All Strategy news – Page 146
-
Airline BusinessWill there be an international air travel resurgence in 2021?
When this crisis reaches the 12-month mark around February/March 2021, are there any reasons to believe that things will look vastly better than they do today?
-
NewsAir Canada chief Rovinescu to retire in early 2021
Long-standing Air Canada chief executive Calin Rovinescu is to retire in February and will be replaced by his deputy and chief financial officer Michael Rousseau.
-
NewsGaruda Indonesia details $580 million government funding
Garuda Indonesia has disclosed details of Rp8.5 trillion ($580 million) in government funding approved by parliament in July. This will take the form of a seven-year unsecured bond that will be converted to new shares at maturity. Source: Airbus Garuda Indonesia says government funding is necessary for ...
-
NewsUnited’s recovery plan built around late 2021 arrival of vaccine
United Airlines says it will have enough liquidity to not just survive the “difficult” 12-15 months ahead but to be the first among its network peers to return to positive cash flow when an effective Covid-19 vaccine becomes widely available.
-
NewsFirefly reverts to jet operations amid broad restructuring
Malaysian regional carrier Firefly – most recently the subject of speculation that it might become the country’s flag carrier – will commence jet operations from next year, reverting to an earlier plan which was eventually shelved. Announcing the move, parent company Malaysia Airlines says the carrier will add up ...
-
NewsRyanair cuts winter capacity to 40% of 2019 level
The Irish operator blames “increased flight restrictions” imposed by European governments, which caused forward bookings to “weaken slightly” in October and “materially” in November and December.
-
Airline BusinessAsia-Pacific ‘travel bubbles’ fail to inflate
Despite government talk about “travel bubbles,” “green lanes” and the like, the Asia-Pacific’s biggest international air travel markets remain a long way from anything approaching normalcy. While domestic travel is picking up strongly in markets such as China and Vietnam, international travel still remains largely grounded. Three major country pairings ...
-
NewsUnited Airlines reports $1.8bn Q3 loss as revenue falls 78%
United Airlines reported a $1.8 billion loss for the third quarter as it restructured its operations to reflect lower demand following the near-collapse of the passenger aviation industry earlier this year.
-
NewsDelta posts $5.4bn Q3 loss, sees bright spots
Delta Air lines reported a third quarter loss of $5.4 billion as the airline begins to regroup following a catastrophic summer brought on by the coronavirus global pandemic.
-
NewsPorter pushes back restart to December
Canada’s Porter Airlines has pushed back its restart date for the sixth time as ongoing travel restrictions in Canada hamper the industry’s overall recovery in that country.
-
NewsBreeze signs sale-and-leaseback deal covering five A220s
Planned US start-up Breeze Airways has signed a sale-and-leaseback agreement with lessor Voyager Aviation for five Airbus A220-300s.
-
NewsCapacity ‘will go elsewhere’ if travel restrictions remain: Ryanair chief
The chief executive of Ryanair’s mainline operation has warned the Irish government that the carrier is able to place its aircraft elsewhere in Europe, as he lamented the country’s current restrictions on international travel. Noting that Ireland does not have a state-owned flag carrier, Eddie Wilson states on Ryanair’s new ...
-
NewsFormer Wizz deputy chief to lead Canadian budget carrier Flair
Canadian low-cost carrier Flair Airlines has named former Wizz Air deputy chief executive Stephen Jones to lead the company. He will replace Flair’s outgoing president and chief executive Jim Scott, who will remain a shareholder of the airline. Source: Flair Airlines Jones served as deputy chief executive at ...
-
NewsFinnair develops ‘financial bazooka’ to survive crisis
Finnair has enough cash to survive until late 2021 with little or no flying, having introduced a raft of financial measures to ensure it can survive the coronavirus crisis
-
NewsChina Southern prices CNY16 billion convertible bond
China Southern Airlines has announced pricing of an upcoming convertible bond issue that is set to raise CNY16 billion ($2.4 billion) for the carrier. The bonds, convertible to mainland China-listed A-shares, will bear 0.2% interest in the first year, 0.4% in the second year, 0.6% in the third year, 0.8% ...
-
NewsChina Eastern parent gets CNY31 billion cash injection
China Eastern Airlines’ parent company, China Eastern Group, has received a CNY31 billion ($4.6 billion) capital boost from four state-owned enterprises. The four companies involved in the capital increase are China Life Investment Holdings, which will inject CNY11 billion; Shanghai Jiushi Group with CNY10 billion; as well as China Guoxin ...
-
NewsSubtle shifts in travel may drive long recovery: trade group
As air travel struggles to return to pre-coronavirus levels, the industry is adopting new patterns of operating that might become permanent during a prolonged recovery, the airline trade group Airlines for America (A4A) says.
-
NewsDelta eyes potential Covid boost to regional flying
Will the coronavirus pandemic cause a long-term bump in air travel from small- and medium-size airports?
-
NewsSpirit CEO predicts quicker recovery than larger competitors
The chief executive of Spirit Airlines suspects his carrier will recover from the coronavirus downturn faster than major US carriers, though the pace of Spirit’s long-term fleet-growth plan remains uncertain.
-
Airline BusinessCruz leaves British Airways with unfinished business
Ultimately it perhaps is not that surprising that the stepping down of IAG’s long-term group chief executive Willie Walsh should be followed by the departure of British Airways chief executive Alex Cruz. Walsh stepped down as leader of BA parent IAG in September, after delaying his initial departure to help ...