Two Pilots Killed in Aleks-251 Plane Crash Near Moscow

Two pilots have tragically died in a crash involving the Aleks-251 aircraft during a training flight near Moscow. No ground damage or fire reported. Investigation underway.

Pakistan to Sell 75% Stake in PIA by October 2024 with $500M Investment Requirement

The Pakistani government has taken a significant step in its efforts to privatize Pakistan International Airlines (PIA), with final preparations for the sale of a 75% stake in the national carrier now complete. The government aims to conclude the sale by October 2024, marking a crucial milestone in the long-awaited privatization process.

Under the terms of the agreement, the successful buyer will be required to invest $500 million over the next three years to restructure PIA and enhance its financial stability. This investment is expected to play a pivotal role in revitalizing the struggling airline and positioning it for future growth. The move is seen as part of a broader strategy to improve Pakistan's state-owned enterprises and reduce financial burdens on the government.

Air Belgium Faces Financial Struggles After Halting Passenger Flights

Source:airbelgium.com

Air Belgium (KF) is facing a serious financial crisis after halting its passenger flights, leading to a 40% drop in revenues. The airline is currently grappling with an annual loss of €22 million and negative equity of €69 million. Industry experts suggest that the company would need an additional €18 million in financing to recover from this situation.

While an investor has shown interest, government support seems unlikely. The airline's main shareholder, the Walloon Region, has already made a significant investment, but hopes for further assistance are low. Contributing factors to the airline's losses include increased staff salaries and fuel costs, with total losses reaching €92 million as of June 2023.

Qantas Rejects Calls to Sell Jetstar Amid Political Pressure

In response to mounting political pressure, Qantas has firmly rejected the calls from Nationals Senator Bridget McKenzie for the government to have the authority to force the airline to divest its low-cost carrier, Jetstar. Senator McKenzie argued that selling Jetstar would ensure greater competition in the Australian aviation market. However, Qantas remains steadfast in its commitment to retaining its budget airline subsidiary, citing the essential role Jetstar plays in offering affordable travel options for Australians.

Qantas CEO Alan Joyce defended the airline’s stance, emphasizing that Jetstar’s success is integral to the Qantas Group's broader business strategy. The airline insists that any forced divestment could harm competition and affect the availability of low-cost flights for consumers.

WestJet Expands Fleet with Lease of Additional Boeing 737 Max 8s to Boost Capacity

WestJet is expanding its fleet by leasing 3 more Boeing 737 Max 8s from SMBC Aviation Capital, joining the 6 new aircraft announced this summer. This move boosts flexibility and flight capacity, mitigating delivery delays.