All Strategy news – Page 179
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NewsIATA seeks freezing of slot rules to aid coronavirus capacity cuts
IATA is contacting aviation regulators to request the suspension of rules governing airport slots for the remainder of the winter season and for the upcoming summer timetable as airline pull back capacity in the light of the spread of the coronavirus.
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NewsKenya Airways taps state loan to cover Embraer engines overhaul
SkyTeam carrier Kenya Airways has received a KSh5 billion ($49 million) loan from the government to cover an engine overhaul programme for its fleet of Embraer E190 regional jets.
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NewsLufthansa to cut short-haul operations by up to a quarter to counter coronavirus
Lufthansa Group is to cut its short and medium-haul operations by up to 25% in the coming weeks as it moves to counteract the air travel impact of the coronavirus.
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NewsLion Air delaying decision on IPO
Indonesia’s Lion Air Group has put on hold plans for an initial public offering, a source tells Cirium. The company was expected to make the call at the end of February, but the person says some investors have been reluctant to hold face-to-face meetings amid the coronavirus outbreak. Moreover, it ...
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NewsBangkok Airways’ 2019 profit up despite dip in passenger revenue
Bangkok Airways boosted operating profit 18% to Bt1.68 billion ($53.2 million) last year, despite a decline in revenue from the passenger segment. Revenue rose 2.4% to Bt28.6 billion. However, passenger revenue fell 6.9% to nearly Bt18.9 billion, which the carrier attributed to a strengthening of the Thai baht against major ...
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NewsEuropean regulators open new state aid probe into Alitalia loan
European Commission competition regulators have opened an in-depth state aid investigation into a €400 million ($438 mlllion) loan granted by the Italian state to Alitalia.
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Airline BusinessEuropean carriers hunker down for tough times from coronavirus outbreak
Any doubts as to whether the impact of the coronavirus outbreak would spread beyond Asia to European airlines has been answered by a slew of cost-savings measures, capacity cuts and warnings of potential earnings hits in the past few days.
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NewsAirAsia X to renegotiate aircraft leases, defer A330neos
AirAsia X will ask lessors for lease reductions across its entire fleet as the coronavirus crisis puts a strain on its business. The Malaysian low-cost long-haul carrier has targeted a 30% lease reduction and plans to renegotiate maintenance reserves. It is also seeking the early return of five leased aircraft ...
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NewsStrong IAG full-year profits dip but coronavirus clouds 2020 outlook
British Airways and Iberia parent IAG’s operating profit before exceptional items slipped 5.7% for the full year in 2019 to €3.29 billion as its fuel costs rose.
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NewsJakarta mulls debt restructuring for Garuda
Indonesia is looking to restructuring Garuda Indonesia’s debts as the maturity of one of its bonds, with a face value of $500 million, draws close. “Garuda at this point of time is under extraordinary pressure as [some of its] debt are maturing. And we will be sure to restructure [the ...
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NewsAirAsia X cuts 2019 loss despite revenue decline
AirAsia X narrowed its operating loss to MYR90.1 million ($21.3 million), despite a decline in passenger numbers which affected its total revenue. The loss posted in 2019 is an improvement to the MYR204 million loss made in 2018. Revenue for the year ended 31 December 2019 declined 4% to MYR4.4 ...
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NewsNok Air optimised fleet and narrowed 2019 losses
Nok Air saw efficiency gains from implementing a turnaround programme last year and narrowed financial losses, but ended 2019 in a weaker cash position. The Thai low-cost carrier says it is expanding route and flight network, aircraft utilisation rate and “efficiency in business operation”, while reducing its fleet will allow ...
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NewsUS airlines could experience short-term hit from coronavirus
While Asian airlines have borne the brunt of the coronavirus crisis so far, US carriers are closely monitoring the situation, and will likely take a short-term loss as the US government sends mixed messages and bookings begin to decline.
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NewsJambo Jet boss named permanent chief executive of Kenya Airways
Kenya Airways has confirmed Allan Kilavuka, the head of its budget unit JamboJet, as its new chief executive and group managing director on a permanent basis.
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Airline BusinessHeathrow ruling suggests new legal front in airline sustainability battle
The UK appeal court’s ruling that plans for a third runway at London Heathrow airport are unlawful on climate grounds is in line with intensifying pressure on a commercial aviation industry that had been enjoying years on largely unconstrained growth.
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NewsAirAsia slips to full-year loss
AirAsia Group has reported a full-year net loss of MYR286 million ($67.9 million) for 2019, after a MYR1.7 billion net profit the previous year. The airline group says the negative result was due partly to “accounting treatment” associated with its move from owning to leasing aircraft, and partly to losses ...
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NewsAir New Zealand maintains profitability despite slowdown
Air New Zealand has maintained profitability even as it adapts to a lower growth environment, reporting a NZ$198 million ($124 million) EBIT for the six months ended 31 December 2019, down from NZ$217 million in the year-ago period. “Our capacity discipline on existing routes, stimulation of leisure traffic with the ...
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NewsJet fuel prices hit two-year lows
The price of jet kerosene is continuing to move sharply lower in line with weaker crude, amid mounting concerns about the impact of the coronavirus on global economic growth.
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NewsLufthansa puts in hiring freeze and unpaid leave offer to counter coronavirus hit
Lufthansa Group is implementing a hiring freeze and offering staff unpaid leave as part of cost-cutting measures amid the impact on air travel demand from the coronavirus outbreak. While the airline group says it is too early to estimate the earnings impact of the coronavirus outbreak, its network operators Lufthansa, ...
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NewsChina Eastern launches new carrier with C919s and ARJ21s
China Eastern Airlines has unveiled its new subsidiary, OTT Airlines, which will mainly operate Chinese-made aircraft, including Comac’s ARJ21 regional jet, and the C919 narrowbody. OTT, which is wholly-owned by China Eastern, will be based at Shanghai Hongqiao Airport, and will primarily serve the Yangtze River Delta region and other ...