All Strategy news – Page 154
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News
Lufthansa strikes deal with pilots to avert near-term redundancies
Lufthansa has reached a deal with the Vereinigung Cockpit union covering pilots at its German operations over cost-cutting measures for the rest of the year.
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News
Frontier bets on cost-sensitive travellers’ return to skies first
Like the rest of the airline industry, Frontier Airlines is cutting costs and seeking federal aid as the pandemic has obliterated passenger demand, while also defending its network position as it plans for an eventual travel recovery.
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News
Breeze withdraws application for Compass’ certificate
Breeze Airways, the start-up passenger carrier headed by serial aviation entrepreneur David Neeleman, has abandoned its application to acquire the certificate of now-defunct Compass Airlines.
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News
Commission clears SATA pandemic state aid but probes earlier capital increase
European regulator have backed a Portuguese €133 million support package to help Azores carrier SATA Air Acores through the coronavirus crisis, but is to probe an earlier funding.
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News
German fund WSF approves local support for Lufthansa subsidiaries
German federal fund WSF has approved local financial aid for Lufthansa subsidiaries Austrian Airlines, Brussels Airlines and Swiss under the group’s €9 billion ($10.6 billion) support package from the government in Berlin. Austrian chief executive Alexis von Hoensbruch describes the approval as a “last hurdle” and expresses gratitude for the ...
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Wizz cements Gatwick ambitions by opening new base
Expanding low-cost carrier Wizz Air has further outlined its intent to grow at London Gatwick airport after announcing plans for a single-aircraft base and the launch of four new routes from this October.
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Stobart Group warns of job cuts after EasyJet closes two London bases
Stobart Group has signalled that job cuts could be imminent at Stansted and Southend, as a result of EasyJet’s decision to close its bases at the two London airports.
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News
Ryanair cuts 20% of Sept-Oct capacity as restrictions hit demand
Low-cost carrier Ryanair has reduced its planned capacity for September and October by 20% as demand for intra-European travel weakens amid government-imposed restrictions.
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Airline Business
Korean doubles down on cargo amid challenging passenger market
Korean Air’s second quarter operating profit on the back of strong cargo performance offered a dash of positive news to a sector reeling from the coronavirus pandemic.
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News
Khona returns to head Indian carrier GoAir as Dube leaves
Former Jet Airways chief executive Vinay Dube is to leave Indian low-cost carrier GoAir after just six months, to be replaced by the carrier’s former boss Kaushik Khona.
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News
NokScoot woes drag Nok Air deeper into red
Thai low-cost carrier Nok Air saw a staggering increase in its first-quarter losses, led mostly by trouble at its now-shuttered long-haul subsidiary NokScoot. Nok, which recently took a similar path as compatriot Thai Airways to file for business rehabilitation, reported an operating loss of Bt4.4 billion ($141 million) for the ...
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News
Troubled Thai sees operating loss more than double
Thai Airways International, which recently entered court-supervised business rehabilitation amid longstanding financial woes, plunged deeper into the red in its half-yearly financial results. For the six months ended 30 June, the Star Alliance carrier reported an operating loss of Bt18.3 billion ($590 million), widening the Bt7.9 billion operating loss it ...
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News
Neste delivers sustainable aviation fuel in San Francisco
Finnish renewable fuels producer Neste has begun supplying three of the United States’ largest airlines with sustainable aviation fuels (SAF) for flights from San Francisco International airport.
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News
Azul banks on flexibility to weather coronavirus
Brazil’s Azul is banking on its fleet flexibility to match increasing demand for travel in the second half of the year after the coronavirus pandemic took a toll on the carrier in the second quarter.
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News
IATA downgrades forecast for European passenger numbers in 2020
IATA is warning that the impact of the coronavirus on Europe’s aviation industry will be even greater than it estimated in June.
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News
Slow recovery prompts London City to put terminal extension on hold
Plans for a terminal extension at London City airport are being reviewed after the operator decided to pause its development plans at year-end as it adjusts to the post-pandemic travel demand.
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News
TUI revenues all but wiped out for June quarter
European travel operator TUI Group incurred an operating loss of €1.1 billion ($1.3 billion) for the three months ending 30 June 2020 as revenues were down more than 98% on the same quarter last year.
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News
Cebu Pacific’s losses worsen in second quarter
Cebu Pacific’s financial losses deepened in the second quarter of this year as the impact of the Covid-19 pandemic began to be felt more severely. The Philippine airline and its subsidiaries made an operating loss of Ps6.29 billion ($129 million) in the three months ended 30 June, it reports. This ...
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News
Taiwanese carriers bounce back to profitability despite global downturn
China Airlines and EVA Air reported operating profits for their latest quarterly financial results, placing them among the few airlines to turn a profit during a pandemic-induced economic downturn. For the three months ended 30 June, both carriers made a strong comeback from a loss-making previous quarter — despite ...
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News
Cathay not cancelling 777-9 orders, as it warns of bleak second half
Cathay Pacific has stressed that it is in discussions with Boeing about deferring — not cancelling — its orders for the 777-9 widebody. At a briefing after it disclosed record first half losses, Cathay chief operations and service delivery officer Greg Hughes says it is a “deferral of all 21 ...