All Strategy news – Page 147
-
NewsCathay retires 34 aircraft early, parks nearly half its fleet overseas
Troubled Cathay Pacific Group took a one-time HK$2.8 billion ($361 million) impairment charge relating to the early retirement of 34 aircraft, as it discloses that nearly half of its fleet are in long-term storage overseas.
-
NewsCovid-19 pushes Cathay to record operating loss
Cathay Pacific Group saw its full-year passenger revenue collapse to just 2-3% of pre-pandemic levels, as it warned that its immediate outlook continues to be challenging.
-
NewsFrontier seeks IPO after cancelled attempt in 2020
Frontier Airlines on 8 March filed for an initial public offering of stock with the US Securities and Exchange Commission, a year after cancelling its previous bid for a $100 million offering that it initiated in 2017.
-
NewsAmazon takes stake in Air Transport Services Group
Amazon Air has taken a stake in lessor and cargo operator Air Transport Services Group (ATSG), worth $132 million.
-
NewsUS Congress approves aviation payroll support extension
Both houses of the US Congress have passed the third comprehensive coronavirus relief package for the air transport industry, which would grant airlines $14 billion more in payroll support as the crisis drags on.
-
NewsFedEx invests $2bn in sustainable technologies
US cargo carrier FedEx is investing more than $2 billion as part of an effort to achieve carbon-neutral operations across its global network in 20 years.
-
NewsPegasus hopeful of rebound as restrictions dent late-2020 performance
Budget carrier Pegasus Airlines saw curfews and lockdowns in Turkey dent demand towards the end of 2020, but it remains hopeful of a strong traffic rebound going into the second half of 2021.
-
NewsAzul spools up for speedy recovery
Brazil’s Azul posted a profit in the fourth quarter of 2020 and is preparing for a stronger-than-industry-average recovery, especially across its domestic network and cargo operations.
-
NewsEtihad operating loss more than doubles in 2020
Etihad Airways has accelerated restructuring efforts after its core annual operating loss more than doubled to $1.7 billion in 2020.
-
NewsLufthansa Group fleet fell by six aircraft in 2020, but dozens will follow
Lufthansa Group’s fleet was just six aircraft smaller year on year on 31 December 2020, as it made tentative steps towards a much larger reduction.
-
NewsSpirit chief bets on A320neos and A321neos for capacity growth
Spirit Airlines continues to target mid-2021 as the inflection point when its capacity returns to pre-pandemic levels and is betting on new Airbus A320neo and A321neo aircraft for its expansion plans, two executives from the carrier said during an online discussion on 3 March.
-
NewsSky Regional to cease operations end-March: reports
Sky Regional airlines will cease to operate from 31 March after Air Canada transferred all of its Air Canada Express flying to Jazz Aviation, according to numerous reports in Canadian media.
-
NewsMesa plans joint venture to fly CRJ900s in Europe
Mesa Air Group on 2 March announced a conditional agreement with London-based Gramercy Associates to launch a joint venture to operate Mesa’s Bombardier CRJ900 aircraft on passenger or cargo routes in Europe by the end of 2021.
-
NewsFleet, staff cuts loom at struggling Thai Airways
Embattled Thai Airways has outlined ambitious plans for a post-restructuring future, including simplifying its fleet structure and cutting the number of staff.
-
NewsBreeze plans summer launch of flights and ‘super app’: Neeleman
Breeze Airways’ co-founder and chief executive David Neeleman expects his new Salt Lake City-based low-cost airline will be operating flights before this summer, in the process acclimating travellers to an app-centred customer experience.
-
NewsDelta to shift all pilots to ‘active’ status by October
Delta Air Lines intends to return all its pilots to “active-flying status” by October, part of the carrier’s effort to prepare for returning to 2019 capacity by summer 2023.
-
NewsTurkish Airlines posts $836m net loss for 2020 despite freight boost
A strong rise in cargo revenues helped Turkish Airlines end 2020 with a profitable final quarter at an operating level, though the Star Alliance carrier still posted a net loss of $836 million for the full-year.
-
NewsRyanair and Wizz fly less than a million passengers between them in February
Ryanair and Wizz Air passenger numbers were down 95% and 87%, respectively, in February as the two European low-cost airlines carried less than a million passenger between them during the month.
-
NewsAir Canada to shift E175s from Sky Regional to Jazz
Air Canada intends to transfer the operation of 25 Embraer 175s from Sky Regional to Jazz Aviation, making Jazz the sole operator of Air Canada Express flights and leaving the future of Sky Regional uncertain.
-
NewsLATAM set to expand freighter capacity with 767 conversions
LATAM Airlines will expand its freighter capacity by as much as 80% under a plan covering the conversion of up to eight Boeing 767-300ER aircraft.