All Strategy news – Page 151
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NewsChina Eastern unit OTT Airlines seeks regulatory approval
OTT Airlines, the newly-launched subsidiary of China Eastern Airlines, has applied to the Civil Aviation Administration of China (CAAC) for regulatory approval to commence operations. The CAAC discloses that OTT was established with registered capital of CNY1.5 billion ($219 million) and is solely funded by China Eastern. Source: ...
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NewsUK to set out ‘aviation recovery strategy’ this autumn
UK ministers intend to publish an ”aviation recovery plan” this autumn setting out how they will get the sector back on track, as industry stakeholders continue to press for action amid the stalled restoration of passenger services.
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NewsTAP awarded first €500 million of state rescue loan
TAP Portugal has received just under €500 million ($591 million) of its potential €1.2 billion state rescue loan from the Portuguese government, the airline has disclosed. In June, the European Commission approved Portugal’s plan to lend the carrier up to €1.2 billion to help address “immediate liquidity needs” arising from ...
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NewsStobart confirms Falko among possible buyers for regional unit
Stobart Group has confirmed it is in ‘early stage’ discussions with a number of parties including Falko Regional Aircraft over the possible sale of its regional arm Stobart Air and aircraft lessor Propius.
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NewsEC clears €200m Italian aid for Alitalia
A direct government grant of almost €200 million ($236 million) to Alitalia has been approved by the European Commission to compensate the airline for damage caused by the Covid-19 pandemic.
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NewsVirgin Atlantic to cut 1,150 more jobs after restructuring approved
UK carrier Virgin Atlantic is to cut a further 1,150 jobs after formally securing court approvals for a restructuring plan which will unlock £1.2 billion ($1.6 billion) worth of refinancing.
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Airline BusinessWhy airline lifelines might be followed by more rescue measures
News that Virgin Atlantic has secured court approval for its planned recapitalisation marks the latest in series of rescue deals that have been struck to ensure airlines around the world can stay airborne. Some have simply secured protection from creditors while they re-organise. Others have secured fresh capital – be ...
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NewsVirgin Australia creditors give green light for Bain sale
Virgin Australia’s creditors have approved the sale of the carrier to US private equity group Bain Capital, with the full transfer of ownership expected to complete by end October. At the second creditors’ meeting on 4 September, the carrier’s creditors voted in favour of Bain’s proposal, which will see unsecured ...
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NewsRyanair eyes liquidity boost as it targets €400m from share issue
Ryanair is to launch a share issue aimed at raising gross proceeds of around €400 million ($475 million) to help de-risk the group’s debt repayments and better position it to capitalise on fresh growth opportunities in the market
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NewsAirports join airline call for European winter slot waiver
Airports grouping ACI Europe has joined forces with airline bodies and slot coordinators to agree a theoretical framework for a waiver of the 80:20 “use it of lose it” rule during the upcoming northern hemisphere winter season.
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NewsAviation may not recover until 2024: trade group
US airline trade organisation Airlines for America (A4A) estimates four years will pass before travel returns to normal following the coronavirus pandemic.
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NewsJet2 sees winter bookings slow but bright picture for summer 2021
UK leisure carrier Jet2 is hopeful of offering capacity close to 2019 levels next summer after citing encouraging forward bookings for the period.
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NewsAir New Zealand’s chief commercial officer Cam Wallace resigns
Cam Wallace has resigned as Air New Zealand’s chief commercial and customer officer after 19 years with the organisation. He will leave at the end of September and will provide consultancy support to chief executive Greg Foran until the end of 2020, the carrier announced today. Source: Air ...
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NewsUnited Airlines to involuntarily furlough 16,370
United Airlines says that it will involuntarily furlough 16,370 employees at the end of this month as the long-term effects of the coronavirus crisis continue to take its toll on the air transport industry.
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NewsUK court formally backs Virgin Atlantic restructuring plan
Virgin Atlantic has completed another step in its planned recapitalisation after a court today approved its restructuring plan.
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NewsAugust is strongest traffic month for Ryanair and Wizz since crisis
The two airlines are the first in Europe to report traffic figures for the month, providing an early indication of how much passenger levels returned during the summer travel peak.
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NewsWestJet passes Nav Canada fee increases to customers
Nav Canada, the Canadian provider of civil air navigation services, has increased its fees for air traffic control services by almost 30%, prompting the country’s second largest carrier to pass those fees on to its customers.
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NewsArab carrier traffic seen not back to pre-crisis levels until at least 2024
Traffic among Arab air carriers is not now expected to return to pre-crisis levels until at least 2024 and could potentially not reach those levels before 2027, fresh analysis from the Arab Air Carriers Organisation (AACO) shows. In its third status report of the impact of the pandemic on the ...
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In depthUS pilots and cabin crew brace for furloughs: a look at the numbers
US passenger airlines are preparing to shed up to 100,000 jobs in the coming weeks unless Congress steps in to extend the financial relief that kept workers employed until now.
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NewsAir cargo traffic stabilises in July as capacity crunch continues
Air cargo traffic was stable in July but demand continues to be constrained by the lack of bellyhold capacity, according to the latest monthly report from IATA. Figures from the airline association show that demand in cargo tonne kilometre (CTK) terms fell by 13.5% year on year in July. IATA ...