All Strategy news – Page 165
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Airline BusinessResilient Philippine Airlines fights the odds against coronavirus
The Philippines has had a tough run during the coronavirus pandemic, but Philippine Airlines (PAL) is determined to keep fighting to preserve the island nation’s connectivity.
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NewsNationalise Air Canada? Union floats idea of returning to government ownership
A Canadian union has floated the idea of re-nationalising legacy carrier Air Canada in light of the “disheartening impact” of the coronavirus pandemic and the government’s lack of support for the industry.
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NewsAir Canada will fly all-business-class A319s to warm-weather cities this winter
Air Canada will deploy all-business-class configured Airbus A319s on selected scheduled routes this winter as it searches for passengers after the coronavirus decimated Canada’s air transport industry.
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Airline BusinessHow protests and pandemic pushed Cathay to the brink
As Covid-19 tore into the aviation industry, some airlines were able to fall back on the profits of previous years, but the impact of anti-government protests removed any possible cushion for Hong Kong’s flag carrier.
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NewsAirAsia Berhad secured new loan: airline chief
Budget carrier AirAsia Berhad has agreed fresh funding as it seeks to navigate its way through the Covid-19 crisis. The Kuala Lumpur-based airline tells Cirium in a statement that it is unable to disclose the lenders or the amount being made available. Source: AirAsia AirAsia has confirmed that ...
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NewsCathay confirms 777-9 deliveries delayed to ‘beyond 2025’
Cathay Pacific has given an indication of the timeline surrounding deferrals of its Boeing 777-9 aircraft, confirming that the widebodies will only be delivered “beyond 2025”.
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NewsLessors baulk at Malaysia Airlines’ restructuring plan
Sixteen third-party lessors have exposure to Malaysia Airlines, which earlier this month announced an “urgent restructuring exercise” that would include a “drastic” relook at its network and fleet plans. Leasing executives from some of those lessors, who spoke to Cirium on condition of anonymity, are not happy about the plan, ...
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NewsCathay shutters Cathay Dragon brand, axes 5,900 jobs
Cathay Pacific Group will cut 5,900 jobs, in a HK$2.2 billion ($284 million) restructuring exercise that will also see the Cathay Dragon brand cease operations effective immediately. As part of restructuring efforts, the group will eliminate 8,500 positions, or about 24% of its existing headcount. Of these, 2,600 ...
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NewsAeromexico reports dismal Q3 results, but sees improvement
Grupo Aeromexico, the parent company of Mexico’s legacy carrier, Aeromexico, reported a sharp decline in year-on-year revenue and a net loss for the third quarter as the coronavirus clipped the airline’s operations and bankruptcy proceedings continue in a US court.
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NewsCovid-19 ‘to sort winners from losers’: Wizz chief
Wizz Air chief executive Jozsef Varadi sees a “major opportunity” for his carrier to expand into the vacuum left by retrenching competitors amid the Covid-19 crisis. During an online broadcast by the UK’s Aviation Club, Varadi said Wizz had been “waiting for a crisis” to emerge since the financial crash ...
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NewsLufthansa expects third-quarter EBIT loss of €1.3 billion
Lufthansa Group’s preliminary third-quarter results indicate that losses were less steep than in the previous quarter, which it attributes to an expanded summer flight schedule and “considerable cost reductions”. The German airline group expects to post an adjusted EBIT loss of almost €1.3 billion ($1.5 billion) for the three months ...
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Airline BusinessInterest in revived Flybe shows continued faith in regional opportunity
On this face of it, plans to revive a loss-making UK regional operation at a time when all airlines, regardless of model, are struggling to survive would seem unlikely.
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NewsSingapore Airlines marks return to New York with JFK nonstop
Singapore Airlines (SIA) will launch nonstop flights between Singapore and New York JFK from 9 November – the first time the carrier will operate such flights between the two airports. Announcing the route’s launch, the SIA says it will operate thrice-weekly flights using its Airbus A350-900s. ...
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NewsFinnair reaches agreement to cut 700 jobs
Finnair has reached an agreement to cut 700 jobs – more than 10% of its workforce – as it grapples with the impact of the coronavirus pandemic.
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NewsCrisis means American Airlines ‘feels like start-up company’
The impact of the coronavirus crisis means American Airlines sometimes feels more like ”a $2-3 billion start-up company” than one of the world’s largest and longest-established operators, according Rhett Workman, the carrier’s managing director for Europe and Asia-Pacific.
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NewsUK to implement testing regime by December: transport secretary
The UK is hoping to roll out a testing regime for inbound travellers by 1 December with the aim of reducing quarantine times to one week, transport secretary Grant Shapps has revealed. During the Airlines 2050 conference today, Shapps said that under the government’s current plan, passengers would pay for ...
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NewsNo short-term return for A380: Qatar Airways chief
Qatar Airways does not expect to operate its Airbus A380s for at least two years, according to the Middle Eastern carrier’s chief executive Akbar Al Baker.
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NewsGlacial recovery will see Cathay operate below half capacity in 2021
Cathay Pacific will operate only around 10% of its capacity for the rest of year, and just about half for the coming year. This comes as it warns of a very slow recovery in passenger traffic, despite seeing some signs of month-on-month growth. Source: Max Kingsley-Jones/FlightGlobal Cathay Pacific ...
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NewsQantas to exit joint venture with Vietnam Airlines: report
Australia’s Qantas plans to give up its stake in low-cost carrier Pacific Airlines to joint venture partner Vietnam Airlines, according to a media report. This will be transferred at no cost and the deal is expected to be finalised by the end of October, DealStreetAsia, a Nikkei-owned Asia-focused financial publication, ...
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NewsTransat down to 160 flight attendants in November: union
Canada’s Air Transat will be laying off more flight attendants and closing a west-coast base in the coming weeks as the coronavirus continues to take its toll on the country’s air transport industry, the Canadian union for public employees (CUPE) says.