All Strategy news – Page 170
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Airline BusinessEuropean carriers face long haul through coronavirus crisis
If the relative financial success of the European airline industry had always seemed paradoxical given the glut of carrier failures over the past three winters, the coronavirus outbreak has to some extent been a leveller.
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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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Airline BusinessCoronavirus crisis threatens to push South African carriers over the edge
While the coronavirus pandemic has had a wide-ranging impact across African carriers, the timing of the crisis has been particularly calamitous for South Africa’s struggling airline sector.
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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 ...
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NewsVirgin Australia enters trading halt amid financing talks
Virgin Australia has requested a halt in the trading of its shares while it discusses financing and restructuring options. The airline, which has requested a A$1.4 billion ($900 million) bailout from the federal government, said today it plans to come out of the trading halt on the morning of 16 ...
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NewsAirAsia Group to retain all staff: chief executive
AirAsia Group’s chief executive Tony Fernandes has made a commitment to retain all staff, even with 96% of its fleet grounded. The group has “no revenue coming in”, Fernandes says in a statement published on AirAsia carriers’ websites, alongside ongoing financial commitments such as those to fuel suppliers and leasing ...
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NewsCanberra mulling Virgin Australia’s bailout request: deputy PM
The Australian government is still considering Virgin Australia’s request for a bailout, the deputy prime minister said, after the carrier cut schedules further. “We will continue to look at the situation, I will continue to talk to the key stakeholders, Qantas and Virgin,” Michael McCormack said in an interview with ...
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NewsEtihad doubles down on airframe, cabin maintenance of parked fleet
As it parks about 80% of its fleet amid the ongoing coronavirus outbreak, Etihad Airways has doubled down on aircraft and cabin maintenance work. In a video released on 10 April, the Abu Dhabi-based carrier states it has to date replaced more than 10,000 seat and backrest covers in ...
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NewsEasyJet defers order for 24 Airbus jets
EasyJet has agreed a deal with Airbus to push back an order for 24 aircraft due for delivery in 2020-2022.
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NewsEurope’s airports to lose more than a billion passengers in 2020
European airports lost more passengers in March than in the whole of 2009 when the world was in the midst of a global financial crisis, figures released today by ACI Europe reveal.
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NewsLessors’ Max orders at risk with Avolon cancellation
Avolon is removing 75 Boeing 737 Max jets from its orderbook, and while the world’s fourth largest lessor by fleet value says it “remains committed” to the type, these add to cancellations from before the coronavirus pandemic.
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NewsIATA reiterates need for ‘urgent’ liquidity assistance
Airlines around the world are in desperate need of government liquidity support which in many cases is taking too long to reach them, IATA has warned. Describing the coronavirus shutdown as “the biggest crisis we have ever had”, IATA director general Alexandre de Juniac stresses that although many governments have ...