All Strategy news – Page 187
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NewsAir France-KLM targets 60% capacity recovery by year-end
Air France-KLM expects to operate 20% of previously planned capacity during the third quarter but raise the level to 60% by year-end.
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NewsAir Europa deal still makes sense but work to do to complete: Walsh
IAG chief executive Willie Walsh believes its planned acquisition of Spanish carrier Air Europa still makes strategic sense but notes work is still ongoing regarding pricing and competition issues before a decision on completion can be made. The Iberia and Vueling parent in early November outlined its plan to acquire ...
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NewsWalsh to step down in September as IAG eyes ‘meaningful’ return in July
IAG chief executive Willie Walsh will step down in September as the British Airways and Iberia parent aims for a “meaningful” return of services in July. Walsh, who has led the group since is inception, was originally due to step down in March but delayed the move as the coronavirus ...
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NewsUnited outlines workforce reduction measures as union battle flares
United Airlines continues to reduce its workforce, disclosing plans to lay off broad swaths of office staff, warning of pilot furloughs and, facing union backlash, pitching a new voluntary leave programme.
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NewsQatar Airways to make ‘substantial’ job cuts
Qatar Airways is to axe a “substantial number” of jobs as the global aviation industry faces a “grim” global outlook with no foreseeable improvement, the airline’s chief executive has told employees.
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Airline BusinessAsia’s bullish LCC orderbook confronts a bear trap
Following epic orders in the aviation bull market of the 2010s, Airbus and Boeing have significant exposure to the fate of the four major low-cost carrier groups in the Asia-Pacific. The 2010s were a heady time for Asia-Pacific low-cost carrier bosses such as AirAsia’s Tony Fernandes, Lion Air’s Rusdi Kirana, ...
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NewsAirlines would struggle under empty-seat rule: IATA
IATA is opposing any regulation that would require airlines to leave empty seats between passengers, arguing that such a measure would severely affect operators’ economic prospects and yet deliver no “significant improvement in safety” for travellers. Keeping middle seats empty on narrowbodies with standard 3-3 cabin layouts will reduce capacity ...
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NewsLufthansa reluctant to accept state aid with conditions attached
Lufthansa Group is holding “intensive talks” with governments in Germany, Austria and Belgium about the provision of state aid to help its airlines survive the coronavirus crisis, but the company appears reluctant to accept any support that comes with conditions attached. In a speech to shareholders at Lufthansa’s annual general ...
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NewsRyanair carries out just 600 scheduled flights in April
Europe’s biggest passenger airline Ryanair operated just 600 scheduled flights carrying 40,000 people in April as the airline was all but grounded by the coronavirus pandemic.
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Airline BusinessWhy European regionals fear bailouts will distort competitive landscape
Director general of the European Regions Airline Association, Montserrat Barriga, says that government bailouts are focusing on bigger, state-owned airlines, creating a market distortion for smaller and private operators.
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NewsAir Canada expects recovery to take three years
Air Canada incurred a C$1.05 billion ($744 million) net loss in the first quarter of 2020, compared with a C$285 million net profit a year ago, and is warning that it will take “at least three years” for revenue and capacity levels to return to those seen in 2019.
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NewsNorwegian shareholders approve survival plan
Norwegian’s shareholders have voted in favour of its plan to convert debt to equity and relaunch operations with a smaller fleet and fewer destinations from 2021. The airline should now be able to access the rest of its NKr3 billion ($288 million) bailout package from Norway’s government, which is conditional ...
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NewsNorwegian secures bondholder and lessor support ahead of crunch vote
Norwegian expects to convert more than Nkr10 billion in debt to equity after reaching agreement with more lessors and bondholders, clearing the path to unlocking crucial further state aid.
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NewsAmerican lightens fleet load in pursuit of liquidity
American Airlines is counting on cost-saving fleet retirements and a $4.75 billion US CARES Act loan to boost its liquidity sufficiently to help see it through the next two quarters while waiting for travel demand to revive somewhat during the summer months.
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NewsTalks continue as Norwegian fails to get bondholder majority for debt conversion plan
Norwegian is holding “constructive dialogue” with bondholders over whether a majority in favour of its debt-to-equity conversion plan can be reached, after it was rejected in an initial vote on the proposal.
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Airline BusinessHow will crisis impact airline mergers?
Airlines and regulators are having to adjust to a fast-changing landscape as they consider merger and acquisition plans, both those put in play before the coronavirus crisis hit and those that might emerge in its aftermath.
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NewsLufthansa aims for autumn restart ‘at the earliest’
Lufthansa Group will remain grounded throughout the summer and does not expect a new market “balance” to be found until 2023, chief executive Carsten Spohr will tell the company’s annual general meeting on 5 May, in a speech pre-released on its website.
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NewsIAG’s Spanish carriers secure €1bn in financing under state-backed loans
IAG’s Spanish units Iberia and Vueling have secured financing for €750 million and €260 million respectively under a syndicated agreement which will be guaranteed by the state-owned bank Instituto de Credito Oficial (ICO).
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NewsLufthansa pilots offer to waive 45% of salaries
Lufthansa pilots represented by trade union Vereinigung Cockpit have offered to waive up to 45% of their salaries for two years, in return for job security, to help the airline navigate the coronavirus crisis.
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NewsFrench government sets green conditions for Air France bailout
Air France must slash domestic flights and agree to work towards becoming the world’s “most environmentally friendly” airline, if it is to satisfy the conditions of its government bailout.