Strategy – Page 167
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NewsVirgin Atlantic needs state support to survive: Branson
Virgin Atlantic needs government support to survive the coronavirus crisis, the airline’s founder warned today.
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NewsVirgin Australia bailout intensifies local war of words
Qantas does not conceal its distaste for any state support tailored to its rival Virgin Australia, which recently requested a A$1.4 billion ($890 million) bailout from the federal government to ride out the coronavirus-induced downturn. Alan Joyce, Qantas’s chief executive, said in a television interview on 20 March that it ...
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NewsWestJet lays off 1,700 workers amid wage subsidy
WestJet will lay off 1,700 pilots across its mainline carrier, regional subsidiary Encore and low-cost carrier Swoop, while keeping them on payrolls through the duration of Canada’s wage subsidy that ends in June. The Calgary-based airline tells Cirium that the layoffs will be staggered beginning on both 1 May and ...
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NewsLATAM extends 95% capacity cuts through May
LATAM Airlines has extended through May its 95% reduction in planned capacity, citing continued travel restrictions and a lack of demand because of the coronavirus pandemic.
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NewsPorter takes wage subsidies as operations remain halted
Porter Airlines will receive funds from Canada’s wage subsidy programme, allowing the carrier to pay many of the hundreds of workers it furloughed in March after grounding its fleet and suspending all operations until June.
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NewsCityJet secures breathing space by entering examinership
An Irish court has appointed an interim examiner at regional wet-lease specialist CityJet as the carrier seeks protection during the coronavirus crisis.
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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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NewsEasyJet secures cash for potential nine-month fleet grounding
EasyJet has expressed confidence it now has enough cash to survive a nine-month grounding of its fleet after securing additional funding.
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NewsStobart Group ponders move to buy back regional operator
Stobart Group is considering buying back Irish regional operator Stobart Air and lessor Propius from the administrators of Flybe parent, Connect Airways.
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NewsConcerns cargo belly-space shortage may persist after lockdowns lifted
The air freight sector is struggling to find aircraft to move medical equipment and other urgent supplies – often from Asia to the West – as a result of the coronavirus crisis.
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NewsVirgin Australia extends trading suspension amid financing talks
Virgin Australia has requested for a trading suspension following a trading halt, while it continues to work out funding options. Australia’s second-largest carrier requested a trading halt on 14 April, due to end this morning, to discuss financing and restructuring alternatives. The airline is now requesting a suspension for seven ...
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AnalysisHow Covid-19 is changing aviation in Asia-Pacific
Covid-19 has sent airlines and airports worldwide reeling and predicting the future is impossible. One thing is certain, some airlines in Asia-Pacific will fail, as the region had concerns about overcapacity and a glut of plane orders before the crisis. “Before coronavirus, the APAC region was very busy and there ...
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NewsUnited secures $5 billion in payroll support
United Airlines says it will receive $5 billion in payroll support from the CARES act, designed to assist airlines in managing through the coronavirus pandemic.
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NewsDelta secures $5.4 billion in CARES Act payroll support
US carrier Delta Air Lines will receive $5.4 billion in emergency funding through the CARES Act’s payroll support programme.
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NewsCondor looking at options after PGL pulls out of acquisition
German leisure carrier Condor is looking at different optons for its future ownership as talks continue with LOT’s parent Polish Aviation Group (PGL) on conditions attached to it withdrawing from its proposed acquisition of the airline.
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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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NewsFinnair and Juneyao deepen ties despite ‘challenging times’
Finnair has affirmed its commitment to the Chinese market amid “immensely challenging times” with the signing of a letter of intent with Shanghai’s Juneyao Air. The airlines plan to establish a joint venture on the Helsinki-Shanghai route, on which the two carriers have already been codesharing since last June. This, ...
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NewsSouthwest and American announce government aid deal
Two US passenger carriers say they have reached deals with the government on the amount of emergency financial aid promised to the industry as part of the $2 trillion CARES Act, as airlines realign their networks to face the realities of the sharp drop-off in travel demand since the coronavirus pandemic began.
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NewsIndia extends flight suspensions till 3 May
India will suspend all scheduled passenger flights for nearly three more weeks after the country extended a coronavirus-related lockdown.
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NewsNorwegian share price plummets on debt conversion plan
Scandinavian budget carrier Norwegian saw its share price nosedive when markets opened on 14 April, following its 8 April proposal to convert debt to equity in order to qualify for state aid. Shortly after the Oslo stock exchange reopened following the long Easter weekend, Norwegian’s share price was at one ...