Travel industry news last week May 2020

Fly business class Lufthansa

As every Sunday, we will give you an overview of what has happened during the week in the travel industry.

Travel industry news last week May 2020

 

Lufthansa Accepts the Reduced EU Requirements for the Aid Package

Lufthansa rejected the initial bailout offer and accepts now a better offer.

The company needs to give up to 24 slots, to station four aircraft. In purely mathematical terms, there are 3 take-off and 3 landing rights per machine a day. This is less than Brussels originally claimed to have asked for, the previous deal had included the forfeiture of 72 slots.

For a year and a half, the new regulation will only be available to new competitors at Frankfurt and Munich airports. If no new competitor makes use of the option, the offer will be extended to existing competitors at the airports.

 

New Date for Dubai Expo approved in 2021

A new date has been approved for Expo 2020 Dubai by the Bureau International des Expositions (BIE).

The event will keep the name “Expo 2020 Dubai”, and new dates have officially changed to October 1st, 2021, to March 31st, 2022.

 

Boeing Resumes 737 MAX Production

All Boeing 737 MAX are grounded since March 2019, after two deadly crashes that led to 346 deaths. The recertification process of the Boeing 737 MAX is still going, they hope that the 737 MAX can fly again this year.

Boeing resumed now the production of the 737 MAX. According to the company, it will start at a “low rate” and will keep on ramping up the production this year.

 

LATAM files for chapter 11 Bankruptcy Protection

Latin America’s largest airline LATAM Airlines Group SA announced on Tuesday that the company has filed for Chapter 11 bankruptcy protection in the U.S.

However, the airline will continue to fly while it is in bankruptcy protection and its affiliates in Argentina, Brazil and Paraguay were not included in the Chapter 11 filing.

Delta Air Lines is the biggest shareholder in LATAM with 20% stake.

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