All Strategy articles – Page 146
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NewsCapacity ‘will go elsewhere’ if travel restrictions remain: Ryanair chief
The chief executive of Ryanair’s mainline operation has warned the Irish government that the carrier is able to place its aircraft elsewhere in Europe, as he lamented the country’s current restrictions on international travel. Noting that Ireland does not have a state-owned flag carrier, Eddie Wilson states on Ryanair’s new ...
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NewsFormer Wizz deputy chief to lead Canadian budget carrier Flair
Canadian low-cost carrier Flair Airlines has named former Wizz Air deputy chief executive Stephen Jones to lead the company. He will replace Flair’s outgoing president and chief executive Jim Scott, who will remain a shareholder of the airline. Source: Flair Airlines Jones served as deputy chief executive at ...
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NewsFinnair develops ‘financial bazooka’ to survive crisis
Finnair has enough cash to survive until late 2021 with little or no flying, having introduced a raft of financial measures to ensure it can survive the coronavirus crisis
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NewsChina Southern prices CNY16 billion convertible bond
China Southern Airlines has announced pricing of an upcoming convertible bond issue that is set to raise CNY16 billion ($2.4 billion) for the carrier. The bonds, convertible to mainland China-listed A-shares, will bear 0.2% interest in the first year, 0.4% in the second year, 0.6% in the third year, 0.8% ...
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NewsChina Eastern parent gets CNY31 billion cash injection
China Eastern Airlines’ parent company, China Eastern Group, has received a CNY31 billion ($4.6 billion) capital boost from four state-owned enterprises. The four companies involved in the capital increase are China Life Investment Holdings, which will inject CNY11 billion; Shanghai Jiushi Group with CNY10 billion; as well as China Guoxin ...
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NewsSubtle shifts in travel may drive long recovery: trade group
As air travel struggles to return to pre-coronavirus levels, the industry is adopting new patterns of operating that might become permanent during a prolonged recovery, the airline trade group Airlines for America (A4A) says.
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NewsDelta eyes potential Covid boost to regional flying
Will the coronavirus pandemic cause a long-term bump in air travel from small- and medium-size airports?
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NewsSpirit CEO predicts quicker recovery than larger competitors
The chief executive of Spirit Airlines suspects his carrier will recover from the coronavirus downturn faster than major US carriers, though the pace of Spirit’s long-term fleet-growth plan remains uncertain.
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Airline BusinessCruz leaves British Airways with unfinished business
Ultimately it perhaps is not that surprising that the stepping down of IAG’s long-term group chief executive Willie Walsh should be followed by the departure of British Airways chief executive Alex Cruz. Walsh stepped down as leader of BA parent IAG in September, after delaying his initial departure to help ...
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Air Canada and Transat sharply discount takeover deal
Air Canada and Transat AT, the parent company of Air Transat, have renegotiated the terms of their planned tie-up, sharply discounting the price per share. The move was prompted by the devastating impact of the coronavirus on the air transport industry. The two Montreal-based carriers stated on 10 October that ...
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NewsNorwegian opens consultation over Gatwick job cuts
Scandinavian low-cost carrier Norwegian has opened a formal consultation over staff cuts at its London Gatwick base as the sustained impact of the global pandemic on air travel continues. The consultation relates primarily to short-haul pilots and cabin crew at Norwegian’s Gatwick base and potentially covers 259 roles. The airline ...
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NewsRyanair chief expects 737 Max return ‘in next month or so’
Ryanair mainline chief executive Eddie Wilson expects Boeing 737 Max jets to enter service in the USA imminently.
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NewsAllegiant burned $1.3 million daily during third quarter
The parent company of Allegiant Air burned a daily average of $1.3 million in cash during the third quarter, including debt payments, rising from its daily cash burn average of $900,000 during the second quarter.
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NewsAirports saw 58% drop in passengers during first half of 2020
Worldwide airport passenger numbers were down 58.4% year on year during the first half of 2020 as the pandemic weighed on travel demand, according to ACI World data released today.
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NewsPortuguese government completes TAP stake increase
Portugal’s government has completed its acquisition of an additional 22.5% stake in TAP, clearing the way for the airline to access the rest of its state loan.
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Airline BusinessCreditors face painful choice over AirAsia X
AirAsia X has asked creditors to accept an epic debt haircut, offering two painful options amid an airline industry in crisis. Announced on 6 October, the plan, if approved, would see liabilities of some MYR63.5 billion ($15.3 billion) reduced to just MYR200 million payable within the next five years at ...
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NewsEasyJet expects full-year losses of more than £800m
EasyJet is set to make a group headline loss for the year ended 30 September of between £815-£845 million ($1-$1.1 billion) and expects to fly only a quarter of its planned capacity over the remainder of the calendar year as the pandemic continues to hit demand.
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NewsCebu Pacific to raise $500 million in fresh capital
Cebu Pacific announced plans to raise up to $500 million in additional capital — by selling preferred shares and bonds — as it undertakes a restructuring exercise that sees it cut its fleet and network to cope with reduced travel demand. The Philippine low-cost carrier discloses that it will raise ...
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NewsAustrian cuts back winter capacity as Covid-19 cases rise
Austrian Airlines has become the latest European carrier to scale back winter capacity amid rising coronavirus infections and ongoing travel restrictions.
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NewsWizz Air to launch domestic Norwegian services
Wizz Air plans to establish a base at Oslo Gardermoen airport and operate domestic Norwegian services to Bergen, Tromso and Trondheim from early November.