Asia Pacific – Page 196
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NewsAirline passenger traffic saw sharpest decline in history during 2020
The coronavirus-ravaged airline industry experienced its sharpest-ever decline in passenger demand during 2020, as global traffic fell 65.9% from 2019 levels, according to full-year data released by IATA today.
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NewsAir cargo demand decline in 2020 ‘worst since records began’
The air cargo sector – touted as the airline industry’s bright spot during the coronavirus crisis – saw its largest year-on-year fall in demand since IATA records began during 2020, although the final quarter brought signs of the gap closing.
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NewsIATA outlines scenario where Covid variants pummel 2021 traffic
The global airline industry might only see traffic growth of around 13% from 2020 levels this year amid the impact of new variants of Covid-19, according to a potential scenarios presented by IATA.
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Airline BusinessHNA Group’s years of debt-fuelled acquisitions end in shambles
It may have started life as an aviation group, but by the time creditors showed up with bankruptcy filings, China’s HNA Group was a massive conglomerate with broad interests; from property to logistics; from aviation to financial services, the company had a finger in every pie.
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In depthKiev blocks Chinese bid for engine manufacturer Motor Sich
Ukrainian president Volodymr Zelensky appears to have shut down China-backed firm Skyrizon’s long-running effort to acquire engine maker Motor Sich.
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NewsPAL to cut workforce by one-third from mid-March
Philippine Airlines (PAL) will axe about 2,300 staff across its business, starting mid-March, a move that has been looming since October.
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NewsLion reaches agreements with (some of) its lessors
Several lessors to Lion Group airlines have agreed to restructure their leases after months of bilateral negotiations, Cirium understands.
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NewsQantas could launch Project Sunrise flights in 2024
Qantas could introduce ultra-long-haul flights under its delayed Project Sunrise programme as soon as 2024, according to the carrier’s chief executive, Alan Joyce.
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NewsA380 can return and generate cash: Qantas chief
Qantas is likely to fly its Airbus A380s again, according to the Australian carrier’s chief executive Alan Joyce, particularly on routes where tight scheduling is a factor.
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NewsMyanmar’s Yangon International airport closed after military coup
Myanmar has shut its primary gateway Yangon International airport, after the military seized power on 1 February.
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NewsSlow vaccination campaigns bad news for airlines: AAPA chief
The lethargic rollout of coronavirus vaccines will delay any recovery for the airline sector, according to Association of Asia Pacific Airlines director general Subhas Menon.
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NewsAero India goes ahead in defiance of Covid-19
The Aero India show in Bengaluru will be the first major international air show in nearly 12 months, but attendees will have ample reminders of the coronavirus pandemic.
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AnalysisLessors take stock as HNA creditors seek its bankruptcy
News that HNA Group creditors will seek to put the conglomerate into bankruptcy and reorganise it did not come as a surprise to some lessors, who had been anticipating such an announcement around the Chinese New Year.
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NewsVietjet profitable in 2020, banks on ancillary revenue and cargo
Vietjet Air reports a profitable year in 2020 despite the pandemic, banking on ancillary revenue and cargo.
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NewsJAL cuts earnings forecast citing pandemic uncertainty
Japan Airlines (JAL) has sharply reduced its profit and revenue forecasts for the 2020 financial year, as it reports significant nine-month losses.
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NewsManila, Jakarta beef up tactical transport fleets
The Philippine air force has taken delivery of the first of two Lockheed Martin C-130H tactical transports provided under the US government’s Excess Defence Articles programme.
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NewsHainan Airlines warns full-year loss could hit staggering CNY65 billion
China’s Hainan Airlines has forecast a staggering full-year net loss of between CNY58 and 65 billion ($9-10 billion), with asset impairment costs expected to account for a significant portion of its red ink.
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NewsSIA Engineering ekes out small profit in third quarter
SIA Engineering (SIAEC) swung briefly back into the black in its third-quarter earnings, warning that the “glacial pace” of global air travel recovery is punishing its profitability.
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NewsChina’s ‘Big Three’ flag steep full-year losses from pandemic impact
China’s three largest carriers are expecting to swing firmly into the red for the year ended 31 December 2020.
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NewsChinese domestic flights drop to levels last seen in May 2020
Domestic flights in China have entered a steep downward trend in the past few days, according to data released by Eurocontrol, as the country responds to a resurgence of Covid-19 cases in some regions.