All Strategy news – Page 172
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Airline BusinessSlowly but surely, China domestic capacity creeps back up
While airlines around the world hunker down amid the coronavirus crisis, the Chinese domestic market is telling a different story.
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NewsFebruary travel demand slump worst since 9/11: IATA
Collapsing domestic travel in Mainland China — the epicentre of the coronavirus outbreak — coupled with falling travel demand to and from the Asia-Pacific region, led to the sharpest drop in demand in almost two decades. Releasing its global passenger traffic data for February, IATA says RPKs for the ...
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NewsCanberra not keen to bail out Virgin Australia: report
Virgin Australia may not get the government support it is seeking, according to local media reports. Citing sources, the Australian Financial Review reported on 2 April that the federal government wants two strong airlines after the coronavirus crisis and would help a new carrier enter the market if Virgin Australia ...
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NewsIAG cancels planned dividend payment
IAG is withdrawing its proposal to pay a €0.17-per-share final dividend to investors, following the coronavirus shutdown. The group will instead propose, at its annual shareholders’ meeting, that all of its 2019 profit – save that already paid as an interim dividend – be added to voluntary reserves. IAG‘s board ...
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NewsFreight rates on the rise amid slump in passenger flights
Air freight rates are rising and cargo carriers ramping up their utilisation to fill the gap left by grounded bellyhold capacity on passenger jets. Normally, nearly half of global air cargo is carried in passenger jets’ bellies. Total cargo capacity, adjusted to include the Lunar New Year, fell 4.4% in ...
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NewsBA to furlough 30,000 staff: GMB union
British Airways will furlough more than 30,000 employees under the UK government’s job-retention scheme amid the coronavirus crisis, in a move the GMB union describes as “a relief”. “GMB and our sister union Unite have fought hard to secure members’ terms, conditions and job security. We believe the current deal, ...
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NewsBraathens Regional to halt all flights until 31 May
Swedish operator Braathens Regional Airlines is suspending all its services between 6 April and 31 May.
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Airline BusinessFormer airline chiefs on government role in airline survival and future shape of sector
Government interventions during the crisis are likely to play a role not just in airline abilities to withstand the coronavirus-prompted grounding but also in the shape of the consolidation to follow.
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NewsInterim chief Mzimela leaves struggling SA Express
Interim chief executive Siza Mzimela is leaving SA Express after 18 months in the role at the challenged South African regional carrier.
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NewsSriLankan suspends operations amid ’bleak times’
SriLankan Airlines is suspending all operations for nearly two weeks in what it describes as “bleak times” and the biggest challenge in its 40-year operating history. The Colombo-based carrier plans to halt all regularly scheduled passenger flights between 8 April and 21 April, with the exception of cargo and repatriation ...
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NewsAvion Express re-enters airfreight market with cargo-only flight offering
ACMI operator Avion Express is re-entering the airfreight market in response to increased demand for freighter aircraft operations as a result of the Coronavirus pandemic.
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NewsCitilink swings back to profitability in 2019
Indonesian low-cost carrier Citilink posted an operating profit of $67.8 million in 2019, marking a return to profitability for the Garuda Indonesia subsidiary. This is a significant turnaround for the airline, which recorded an operating loss of $54.6 million in 2018, Garuda’s 2019 annual report shows. Revenue for the year ...
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NewsAir China warns of 'short term' loss from outbreak
Air China has joined a growing list of airlines in warning of an operating loss “in the short term”, as the coronavirus outbreak continues to wreak havoc. Discussing the outlook for 2020 in its full-year results, the Air China group noted the impact that the outbreak — which originated ...
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NewsAir China 2019 profit inches up 2.1%
Lower expenses, coupled with more passengers carried, helped push Air China’s 2019 operating profit slightly higher. It posted a full-year profit of CNY14.6 billion ($2.06 billion) for 2019, an increase of 2.1% compared to the previous year. Group revenue for the year fell marginally — at about 0.4% ...
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NewsWalter Cho re-elected as Hanjin KAL chairman
Walter Cho was re-elected as the chairman of Hanjin KAL at an annual general meeting held on 27 March. Hanjin KAL, the parent group of Korean Air, is controlled by the Cho family. Walter Cho succeeded his father, the late Cho Yang-ho, as head of Hanjin KAL in 2003. He ...
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Airline BusinessAirline traffic unlikely to return to pre-crisis levels before start of 2021
Airlines are unlikely to see a return to pre-crisis traffic levels before the start of 2021 at the earliest IATA expects - and even that projection assumes the coronavirus issues are largely tackled over the next three months.
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NewsTicket refund burden to compound airline Q2 losses: IATA
A requirement to refund an estimated $35 billion in airline tickets during the second quarter will deepen the impact on their cash reserves on top of a projected industry loss of $39 billion for the quarter.
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NewsIcelandair to absorb regional Air Iceland Connect operation
Icelandair Group will fold the activities of Air Iceland Connect into its mainline operation and eliminate the position of the regional arm’s managing director.
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Airline BusinessHow consolidation has changed the shape of the European airline sector
Coronavirus has put development of the European airline industry on hold with the grounding of the bulk of fleets, while also raising questions over the shape of the industry that will re-emerge.
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NewsVirgin Australia seeks $865m financial support from government
Virgin Australia is seeking A$1.4 billion ($865 million) in financial support from the Australian government to battle the downturn caused by the coronavirus crisis. “It is a preliminary proposal and remains subject to approval by the Virgin Australia Holdings Board and the Australian government and may or may not include ...