All Strategy news – Page 183
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NewsCebu Pacific expects up to $79 million hit from coronavirus
Cebu Pacific expects the coronavirus outbreak to impact its bottom line by up to Ps4 billion ($79 million). The low-cost carrier estimates that it will see “a Ps3-4 billion swing on profit” should the outbreak remain unabated over the next six months. It makes this estimate based on 2003’s Severe ...
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NewsAirAsia names acting chief amid Airbus probe
Bo Lingam has been appointed AirAsia Group’s acting chief executive, after founders Tony Fernandes and Kamarudin Meranun stepped down temporarily to facilitate an independent probe into Airbus bribery allegations. Lingam is currently the group’s president for airlines and will serve in the acting role for two months “or such other ...
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NewsAirAsia chiefs deny wrongdoing but step aside to aid graft probe
AirAsia Group chief Tony Fernandes and chairman Kamarudin Meranun have voluntarily stepped aside from their executive roles, for two months, to allow an independent probe into bribery allegations which emerged during an in-depth investigation at Airbus. UK court documents detailing an indictment against Airbus, for allegedly failing to prevent bribery, ...
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NewsRyanair doubles down on Boeing 737 Max
Ryanair plans to purchase further Boeing 737 Max aircraft once the aircraft returns to service, in addition to taking delivery of the 210 it has already has on order or under option.
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NewsRyanair slows long-term growth target as Max delayed until after summer
European low-cost giant Ryanair has pushed back its long-term growth target of reaching the 200 million annual passenger mark by up to two years after resigning itself to not receiving its first Boeing 737 Max aircraft until after this summer.
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NewsTaiwan’s FAT loses operating licence, faces censure
Taiwan’s Ministry of Transportation and Communications (MOTC) has revoked the operating licence of now-shuttered Far Eastern Air Transport (FAT). FAT went belly up on 13 December, owing to “long-term operating losses” and difficulty in raising sufficient funds. The carrier made the abrupt announcement it was ceasing operations a day earlier, ...
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NewsChinese carriers cut capacity over global travel restrictions
Airlines in China have begun cancelling flights to a growing list of international destinations, in light of travel restrictions imposed following a novel coronavirus outbreak. As the number of confirmed cases in China and around the world continues to climb, countries like Singapore, Vietnam, the Philippines and the ...
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NewsAmerican pilots file lawsuit for immediate halt to China flights
American Airlines pilots, represented by the Allied Pilots Association (APA), have filed a lawsuit seeking an immediate halt to the carrier’s flights to mainland China. This came shortly after the World Health Organization (WHO) declared the coronavirus outbreak in China an international public health emergency on 30 January. The union ...
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NewsSIA Group slashes capacity to China over coronavirus outbreak
Singapore Airlines and SilkAir have cut a number of flights to China for February, as the outbreak of the novel coronavirus continues its unabated spread. The capacity cuts will affect SIA flights to Beijing, Shanghai Pudong and Guangzhou. SilkAir, meanwhile, will be reducing the number of flights to all four ...
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NewsAmerican reaches tentative agreement with unions
American Airlines says it has reached a tentative collective bargaining agreement with unions representing 31,000 employees, after an acrimonious year-long standoff led to the delay or cancellation of more than a thousand flights. The Fort-Worth-based carrier did not release details of the agreement and says it is still subject to ...
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NewsANA and Singapore Airlines ink joint venture agreement
Star Alliance carriers All Nippon Airways and Singapore Airlines have signed a joint venture agreement to deepen their existing partnership. The agreement, subject to regulatory approval, would allow both carriers to widen their partnership beyond Singapore and Japan, to “key markets” such as Australia, India, Indonesia and Malaysia. ...
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NewsIndiGo shareholders reject move to change stock sale rules
Shareholders at the parent of India’s biggest carrier IndiGo today voted against a proposal to ease rules around the sale and acquisition of shares, the latest development in a power struggle between its two founding shareholders.
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NewsRyanair seals deal with Irish pilots but signals Max-driven cuts
Ryanair has reached a four-year labour agreement with the union representing its Ireland-based pilots, but has renewed its warning of potential job losses and base closures as a result of the latest Boeing 737 Max delay.
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NewsQantas Group inaugurates Toowoomba pilot training academy
The Qantas Group has opened its new flight training school at Toowoomba Wellcamp Airport, with the capacity of training 250 pilots annually. “Opening our new Pilot Academy is a historic moment for Qantas, for aviation in Australia and for the thousands of future pilots who will learn how to fly ...
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NewsANA’s third A380 emerges from Airbus paint shop with orange turtle livery
Japanese carrier ANA’s third and final “Flying Honu” Airbus A380 rolled out from the airframer’s paint shop in Hamburg on 24 January.
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Airline BusinessRyanair heads European traffic as airlines slow pace in 2019
Strong growth at its new Austrian unit Lauda helped low-cost carrier Ryanair reclaim its position as the biggest European airline group by passenger number in 2019, though overall growth among leading carriers in the region lagged previous years.
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NewsNokScoot gets $6.6 million loan from major shareholder
NokScoot has obtained a Bt200 million ($6.56 million) loan from a major shareholder of Nok Air in the form of a promissory note. This was issued by Hatairatn Jurangkool, who owns 24.4% of Nok and is the mother of Nok’s chief executive, Wutthiphoom Jurangkool. In a disclosure to the Stock ...
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NewsJetBlue cautious in Q1 amid Puerto Rico quakes
JetBlue Airways Corporation on 23 January reported a net profit of $161 million during the fourth quarter of 2019 that slightly beat analyst expectations despite being a 5% decline year-on-year versus $170 million in 2018. The New York-based carrier during the fourth quarter reported $2 billion in operating revenue, up ...
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Airline BusinessAmerican Airlines posts strong 2019, expects 737 Max in second half of 2020
American Airlines posted higher revenue and profit figures for the full year 2019 than a year earlier, as strong demand countered fallout from the Boeing 737 Max crisis.
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NewsUnited commits to EPS target with or without Max
United Airlines focused its 22 January fourth-quarter 2019 financial results call with analysts on the earnings metric itself, with president and soon-to-be chief executive Scott Kirby saying “that is the key metric” given the uncertainty surrounding the return to service of the Boeing 737 Max. “We want to focus our ...