News from FlightGlobal – Page 480
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NewsIndonesia AirAsia’s growth halted due to coronavirus and economy
Indonesia AirAsia has been forced to halt its growth plan for this year, as a result of the coronavirus pandemic and economic challenges faced by Indonesia. The plan for 2020 was for the low-cost carrier to increase its market share by adding three new aircraft and launching new services, having ...
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NewsSouthwest cuts capacity another 20%
Southwest Airlines deepened its capacity cuts to 40% from 3 May through 5 June.
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NewsAvion Express re-enters airfreight market with cargo-only flight offering
ACMI operator Avion Express is re-entering the airfreight market in response to increased demand for freighter aircraft operations as a result of the Coronavirus pandemic.
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NewsEmirates transfers all freighter operations to Dubai International
Middle Eastern carrier Emirates is consolidating freighter operations at Dubai International from 1 April, suspending operations at the city’s Dubai World Central hub. Emirates is re-organising its freight network in response to the disruption from the coronavirus crisis. It says the decision to concentrate on Dubai International, the main passenger ...
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NewsCitilink swings back to profitability in 2019
Indonesian low-cost carrier Citilink posted an operating profit of $67.8 million in 2019, marking a return to profitability for the Garuda Indonesia subsidiary. This is a significant turnaround for the airline, which recorded an operating loss of $54.6 million in 2018, Garuda’s 2019 annual report shows. Revenue for the year ...
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NewsAir China warns of 'short term' loss from outbreak
Air China has joined a growing list of airlines in warning of an operating loss “in the short term”, as the coronavirus outbreak continues to wreak havoc. Discussing the outlook for 2020 in its full-year results, the Air China group noted the impact that the outbreak — which originated ...
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NewsAir China 2019 profit inches up 2.1%
Lower expenses, coupled with more passengers carried, helped push Air China’s 2019 operating profit slightly higher. It posted a full-year profit of CNY14.6 billion ($2.06 billion) for 2019, an increase of 2.1% compared to the previous year. Group revenue for the year fell marginally — at about 0.4% ...
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NewsChina Eastern sees ‘significant uncertainty’ in 2020
China Eastern Airlines enjoyed a boost in operating and net profit last year while strengthening its cash position, but the coronavirus pandemic is creating “significant uncertainty” in 2020. The Shanghai-based carrier’s operating profit gained 8.3% to CNY10 billion ($1.4 billion) for the year ended 31 December 2019. Net profit increased ...
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NewsWalter Cho re-elected as Hanjin KAL chairman
Walter Cho was re-elected as the chairman of Hanjin KAL at an annual general meeting held on 27 March. Hanjin KAL, the parent group of Korean Air, is controlled by the Cho family. Walter Cho succeeded his father, the late Cho Yang-ho, as head of Hanjin KAL in 2003. He ...
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NewsGaruda returns to profitability in 2019
Garuda Indonesia posted an operating profit of $147 million for 2019, a turnaround from the $199 million operating loss in 2018. Revenue grew 5.6% to $4.57 billion, driven by a 6.9% increase in passenger revenue. Total costs declined by 4% to $4.4 billion, as the group carrier tightened its belt. ...
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NewsMinimum number of flights required for airlines taking bailout money: US DOT
The US Department of Transportation (DOT) has published rules that US carriers must follow if they decide to accept government aid as a result of financial difficulties resulting from the global coronavirus crisis.
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NewsTegel airport operator plans temporary closure to cut costs
Berlin’s airports operator is preparing a temporary closure of the Tegel airport, and requires fresh capital to deal with the fallout of the coronavirus crisis
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NewsTicket refund burden to compound airline Q2 losses: IATA
A requirement to refund an estimated $35 billion in airline tickets during the second quarter will deepen the impact on their cash reserves on top of a projected industry loss of $39 billion for the quarter.
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NewsIcelandair to absorb regional Air Iceland Connect operation
Icelandair Group will fold the activities of Air Iceland Connect into its mainline operation and eliminate the position of the regional arm’s managing director.
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NewsEmirates to receive capital injection from Dubai government
Emirates is to be given a capital injection by the Dubai government, to support the Middle Eastern airline in the aftermath of the coronavirus outbreak. The operator – which has a fleet of Airbus A380s and Boeing 777s – has suspended passenger flights in line with United Arab Emirates restrictions, ...
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NewsBritish Airways suspends flights from Gatwick
British Airways has suspended operations at its London Gatwick hub, citing “challenging” market conditions caused by the coronavirus pandemic. Gatwick is the UK’s second-busiest airport after London Heathrow, and BA’s second-largest hub. Cirium schedules data shows that the carrier serves 75 destinations from Gatwick. Source: Gatwick Airport ...
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NewsEngine thrust incidents spur safety alert over biocides
European and US safety regulators are cautioning operators over the potential effects of misapplying biocides to aircraft fuel, including multi-engine loss of thrust control. The manufacturer of one type of biocide, however, has ordered a suspension to using the product after an incident which appeared not to have resulted specifically ...
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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 ...