The UK’s major airlines, including BA, Virgin and EasyJet, have placed most their fleet into storage and furloughed most of the pilots and cabin crew. BA has already written to its staff about plans for a significant ‘restructuring’. Virgin boss Sir Richard Branson is seeking to sell US$485 million worth of stock in his space-tourism scheme, Virgin Galactic. In an order made out to the New York Stock Exchange (NYSE) on 11 May, he filed a prospectus for the sale of 25 million shares in the company. According to listing prices as of Tuesday 12 May, this equates to just under half a billion US dollars – or 22 per cent of the company.
“Virgin intends to use any proceeds to support its portfolio of global leisure, holiday and travel businesses that have been affected by the unprecedented impact of Covid-19,” said a spokesman for Virgin Group in an official statement. Virgin Galactic underwent an initial public offering (IPO) last year, and Galactic stocks have since doubled in value. As the pandemic started to hit the airline industry Sir Richard was heavily criticised by the media for calling for government support to Virgin Atlantic after asking thousands of employees to take unpaid leave. He responded by investing £215 million into Virgin Group, and also offered his private resort, Necker Island in the British Virgin Islands, as collateral.
Going cargo-only
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Denne historien er fra June 2020-utgaven av Pilot.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Hybrid-Electric ‘Hawaii Bird' Makes First Flight
Electric aviation company Ampaire flew its second technology demonstrator on 10 September. The aircraft is a refined version of its Cessna 337 ‘Electric EEL’ hybrid-electric power conversion.
Rare Rearwin
Made in tiny numbers by Piper and Aeronca standards, the beautifully-engineered Rearwin Skyranger proves to be a delight waiting to be discovered
Dr Hill's new helicopter
You’ve seen pictures of concept helicopters before, and most of them never rose from the paper… but this one has a better chance than most of flying in the real world. It’s the Hill HX50, and the designer describes it as a ‘disruptive’ entry into the small helicopter market, offering a step-change for the better in safety, performance, comfort and elegance.
Make mine a turbine!
To say aviation and turbines is a happy marriage is true−albeit mainly in the airline, business aircraft and helicopter world. Light aviation, especially the ultralight segment, remains essentially a turbine free field−apart from noble exceptions, in the form of single-engine jets and ‘experimentals’.
Industry experts say...
Representatives from a selection of Approved Training Organisations look forward to the future of Commercial Air Travel and prospects for professional pilots after the pandemic
Flight training
News from the clubs, schools & ATOs
First airline job
... won and lost after just eighteen months in the right-hand seat. Reflections on the rewards of the hardest work in a lifetime
Safety Matters
Safety Matters and Safety Briefs are based on the AAIB Bulletin and UK Airprox Board reports, with additional material from the US National Transportation Safety Board.
Donegal wins ‘most beautiful airport' - again!
Donegal in Ireland has been named as the ‘world’s most beautiful airport 2020’ – for the third successive year – in a major vote by more than six thousand ‘flying fans’. The award is given as part of the annual Scenic Airports poll conducted by private jet booking service PrivateFly.
Come to Sweden!
A French pilot retires to Sweden, where he enjoys great weather, blissful flights and barbecues – and invites British flyers visit this GA-friendly country