All articles by Cirium – Page 50
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NewsCebu Pacific reviews long-term fleet plans
Cebu Air, the parent company of Cebu Pacific, is reviewing its long-term fleet plans, and has begun discussions with suppliers “to establish flexibility to adapt to current events”. In line with anticpated lower aircraft utilisation in future, the company will also defer previously planned aircraft capital expenditures, it said in ...
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NewsAmedeo agrees rental deferrals with Thai Airways
Amedeo has agreed in principle to grant lease rental deferrals to beleaguered Thai Airways, though the lessor says the agreement has not yet been signed due to the Thai government setting up a special committee to handle a new business improvement plan for the airline. Amedeo Air Four Plus, Amedeo’s ...
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NewsSwiss to adapt fourth 777 for cargo-only flights
Swiss plans to modify a fourth Boeing 777 for cargo-only flights as the Lufthansa subsidiary grows its intercontinental freight network. Under a new schedule effective since 15 May, Hong Kong, New York JFK and Mumbai have become new destinations served with multiple weekly frequencies, Swiss says. Previously, it operated cargo ...
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NewsRyanair expects post-Covid-19 price war
Fares will be slashed across Europe once coronavirus travel restrictions are lifted as airlines seek to tempt passengers back on board, Ryanair believes.
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NewsFinnair outlines plan to restart Europe and Asia flights in July
Finnair plans to start operating 30% of its network from July with flights to a number of key European and Asian cities.
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NewsThai Airways quashes bankruptcy rumours
Thai Airways International indicates that reform plans are still underway and dismisses recent bankruptcy rumours. “[Thai] has clarified that it has no intention to file for bankruptcy, responding to rumours [that] appeared in the news and online about the consensus of its board of directors meeting on 15 May 2020 ...
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NewsAir travel restart differs in India and Pakistan
India is taking a more cautious approach than neighbouring Pakistan, which is looking to restart air travel. There will be no commercial flights in India until at least June, after the government extended a lockdown until the end of this month. A circular posted on the official Twitter account of ...
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NewsVirgin Australia draws up shortlist of buyers
Virgin Australia has drawn up a shortlist of potential buyers from the first round of bids that closed on 15 May. “We are delighted by the strength of each of those on the shortlist, with parties selected being well-funded and possessing deep aviation experience,” Deloitte lead administrator Vaughan Strawbridge said ...
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AnalysisChinese lessors look closer to home for deals
China’s leasing executives are now the jetsetters of the industry, while their counterparts elsewhere relinquish their road warrior status and adapt to work-from-home conditions due to lockdowns and travel restrictions. “I’m going to take off in several minutes,” says a Chinese leasing executive in a recent message to Cirium on ...
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NewsGaruda to refocus on cargo while ending London and Nagoya flights
Garuda Indonesia intends to give air freight a greater emphasis this year, targeting a 10% rise in cargo revenue, and will end its flights to London and Nagoya. In an investor presentation on its full-year 2019 results, the airline says it aims to both to transport higher-margin goods and to ...
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NewsAsiana moves up planned maintenance amid crisis
South Korea’s Asiana Airlines is bringing forward maintenance schedules, while it hunkers down during the Covid-19 crisis. As a result of aircraft groundings, the carrier was able to advance planned maintenance by about 17% in preparation for the return of air travel, it says in a discussion of its first-quarter ...
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NewsRyanair cuts office staff at four bases
Ryanair has axed more than 250 office-based jobs at four locations and will this month announce details of its plan to slash up to 3,000 crew positions
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NewsJet2 owner accesses £300m UK government loan
Jet2’s parent company has qualified for a £300 million ($366 million) loan from the UK government’s Covid Corporate Financing Facility (CCFF).
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NewsKorean Air reports $46 million first-quarter loss
Korean Air reported a W56.6 billion ($46 million) operating loss for the first quarter of 2020 and says the “relatively mild loss” was mitigated by lower operating costs.
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NewsSingapore Airlines parent slips to full-year net loss
SIA Group saw its annual operating profit dwindle to S$59 million ($41 million) in the 12 months ended 31 March – from S$1.07 billion the previous financial year – and was loss-making at the net level.
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NewsJet Airways invites expressions of interest for a fourth time
Jet Airways, the Indian carrier that suspended operations last year amid financial difficulties, has launched a fourth search for a buyer. A document on the Mumbai-based carrier’s website, a version of which was also published in various Indian newspapers, sets a deadline of 28 May 2020 for expressions of interest. ...
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NewsBangkok Airways swings to first-quarter loss
Bangkok Airways posted an operating loss of over Bt260 million ($8.1 million) in the first quarter of 2020, undoing the Bt870 million operating profit in the same period last year. Revenue for the quarter ended 31 March fell 17.5% year-on-year to Bt6.42 billion. Passenger revenue declined 25.3% to Bt4.45 billion, ...
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NewsUS DOT relaxes CARES Act route commitments
The US Department of Transportation (DOT) will allow airlines to suspend service to at least five additional locations on their networks in an ongoing process to minimize the costs of operating flights amid coronavirus while keeping the USA connected. The CARES Act gives authority to the US Transportation and Treasury ...
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NewsKorean Air raises $1.8 billion from new shares and government aid
Korean Air will raise W2.2 trillion ($1.8 billion) in fresh capital – W1 trillion from a new share issue and W1.2 trillion in government aid – to overcome challenges posed by the Covid-19 pandemic. The carrier will issue 79 million shares at W12,600 each, a move it says was decided ...
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NewsIATA: Passenger demand may not recover until 2024
IATA has warned the coronavirus crisis will result in semi-permanent damage to the airline industry and may subdue passenger revenues until 2024.