All articles by Cirium – Page 48
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NewsBain Capital and Cyrus Capital on Virgin Australia shortlist
Bain Capital and Cyrus Capital Partners are on the final shortlist of potential buyers for Virgin Australia. “The next stage in this sale process begins today,” administrator Deloitte said on 2 June. Deloitte will facilitate engagement between the preferred bidders and business stakeholders in the coming weeks, ...
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NewsSIA and SilkAir maintain steep capacity cuts in June and July
Singapore Airlines and SilkAir have announced flight schedules for June and July, which represent an approximately 94% cut against the original capacity scheduled. Apart from serving four destinations in Australia, the carriers will fly to only one or two cities in each destination country. SilkAir will operate on routes to ...
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AnalysisAmazon’s aviation plans will benefit from cargo’s rally
Amazon Air is one of the few airlines that has seen an uptick in demand amid the coronavirus pandemic as home orders for goods has increased from its namesake e-commerce website, leading analysts to debate how fast its fleet could grow through 2028. Amazon Air tells Cirium that by 2021 ...
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NewsHong Kong airport gradually reopens to transit passengers
Hong Kong International Airport (HKIA) has, from today, resumed allowing some transit passengers to use the airport. “From 1 June 2020 until further notice, only transit/transfer passengers who have been checked through at the origin port and take transit/transfer flights operated by the same airline group are accepted at HKIA,” ...
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NewsEmirates concludes that job cuts are required as coronavirus takes toll
Emirates plans to cut an unspecified number of jobs as the coronavirus pandemic takes its toll on the Gulf carrier. The Dubai-based airline said on 31 May that it has come to the conclusion that “we unfortunately have to say goodbye to a few of the wonderful people that worked ...
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NewsCompetition watchdog keeps eye on Qantas’ stake in Alliance
The Australian Competition and Consumer Commission (ACCC) has provided an update on its investigation into Qantas’ acquisition of a 19.9% stake in Alliance Aviation, the parent company of Alliance Airlines, on 1 February 2019. “The Australian aviation industry is in a state of major upheaval and now, more than ever, ...
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NewsBritish Airways boosts two 777s’ cargo capacity
Two of British Airways’ Boeing 777-200s have had their seats and interiors removed to increase their cargo-carrying capacity. One of the jets is today being flown to Beijing in order to collect personal protective equipment, food, medicine, and other cargo. “With demand for passenger travel still very low, working with ...
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NewsDemand for air travel to remain low until 2023: S&P
Airlines face a prolonged uphill climb before air travel demand recovers to pre-pandemic levels, as passenger numbers are likely to remain below last year’s levels until 2023, S&P Global Ratings has suggested in a new report. The ratings agency forecasts a “swoosh-shaped” recovery in which, after plummeting up to 55% ...
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NewsANA Holdings undertakes $3.3 billion debt financing
All Nippon Airways’ parent company has decided to undertake a fresh round of debt financing from the Development Bank of Japan, amounting to Y350 billion ($3.3 billion). The agreement is subject to a 29 June borrowing deadline and the debt financing will be repaid over the long term, “determined by ...
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NewsChallenges ahead in Thai Airways business rehabilitation
The 60-year-old Thai Airways International, now in court-supervised business rehabilitation, carries the burden of legacy issues, a history of failed restructuring and transformations, and being ill-equipped to tackle industry challenges.
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NewsSAS pushes A320neo deliveries to 2024
SAS has agreed with Airbus to delay delivery of four A320neos and is in talks with the airframer on further deferrals as the Scandinavian carrier prepares for a slow recovery in traffic after the coronavirus crisis.
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NewsNorwegian clings to restructuring hopes as Q1 losses widen
Norwegian’s first-quarter losses have widened significantly to NKr3.28 billion ($331 million) and the company remains in “hibernation mode”, in the hope that its recent financial restructuring and state-aid lifeline will enable it to have a future.
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NewsThai Airways appoints planners for business rehabilitation
Thai Airways International has appointed five people, including one of its former presidents, to jointly hold the position of plan preparer during its business rehabilitation process. The carrier’s chairman Chaiyapruk Didyasarin and acting president Chakkrit Parapuntakul have been appointed, along with three newly appointed board members: former president Piyasvasti Amranand, ...
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NewsLessor Avation pulls the plug on sale process
Avation is ending its formal sale process as the Covid-19 pandemic brings unprecedented disruption to the aviation industry that is still ongoing. The Singapore-based lessor says in a 27 May statement that over the past “several weeks”, Covid-19 has “continued to disrupt business activities, particularly air travel, on an unprecedented ...
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NewsBankruptcy is not a financial tool: American chief
American Airlines chief executive Doug Parker expects all the major US airlines to survive the current zero-revenue environment created by coronavirus pandemic, including the one he leads. Despite the many millons of dollars being burned daily by American (and by its peers), filing for bankruptcy protection is not perceived by ...
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NewsAir Canada seeks five new international cargo routes
Air Canada is seeking government approval to add five new destinations in Europe and South America to its air freight network starting 1 June, seeking to take advantage of demand for cargo capacity even as passenger travel demand remains stagnant. If approved, the Canadian flag carrier would operate air freight ...
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NewsRyanair challenges Lufthansa state-aid package
Ryanair plans to appeal against Lufthansa’s €9 billion ($9.9 billion) financial package from the federal German government on the grounds that it “distorts competition”. Lufthansa Group received approval from the German government’s economic stabilisation fund, WSF, on 25 May for a rescue deal under which the fund would take a ...
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NewsSAA rescuers pour cold water on plan to resume domestic flights
South African Airways’ plan to restart domestic flights in mid-June has been called into question by its rescuers, who have criticised the airline for releasing an “unvetted” public statement that created an “unfair expectation” among stakeholders.
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NewsCebu Pacific seeks SLBs for entire A320 fleet: sources
Cebu Pacific is seeking sale-and-leasebacks for as many as 17 of its Airbus A320s, according to two sources. The airline was originally seeking to lease-back 14 of the aircraft, but subsequently increased the number to 17 to encompass its entire owned A320 fleet, according to one of the sources. Besides ...
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NewsCourt accepts Thai Airways rehabilitation filing: sources
A Thai bankruptcy court has today accepted Thai Airways International’s application for business rehabilitation, and a hearing will be held in under three months as to whether the company should be permitted to enter that process, according to two sources. “Today, the court has accepted the request for business rehabilitation ...