he said, was more than six times more underwritten.
“The company thus further strengthens its liquidity,” it said in the statement announcing the bonds, adding that it plans to use the proceeds for general corporate purposes.
The bonds will be convertible into new or existing shares. Lufthansa also adjusted the initial conversion price, from 30% to 35% above the reference price of the share to 40%.
The company claimed it still had EUR10.1 billion (USD11.9 billion) in cash at its disposal as of September 30, including stabilization measures that have been …
