All Coronavirus articles
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NewsIAG’s Walsh warns against obtaining liquidity without structural reform
Outgoing IAG chief Willie Walsh has warned that obtaining liquidity will offer a false sense of security to airlines unless they fundamentally adapt their business to reflect a different post-crisis market. Walsh points out that British Airways’ second-quarter operating loss of £711 million eclipses that of previous crises – ...
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News
Covid-19 wipes out 78% of JAL’s first-quarter operating revenue
Japan Airlines posted a Y93.7 billion ($885 million) net loss in the April to June period, as Covid-19-related travel and quarantine measures nearly wiped out the carrier’s passenger revenues. Operating revenues declined by 78.1% year-on-year to Y76.3 billion in the first quarter of the fiscal year (FY) ending ...
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News
VietJet confident of LCC model despite 54% decline in Q2 revenue
VietJet Air is confident of its financial strength and business model, even though second-quarter operating revenues more than halved amid the global Covid-19 outbreak. The Hanoi-based low-cost carrier reported D1.12 trillion ($48 million) in operating losses for the April to June period, as air transport revenue declined 54% year-on-year ...
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News
Malaysian brokerage issues dire warning about AirAsia X
Malaysian brokerage firm CGS CIMB Securities has questioned the ability of AirAsia X to survive the collapse in international air travel. In a research note entitled “Low probability of survival,” CGS CIMB says that the long-haul, low-cost carrier’s first quarter results were just the “opening scene for the horror ...
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News
Improving travel demand lifts NZ domestic networks
New Zealand carriers are adding capacity to their domestic networks in the coming months, even as international operations remain grounded due to pandemic-related travel restrictions. Moves by Jetstar and Air New Zealand to add back capacity come on the back of strong domestic travel demand. Low-cost carrier Jetstar ...
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News
Russian carriers begin resuming international services
Russian operators are restarting international services after the government started clearing restoration of links with countries including Turkey, the UK and Tanzania. Aeroflot is re-opening its links from Moscow Sheremetyevo to Istanbul and London Heathrow on 1 August, both routes being served by Boeing 777s. Aeroflot’s budget sister ...
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News
United plans to furlough at least one third of pilots
United Airlines plans to furlough at least one-third of its total pilot population as the carrier continues to grapple with the coronavirus pandemic’s long-term effects on the air transport industry.
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News
Gol sees Q3 as bridge to new normal
Brazilian airline Gol reported a second-quarter loss of R2 billion ($384,000) as the coronavirus crisis ravaged the air transport industry in the Latin American country.
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News
Air Canada reports second-quarter loss of C$1.8bn
Air Canada posted a stunning C$1.8 billion ($1.5 billion) loss during the second quarter, as the coronavirus shut down almost all air travel in the country, and government-imposed restrictions kept passengers away.
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News
IAG Cargo sees large revenue gain after responding to freight crisis
IAG’s cargo arm has seen a surge in revenue and yield after quickly responding to the changing market conditions brought on by the coronavirus pandemic.
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News
Qatar Airways on board as IAG proposes €2.75bn capital increase
British Airways and Iberia parent IAG is proposing a €2.75 billion capital increase, to which Qatar Airways – its largest shareholder with 25% – has already agreed to sign up. IAG says the increase would strengthen its balance sheet and liquidity, and reduce financial leverage, given that it does ...
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News
Nok Air files for business rehabilitation
Thai budget carrier Nok Air has filed for business rehabilitation with a view to restructuring the company, taking a similar path to flag carrier Thai Airways which filed for the same protection in May. The country’s Central Bankruptcy Court has accepted Nok Air’s rehabilitation petition for consideration and set ...
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Analysis
Airlines left doubting if enough people can, or will, travel in 2020
The industry’s relief at being able to ramp up services as the second half of 2020 began is quickly being replaced by concern that the coronavirus is likely to weigh more heavily on demand than previously thought.
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News
Myanmar further extends international flight ban to end-August
Myanmar has further extended a ban on all international flights to the end of August. “In order to continue to [curb] the spread of Covid-19 in Myanmar effectively, the National Central Committee for Prevention, Control, and Treatment of Covid-19 has decided to further extend the effective period of the ...
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News
Airbus impairs inventories ‘at risk’ as stored aircraft level rises
Airbus has recorded a near-€300 million charge for impairment of inventories considered at risk, as stored aircraft continue to push up its inventory level. The airframer reveals in its first-half accounts to 30 June that its inventories stood at €37.5 billion – up by nearly €6 billion on the ...
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News
Prolonged 737 Max grounding, pandemic punish SpiceJet earnings
India’s SpiceJet has incurred more than Rs6.7 billion ($89.6 million) in costs from the year-long global grounding of the Boeing 737 Max. Taken together with the impact from the coronavirus outbreak, which has dented passenger travel demand, SpiceJet saw losses widen for the year ended 31 March. The ...
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News
Airbus trims A350 rates again as crisis becomes ‘visible’ in second quarter
Airbus is trimming A350 production rates, to five aircraft per month from six, in a further adjustment to its output in the face of weak air transport market demand. The airframer has disclosed that some 145 commercial aircraft went undelivered during the first half of this year, as a ...
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Opinion
An eternal midnight for Asia-Pacific airlines
Hopeful talk of ”travel bubbles” in the Asia-Pacific has turned to disappointment as the coronavirus demonstrates a profound ability to keep heaping disruption on the travel industry. In early May, hope was in the air in Auckland. New Zealand, one of rare success stories in dealing with the pandemic, ...
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News
Pandemic torpedoes IndiGo profitability
Indian low-cost carrier IndiGo plunged deeper into the red in its latest quarterly financial results, amid a collapse in revenue from the coronavirus outbreak. For the quarter ended 30 June, IndiGo reported an operating loss of Rs28.4 billion ($380 million), reversing the INR15.1 billion profited it made last year. ...
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News
Allegiant loses $93 million in ‘most turbulent’ quarter
Allegiant Travel Company, parent of ultra-low-cost carrier Allegiant Air, reported a $93 million loss in the second quarter as the coronavirus pandemic ravaged the air transport industry during the period.
