All articles by Cirium – Page 54
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NewsICAO predicts 1.2 billion fewer air travellers by September
ICAO forecasts that the Covid-19 crisis could send the number of international air travellers falling by up to 1.2 billion by September 2020, compared to a typical year. It also estimates that airline revenues could fall by $160-253 billion for the first nine months of this year, with international capacity ...
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NewsVietJet records 14% decline in 2019 profit
VietJet Air saw its operating profit in 2019 decline 14.3% to D4.98 trillion ($211 million), down from the previous year’s profit figure of D5.8 trillion. Consolidated revenue for the year ended 31 December 2019 declined 2.8% to D52 trillion. Net profit meanwhile fell 20.9% to D4.22 trillion. Cash and cash ...
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NewsAsian lessors ‘better sheltered’ from coronavirus: Goldman Sachs
Asian aircraft lessors with strong shareholder backing and deep pockets are better positioned to weather the coronavirus crisis than their counterparts in other regions which may be less well-capitalised, says Goldman Sachs. The severity of the coronavirus pandemic “could create some real concerns to some players”, though Asia is “better ...
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NewsSIA’s fund-raising plan is ‘gold standard’: Goldman Sachs
Goldman Sachs deems Singapore Airline’s plans to raise up to S$15 billion ($10 billion) the “gold standard” among coronavirus-related rescue packages for airlines. “We view that as really the gold standard for the packages that have been put in place,” Nicola Dondi, managing director at Goldman Sachs (Asia), said at ...
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NewsAsiana Airlines gets new loans from state banks: reports
South Korea’s Asiana Airlines has received additional loans from two state banks as it grapples with the coronavirus crisis, according to media reports. The Korea Development Bank (KDB) and the Export-Import Bank of Korea will inject W1.7 trillion ($1.4 billion) into South Korea’s second-largest carrier, Yonhap and Reuters reported on ...
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NewsTraffic at Asia-Pacific airports hits ‘rock bottom’: ACI
Asia-Pacific airports have seen traffic hit “rock bottom” due to the coronavirus outbreak, said the Airports Council International (ACI) Asia-Pacific. According to preliminary traffic data the trade association released on 20 April, 18 airports in major aviation markets in Asia-Pacific and the Middle East saw traffic plummet by 95% by ...
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Airline BusinessThe lessors with the most exposure to Virgin Australia
Singapore-based Avation is the lessor with the highest exposure, by number of aircraft, to Virgin Australia, which has entered voluntary administration. Goshawk, meanwhile, has the most lease rentals to lose if the airline cannot make payments. Avation has 13 aircraft with the Brisbane-based carrier, including 11 ATR 72s on operating ...
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NewsAirlines await details of Trump plan to halt US immigration
US president Donald Trump has announced plans to temporarily halt all immigration to the USA, as the country grapples with the coronavirus epidemic.
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NewsOver 10 parties show interest in Virgin Australia: administrator
The administrators for Virgin Australia note there is healthy interest in recapitalising the airline and intend to bring it out of administration as quickly as possible. “There are in excess of 10 parties known to us who have got a keen interest in being part of the restructure of Virgin,” ...
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NewsUnions urge government to offer Virgin Australia support
Unions are calling on the government to help support Virgin Australia after the airline entered voluntary administration today. The country’s second-largest carrier has appointed Deloitte to help it recapitalise and make it through the coronavirus crisis after talks with various parties, including the government, to secure financial support failed to ...
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NewsCanberra wants ‘market-led’ solution for Virgin Australia recap
Canberra does not want to bail out Virgin Australia and wants to see a “market-led” solution to the airline’s recapitalisation efforts. Australia’s treasurer Josh Frydenberg told a press conference today: “Virgin Australia is a very good airline, performing a very important role and this is a difficult day for its ...
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NewsVirgin Australia enters voluntary administration
Virgin Australia has entered voluntary administration as it seeks to recapitalise the business. “The decision comes as the group has continued to seek financial assistance from a number of parties, including state and federal governments, to help it through the unprecedented crisis, however is yet to secure the required support,” ...
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NewsMesa accepts $93 million in payroll grants
Mesa Air Group, the parent of Phoenix-based Mesa Airlines, will accept $93 million in payroll support from the federal CARES Act. The US Treasury will not require Mesa to enter into a loan or equity agreement in exchange for the funds because the amount is less than $100 million, a ...
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NewsUnited reports preliminary $2.1 billion first-quarter loss
United Airlines has reported a preliminary pre-tax loss of $2.1 billion for the first quarter of 2020 and a $1 billion pre-tax loss on an adjusted basis.
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NewsFour of Norwegian’s crew subsidiaries file for bankruptcy
Scandinavian budget carrier Norwegian has confirmed that four subsidiaries which employ more than 4,000 pilots and cabin crew members in Denmark and Sweden have filed for bankruptcy.
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NewsVirgin Atlantic needs state support to survive: Branson
Virgin Atlantic needs government support to survive the coronavirus crisis, the airline’s founder warned today.
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NewsANA lowers full-year forecast on coronavirus impact
All Nippon Airways’ parent company has revised down its financial results forecast for the fiscal year ended 31 March 2020, as the coronavirus outbreak batters air traffic. ANA Holdings expects operating revenues to come in at Y1.97 trillion ($18.3 billion), Y120 billion lower than the previous forecast disclosed on 29 ...
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NewsCDB cancels 29 737 Max orders, defers others
CDB Aviation is cancelling 29 of 99 Boeing 737 Max orders while making adjustments to the rest of its orderbook for the type. It plans to push back the delivery of 20 undelivered aircraft to “various dates in 2024, 2025 and 2026” and, without providing further details, downgauge all remaining ...
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NewsIndian carriers to fully refund ‘lockdown’ tickets
Indian airlines have been asked to issue a full refund for tickets booked for travel during the country’s recently extended lockdown period, and this could impact their cash position. In a memorandum published on its official Twitter account, the Directorate General of Civil Aviation (DGCA) said on 16 April that ...
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AnalysisAPAC airlines, airports weigh up post-Covid-19 measures
Airlines and airports in Asia-Pacific are looking ahead to how travel behaviour may need to change and the necessary measures to reassure the travelling public as they cautiously prepare to restart operations after the Covid-19 crisis. The spread of Covid-19 has wiped out air travel, leaving skies empty and airports ...