Strategy – Page 145
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NewsAeromexico reports dismal Q3 results, but sees improvement
Grupo Aeromexico, the parent company of Mexico’s legacy carrier, Aeromexico, reported a sharp decline in year-on-year revenue and a net loss for the third quarter as the coronavirus clipped the airline’s operations and bankruptcy proceedings continue in a US court.
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NewsCovid-19 ‘to sort winners from losers’: Wizz chief
Wizz Air chief executive Jozsef Varadi sees a “major opportunity” for his carrier to expand into the vacuum left by retrenching competitors amid the Covid-19 crisis. During an online broadcast by the UK’s Aviation Club, Varadi said Wizz had been “waiting for a crisis” to emerge since the financial crash ...
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NewsLufthansa expects third-quarter EBIT loss of €1.3 billion
Lufthansa Group’s preliminary third-quarter results indicate that losses were less steep than in the previous quarter, which it attributes to an expanded summer flight schedule and “considerable cost reductions”. The German airline group expects to post an adjusted EBIT loss of almost €1.3 billion ($1.5 billion) for the three months ...
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NewsSingapore Airlines marks return to New York with JFK nonstop
Singapore Airlines (SIA) will launch nonstop flights between Singapore and New York JFK from 9 November – the first time the carrier will operate such flights between the two airports. Announcing the route’s launch, the SIA says it will operate thrice-weekly flights using its Airbus A350-900s. ...
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NewsFinnair reaches agreement to cut 700 jobs
Finnair has reached an agreement to cut 700 jobs – more than 10% of its workforce – as it grapples with the impact of the coronavirus pandemic.
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NewsCrisis means American Airlines ‘feels like start-up company’
The impact of the coronavirus crisis means American Airlines sometimes feels more like ”a $2-3 billion start-up company” than one of the world’s largest and longest-established operators, according Rhett Workman, the carrier’s managing director for Europe and Asia-Pacific.
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NewsUK to implement testing regime by December: transport secretary
The UK is hoping to roll out a testing regime for inbound travellers by 1 December with the aim of reducing quarantine times to one week, transport secretary Grant Shapps has revealed. During the Airlines 2050 conference today, Shapps said that under the government’s current plan, passengers would pay for ...
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NewsNo short-term return for A380: Qatar Airways chief
Qatar Airways does not expect to operate its Airbus A380s for at least two years, according to the Middle Eastern carrier’s chief executive Akbar Al Baker.
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NewsGlacial recovery will see Cathay operate below half capacity in 2021
Cathay Pacific will operate only around 10% of its capacity for the rest of year, and just about half for the coming year. This comes as it warns of a very slow recovery in passenger traffic, despite seeing some signs of month-on-month growth. Source: Max Kingsley-Jones/FlightGlobal Cathay Pacific ...
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NewsQantas to exit joint venture with Vietnam Airlines: report
Australia’s Qantas plans to give up its stake in low-cost carrier Pacific Airlines to joint venture partner Vietnam Airlines, according to a media report. This will be transferred at no cost and the deal is expected to be finalised by the end of October, DealStreetAsia, a Nikkei-owned Asia-focused financial publication, ...
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NewsTransat down to 160 flight attendants in November: union
Canada’s Air Transat will be laying off more flight attendants and closing a west-coast base in the coming weeks as the coronavirus continues to take its toll on the country’s air transport industry, the Canadian union for public employees (CUPE) says.
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NewsAir Canada chief Rovinescu to retire in early 2021
Long-standing Air Canada chief executive Calin Rovinescu is to retire in February and will be replaced by his deputy and chief financial officer Michael Rousseau.
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NewsGaruda Indonesia details $580 million government funding
Garuda Indonesia has disclosed details of Rp8.5 trillion ($580 million) in government funding approved by parliament in July. This will take the form of a seven-year unsecured bond that will be converted to new shares at maturity. Source: Airbus Garuda Indonesia says government funding is necessary for ...
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NewsUnited’s recovery plan built around late 2021 arrival of vaccine
United Airlines says it will have enough liquidity to not just survive the “difficult” 12-15 months ahead but to be the first among its network peers to return to positive cash flow when an effective Covid-19 vaccine becomes widely available.
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NewsFirefly reverts to jet operations amid broad restructuring
Malaysian regional carrier Firefly – most recently the subject of speculation that it might become the country’s flag carrier – will commence jet operations from next year, reverting to an earlier plan which was eventually shelved. Announcing the move, parent company Malaysia Airlines says the carrier will add up ...
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NewsRyanair cuts winter capacity to 40% of 2019 level
The Irish operator blames “increased flight restrictions” imposed by European governments, which caused forward bookings to “weaken slightly” in October and “materially” in November and December.
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NewsUnited Airlines reports $1.8bn Q3 loss as revenue falls 78%
United Airlines reported a $1.8 billion loss for the third quarter as it restructured its operations to reflect lower demand following the near-collapse of the passenger aviation industry earlier this year.
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NewsDelta posts $5.4bn Q3 loss, sees bright spots
Delta Air lines reported a third quarter loss of $5.4 billion as the airline begins to regroup following a catastrophic summer brought on by the coronavirus global pandemic.
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NewsPorter pushes back restart to December
Canada’s Porter Airlines has pushed back its restart date for the sixth time as ongoing travel restrictions in Canada hamper the industry’s overall recovery in that country.
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NewsBreeze signs sale-and-leaseback deal covering five A220s
Planned US start-up Breeze Airways has signed a sale-and-leaseback agreement with lessor Voyager Aviation for five Airbus A220-300s.