All Strategy news – Page 163
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NewsLithuania plans new flag carrier
Lithuania’s government intends to establish a new national airline later this year or early in 2021.
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NewsJetstar Pacific rebranding to stoke talk of Qantas stake sale
Vietnam low-cost carrier Jetstar Pacific will revert to its former name, Pacific Airlines, as greater synergies with 70% owner Vietnam Airlines are sought. The proposed rebranding follows an agreement between Vietnam Airlines and Qantas Group, which owns a minority 30% stake in Jetstar Pacific. In addition, Jetstar Pacific will switch ...
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NewsChina Eastern launches new Hainan-based carrier
China Eastern Airlines has inked a cooperation framework agreement with four partners — including Shanghai-based carrier Juneyao Airlines — to establish a new carrier in Hainan island. The launch of Sanya International Airlines follows recent announcements from the Chinese government to turn the island into a free trade zone and ...
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NewsState to consider integrating some Air Italy assets into new Alitalia
Italy’s transport and infrastructure minister Paola de Micheli has indicated the state is considering the possible of integration some Air Italy assets into its renationalised Alitalia. Sardinia-based AIr Italy collapsed in February after shareholders could not agree on further investment to keep the struggling airline operational, though 49% owner Qatar ...
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NewsEuropean price war threatens deepened cash-flow crisis
Airlines making their first tentative steps towards restart of operations are keen to convince the public that air travel is back. But making the case will not be easy – or cheap. Early indications are that many passengers are nervous about boarding an aircraft, especially older travellers. And given that ...
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NewsTransat-Air Canada merger pushed to fourth quarter
Transat AT, the parent company of Canadian holiday specialist Air Transat, says its merger with legacy carrier Air Canada is still on track and now due to close sometime in the fourth quarter of 2020.
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NewsZeitfracht sells stake in Romania’s Blue Air
German logistics firm Zeitfracht Group has divested its stake in Romanian low-cost operator Blue Air.
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NewsLufthansa to cut 22,000 jobs
Lufthansa Group has outlined plans to cut the equivalent of 22,000 full-time jobs, half of which will be in Germany, and operate 100 fewer aircraft as it recovers from the effects of the Covid-19 crisis.
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NewsUK government issues flight-resumption guidance
UK government officials have published new guidelines aimed at enabling the country’s air transport sector to “bounce back” safely when Covid-19 travel restrictions are eased.
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NewsAlliance Aviation plans $85m equity raise to acquire aircraft
Australia’s Alliance Aviation is looking to raise around A$122 million ($85 million) in equity capital, for acquiring aircraft to take advantage of growth opportunities. This comprises $A91.9 million via a fully underwritten institutional share placement and a A$30 million target from a non-underwritten share purchase plan extended to existing shareholders. ...
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NewsAir New Zealand addresses media report on capital raising
Air New Zealand says it continues to assess funding options available to it, in response to a recent media report about a potential capital raising. The airline is listed on both New Zealand’s Exchange and the Australian Securities Exchange. It said in an 11 June stock-exchange disclosure: “Air New Zealand ...
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NewsAmerican Airlines sees encouraging demand trend
American Airlines says it has transported an average of 127,000 passengers daily in June so far, up from a low of 32,000 passengers in April, as travelers once again take to the sky while the global coronavirus crisis enters its fourth month.
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NewsEuropean Commission approves €1.2 billion bailout for TAP
Portugal has won approval from the European Commission to provide a €1.2 billion ($1.4 billion) state rescue loan to its national carrier TAP to address “immediate liquidity needs”.
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NewsHyundai Development renegotiating Asiana acquisition: reports
Hyundai Development (HDC) is looking to renegotiate its acquisition of a 31% stake in Asiana Airlines from Kumho Industrial. This has been sparked by an increase in Asiana’s debt burden and HDC appealed to the airline’s state-funded creditors to offer it support, Reuters reported on 9 June. HDC has notified ...
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NewsAlbrecht and Browne proposed for Norwegian board
Experienced airline executives Jaan Albrecht and Chris Browne, together with Aercap’s chief risk officer Anton Joiner are among nominations to join the board at Norwegian.
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News‘Nothing off the table’ in Cathay business review: Chairman
Cathay Pacific chairman Patrick Healy has warned that “tough decisions will need to be made” by the fourth quarter of the year as part of “right-sizing” efforts.
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NewsCathay Pacific set to receive big government bailout
The Hong Kong government has stepped in to provide beleaguered Cathay Pacific with a financial lifeline, as part of the airline’s group HK$39 billion ($5 billion) recapitalisation plan. Cathay, which has been hard hit by a collapse in travel demand from the coronavirus outbreak, states that the recapitalisation plan ...
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NewsThai proposes oil and gas executive as additional rehab planner
Thai Airways International has proposed appointing an additional person with state-owned enterprise credentials to join the five other people, as well as a professional services firm, tasked with drafting a turnaround plan for its beleagured business. The Thai flag carrier, which had its application for business rehabilitation accepted by a ...
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NewsTUIfly plans job and fleet cuts: union
German leisure carrier TUIfly intends to cut around 700 jobs and approximately halve its fleet in response to the coronavirus crisis, according to pilot union Vereinigung Cockpit.
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NewsIAG and Ryanair threaten legal challenge to UK’s quarantine plan
Willie Walsh, the chief executive of British Airways parent IAG, has disclosed that the group is considering legal action over the UK government’s mandatory two-week quarantine for travellers arriving in the country from 8 June.