Swiss to wet-lease Adria CRJ900

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Dubai-based Emirates airline has posted a $5.5 billion annual loss, its first in more than three decades, after the coronavirus pandemic devastated the aviation industry. The carrier said it received a capital injection of $3.1 billion from its owner, the government of Dubai, to help it survive the crisis. The Emirates group was "hit hard by the drop in demand for international air travel as countries closed their borders and imposed stringent travel restrictions", said Chairman and Chief Executive, Sheikh Ahmed bin Saeed Al Maktoum. "No one knows when the pandemic will be over, but we know recovery will be patchy", he said in a statement. The Middle East's largest carrier said that the fallout triggered a loss of 20.3 billion dirhams ($5.5 billion) over the financial year to March, after last year's 1.1 billion dirhams ($288 million) profit. The airline, which was forced to temporarily suspend scheduled operations last year, saw revenue fall 66% to $8.4 billion. Over the fiscal year Emirates carried 6.6 million passengers, down 88% from the same period in the previous year. "The Covid-19 pandemic continues to take a tremendous toll on human lives, communities, economies, and on the aviation and travel industry", Sheikh Ahmed said. "Economies and companies that entered pandemic times in a strong position, will be better placed to bounce back", he added. The last time the airline reported a loss was in the 1987-88 financial year, when it was starting up its operations. Like other major carriers, Emirates began announcing heavy layoffs when its fleet of A380 superjumbos and Boeing 777s was grounded. The Emirates Group's employee base - which includes ground-handling firm Dnata - was slashed by 30.8% to 75.145 employees. Before the virus hit, Emirates airline alone employed some 60.033 staff, including 4.300 pilots and nearly 22.000 cabin crew. The workforce has now shrunk to 40.801 staff. Emirates is currently flying to 157 destinations, almost its full travel network of 158 destinations in 85 countries before the pandemic.
Source: France 24

Swiss to wet-lease Adria CRJ900

NEWS FLASH

Swiss International Air Lines will wet-lease an Adria Airways Bombardier CRJ900 aircraft, registered S5-AAO.The jet is eight years old and will be utilised by Swiss from July 1 until September 30. The aircraft will be initially deployed on flights from Zurich to Lyon, Hannover, Luxembourg, Leipzig, Dresden, Dusseldorf and Munich. A wet-lease is a leasing arrangement whereby the lessor provides an aircraft, complete crew, maintenance and insurance to another airline.

Comments

Anonymous14:14
Good idea to get extra cash. They don't need the plane plus thwy get the CRJ700 back to Ljubljana which was at Lodz (base being closed)
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Anonymous08:35
I wonder what aircraft it is replacing. Is it that LX wants to phase out the Avros faster than they get delivery of CSeries? Or do they have a lack of crew as pilots are being retrained on CSeries?
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Anonymous15:29
LX has continuous wet-in suppliers e.g Edelweiss, Helvetic, ... so nothing unexpected to lease JP to cover the peaks.
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Anonymous09:13
Its a fact.LX decade wet leases from other HB operators all seasion.
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Swiss to wet-lease Adria CRJ900

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