News from FlightGlobal – Page 572
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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 ...
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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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NewsEurocontrol: All-cargo flights stay level as passenger traffic collapses
Efforts to maintain supply lines during the coronavirus crisis has meant all-cargo flights have barely declined in Europe despite the wipe-out of passenger operations across the continent. Pan-European air navigation organisation Eurocontrol states that, on 26 March, it logged 1,127 all-cargo flights – a fall of just 1% on the ...