More Losses for Mexico’s Airlines?

This week, Mexican airlines took a hit after more restrictions were implemented in the aviation sector, with Aeroméxico reporting further losses after a troublesome 4Q20. These problems are arising as airlines continue dealing with the fallout of the COVID-19 pandemic.

US giants Boeing and Pratt & Whitney are in the spotlight after in-flight engine failures dropped debris in residential neighborhoods. Boeing recommended pausing operations of one of the aircraft involved. In other news, a Czech airline is planning to fire all of its employees to face pandemic losses and an airport in Europe saw a 73 percent decrease in traffic year-on-year. When will this sector recover?

This and more in your weekly aerospace roundup!

Top MBN

Mexican Airlines’ Stocks Take a Hit

The pandemic has taken a toll on the Mexican airline sector, with the stocks of many airlines showing a remarkable decrease after more travel restrictions were implemented. Mexican airlines are now US$36.2 million in debt. Read more here!

Boeing, Pratt & Whitney in the Spotlight After Engine Failures

Two in-flight accidents in the US and Netherlands arose safety concerns regarding the Boeing 777 and the 747. Both aircraft used Pratt & Whitney engines. The engine manufacturer also sent a team to support those investigating the incident involving a 777. Read what happened here.

Aeroméxico Reports Further Pandemic Losses in 4Q20

Grupo Aeroméxico reported a troubled 4Q20. But the airline is now working on restoring its capacity from the lowest point of the pandemic and is restructuring its finances to survive. Read more on its survival strategies here!

International

Czech Airlines to Fire All Workers

The airline, which is going through a restructuring process, is making this move to face economic losses in light of the COVID-19 pandemic.

Heathrow Lost US$2.9 Million in 2020

The British airport reported losses over the course of 2020 after travel restrictions decreased the number of travelers, which shrank by 73 percent year-on-year in 2020. Passengers amounted to 22.1 million from the 81 million in 2019.

Iran Could Have Downed PS752 Flight Intentionally

A UN member is asking questions concerning the inconsistencies in the official report and the imprudent nature of events surrounding the PS751 flight. The UN official sent a letter to the Teheran government asking questions back in December. A response is still pending.