All Strategy news – Page 159
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NewsJapan to suffer heaviest revenue hit among APAC countries: IATA
Japan, Australia, India and South Korea are the Asia-Pacific countries that will see the worst revenue impact from the Covid-19 pandemic, running into tens of billions of dollars, IATA has predicated. In providing a country-by-country breakdown, IATA reiterates its 9 June forecast that Asia-Pacific, as the first region to feel ...
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NewsAmerican expects this week to notify pilots of layoffs
American Airlines intends to notify pilots this week of potential layoffs, a move coming after executives estimated the airline may need to cut some 1,500 pilot jobs.
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NewsLufthansa prepares launch of new leisure unit Ocean
Lufthansa has incorporated a new entity named Ocean to operate long-haul flights to tourist destinations and reduce the “complexity” of the group’s current presence in that segment.
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NewsEuropean Commission gives KLM state financing the go-ahead
KLM’s €3.4 billion ($3.8 billion) state-support package has been approved by the European Commission.
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NewsCathay shareholders approve HK$39 billion bailout plan
Cathay Pacific’s shareholders have given the green light for a HK$39 billion ($5.03 billion) recapitalisation plan. At the closing of an extraordinary general meeting held on 13 July, the carrier’s shareholders voted overwhelmingly to approve the plan. In total, three resolutions and two special resolutions were put up ...
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NewsAmerican seeks Boeing’s help to avoid 737 Max cancellations: report
American Airlines is reportedly seeking Boeing’s help to arrange financing for the purchase of at least one dozen 737 Max jets scheduled to be delivered this year, with the fate of those orders hanging in the balance.
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NewsBreeze applies for certificate transfer, presents business plans
Breeze Airways, the start-up passenger carrier headed by serial aviation entrepreneur David Neeleman, has applied to acquire the certificate of now-defunct Compass Airlines, and published plans for its first year of operation.
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Airline BusinessHow Ryanair is increasingly locking horns with Wizz
While most of Ryanair’s fire is aimed in the direction of highlighting potential competition concerns resulting from the state bailouts, it has increasingly been squaring up with central European budget carrier Wizz Air.
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NewsLevel France becomes latest coronavirus crisis airline casualty
IAG’s Paris Orly-based long-haul budget unit, Level France, is to cease operations after seeing demand for its transatlantic services plummet.
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NewsJapan Airlines and Malaysia Airlines to launch joint business
Japan Airlines and Malaysia Airlines expect to launch a joint business partnership on 25 July, through which the two national carriers will co-operate commercially on flights between Malaysia and Japan. JAL says the airlines will “take on new challenges to further enhance convenience between Japan and Malaysia and allow customers ...
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NewsStruggling Air Namibia cleared to resume flights
Under pressure Air Namibia has been cleared by the Namibian High Court to resume services after its operating licence was suspended amid continued financial concerns.
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NewsJet2 ‘confident’ demand will return as full-year profit slides
UK leisure carrier Jet2’s parent company, Dart Group, has reported a 10% decline in full-year pre-tax profit but is “confident” demand will return and “encouraged” by bookings for next summer.
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NewsLATAM secures key funding as Brazilian unit joins Chapter 11 filing
LATAM Airlines Brazil has joined other parts of the airline group in entering Chapter 11 bankruptcy protection as it took a further step to securing required financing to complete its restructuring.
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NewsBOC Aviation boosts second-quarter lease commitments
BOC Aviation’s recent sale-and-leaseback spree helped it record more signed lease commitments in the second quarter than in the same period last year, though aircraft sales were down. The Singapore-based lessor signed leases for 38 aircraft in the three months ended 30 June, compared with 32 in 2019’s second quarter. ...
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NewsUnited warns 36,000 employees their jobs are in danger
United Airlines has warned 36,000 employees, or 45% of its total staff, that their jobs may be in danger as the carrier prepares to downsize following the coronavirus pandemic.
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NewsHi Fly confirms LHT oversaw A380 freighter conversion
European wet-lease operator Hi Fly has brought into service a freight-optimised Airbus A380, which has been temporarily converted from passenger configuration in a project overseen by Lufthansa Technik.
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NewsUK cabin crew join Ryanair pilots in accepting temporary pay cuts
Ryanair cabin crew members based in the UK have agreed to a temporary pay cut of up to 10% to avert job losses at the airline.
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NewsAuditor questions AirAsia Group’s survival
Accounting firm Ernst & Young has questioned the AirAsia Group’s ability to remain a going concern, citing deteriorating finances amid the coronavirus pandemic. It notes that the group suffered a full-year net loss of MYR283 million ($66 million) in 2019, a year in which liabilities exceeded assets by MYR1.8 billion. ...
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NewsAerCap sees big drop in Q2 lease agreements
Lessor AerCap signed lease agreements covering only 10 aircraft in the second quarter of 2020, down from 48 in the same period last year. The 10 aircraft comprise one widebody and nine narrowbodies, while in Q2 2019 AerCap signed deals for four widebodies and 44 narrowbodies, says the company. Aircraft ...
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NewsUnited sees cancellations rise, warns of furloughs
United Airlines says cancellations of forward bookings are once again rising due to new travel restrictions and increasing numbers of coronavirus cases across the southern sun belt states, prompting a warning that furloughs will be inevitable.