All Strategy news – Page 156
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NewsVirgin Atlantic seeks bankruptcy protection in New York
UK carrier Virgin Atlantic Airways has filed for Chapter 15 bankruptcy protection in the USA, stating that it will run out of cash in September after months of attempts to cut costs, raise capital and seek UK government assistance.
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NewsRyanair and Wizz claw back more traffic in July
July traffic figures released today show Wizz Air operated more than 70% of its planned capacity, while Europe’s biggest low-cost operator Ryanair saw its first significant return of passengers since the global pandemic began.
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NewsAircastle grants rental deferrals to half its customers
Lessor Aircastle has granted rental deferrals to 40 lessees, representing half of its customer base, as it warns the impact of the Covid-19 pandemic has been “severe” and the industry may take years to recover. The amount deferred, as of 1 August, is approximately $99 million. “In the current environment, ...
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NewsNok Air CFO resigns after less than three weeks
Nok Air’s chief financial officer Nuanwan Bhuprasert has resigned effective today, less than three weeks after starting the job and four days after the airline filed for bankruptcy protection. The budget carrier’s chief executive Wutthiphum Jurangkool will resume the role of acting CFO, effective 4 August. Nok Air did not ...
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NewsMalaysian brokerage issues dire warning about AirAsia X
Malaysian brokerage firm CGS CIMB Securities has questioned the ability of AirAsia X to survive the collapse in international air travel. In a research note entitled “Low probability of survival,” CGS CIMB says that the long-haul, low-cost carrier’s first quarter results were just the “opening scene for the horror movie ...
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NewsExpressJet studying options amid warning of ‘wind down’
ExpressJet Airlines is evaluating “options for the future” following a severed relationship with United Airlines, though the regional carrier’s trade association says ExpressJet has warned of a “potential phased wind down”.
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NewsUnited plans to furlough at least one third of pilots
United Airlines plans to furlough at least one-third of its total pilot population as the carrier continues to grapple with the coronavirus pandemic’s long-term effects on the air transport industry.
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NewsGol sees Q3 as bridge to new normal
Brazilian airline Gol reported a second-quarter loss of R2 billion ($384,000) as the coronavirus crisis ravaged the air transport industry in the Latin American country.
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NewsAir Canada reports second-quarter loss of C$1.8bn
Air Canada posted a stunning C$1.8 billion ($1.5 billion) loss during the second quarter, as the coronavirus shut down almost all air travel in the country, and government-imposed restrictions kept passengers away.
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NewsIAG Cargo sees large revenue gain after responding to freight crisis
IAG’s cargo arm has seen a surge in revenue and yield after quickly responding to the changing market conditions brought on by the coronavirus pandemic.
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NewsDemand stays strong for ‘preighter’ passenger-freighter operations
The rapid introduction of passenger aircraft in the dedicated freighter role has been a key development during the coronavirus pandemic – one cargo experts see as continuing.
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NewsEurocontrol reports flattening in airline traffic recovery curve
Eurocontrol has observed a slowing in the growth rate of flight numbers in Europe since mid-July.
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NewsIAG names Ferran to succeed Vazquez as chairman
Javier Ferran has been named as the successor to IAG chairman Antonio Vazquez, following unanimous approval by the group’s board of directors. IAG says that Vazquez announced his intention to retire in January 2021 after reaching nine years in office last January, which is the maximum recommended in the UK ...
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NewsAirAsia X hopeful of late-year demand revival
AirAsia X is still confident that demand “will pick up towards the end of 2020”, though the group acknowledges that it has “no clear visibility on the timing of recovery”. In the meantime, the long-haul low-cost operator expects to remain in “hibernation mode”, maintaining “minimum connectivity” with “essential cargo and ...
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NewsNok Air files for business rehabilitation
Thai budget carrier Nok Air has filed for business rehabilitation with a view to restructuring the company, taking a similar path to flag carrier Thai Airways which filed for the same protection in May. The country’s Central Bankruptcy Court has accepted Nok Air’s rehabilitation petition for consideration and set 27 ...
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NewsUnited ends partnership with ExpressJet
United Airlines will consolidate all of its regional Embraer 145 flying to one partner, in order to streamline its network and lower costs as the coronavirus outbreak continues to take its toll on the air transport industry.
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NewsSkyWest posts $26m loss, ramps up Embraer fleet
SkyWest Airlines reported a $26 million loss in the coronavirus-marked second quarter as demand slumped and the airline significantly reduced its network.
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Airline BusinessAirlines left doubting if enough people can, or will, travel in 2020
The industry’s relief at being able to ramp up services as the second half of 2020 began is quickly being replaced by concern that the coronavirus is likely to weigh more heavily on demand than previously thought.
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NewsProlonged 737 Max grounding, pandemic punish SpiceJet earnings
India’s SpiceJet has incurred more than Rs6.7 billion ($89.6 million) in costs from the year-long global grounding of the Boeing 737 Max. Taken together with the impact from the coronavirus outbreak, which has dented passenger travel demand, SpiceJet saw losses widen for the year ended 31 March. The low-cost carrier ...
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NewsAllegiant loses $93 million in ‘most turbulent’ quarter
Allegiant Travel Company, parent of ultra-low-cost carrier Allegiant Air, reported a $93 million loss in the second quarter as the coronavirus pandemic ravaged the air transport industry during the period.