All articles by Cirium – Page 20
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News
Aeroflot losses hit $1.3 billion in 2020
Russian flag carrier Aeroflot incurred a net loss in 2020 amid slumping revenue as passenger numbers were hammered by the Covid-19 crisis.
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Kenya Airways adapts 787s for cargo-only flights
Kenya Airways is removing seats on two of its Boeing 787s to increase capacity for pure freight flights.
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Canadian operators West Wind and Transwest to consolidate as Rise Air
West Wind Aviation and Transwest Air will consolidate and rebrand as Rise Air to adapt to the travel downturn of the coronavirus pandemic and provide charter flights to western and northern Canada pending regulatory approval.
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ANA consolidates freighter operations at Tokyo Narita
ANA is consolidating its freighter operations at Tokyo Narita to maximise profitability, alongside plans to channel capacity from passenger aircraft operating cargo-only flights to its logistics hub at Naha airport in Okinawa.
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Lessors raise concerns over Norwegian aircraft returns
Law firms representing Norwegian’s lessors and creditors have raised concerns over the airline’s bid to repudiate 36 aircraft leases under its restructuring process.
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Wizz to close Trondheim base
Wizz Air is to close its recently opened Tronheim base as Covid-19 continues to disrupt air travel in Norway.
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Korean Air reports $213 million operating profit for 2020
Korean Air has reported a W238.3 billion ($213 million) operating profit in 2020, 17% below 2019 levels, on the back of a strong cargo business and company-wide cost cutting efforts.
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China Eastern’s parent to pump in up to $1.67bn via A-share issue
China Eastern Airlines’ controlling shareholder CEA Holding will inject up to CNY10.8 billion ($1.67 billion) into the airline by purchasing nearly 2.5 billion of newly issued A-shares, in a move the Shanghai-based carrier says will provide “strong financial support” for it to develop its business to cope with the impact of Covid-19.
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News
Alliance inks E190 wet-lease partnership with Qantas
Australian regional operator Alliance Airlines has inked a wet lease agreement to provide flexible capacity to the QantasLink network with three of its recently acquired Embraer E190s.
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Smaller Chinese carriers expect comparatively modest 2020 losses
The financial losses expected by three of China’s smaller carriers in 2020 are dwarfed by losses expected at the “Big Three” and troubled Hainan Airlines.
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Wizz to open Sarajevo base in May
Central European budget carrier Wizz Air is establishing a base in Sarajevo, in an effort to boost its market position in Bosnia and Herzegovina.
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PAL to cut workforce by one-third from mid-March
Philippine Airlines (PAL) will axe about 2,300 staff across its business, starting mid-March, a move that has been looming since October.
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Lion reaches agreements with (some of) its lessors
Several lessors to Lion Group airlines have agreed to restructure their leases after months of bilateral negotiations, Cirium understands.
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Myanmar’s Yangon International airport closed after military coup
Myanmar has shut its primary gateway Yangon International airport, after the military seized power on 1 February.
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Biden meets with Republicans on Covid relief package
US President Joe Biden on 1 February met with a group of Republican senators at the White House to discuss their proposed $618 billion coronavirus relief package, while his administration continues to call for a $1.9 trillion stimulus to help the US economy weather the pandemic. Nine of the Republican ...
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Analysis
Lessors take stock as HNA creditors seek its bankruptcy
News that HNA Group creditors will seek to put the conglomerate into bankruptcy and reorganise it did not come as a surprise to some lessors, who had been anticipating such an announcement around the Chinese New Year.
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News
JetBlue unveils new business seat aimed at London flights
JetBlue Airways has unveiled new full-flat business seats ahead of its planned launch of flights to London later this year.
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Ryanair eyes slow-then-sudden 2021 recovery
Ryanair expects a gradual recovery in the spring to be followed by a “substantial” return to flying through the summer, as desperate northern Europeans rush back to holiday destinations. Noting that the carrier is “already seeing a rise in bookings into the period”, group chief executive Michael O’Leary said during ...
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News
Vietjet profitable in 2020, banks on ancillary revenue and cargo
Vietjet Air reports a profitable year in 2020 despite the pandemic, banking on ancillary revenue and cargo.
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Air cargo leaders expect ‘challenging but profitable’ 2021
Elevated demand for dedicated air cargo services will persist for several years until there is a meaningful return of passenger services, according to leading figures in the air cargo industry.