All articles by Cirium – Page 59
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NewsSmaller Southeast Asian carriers operate reduced schedules
Smaller Southeast Asian carriers are operating on reduced schedules, alongside significant cuts by the region’s major operators. Vietnam Airlines’ domestic services are largely suspended, for two weeks until 15 April, except for five routes out of Hanoi and Ho Chi Minh City. This comes after the government issued a directive ...
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NewsChina Southern’s full-year profit up 23%
China Southern Airlines saw growth in its revenues and operating profit last year, although its net profit declined and its cash position took a substantial hit. The Guangzhou-based carrier’s operating profit for the year ended on 31 December 2019 grew 22.9% to CNY10.8 billion ($1.5 billion). Revenue was up 7.4% ...
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NewsVirgin Australia seeks $865m financial support from government
Virgin Australia is seeking A$1.4 billion ($865 million) in financial support from the Australian government to battle the downturn caused by the coronavirus crisis. “It is a preliminary proposal and remains subject to approval by the Virgin Australia Holdings Board and the Australian government and may or may not include ...
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NewsThai Airways to ground most of its fleet, seeks liquidity boost
Thai Airways International will ground 69 of 82 aircraft in its fleet and is looking for ways to boost finances as it battles the coronavirus crisis. The carrier said on 30 March that the figure excludes budget unit Thai Smile, which continues to operate domestic flights. Low-cost rival Thai AirAsia ...
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NewsJin Air uses 777 aircraft for cargo-only flights
South Korea’s Jin Air is the latest to deploy passenger planes on pure cargo operations as the coronavirus crisis wipes out business and leisure travel worldwide. The budget carrier says it will use its Boeing 777-200ER aircraft for cargo flights on the Incheon-Taipei route from 30 March to 13 April ...
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NewsAir NZ braces for $3 billion revenue plummet, starts layoffs
Air New Zealand has detailed how the coronavirus pandemic has all but wiped out its revenue this year and says it will start the process of laying off up to 3,500 workers this week In an email to staff, chief executive Greg Foran says revenue is on track to plummet ...
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NewsShort-time work begins for Lufthansa cabin crew and ground staff
Lufthansa has agreed short-time working arrangements with flight attendants and ground staff after suspending much of its operation amid the coronavirus crisis. Deals struck with trade unions and the company’s works council cover “at least” 27,000 of a total 35,000 employees, Lufthansa says. It adds that an agreement with pilot ...
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NewsAir New Zealand operates first Shanghai cargo flight
Air New Zealand is operating a cargo flight to Shanghai for the first time, as freight operations become “a really important part of what we do in the next quarter”. The carrier will deploy a Boeing 787-9 for the service, which departs Auckland around midnight today, carrying local food exports. ...
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NewsQantas pilots vote in favour of Project Sunrise pay deal
Qantas long-haul pilots have voted in favour of a deal on pay and conditions for Project Sunrise flights. The deal means existing Qantas long-haul pilots will fly Airbus A350s if an order is made for the ultra-long-haul project, Australia’s biggest airline says in a statement. Project Sunrise is the airline’s ...
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NewsTwo more AirAsia carriers suspend operations from April
Indonesia AirAsia and Thai AirAsia are the latest among the AirAsia Group carriers to suspend operations, leaving just AirAsia Japan in service. Indonesia AirAsia will suspend domestic flights until 21 April and international flights until 17 May. Thai AirAsia will halt all domestic services during the month of April, having ...
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NewsJapanese and South Korean carriers further cut April schedules
Japanese and South Korean carriers have made further reductions to their summer schedules in light of the coronavirus outbreak. ANA had planned to serve a total of 4,653 flights on 72 routes between March 29 and April 24, but says 3,813 of those, on 68 different routes, have now been ...
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NewsAirAsia and AirAsia X to be grounded from 28 March
Malaysian low-cost carriers AirAsia and AirAsia X will suspend operations from 28 March due to growing border restrictions imposed by various countries amid the coronavirus pandemic. AirAsia will be grounded until 21 April, while long-haul sister carrier AirAsia X is to be grounded until 31 May, says AirAsia Group, which ...
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NewsAPAC airports could lose $23.9 billion revenue: trade association
The coronavirus crisis could have a $23.9 billion impact on revenue for Asia-Pacific airports this year, according to estimates by the Airports Council International (ACI) Asia-Pacific. In comparison, those in the Middle East could see a revenue shortfall of $5.7 billion, and ACI urged governments to help safeguard airports in ...
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NewsUnited agrees $500 million term loan with Goldman Sachs
United Airlines has agreed to borrow $500 million from Goldman Sachs Bank USA in the form of a one-year secured term loan. The Chicago-headquartered carrier will use the loan for related transaction costs, fees and expenses, and for working capital and other general corporate purposes. It has pledged some of ...
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NewsChina cuts overseas flights to stem imported coronavirus cases
The Civil Aviation Authority of China (CAAC) is further cutting the number of international flights allowed by both local and foreign carriers, in a bid to contain the “increasing risks” of imported coronavirus cases. Effective 29 March, each Chinese airline is allowed to operate just one route to any specific ...
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NewsICAO welcomes government support for aviation sector
UN aviation body ICAO welcomed a statement from G20 countries to aid in the global recovery from the coronavirus pandemic, highlighting that aviation is one of the worst-hit sectors. The G20 said on 26 March it will do “whatever it takes” to overcome the pandemic, and will continue to “conduct ...
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NewsQatar Airways opens Brisbane service amid Coronavirus
The coronavirus pandemic has opened a new route for Qatar Airways, which will operate flights to Brisbane for the first time and increase services to Australia to help people get home. The Doha-based carrier said on 26 March it will add 48,000 seats from 29 March and use larger aircraft ...
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NewsSingapore Airlines boosts liquidity amid coronavirus crisis
Singapore Airlines is planning to issue S$5.3 billion ($3.7 billion) in equity and S$3.5 billion in 10-year mandatory convertible bonds in order to raise liquidity as demand for air travel slumps globally. The company will raise an initial tranche of S$3.5 billion via the convertible bond, with the option to ...
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NewsJet fuel prices hit two-decade lows
The cost of purchasing jet kerosene is continuing to fall despite a slight uptick in crude prices, as demand from airlines dries up completely in some regions.
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NewsSouth African Airways acting chief takes early retirement
South African Airways acting chief executive Zuks Ramasia will retire on 14 April, less than a year after assuming the position.