Latest Airlines news – Page 265
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NewsChinese airline market faces consolidation: HSBC
Consolidation among Chinese carriers appears likely, given the “unprecedented challenges” that the global airline industry is facing. A HSBC Global Research report into the Chinese airline industry says it does not “rule out the possibility of further consolidation”, adding that the three largest Chinese carriers — Air China, China ...
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NewsVirgin Australia enters voluntary administration
Virgin Australia has entered voluntary administration as it seeks to recapitalise the business. “The decision comes as the group has continued to seek financial assistance from a number of parties, including state and federal governments, to help it through the unprecedented crisis, however is yet to secure the required support,” ...
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NewsMesa accepts $93 million in payroll grants
Mesa Air Group, the parent of Phoenix-based Mesa Airlines, will accept $93 million in payroll support from the federal CARES Act. The US Treasury will not require Mesa to enter into a loan or equity agreement in exchange for the funds because the amount is less than $100 million, a ...
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NewsANA lowers full-year forecast on coronavirus impact
All Nippon Airways’ parent company has revised down its financial results forecast for the fiscal year ended 31 March 2020, as the coronavirus outbreak batters air traffic. ANA Holdings expects operating revenues to come in at Y1.97 trillion ($18.3 billion), Y120 billion lower than the previous forecast disclosed on 29 ...
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NewsIndian carriers to fully refund ‘lockdown’ tickets
Indian airlines have been asked to issue a full refund for tickets booked for travel during the country’s recently extended lockdown period, and this could impact their cash position. In a memorandum published on its official Twitter account, the Directorate General of Civil Aviation (DGCA) said on 16 April that ...
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NewsChinese carriers warn of ‘substantial’ Q1 loss from pandemic hit
Two of China’s largest airlines have warned of a “substantial loss” for their first-quarter financial results. Both China Eastern and China Southern Airlines flagged the financial hit in their monthly traffic results for March, where they note that even with “timely measures” taken to mitigate the of the coronavirus outbreak, ...
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NewsUnited sells 22 jets for leaseback including 787s
United Airlines is selling six Boeing 787-9s and 16 737 Max jets in a leaseback deal with the US division of Singaporean lessor BOC Aviation. BOC Aviation has disclosed the details of the transaction to the Hong Kong stock exchange. It states that the transaction covering the 22 aircraft is ...
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NewsWhat challenges are airlines facing through coronavirus grounding by region
No airline or air travel market has been left untouched by the coronarvirus epidemic, which has all but brought to a halt international scheduled passenger services. IATA if now forecasting airline traffic will be roughly half the levels seen in 2019 as national lockdowns take hold and with the likelihood ...
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NewsIcelandair plans new share issue to prop up financial position
Icelandair Group is preparing to issue new shares to shore up its liquidity and strengthen its financial position during the coronavirus-driven downturn. The company has yet to disclose the size of the share issue planned. But it says the intention of the offer is to ensure its “long-term competitiveness” after ...
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NewsVietJet secures repayment deferral on aircraft loans
Low-cost carrier VietJet has managed to secure deferrals of loan repayments for aircraft purchases from most of its lenders. VietJet states that it has been “working hard” with its suppliers, local and foreign financial institutions to cut 30-70% of prices and service fees, and to extend payment terms. ...
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NewsPost-pandemic demand recovery ‘impossible to predict’: Cathay
March proved to be yet another month of weak traffic figures for Cathay Pacific, which states that it is “impossible to predict” when passenger demand will recover from the coronavirus crisis. Commenting on its traffic results for March, Cathay adds that it is not seeing any improvement so far in ...
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NewsSIA Group flags financial impact of limited passenger network
Singapore Airlines Group expects to extend capacity cuts and warns of material impact to its financial performance in the quarter ended 31 March. Singapore banned short-term visitors from entering or transiting from 24 March, and the group said in a stock-exchange disclosure on 15 April that “capacity was further rationalised ...
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NewsFAA extends slot relief at US airports until October
The FAA says it will extend slot relief at seven major US airports through the summer travel season so that airlines will not be penalized as a result of reduced flying schedules caused by the coronavirus pandemic.
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NewsFinnair converts A350 passenger cabins for freight transport
Finnair is the latest airline to temporarily transform passenger cabins into freight carriages, disclosing plans to fill two of its Airbus A350s with cargo to boost capacity between Europe and Asia. Until now, Finnair has only transported freight in the belly of its passenger A350s. However, the airline has unveiled ...
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NewsCAAC warns that air traffic return will be slow
While some capacity has been restored for Mainland China flights, it is likely to remain low for the foreseeable future. In its monthly update, the Civil Aviation Administration of China (CAAC) states that “the volume of flights…may continue to to operate at low levels in the future”, as the ...
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NewsVietJet mounts freighter flights with passenger jets
Vietnamese low-cost carrier VietJet Air has begun flying passenger freighter flights, as it gradually begins resuming domestic passenger service. The airline states in an update that it is operating about 10 cargo flights daily, with services to points within Vietnam and to Japan, South Korea and Southeast Asia. ...
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NewsAlaska to collect nearly $1bn in payroll support
Alaska Air Group, the parent of Alaska Airlines and Horizon Air, will accept $992 million in payroll support and plans to apply for $1.1 billion in loans to support short-term liquidity under the provisions of the federal CARES Act. The Seattle-based company on 14 April said it had agreed with ...
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NewsIndian low-cost carriers outline post-lockdown plans
Some Indian low-cost carriers have outlined post-lockdown operation plans after the country’s civil aviation authority extended a ban on flights in a bid to slow the spread of the coronavirus. The country’s civil aviation authority said on 14 April that all domestic and international scheduled airline operations will remain suspended ...
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NewsAsia-Pacific carriers extend capacity cuts
Air New Zealand and South Korea’s major airlines will keep their international schedules pared down, according to updates from the carriers. Air New Zealand is extending its minimal schedule, which has 95% of its capacity cut, through to the end of June, it said on 11 April. It is maintaining ...
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NewsChina Southern beefs up Beijing Daxing capacity
China Southern Airlines aims to move its entire Beijing operations to the capital city’s new Daxing International airport by March 2021. In an update, China Southern states that from 12 April to 2 May, it will move an additional 50% of its flights from Beijing Capital to Beijing Daxing. ...