All Strategy news – Page 142
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News
Air Canada reports Q3 loss, defers aircraft deliveries
Air Canada reported another quarterly loss as it continues to shrink its fleet and defer aircraft deliveries amid a slow recovery hindered by ongoing strict travel restrictions in the country.
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News
Aviation will need 27,000 new pilots in 2021 as shortage continues despite downturn: CAE
Despite an industry slump that has seen mass pilot layoffs, the global civil aviation industry will still require an estimated 27,000 new pilots by the end of 2021, or 264,000 over the coming decade.
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News
Minicucci to succeed Tilden as Alaska chief executive next year
Alaska Air Group chief executive Brad Tilden is to step down from the role on 31 March 2021 to be succeeded by Alaska Airlines’ president and long-time company veteran Ben Minicucci.
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News
South Africa's Comair to restart with 15 aircraft on 1 December
South African carrier Comair will initially operate 15 aircraft across its two airline brands when it restarts flights from 1 December.
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Airline Business
Calm before the storm for airline failures
The relatively small number of airline failures so far is not indicative of the health of the sector.
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News
Norwegian warns of ‘uncertain future’ after government rejects support request
Norwegian is facing “a very uncertain future” after Norway rejected requests from the airline for further financial support. Oslo notes that in respone to the coronavirus crisis the state’s extraordinary contribution to aviation in Norway so far in 2020 amounts to NKr13 billion ($1.4 billion). Source: Norwegian ...
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News
Garuda sees quarterly losses narrow on revenue uptick
Garuda Indonesia trimmed its quarterly losses — led by a modest uptick in revenue — as it saw some degree of domestic recovery amid the coronavirus crisis. Releasing its results for the quarter ended 30 September, the Indonesian flag carrier posted an operating loss of $346 million, reversing the $171 ...
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News
Canada considers financial aid for aviation industry
The government of Canada has said it is considering financial aid for that country’s aerospace industry, as the coronavirus crisis drags on.
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News
SIA converts two 777-300ERs into temporary freighters
Singapore Airlines has modified two Boeing 777-300ERs to carry cargo in the passenger cabins, tapping into freight as an alternative revenue stream as it copes with depressed passenger demand from the coronavirus crisis. The carrier states that the first of the two converted aircraft took off on 5 November, ...
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News
Southwest plans to furlough 42 workers after cost-cutting talks break down
Southwest Airlines has warned a group of employees that their jobs are in danger after talks with the workers’ union about cost-cutting measures across the company broke down.
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News
Lufthansa prepares ground for possible part-sale of MRO unit
Lufthansa Group is making preparations for responding to enquiries from investors interested in taking a stake in its MRO division.
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News
KLM gets green light for €3.4 billion state loan package
KLM has received final approval for its “crucial” €3.4 billion ($4 billion) loan package from the Dutch government. The airline states in a 6 November stock-exchange notice that following agreements with eight trade unions, it has now “satisfied a key requirement” for accessing the aid, “ensuring final approval” of the ...
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News
Finnair defers delivery of three remaining Airbus A350s
Finnair has reached an agreement with Airbus to defer delivery of its three outstanding A350-900s by around two years. The Oneworld carrier says the three A350-900s were originally scheduled for delivery from the second quarter of next year through to the second quarter of 2022. Finnair says the new delivery ...
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News
SIA seals Airbus deferrals, Boeing negotiations reach ‘advanced stage’
Singapore Airlines Group has confirmed that its outstanding Airbus aircraft on order have been deferred and that it is close to concluding similar talks with Boeing. In today disclosing record half year losses amid the coronavirus crisis, SIA Group states that it has “concluded negotiations with Airbus on a revised ...
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News
Steep impairment costs drag SIA to record S$3.5 billion net loss for half year
Singapore Airlines Group took on a hefty impairment charge of S$1.33 billion ($987 million) from the early retirement of 26 older aircraft — including seven Airbus A380s — which led to a record net loss in its half-yearly earnings. The group says that the 26 aircraft were “deemed surplus to ...
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News
JAL to raise Y168 billion in foreign and domestic share placements
Japan Airlines is looking to raise nearly Y168 billion ($1.6 billion) in share placements, part of which will go toward fleet development, as well as to its newly-formed low-cost unit Zipair Tokyo. The Oneworld carrier will issue more than 90 million shares, with nearly two-thirds to be offered in domestic ...
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News
EasyJet further cuts winter capacity and sells more aircraft
EasyJet will now operate no more than 20% of its planned capacity in the last quarter of the calendar year and has sealed sale-and-leaseback deals covering a further 11 aircraft as it continues efforts to counter the crisis.
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News
Norwegian debt-equity swap follows 90% fall in October traffic
Scandinavian low-cost carrier Norwegian has converted another €1.7 million ($2 million) of debt into equity after perpetual bondholders agreed to swap loans for shares. The bonds are being converted into nearly 4.6 million new, freely tradeable shares in the company, states Norwegian in a 5 November notice to the Oslo ...
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News
Lufthansa to scale winter capacity back after further losses in third quarter
Lufthansa Group will cut capacity to no more than a quarter of previous-year levels for the rest of the 2020 after disclosing a third-quarter net loss of almost €2 billion ($2.3 billion).
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News
Thai puts 34 aircraft on sale, including entire 747 fleet
Embattled Thai Airways has put up its entire Boeing 747 and its 777-200/300 fleet up for sale, as it aims to raise cash amid a long-drawn business rehabilitation process. The Star Alliance carrier disclosed on its aircraft trading website that 34 aircraft from its fleet will be put up for ...