All Strategy articles – Page 137
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NewsAustrian plans further restructuring amid stalled recovery
Austrian Airlines is planning to implement further restructuring measures in response to lower-than-predicted travel demand amid the current wave of Covid-19 infections. The Lufthansa Group carrier says it is currently operating around 15% of pre-crisis capacity. It had previously forecast that the level would reach 50% during the winter season ...
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NewsAeroflot losses hit $1.3 billion in 2020
Russian flag carrier Aeroflot incurred a net loss in 2020 amid slumping revenue as passenger numbers were hammered by the Covid-19 crisis.
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NewsCanadian operators West Wind and Transwest to consolidate as Rise Air
West Wind Aviation and Transwest Air will consolidate and rebrand as Rise Air to adapt to the travel downturn of the coronavirus pandemic and provide charter flights to western and northern Canada pending regulatory approval.
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NewsSkyWest loses $46 million in fourth quarter with reduced flight schedules
SkyWest Airlines says it lost $46 million in the fourth quarter of 2020, as reduced flight schedules and lower demand from its mainline airline partners continued to challenge the regional carrier.
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NewsStrong cargo demand helps Singapore Airlines cut Q3 loss
Singapore Airlines Group narrowed its third-quarter operating loss, as stronger cargo performance helped offset any further revenue loss from a pandemic-led collapse in passenger travel demand.
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NewsChina Eastern’s parent to pump in up to $1.67bn via A-share issue
China Eastern Airlines’ controlling shareholder CEA Holding will inject up to CNY10.8 billion ($1.67 billion) into the airline by purchasing nearly 2.5 billion of newly issued A-shares, in a move the Shanghai-based carrier says will provide “strong financial support” for it to develop its business to cope with the impact of Covid-19.
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NewsSmaller Chinese carriers expect comparatively modest 2020 losses
The financial losses expected by three of China’s smaller carriers in 2020 are dwarfed by losses expected at the “Big Three” and troubled Hainan Airlines.
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NewsAllegiant Q4 loss is $29m, sees recovery ‘on the horizon’
Allegiant Travel Company, the parent of ultra-low-cost carrier Allegiant Air, sees a post-coronavirus recovery “on the horizon” with customer travel intention steadily rising following almost a year of coronavirus-driven inertia.
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NewsAmerican warns of more layoffs as expected summer travel demand falls short
Citing the slow pace of vaccinations and new travel restrictions, American Airlines has warned 13,000 workers they might be laid off after government aid expire on 31 March.
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NewsAirline passenger traffic saw sharpest decline in history during 2020
The coronavirus-ravaged airline industry experienced its sharpest-ever decline in passenger demand during 2020, as global traffic fell 65.9% from 2019 levels, according to full-year data released by IATA today.
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Airline BusinessHNA Group’s years of debt-fuelled acquisitions end in shambles
It may have started life as an aviation group, but by the time creditors showed up with bankruptcy filings, China’s HNA Group was a massive conglomerate with broad interests; from property to logistics; from aviation to financial services, the company had a finger in every pie.
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NewsPAL to cut workforce by one-third from mid-March
Philippine Airlines (PAL) will axe about 2,300 staff across its business, starting mid-March, a move that has been looming since October.
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NewsQantas could launch Project Sunrise flights in 2024
Qantas could introduce ultra-long-haul flights under its delayed Project Sunrise programme as soon as 2024, according to the carrier’s chief executive, Alan Joyce.
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NewsRyanair eyes slow-then-sudden 2021 recovery
Ryanair expects a gradual recovery in the spring to be followed by a “substantial” return to flying through the summer, as desperate northern Europeans rush back to holiday destinations. Noting that the carrier is “already seeing a rise in bookings into the period”, group chief executive Michael O’Leary said during ...
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NewsHainan Airlines warns full-year loss could hit staggering CNY65 billion
China’s Hainan Airlines has forecast a staggering full-year net loss of between CNY58 and 65 billion ($9-10 billion), with asset impairment costs expected to account for a significant portion of its red ink.
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NewsChina’s ‘Big Three’ flag steep full-year losses from pandemic impact
China’s three largest carriers are expecting to swing firmly into the red for the year ended 31 December 2020.
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NewsIndustry groups urge US government to reject domestic testing requirement
A coalition of travel industry lobby groups and unions is urging the new US administration to reject a coronavirus testing mandate for domestic air travel similar to the one that was introduced for international arrivals earlier this week.
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NewsUnited warns 14,000 employees their jobs may be in danger
United Airlines has put 14,000 employees on notice that their jobs are once again in danger when the second round of US government financial aid set aside for airline payroll support expires on 31 March.
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NewsAir cargo leaders expect ‘challenging but profitable’ 2021
Elevated demand for dedicated air cargo services will persist for several years until there is a meaningful return of passenger services, according to leading figures in the air cargo industry.
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NewsChinese domestic flights drop to levels last seen in May 2020
Domestic flights in China have entered a steep downward trend in the past few days, according to data released by Eurocontrol, as the country responds to a resurgence of Covid-19 cases in some regions.