All Coronavirus articles – Page 38
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NewsKorean Air delivers profitable second-quarter with freight focus
Korean Air’s focus on cargo operations appears to have paid off, as it reports a profitable second quarter that outperformed the year-ago period. The airline saw revenue decline 44% year-on-year to W1.69 trillion ($1.4 billion), as the Covid-19 pandemic led to a sharp decline in passenger demand. Despite that, it ...
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NewsUnited begins removing seats from regional aircraft
United Airlines has begun removing seats from Embraer 175 regional aircraft, a strong indication that broad pilot furloughs are imminent.
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NewsUS lifts blanket ‘do not travel’ advisory for citizens
The US State Department has lifted its blanket global travel advisory warning citizens not to travel overseas after determining that the situation around the spread of the coronavirus has improved enough globally to be able to differentiate between potential travel destinations.
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NewsCopa’s second-quarter results shattered by travel restrictions
Copa Holdings, the parent of Panama City-based Copa Airlines, reported a second-quarter loss of $386 million as the coronavirus, coupled with numerous government-imposed measures to stop its spread, decimated the company’s business.
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Airline BusinessAirline losses mount for second quarter after revenues collapse
Airlines routinely posted losses deeper than the revenue they brought in during the April-June quarter, as the virtual grounding of international scheduled services wiped out much of their business.
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NewsEtihad starts network rebuild after ‘enormous challenges’ thwart early 2020 gains
Etihad’s strong start to 2020 was thwarted by the coronavirus pandemic as it now plots the reactivation of its network amid a further drive to reduce costs.
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NewsUS Senators call for more financial aid for airlines
Sixteen US senators have requested additional financial aid for the aviation sector as the coronavirus continues to prevent a return to normal operations.
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AnalysisRising backlog of jets still undelivered 60 days after first flight
Airbus and Boeing have collectively accumulated a backlog of more than 120 passenger jets that had their first flights more than 60 days ago but are yet to be delivered to customers (excluding the grounded 737 Max).
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Airline BusinessAirline coronavirus recovery tracker: August 2020 update
Our regular examination of the latest global data for several key airline market indicators, including traffic and capacity in passenger and cargo markets, airport passenger throughput, in-service and stored fleets, jet fuel costs, and share price trends for the world’s largest groups.
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NewsCopenhagen airport operator proposes cutting a quarter of workforce
Copenhagen airport’s operator is considering cutting 25% of its staff in response to the air transport downturn. The Danish hub’s management company, Kobenhavns Lufthavne, has unveiled a DKr228 million ($36 million) pre-tax loss for the first half of this year, against its previous profit of DKr617 million. It is estimating ...
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Airline BusinessJAL plays the long game with pandemic response
Japan Airlines (JAL) is focused on long-term survival as it weighs its network, finances, and fleet, amid the coronavirus pandemic. JAL sees sharply diverging trends for its domestic and international network, says the carrier in an email interview with FlightGlobal. Source: JAL JAL has 25 787-8s in its ...
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NewsSpaceJet-related losses hurt Mitsubishi Heavy earnings
The beleaguered SpaceJet regional aircraft programme, which recently saw its developmental budget halved, made up the bulk of losses parent company Mitsubishi Heavy Industries (MHI) incurred, in its first quarter earnings. For the quarter ended 30 June, the SpaceJet programme made a loss of Y68.8 billion ($648 million), due mainly ...
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NewsAircastle grants rental deferrals to half its customers
Lessor Aircastle has granted rental deferrals to 40 lessees, representing half of its customer base, as it warns the impact of the Covid-19 pandemic has been “severe” and the industry may take years to recover. The amount deferred, as of 1 August, is approximately $99 million. “In the current environment, ...
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NewsUpbeat EasyJet hikes summer capacity further than forecast
UK budget carrier EasyJet is expecting to increase its flight activity to 40% of originally-planned capacity in its fiscal fourth quarter, up from the previous estimate of 30%. EasyJet, whose fourth quarter runs to 30 September, says it also expects a smaller loss than the £325 million ($425 million) headline ...
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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 – including ...
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NewsCovid-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 31 March ...
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NewsVietJet 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 to ...
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NewsMalaysian 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 movie ...
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NewsImproving 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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NewsRussian 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 carrier Pobeda ...