All Strategy articles – Page 180
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NewsBlue Air takes creditor protection step as it rebuilds network
Romanian carrier Blue Air has taken a preventative measure under local insolvency law as it further restores its network after the coronavirus grounding. Blue Air says it has taken the protective measure of ’concordant procedure’ - a preventative action under which companies seek to reach agreement with creditors. ...
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NewsVirgin Australia bondholders challenge sale to Bain Capital
Two parties representing Virgin Australia bondholders have challenged the airline’s sale to Bain Capital with the intention of making an alternative proposal. In an application to the Australian Takeovers Panel, Singapore-based fund manager Broad Peak Investment Advisers (Broad Peak) and Hong Kong’s Tor Investment Management submit that “certain circumstances regarding ...
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NewsPandemic pushes AirAsia into the red
AirAsia Group slipped to a MYR953 million ($223 million) net loss in the first quarter, down from a MYR102 million profit in the same three-month period of 2019, as Covid-19 caused demand to plummet.
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NewsJapan’s ANA and JAL secure $1.6bn in export-credit guarantees
The Japan Bank for International Cooperation is providing guarantees totalling Y174 billion ($1.6 billion) for aircraft-import loans to ANA Holdings and Japan Airlines. The export-credit agency on 9 June signed an agreement with private financial institutions to provide a Y88.4 billion guarantee against the principal and interest of their loans ...
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NewsAir France to shed over 7,000 jobs as part of €7 billion bail-out
Air France will shed almost 7,600 jobs over the next three years in an accelerated restructuring implemented in parallel with €7 billion ($7.9 billion) worth of government-backed loans.
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NewsEU approves Latvian government’s €250 million aid for Air Baltic
Air Baltic’s €250 million ($281 million) government bail-out, taking the form of an equity investment, has received the green light from the European Commission.
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NewsHelvetic pushes back seven E2 deliveries to 2021
Swiss regional carrier Helvetic Airways has deferred delivery of seven Embraer 190-E2s that were due to join its fleet this year.
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NewsUK to lift quarantine restrictions for more than 50 countries
Travellers arriving in England from more than 50 countries will no longer be required to self-isolate for 14 days from 10 July, the UK government has confirmed.
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NewsJeju Air may abandon Eastar Jet acquisition: report
South Korea’s Jeju Air could scrap plans to acquire a majority stake in compatriot low-cost carrier Eastar Jet. Citing difficulties in ongoing discussions, a Jeju official was quoted as saying the carrier will consider abandoning the deal within 10 business days, Reuters reported on 2 July. On 29 June, Eastar ...
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NewsBritish Airways outlines return of more long-haul services
British Airways has outlined plans to restart services to a raft of destinations in July, including some long-haul routes.
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NewsQatar Airways to operate two-thirds of pre-Covid network in July
Boston, Toronto and Venice are among 18 more destinations being reinstated by Qatar Airways in July as it seeks to rebuild its network to include 65 points by the mid-month.
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NewsThai Airways names new acting president
Thai Airways International has named Chansin Treenuchagron as acting president, replacing Chakkrit Parapuntakul. His appointment takes effect on 2 July, says Thai in a 1 July stock-exchange disclosure. Source: Shutterstock Thai Airways fleet at Bangkok airport May 2020 Treenuchagron joined the carrier on 4 June as an ...
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NewsAeromexico files for bankruptcy
Grupo Aeromexico, the parent company of Mexican flag carrier Aeromexico, has filed for Chapter 11 bankruptcy protection in the US after the coronavirus pandemic decimated its business.
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NewsDespite almost certain job cuts, airlines sell vision of brighter days ahead
US airline human resources executives forecast short-term pain for aviation employees but must remain upbeat that their industry will find a way out of its current slump in order to attract candidates back to fulfilling careers when the coronavirus is history. For many of them, it’s a tough sell.
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NewsYet again, New Delhi extends Air India sale deadline
Bids for state-owned Air India were meant to close today, but the government has extended the deadline for a further two months. In a seventh revision for expressions of interest to buy Air India, including its 100% stake in Air India Express and 50% stake in Air India SATS Airport ...
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Airline BusinessQatar Airways chief Al Baker on reactive approach to crisis
A reactive strategy has helped Qatar Airways keep a significant number of aircraft flying in the crisis, says group chief executive Akbar Al Baker, as the airline prepares for the recovery.
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NewsKLM secures €3.4bn in state support
Dutch carrier KLM has sealed state backed financing of €3.4 billion to help it through the coronavirus crisis under an agreement which is tied to conditions around cost reductions and environmental performance. The Dutch government had in April pledged an aid package to KLM in the form of state guarantees ...
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NewsBain Capital wins bid for Virgin Australia
Bain Capital has won the bid for Virgin Australia and is working with the airline’s administrators to close the sale, which is “subject to minimal conditions precedent”. The final shortlist, announced on 2 June, comprised US private investment firm Bain and the Richard Branson-linked Cyrus Capital Partners, a New York-based ...
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NewsLufthansa shareholders confirm bailout approval
Lufthansa shareholders have approved a €9 billion ($10.1 billion) financial rescue from Germany’s economic stabilisation fund (WSF) at an extraordinary general meeting today. The vote in favour of the financial package was expected after the airline’s biggest shareholder Heinz-Hermann Thiele indicated he would support the deal. Under the financial plan ...
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NewsAir Canada chief executive blasts government for maintaining travel restrictions
Air Canada’s chief executive Calin Rovinescu excoriated the government of Canada for maintaining draconian coronavirus-prompted travel restrictions across the country, hindering the air transport industry’s ability to return to any semblance of normal operations.