All Strategy news – Page 179
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NewsNok Air optimised fleet and narrowed 2019 losses
Nok Air saw efficiency gains from implementing a turnaround programme last year and narrowed financial losses, but ended 2019 in a weaker cash position. The Thai low-cost carrier says it is expanding route and flight network, aircraft utilisation rate and “efficiency in business operation”, while reducing its fleet will allow ...
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NewsUS airlines could experience short-term hit from coronavirus
While Asian airlines have borne the brunt of the coronavirus crisis so far, US carriers are closely monitoring the situation, and will likely take a short-term loss as the US government sends mixed messages and bookings begin to decline.
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NewsJambo Jet boss named permanent chief executive of Kenya Airways
Kenya Airways has confirmed Allan Kilavuka, the head of its budget unit JamboJet, as its new chief executive and group managing director on a permanent basis.
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Airline BusinessHeathrow ruling suggests new legal front in airline sustainability battle
The UK appeal court’s ruling that plans for a third runway at London Heathrow airport are unlawful on climate grounds is in line with intensifying pressure on a commercial aviation industry that had been enjoying years on largely unconstrained growth.
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NewsAirAsia slips to full-year loss
AirAsia Group has reported a full-year net loss of MYR286 million ($67.9 million) for 2019, after a MYR1.7 billion net profit the previous year. The airline group says the negative result was due partly to “accounting treatment” associated with its move from owning to leasing aircraft, and partly to losses ...
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NewsAir New Zealand maintains profitability despite slowdown
Air New Zealand has maintained profitability even as it adapts to a lower growth environment, reporting a NZ$198 million ($124 million) EBIT for the six months ended 31 December 2019, down from NZ$217 million in the year-ago period. “Our capacity discipline on existing routes, stimulation of leisure traffic with the ...
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NewsJet fuel prices hit two-year lows
The price of jet kerosene is continuing to move sharply lower in line with weaker crude, amid mounting concerns about the impact of the coronavirus on global economic growth.
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NewsLufthansa puts in hiring freeze and unpaid leave offer to counter coronavirus hit
Lufthansa Group is implementing a hiring freeze and offering staff unpaid leave as part of cost-cutting measures amid the impact on air travel demand from the coronavirus outbreak. While the airline group says it is too early to estimate the earnings impact of the coronavirus outbreak, its network operators Lufthansa, ...
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NewsChina Eastern launches new carrier with C919s and ARJ21s
China Eastern Airlines has unveiled its new subsidiary, OTT Airlines, which will mainly operate Chinese-made aircraft, including Comac’s ARJ21 regional jet, and the C919 narrowbody. OTT, which is wholly-owned by China Eastern, will be based at Shanghai Hongqiao Airport, and will primarily serve the Yangtze River Delta region and other ...
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NewsThai AirAsia parent slips to loss in 2019
Thai AirAsia’s parent company posted an operating loss of Bt100 million ($3.14 million) for the whole of 2019, as costs outpaced revenues. This contrasts with a Bt660 million operating profit in 2018. Asia Aviation’s revenue for the year ended 31 December 2019 rose 3% to Bt41.6 billion. The company attributed ...
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NewsAir New Zealand debuts bunk bed concept for economy class
Air New Zealand has filed patent and trademark applications for full-length sleep pods in economy class, as it mulls installing them on its ultra long-haul routes. Unveiling the Economy Skynest, the carrier says it will decide whether or not to install the product after assessing the performance of its upcoming ...
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NewsUnited withdraws 2020 guidance ahead of its investor day
United Airlines has withdrawn the full-year 2020 guidance it disclosed on 21 January as part of its fourth-quarter 2019 earnings report because of unexpected business losses from the coronavirus outbreak in the Asia Pacific region. The Chicago-based airline had previously expected its full-year 2020 adjusted earnings per share to be ...
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NewsQatar strikes deal to restore American Airlines partnership
Middle East carrier Qatar Airways has struck a revived codeshare deal with its Oneworld partner American Airlines, two years after the US carrier ended their co-operation.
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NewsDelta increases stake in Korean Air parent company past 10%
Delta Air Lines has bumped up its stake in Korean Air’s controlling shareholder to 11%. A stock exchange disclosure by Hanjin KAL indicates that the US carrier owns 6.5 million of its shares as of 20 February, up from 5.5 million shares or 9.21% previously, through “acquisition of shares due ...
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NewsAtlas 2020 outlook hinges on coronavirus
As the end of 2019 approached, the air cargo sector was hopeful that easing trade tensions between the USA and China could allow a slight recovery for air freight demand between two of the world’s largest economies. Those hopes have been dashed as the coronavirus outbreak has brought the Chinese ...
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NewsTrans States Airlines to shutter operations as ExpressJet takes more United flying
United Express is consolidating its Embraer ERJ145 operations under ExpressJet as Trans States Airlines tells employees it is shutting down.
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Airline BusinessTourism key as Turkish carriers target growth return in 2020
A mixed picture in which tourism grew strongly but domestic traffic was sharply down lay behind the first year in a decade in which annual passenger numbers fell at Turkey’s two biggest carriers in 2019.
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NewsAsiana executives take voluntary pay cut to ride out crisis
Senior executives at South Korea’s Asiana Airlines have offered to take a pay cut to help the company through a rough patch.
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NewsAir New Zealand expects up to $47m hit from coronavirus
Air New Zealand is expecting a NZ$35-75 million ($22-47 million) hit to financial year 2020 earnings, as it weighs up the impact of the coronavirus outbreak against cheaper jet fuel. “The airline’s revenue outlook for the remainder of the year is expected to be adversely impacted as a result of ...
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NewsMoldovan start-up HiSky led by former chief of flag-carrier
Former Air Moldova chief Iulian Scorpan is heading up a private start-up budget carrier, branded HiSky, for the Central European republic. While all Moldovan carriers, with the exception of Air Moldova, FlyOne and Aerotranscargo, are blacklisted, the start-up will be formed through a partnership with a Romanian operating carrier, Cobrex ...