All Strategy news – Page 171
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NewsSouthwest and American announce government aid deal
Two US passenger carriers say they have reached deals with the government on the amount of emergency financial aid promised to the industry as part of the $2 trillion CARES Act, as airlines realign their networks to face the realities of the sharp drop-off in travel demand since the coronavirus pandemic began.
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NewsIndia extends flight suspensions till 3 May
India will suspend all scheduled passenger flights for nearly three more weeks after the country extended a coronavirus-related lockdown.
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NewsNorwegian share price plummets on debt conversion plan
Scandinavian budget carrier Norwegian saw its share price nosedive when markets opened on 14 April, following its 8 April proposal to convert debt to equity in order to qualify for state aid. Shortly after the Oslo stock exchange reopened following the long Easter weekend, Norwegian’s share price was at one ...
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NewsVirgin Australia enters trading halt amid financing talks
Virgin Australia has requested a halt in the trading of its shares while it discusses financing and restructuring options. The airline, which has requested a A$1.4 billion ($900 million) bailout from the federal government, said today it plans to come out of the trading halt on the morning of 16 ...
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NewsAirAsia Group to retain all staff: chief executive
AirAsia Group’s chief executive Tony Fernandes has made a commitment to retain all staff, even with 96% of its fleet grounded. The group has “no revenue coming in”, Fernandes says in a statement published on AirAsia carriers’ websites, alongside ongoing financial commitments such as those to fuel suppliers and leasing ...
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NewsCanberra mulling Virgin Australia’s bailout request: deputy PM
The Australian government is still considering Virgin Australia’s request for a bailout, the deputy prime minister said, after the carrier cut schedules further. “We will continue to look at the situation, I will continue to talk to the key stakeholders, Qantas and Virgin,” Michael McCormack said in an interview with ...
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NewsEtihad doubles down on airframe, cabin maintenance of parked fleet
As it parks about 80% of its fleet amid the ongoing coronavirus outbreak, Etihad Airways has doubled down on aircraft and cabin maintenance work. In a video released on 10 April, the Abu Dhabi-based carrier states it has to date replaced more than 10,000 seat and backrest covers in ...
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NewsEasyJet defers order for 24 Airbus jets
EasyJet has agreed a deal with Airbus to push back an order for 24 aircraft due for delivery in 2020-2022.
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NewsEurope’s airports to lose more than a billion passengers in 2020
European airports lost more passengers in March than in the whole of 2009 when the world was in the midst of a global financial crisis, figures released today by ACI Europe reveal.
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NewsLessors’ Max orders at risk with Avolon cancellation
Avolon is removing 75 Boeing 737 Max jets from its orderbook, and while the world’s fourth largest lessor by fleet value says it “remains committed” to the type, these add to cancellations from before the coronavirus pandemic.
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NewsIATA reiterates need for ‘urgent’ liquidity assistance
Airlines around the world are in desperate need of government liquidity support which in many cases is taking too long to reach them, IATA has warned. Describing the coronavirus shutdown as “the biggest crisis we have ever had”, IATA director general Alexandre de Juniac stresses that although many governments have ...
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NewsAir New Zealand to lay off 387 pilots: union
Air New Zealand is planning to make 387 pilots redundant amid the coronavirus crisis, their union said today. The New Zealand Air Line Pilots’ Association (NZALPA) said it met with the carrier’s chief executive Greg Foran and his executive team several times on 6 April to discuss cost-cutting measures. “NZALPA ...
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NewsBOC Aviation’s first-quarter collection rate falls to 94%
BOC Aviation reported 100% aircraft utilisation for the three months ended 31 March 2020, though lease payment collection rate for the period was 94%. Data from the company’s historical stock-exchange filings show that since 2008 – the first full-year the company operated as BOC Aviation after Bank of China acquired ...
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NewsEasyJet borrows from UK coronavirus fund as part of liquidity plan
Budget carrier EasyJet has taken steps to borrow funds from the UK government’s corporate financing facility, established to assist companies during the coronavirus crisis. EasyJet chief executive Johan Lundgren says the airline’s “priority” is to “safeguard short-term liquidity”. He says the company has been successful in issuing £600 million of ...
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NewsVirgin Australia closes New Zealand crew base
Virgin Australia has closed its New Zealand flight crew base, a move their union says affects around 600 jobs. The E tū union said in a 4 April statement that the carrier emailed staff the previous night telling them that the closure was effective immediately. Virgin has already suspended operations ...
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NewsAvolon customers seek payment relief
Aircraft lessor Avolon has disclosed that the vast majority of its customers are seeking rent deferrals or reductions amid “the most challenging period in the history of commercial aviation”. In its first-quarter update, the lessor states that it “has received requests from more than 80% of its current owned and ...
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NewsJetBlue and Delta apply for federal payroll grants
JetBlue Airways and Delta Air Lines have applied for federal payroll grants in time for the US Treasury Department to ensure quick approval, yet the chief executives of both carriers say they will need to raise additional capital.
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NewsComair drops Star Air acquisition as challenges deepen
South African carrier Comair has agreed to call off its planned acquisition of aircraft leasing specialist Star Air Cargo and Star Air Maintenance as it battles mounting challenges.
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Airline BusinessWhat is it going to take for passengers to start flying again?
Challenges around the lifting of travel bans, the economic hit and restoring passenger faith in the safety of air travel are likely to be key hurdles to overcome before airlines might return to normal business after the coronavirus grounding.
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NewsCathay Pacific cuts long-haul schedule further for April
Cathay Pacific has announced further cuts to its long-haul schedule for April, with 97% of planned passenger capacity now scrapped. The carrier had already announced on 20 March that it was reducing capacity by 96% for April and May. As part of what it terms a “bare skeleton” schedule, the ...