All Strategy news – Page 164
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NewsAirAsia evaluating proposals to raise capital
The AirAsia Group is evaluating proposals to strengthen its equity base and liquidity through a capital raising exercise, as it works to overcome challenges caused by the coronavirus pandemic.
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Airline BusinessMiddle East carriers aim to get back on track
Much of the attention on airlines in the Middle East during the coronavirus crisis has focused on the big three Gulf operators and the struggles of Israeli carrier El Al.
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Airline BusinessHow the airline industry has been hit by the crisis
After years of record traffic growth and unprecedented profitability, the airline industry is facing the sharpest and most sustained fall in air traffic demand as the coronavirus pandemic has brought international travel to a virtual standstill.
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Airline BusinessLatin carriers feel the pain as crisis deepens
That Latin America’s two biggest operators LATAM Airlines and Avianca have both been forced to file for bankruptcy protections shows the extent to which carriers in the region have quickly found themselves under pressure during the pandemic.
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NewsSwiss to cut fleet as crisis drags carrier to Q1 loss
Lufthansa subsidiary Swiss is planning to reduce its fleet, after incurring a Swfr84.1 million ($86.1 million) operating loss in the first quarter.
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Airline BusinessNorth American carriers hunker down through crisis
While hard hit North American carriers may have found some comfort from state support packages and the size of its home markets, they have taken action swift action to limit cash burn to protect their businesses while waiting for passenger demand to return
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NewsLufthansa steps up restructuring as it confirms big jump in Q1 losses
Lufthansa Group has confirmed its earlier guidance that it made an adjusted EBIT loss of €1.2 billion ($1.3 billion) in the first quarter and warns it still expects around 300 aircraft to be parked next year.
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NewsAir Canada looking to quit Transat deal: reports
French-language media in Canada report that legacy carrier Air Canada is looking to exit its planned takeover of Transat AT, the parent company of Air Transat, as Canada’s biggest airline attempts to manage through the coronavirus crisis while preserving its liquidity.
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NewsIATA figures show collapse of air-freight demand in April
Global air freight demand was down nearly 28% in April compared with a year earlier, according to IATA – the sharpest fall ever recorded.
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Airline BusinessCoronavirus pushes fragile African carriers closer to the edge
While no region has escaped the impact of the coronavirus grounding, arguably its most immediate damage has been felt among Africa’s already struggling carriers.
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Airline BusinessEuropean carriers aim to cut their way through the crisis
While the short-term focus among European carriers has been on finding ways to survive the crisis and resume services, airlines have been quick to signal sizeable cuts to their operations with few expecting traffic to return to previous peaks before 2023
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NewsBain Capital and Cyrus Capital on Virgin Australia shortlist
Bain Capital and Cyrus Capital Partners are on the final shortlist of potential buyers for Virgin Australia. “The next stage in this sale process begins today,” administrator Deloitte said on 2 June. Deloitte will facilitate engagement between the preferred bidders and business stakeholders in the coming weeks, ...
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NewsEmirates concludes that job cuts are required as coronavirus takes toll
Emirates plans to cut an unspecified number of jobs as the coronavirus pandemic takes its toll on the Gulf carrier. The Dubai-based airline said on 31 May that it has come to the conclusion that “we unfortunately have to say goodbye to a few of the wonderful people that worked ...
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NewsNorway to extend airline loan guarantee scheme
Norway’s government plans to extend its state loan guarantee scheme for airlines until the end of October saying the crisis is lasting longer than envisaged when the programme was intially launched.
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NewsANA Holdings undertakes $3.3 billion debt financing
All Nippon Airways’ parent company has decided to undertake a fresh round of debt financing from the Development Bank of Japan, amounting to Y350 billion ($3.3 billion). The agreement is subject to a 29 June borrowing deadline and the debt financing will be repaid over the long term, “determined by ...
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NewsChallenges ahead in Thai Airways business rehabilitation
The 60-year-old Thai Airways International, now in court-supervised business rehabilitation, carries the burden of legacy issues, a history of failed restructuring and transformations, and being ill-equipped to tackle industry challenges.
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NewsNorwegian clings to restructuring hopes as Q1 losses widen
Norwegian’s first-quarter losses have widened significantly to NKr3.28 billion ($331 million) and the company remains in “hibernation mode”, in the hope that its recent financial restructuring and state-aid lifeline will enable it to have a future.
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NewsEasyJet to axe up to 30% of jobs as it cuts fleet
EasyJet is to begin consultations on proposals to cut staff levels by up to 30% as it expects to reduce its fleet by 51 through a mix of deferrals and returning leased aircraft by the end of 2021. In a trading update released today the UK budget carrier says it ...
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NewsThai Airways appoints planners for business rehabilitation
Thai Airways International has appointed five people, including one of its former presidents, to jointly hold the position of plan preparer during its business rehabilitation process. The carrier’s chairman Chaiyapruk Didyasarin and acting president Chakkrit Parapuntakul have been appointed, along with three newly appointed board members: former president Piyasvasti Amranand, ...
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NewsLessor Avation pulls the plug on sale process
Avation is ending its formal sale process as the Covid-19 pandemic brings unprecedented disruption to the aviation industry that is still ongoing. The Singapore-based lessor says in a 27 May statement that over the past “several weeks”, Covid-19 has “continued to disrupt business activities, particularly air travel, on an unprecedented ...