Air Canada has sealed sale-and-leaseback transactions for three Boeing 737 Max 8 aircraft with Jackson Square Aviation and six Max 8 aircraft with Avolon for total proceeds of $365m. Boeing delivered these nine Max aircraft to Air Canada during the past three years, the carrier stated 8 October in the announcement of the transactions, which will also provide long-term lease commitments of $345m. The transactions are part of the Montreal-based carrier’s work to bolster its liquidity, which it says stands at “almost $6b”. ”Air Canada will continue to explore financing arrangements as additional liquidity may be required or to refinance existing debt to push out maturities,” the carrier states. The airline at the end of September also completed two longer-term refinancing transactions that total $1.52b, replacing short-term facilities to finance the purchase of Airbus A220 aircraft and to repay a bridge loan facility.<br/>
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Japan’s two major airlines said Thursday they will make smaller cuts in domestic flights in November, as travel demand is on a recovery trend partly thanks to the government’s Go To Travel tourism promotion program. Japan Airlines said it will suspend 6,722 flights scheduled for November, accounting for 26% of all domestic services originally scheduled. The company reduced the number of domestic flights by 40% in September and 36 percent in October. The latest move will affect 78 routes, including one connecting Tokyo International Airport at Haneda and Osaka International Airport in western Japan. JAL plans use large aircraft for domestic flights scheduled for Saturday through Oct. 31, to meet increasing demand for travel. ANA Holdings’s All Nippon Airways said it will reduce the number of domestic flights by 6,337, or 29%, next month, after making a 43% cut in October. The cut in November will affect 79 routes, including one between Haneda and Sapporo, Hokkaido, northernmost Japan.<br/>
Portugal’s government has completed its acquisition of an additional 22.5% stake in TAP, clearing the way for the airline to access the rest of its state loan. The government now holds 72.5% of TAP’s share capital after acquiring the stake from David Neeleman’s Atlantic Gateway consortium. The JetBlue Airways and Azul founder has now resigned from TAP’s board. In a notice to investors, TAP states that completing the government’s stake increase was part of a “set of contractual arrangements” related to a state loan of up to E946m for the airline. An extra E254m may later be added to the loan, but the government is not obligated to make the additional funds available. In September, TAP received an initial E499m from the state rescue loan. Atlantic Gateway now ceases to be a TAP shareholder, Neeleman has “submitted his resignation” from the carrier’s board, and the airline is cleared to access the rest of the loan. "The board of directors of TAP acknowledges the commitment, the positive contribution and the work carried out by Mr David Gary Neeleman while performing his respective office in TAP and wishes all the best for the challenges ahead,” says TAP.<br/>
Thai Airways has found a way to offer those experiences despite being grounded by Covid-19 and landing in bankruptcy court under crippling debt. The airline is selling time on its flight simulators to wannabe pilots while its catering division is serving meals in a flight-themed restaurant complete with airline seats and attentive cabin crew. The airline is trying to boost staff morale, polish its image and bring in a few coins, even as it juggles preparing to resume international flights while devising a business reorganisation plan. If you’re nuts about aeronautics, it doesn’t get much better than this: a hands-on half-hour at the controls of an Airbus A380 simulator, yours for 20,000 baht. Since the pandemic has clipped airlines’ wings, THAI devised the packages to keep its air crew motivated. It offers a four-day “pilot experience” package, of which the simulator is a part, or access can also be bought to the simulator alone. So far, almost 100 customers have savoured the thrill of a virtual take-off and landing at an airport of their choosing. A session last week featured Paris Charles de Gaulle Airport, though the pilots say the most popular choice has been Tokyo. The cockpit is an exact copy, pilots said, even down to the feel of the buttons. The pilot managing the project says it’s the kudos that count. “The income is secondary. The real objective is to keep the relationship with Thai Airways passengers, ” Capt Chaisupatt Mulsrikaew said.<br/>