Strategy – Page 144
-
NewsSpirit Airlines reports Q3 loss, anticipates more end-of-year travel
Spirit Airlines reports lower third-quarter results and is preparing for a significant upturn as leisure travellers look to the end-of-year holidays to begin to alleviate their pent-up demand for cheap, safe travel to visit family and friends.
-
NewsAllegiant Q3 results up as the airline is “flirting with break-even”
Allegiant Travel Company, the parent of ultra-low-cost carrier Allegiant Air, is “flirting with break-even” as point-to-point leisure travel rebounds faster than other parts of the aviation industry after it came to a near-standstill earlier this year.
-
NewsRyanair to suspend service from all Irish airports except Dublin
Ryanair will temporarily cease operations from all Irish airports except Dublin for a one-month period, blaming government “mismanagement” and a “complete collapse in travel demand”.
-
NewsHawaiian posts $97m Q3 loss, details 787 delivery delays
Hawaiian Airlines posted a $97 million loss in the third quarter, as the state’s coronavirus-driven quarantine requirements hampered air travel demand – and the airline’s recovery.
-
NewsJetBlue reports sharply lower Q3 but sees leisure rebound
JetBlue Airways reported sharply declining third-quarter financial results but remains optimistic that the coming weeks will bring recovery as customers begin planning travel for the end-of-year holiday season.
-
NewsANA swings to big first-half operating loss amid pandemic havoc
All Nippon Airways’ parent company ANA Holdings ended its first half of fiscal 2020 deep in the red, as it forecast a record full-year net loss of Y510 billion ($4.7 billion), citing a “significant decline” in passenger travel demand. The group also expects to book significant impairment losses – ...
-
NewsAir Baltic to operate 40 winter routes
Latvian carrier Air Baltic plans to maintain “essential connectivity” through the winter months, linking its Riga hub with 40 destinations.
-
NewsUS DOT approves WestJet-Delta transborder joint venture
The US Department of Transportation (DOT) has tentatively approved a joint venture application from Delta Air Lines and Canada’s WestJet for transborder travel, under certain conditions.
-
NewsDenmark and Sweden up SAS stakes to 22% in recapitalisation
The Danish and Swedish governments have each agreed to increase their stakes in SAS to 21.8% under the Scandinavian carrier’s SKr14.25 billion ($1.62 billion) recapitalisation plan, which has now been finalised. SAS obtained approval from both governments in August for its revised recapitalisation plan, which was originally disclosed on 30 ...
-
NewsSouthwest reports record loss, addresses fleet changes and travel rebound
Southwest Airlines, the last of the four major US airlines to report third-quarter results, posted a record loss for the period but remains optimistic that the worst of the downturn has passed and that demand is rebounding.
-
NewsAmerican posts $2.4bn loss in Q3, retires all A330s
American Airlines reported a staggering third-quarter loss and announced additional fleet retirements as it joins industry peers in lurching toward a new normal following the shock of the coronavirus pandemic.
-
NewsAlaska reports market improvement despite $431m Q2 loss
Alaska Air Group lost $431 million in the third quarter of 2020, though the company insists its passenger and financial figures continue improving month by month.
-
NewsCondor to exit ‘protective shield’ in November
Condor has disclosed that its creditors have approved a plan for it to leave ‘protective shield’ proceedings at the end of November as a “healthy company”.
-
NewsIndian regional Alliance Air posts first profit prior to pandemic
Air India regional unit Alliance Air posted its first ever operating profit in the year immediately prior to the global pandemic hitting air travel demand.
-
NewsNationalise Air Canada? Union floats idea of returning to government ownership
A Canadian union has floated the idea of re-nationalising legacy carrier Air Canada in light of the “disheartening impact” of the coronavirus pandemic and the government’s lack of support for the industry.
-
NewsAir Canada will fly all-business-class A319s to warm-weather cities this winter
Air Canada will deploy all-business-class configured Airbus A319s on selected scheduled routes this winter as it searches for passengers after the coronavirus decimated Canada’s air transport industry.
-
NewsAirAsia Berhad secured new loan: airline chief
Budget carrier AirAsia Berhad has agreed fresh funding as it seeks to navigate its way through the Covid-19 crisis. The Kuala Lumpur-based airline tells Cirium in a statement that it is unable to disclose the lenders or the amount being made available. Source: AirAsia AirAsia has confirmed that ...
-
NewsCathay confirms 777-9 deliveries delayed to ‘beyond 2025’
Cathay Pacific has given an indication of the timeline surrounding deferrals of its Boeing 777-9 aircraft, confirming that the widebodies will only be delivered “beyond 2025”.
-
NewsLessors baulk at Malaysia Airlines’ restructuring plan
Sixteen third-party lessors have exposure to Malaysia Airlines, which earlier this month announced an “urgent restructuring exercise” that would include a “drastic” relook at its network and fleet plans. Leasing executives from some of those lessors, who spoke to Cirium on condition of anonymity, are not happy about the plan, ...
-
NewsCathay shutters Cathay Dragon brand, axes 5,900 jobs
Cathay Pacific Group will cut 5,900 jobs, in a HK$2.2 billion ($284 million) restructuring exercise that will also see the Cathay Dragon brand cease operations effective immediately. As part of restructuring efforts, the group will eliminate 8,500 positions, or about 24% of its existing headcount. Of these, 2,600 ...