All Strategy news – Page 173
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NewsNorwegian warns more cash needed to survive crisis
Restructuring low-cost carrier Norwegian has warned it will require further financing next year to survive the winter as coronavirus-related travel restrictions continue to hamper the recovery in air travel
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NewsFiji Airways quashes insolvency rumours
Fiji Airways has rejected what it describes as injurious media speculation about its financial health. ”Fiji Airways is not insolvent by any definition of the word, whether you look at our cash flow or our balance sheet,” managing director and chief executive, Andre Viljoen said in a statement on 27 ...
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NewsAirAsia X posts record quarterly loss amid ongoing grounding
Beleaguered long-haul, low-cost carrier AirAsia X will remain grounded “in the near term”, as it trims its fleet and network amid a record operating loss. The carrier, which only operates international routes, is also looking to sell two Airbus A330 aircraft to raise cash, and negotiating the early return of ...
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NewsAirAsia to focus on domestic recovery amid widened Q2 loss
AirAsia Group anticipates a return to profitability “in the years to come”, with demand — particularly for domestic travel — expected to increase in the second half of the year. At the release of its second-quarter financial results, group chief executive Tony Fernandes says AirAsia Group has reduced its costs ...
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NewsSpirit pilots agree to deal preventing 600 layoffs
Spirit Airlines’ pilots have agreed to work fewer hours as part of a deal that will prevent the airline from needing to lay off 600 of pilots.
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NewsVirgin Atlantic creditors back rescue plan
Virgin Atlantic’s recapitalisation efforts have been boosted after creditors voted in favour of its restructuring plan.
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NewsFinnair seals A350 sale-and-leaseback to bolster cash position
Finnair has flagged an immediate positive cash effect in excess of €100 million after finalising the sale-and-leaseback of one of its Airbus A350 aircraft.
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NewsExpressJet to cease operations on 30 September
ExpressJet will shutter operations at the end of next month after passenger demand sharply declined due to the coronavirus, and United Airlines decided to consolidate its regional flying with another carrier.
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NewsCargolux paints surgical mask on nose door of Boeing 747-8F
The paint scheme is intended to highlight the ”airline’s commitment to the fight against Covid-19”.
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NewsBrussels Airlines gets approval for €290 million bailout
European competition regulators have given the green light for a €290 million ($343 million) state-support measure for Brussels Airlines to help the carrier recover from the coronavirus crisis.
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NewsScoot converts A320 into temporary freighter
Singapore-based low-cost carrier Scoot has begun cargo charter operations using a freight-optimised Airbus A320ceo, tapping on demand as an alternative revenue source. The aircraft, registered 9V-TAZ, underwent a four-day modification programme earlier this month. That involved the removal of all 180 seats, as well as the installation of placards to ...
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NewsQantas International chief exits amid consolidation
Qantas Group is trimming and reorganising its executive team in response to the ongoing Covid-19 crisis, with the changes coming into effect on 1 September. The chief executive of Qantas International, Tino La Spina, will leave Qantas Group “in light of what is likely to be the extended grounding of ...
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NewsFiji Airways now ‘focused on survival’ after bumper year in 2019
Fiji Airways had a bumper year in 2019, increasing its revenue, profit and passenger numbers despite high-priced fuel, foreign exchange fluctuations and increased competition from major shareholder Qantas, but 2020 saw the airline enter survival mode after the Covid-19 pandemic struck. Group operating profit before tax for the year ended ...
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NewsAirlines walk tightrope on pilot furloughs
Airlines find themselves facing a critical dilemma as they resize their networks for a new post-coronavirus normal, and must walk a tightrope between furloughing pilots and keeping them on staff to maintain their network flexibility, experts say.
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NewsLufthansa ticket refund bill reaches €2.3 billion
Lufthansa Group has disclosed it paid more than €2.3 billion ($2.7 billion) in ticket refunds to almost 5.4 million customers so far this year.
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NewsBritish Airways’ union calls for strike action
British Airways staff represented by the Unite union have “overwhelmingly” called for strike action over the airline’s plans for job losses and changes to employment terms.
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NewsPegasus talks to Airbus about changes to A320neo-family deliveries
Turkish budget carrier Pegasus has indicated that it will push back some aircraft deliveries, as it continues negotiations with Airbus regarding the A320neo-family twinjets it has on order.
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NewsAmerican cuts 15 cities from network as government aid expires
American Airlines intends to axe routes to 15 destinations, as it begins trimming its network due to the expiration of government aid and a lack of demand for air travel.
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NewsQantas A380s could re-enter service in three years: Alan Joyce
Qantas Airways chief executive Alan Joyce expects that the airline will only recover 50% of its international market by its 2022 fiscal year.
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Airline BusinessLatin American aviation’s coronavirus slumber far from over
As the global aviation industry gets used to the idea that a rebound may take three years, the sector in Latin America is looking at a particularly difficult recovery, as airlines report staggering losses, borders remain closed and governments continue withholding aid.