All Strategy news – Page 144
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Airline BusinessDo airlines have the management to thrive in the post-crisis market?
While industry analysts have been busy predicting how airlines might navigate their way through the crisis, Peter Davies, founder of Airline Management Group, argues the big challenge will be finding the exceptional talent and imagination in leadership needed to deliver on plans in the new normal
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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.
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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.
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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 ...
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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.
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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.
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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.
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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”.
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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.
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Airline BusinessResilient Philippine Airlines fights the odds against coronavirus
The Philippines has had a tough run during the coronavirus pandemic, but Philippine Airlines (PAL) is determined to keep fighting to preserve the island nation’s connectivity.
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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.
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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.
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Airline BusinessHow protests and pandemic pushed Cathay to the brink
As Covid-19 tore into the aviation industry, some airlines were able to fall back on the profits of previous years, but the impact of anti-government protests removed any possible cushion for Hong Kong’s flag carrier.
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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 ...
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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”.
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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, ...
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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 ...
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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 ...