All Strategy articles – Page 161
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NewsAir Arabia posts third-quarter loss as crisis impact continues
Air Arabia made a net loss of Dh44 million ($12 million) on revenues down 80% in the third quarter, a period in which the low-cost carrier was able to resume services after the initial pandemic lockdown. The group carried 665,500 passengers in the three months to end-September across its five ...
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NewsRevenue collapse widens Cebu Pacific third-quarter loss
Cebu Pacific continued its loss-making streak for the third quarter this year, as it widened its operating losses on the back of a steep revenue decline. For the quarter ended 30 September, the Philippine low-cost carrier and its subsidiaries reported an operating loss of Ps6.7 billion ($139 million), reversing ...
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NewsLufthansa lifts liquidity with €600m bond issue
Lufthansa has bolstered its liquidity by placing a €600 million ($712 million) convertible bond. The German airline group says the transaction was more than six times oversubscribed. The bonds, which have an annual coupon of 2%, are redeemable in November 2025. Source: Lufthansa Lufthansa Group executive board ...
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NewsUnion conflict erupts at TUIfly over restructuring plan
Management at German leisure carrier TUIfly and pilot union Vereinigung Cockpit are blaming each other for a breakdown in talks about restructuring measures amid the air transport crisis.
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NewsWizz signs ‘indefinite’ contract with chief Varadi
Wizz Air chief executive Jozsef Varadi has agreed to lead the central European budget operator indefinitely. In a 10 November stock-exchange notice, Wizz says it has agreed a new service contract with Varadi. Source: BillyPix “The contract term is indefinite and the terms of his service agreement ...
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NewsVaccines mean summer could see 80% of 2019 demand: Ryanair chief
Intra-European air travel is likely to see “some degree of normality” in summer 2021 as a result of positive vaccine developments, according to Ryanair group chief executive Michael O’Leary.
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NewsNorwegian flags ‘significant’ bankruptcy risk amid heavy losses
Scandinavian budget carrier Norwegian has today warned that it faces a “significant risk” of insolvency, as it revealed a third-quarter net loss of NKr980 million ($108 million). Still reeling from the Norwegian government’s 9 November announcement that it would not provide any more financial support to the struggling airline, the ...
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NewsAir Canada reports Q3 loss, defers aircraft deliveries
Air Canada reported another quarterly loss as it continues to shrink its fleet and defer aircraft deliveries amid a slow recovery hindered by ongoing strict travel restrictions in the country.
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NewsAviation will need 27,000 new pilots in 2021 as shortage continues despite downturn: CAE
Despite an industry slump that has seen mass pilot layoffs, the global civil aviation industry will still require an estimated 27,000 new pilots by the end of 2021, or 264,000 over the coming decade.
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NewsMinicucci to succeed Tilden as Alaska chief executive next year
Alaska Air Group chief executive Brad Tilden is to step down from the role on 31 March 2021 to be succeeded by Alaska Airlines’ president and long-time company veteran Ben Minicucci.
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NewsSouth Africa's Comair to restart with 15 aircraft on 1 December
South African carrier Comair will initially operate 15 aircraft across its two airline brands when it restarts flights from 1 December.
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Airline BusinessCalm before the storm for airline failures
The relatively small number of airline failures so far is not indicative of the health of the sector.
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NewsNorwegian warns of ‘uncertain future’ after government rejects support request
Norwegian is facing “a very uncertain future” after Norway rejected requests from the airline for further financial support. Oslo notes that in respone to the coronavirus crisis the state’s extraordinary contribution to aviation in Norway so far in 2020 amounts to NKr13 billion ($1.4 billion). Source: Norwegian ...
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NewsGaruda sees quarterly losses narrow on revenue uptick
Garuda Indonesia trimmed its quarterly losses — led by a modest uptick in revenue — as it saw some degree of domestic recovery amid the coronavirus crisis. Releasing its results for the quarter ended 30 September, the Indonesian flag carrier posted an operating loss of $346 million, reversing the $171 ...
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NewsCanada considers financial aid for aviation industry
The government of Canada has said it is considering financial aid for that country’s aerospace industry, as the coronavirus crisis drags on.
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NewsSIA converts two 777-300ERs into temporary freighters
Singapore Airlines has modified two Boeing 777-300ERs to carry cargo in the passenger cabins, tapping into freight as an alternative revenue stream as it copes with depressed passenger demand from the coronavirus crisis. The carrier states that the first of the two converted aircraft took off on 5 November, ...
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NewsSouthwest plans to furlough 42 workers after cost-cutting talks break down
Southwest Airlines has warned a group of employees that their jobs are in danger after talks with the workers’ union about cost-cutting measures across the company broke down.
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NewsLufthansa prepares ground for possible part-sale of MRO unit
Lufthansa Group is making preparations for responding to enquiries from investors interested in taking a stake in its MRO division.
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NewsKLM gets green light for €3.4 billion state loan package
KLM has received final approval for its “crucial” €3.4 billion ($4 billion) loan package from the Dutch government. The airline states in a 6 November stock-exchange notice that following agreements with eight trade unions, it has now “satisfied a key requirement” for accessing the aid, “ensuring final approval” of the ...
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NewsFinnair defers delivery of three remaining Airbus A350s
Finnair has reached an agreement with Airbus to defer delivery of its three outstanding A350-900s by around two years. The Oneworld carrier says the three A350-900s were originally scheduled for delivery from the second quarter of next year through to the second quarter of 2022. Finnair says the new delivery ...