All Coronavirus articles – Page 54
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NewsHeathrow trials aim to set common standard for bio-screening
London Heathrow airport’s operator is looking to assist with establishing a common international standard for health screening, by testing technology intended to reduce the risk of coronavirus transmission. It is to explore such options as ultra-violet sanitation – which could be applied to security trays – plus contactless security procedures ...
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NewsTrans-Tasman bubble efforts gather pace
A joint Australia-New Zealand business-led initiative has set up a new group to develop proposals for reopening the border between the two countries to drive travel as they recover from the Covid-19 crisis. Both Australia and New Zealand are currently closed to non-residents and anyone entering must undergo a 14-day ...
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NewsAirlines move to resume Cambodia services: report
Local and foreign carriers are moving to resume flights out of Cambodia, as the country works to overcome the impact of the coronavirus pandemic.
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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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NewsAlaska seeks to cut monthly cash burn to $200 million by June
Alaska Air Group reported a $321 million operating loss during the first quarter as it seeks to reduce costs during the coronavirus downturn, which is a far cry from the same period in 2019 when the carrier generated $25 million in operating profit. The parent company of Alaska Airlines and ...
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NewsSouth Africa’s Comair files for business rescue
South African carrier Comair has become the latest operator in the country to enter business rescue, as it aims to restructure to deal with the coronavirus crisis. Comair made a pre-tax loss of R645 million ($35 million) for the six months to 31 December. “While we had started making good ...
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NewsVirgin Atlantic to cut over 3,000 jobs and cull 747-400 fleet
UK long-haul carrier Virgin Atlantic is to cut over 3,100 jobs and retire its Boeing 747-400s in an effort to address the financial pressure of the coronavirus crisis. The airline says it will “immediately suspend” the use of all seven of its 747-400s and is still intending to retire four ...
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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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NewsAsia-Pacific governments cautious on cross-border travel
Asia-Pacific governments are taking a tentative approach to opening up international travel as the coronavirus pandemic starts to abate, with the possibility of a “bubble” containing Australia and New Zealand. In a press briefing following a virtual meeting with Australia’s national cabinet, New Zealand prime minister Jacinda Arden said that ...
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NewsQantas puts Project Sunrise on hold
Qantas is putting Project Sunrise on hold, citing the impact of the Covid-19 outbreak on air travel. “We do think there is a huge potential for Project Sunrise but the time is not right now given the impact that Covid-19 has had on world travel,” chief executive Alan Joyce said ...
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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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NewsGermany’s Airbus suppliers ‘face ruin’, warns trade association
BDLI says that unless at least 50% of pre-crisis production resumes soon, many smaller companies could go out of business
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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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NewsHainan optimistic of rebound amid steep Q1 loss
Hainan Airlines swung back into the red for its first-quarter results for 2020, joining other Chinese carriers who reported losses amid the coronavirus outbreak. However, the carrier, China’s fourth largest, is optimistic its financial results will improve in the second quarter, as it “adjusts its business strategy” and cuts ...
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NewsIcelandair Group reduces cash drain as it faces $200m first-quarter loss
Icelandair Group is expecting employee cuts to reduce its cash outflow by $12 million per month over the next three months, taking into account measures by the government to pay partial salaries. The company is expecting to reveal a first-quarter loss of $208 million when it details its performance for ...
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NewsWarren Buffett’s investment firm sells out of four major US carriers
Renowned investor Warren Buffett has dumped his stakes in four major US carriers, four years after joking that his firm Berkshire Hathaway was set to benefit from airlines’ tendency to increase fares ahead of its shareholder events. Buffett disclosed the decision to shareholders during Berkshire Hathaway’s 2020 event on 2 ...
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NewsSafran keeps close watch on supply chain for signs of coronavirus stress
Safran is monitoring its entire global supply chain for signs of weakness amid the coronavirus pandemic, with the aerospace giant ready to deploy a range of remedies for the most seriously afflicted.
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NewsIcelandair Group seeks to raise $200m through new shares
Icelandair Group is planning to issue up 30 billion new shares to support its financial position, with the aim of raising up to $200 million in equity. The company has about 5.4 billion shares in issue, giving it a market capitalisation of around IcKr12.9 billion ($88.6 million). Icelandair Group has ...
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NewsRyanair signals 3,000 job cuts as it discusses fleet deferrals
Ryanair is expecting to cut up to 3,000 jobs from July and shut a number of European bases, as it projects that a post-crisis recovery will take at least two years. The airline is negotiating with Boeing to reduce planned deliveries of new 737s for the next 24 months, and ...
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NewsComair expects to remain grounded until at least October
South Africa’s Comair is in “a very difficult financial position” due to coronavirus-related travel restrictions and does not anticipate being able to resume flights until October or November, the carrier has disclosed.