All Strategy articles – Page 165
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NewsAirline ‘paper profits’ useless in a crisis: Wizz Air chief
An important lesson from the coronavirus crisis is that too many airlines focus on “paper profits” at the expense of genuine liquidity, according to Wizz Air chief executive Jozsef Varadi.
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NewsUnited suffers ‘most difficult’ quarter in its 94-year history
United Airlines posted a loss of $1.6 billion for the second quarter of the year as the global coronavirus pandemic brought commercial aviation to a near-standstill, decimating passenger demand and forcing the carrier to ground a large portion of its fleet.
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NewsAlaska Airlines’ pilots approve measures that will prevent furloughs: union
Pilots at Alaska Airlines have reached an agreement with the carrier that they say will prevent the need for furloughs and layoffs when government payroll support ends later this year.
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NewsAegean Airlines to operate at half of 2019 capacity in August
Greece’s Aegean Airlines is operating around 40% of last year’s summer capacity in July, rising to half in August, as it looks to rebuild its schedules after the coronavirus grounding.
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NewsRyanair to axe Hahn base after pilots reject cost-savings deal
Irish budget carrier Ryanair is set to close its base at Frankfurt Hahn airport in November as part of wider cuts after failing to reach agreement on cost savings with German pilots.
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NewsVietnam suspends new airline approvals until 2022
Vietnam’s government will delay approving the establishment of any new airlines in the country until 2022 to give the country’s aviation industry some breathing room to recover from the Covid-19 pandemic. The transport ministry has proposed to focus on the recovery of the local aviation sector in the short term ...
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NewsDisinfection adds 50% to Air Baltic A220 turnaround time
The disinfection of aircraft has added at least 20 minutes to turnaround times, according to Air Baltic chief executive Martin Gauss.
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NewsChina Eastern optimistic about strong domestic recovery
China Eastern Airlines anticipates restoring most of its domestic network by the end of July, as it records a ten-fold increase in flights within the country since the coronavirus outbreak bottomed out travel demand. In an update following its release of June traffic figures, the SkyTeam carrier estimates that ...
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NewsIndian carrier IndiGo lays off 10% of staff
Indian airline IndiGo is cutting 10% of its workforce due to the pandemic-induced industry downturn, saying cost cutting has been insufficient to prevent a companywide contraction.
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NewsAir Baltic chief ‘optimistic’ but says slow pace is critical
Air Baltic and the wider airline industry will successfully navigate the coronavirus crisis as long as a cautious approach is taken to reinstating services, according to the carrier’s chief executive Martin Gauss.
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NewsChinese ‘Big Three’ warn again of first-half earnings hit, despite traffic recovery
China’s three largest state-owned carriers have reiterated warnings that their first-half financial results will take a hit from the coronavirus outbreak, even as its June passenger traffic continued to improve month on month. In similarly-worded impact statements released together with its monthly traffic results, Air China, China Eastern Airlines ...
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NewsUnited’s pilot union green-lights voluntary measures to mitigate layoffs
The union representing United Airlines’ pilots has voted to accept voluntary staff reduction plans that would help reduce the number of pilots who might be laid off in the coming months.
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NewsCathay anticipates HK$9.9 billion half-year net loss
Cathay Pacific Group expects to post a net loss of about HK$9.9 billion ($1.28 billion) for the six months ended 30 June, even as it gradually adds capacity back to its network. The first-half net loss, which is subject to auditor reviews, is a stark contrast to its financial ...
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NewsCharter start-up GlobalX signs for an A320
Prospective charter carrier Global Crossing Airlines has entered into an agreement to purchase one Airbus A320-200 aircraft as it awaits FAA approval to begin operations.
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Airline BusinessAirlines urgently need winter waiver decision: IATA slots chief
Airlines urgently require regulatory bodies to waive the 80:20 slot rule for the northern hemisphere winter season, according to Lara Maughan, head of worldwide airport slots at IATA. Absent decisions to do so by the end of July – particularly from the European Commission, which has regulatory oversight of half ...
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NewsAmerican Airlines warns 25,000 employees of pending job losses
American Airlines has warned 25,000 employees that they may be out of a job when the USA’s federally funded payroll support programme runs out on 1 October.
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NewsAir Baltic expects growth ‘leading to IPO’ as bailout is approved
Shareholders in Air Baltic have approved a €250 million ($285 million) investment by the Latvian government to ensure the carrier’s survival amid the coronavirus crisis.
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NewsHong Kong government appoints board observers to Cathay Pacific
The Hong Kong government has appointed two observers to the board of Cathay Pacific Airways, as part of its bailout plan for the Chinese special administrative region’s flag carrier. Carlson Tong and Rimsky Yuen joins the board as observers with immediate effect, the government said in a 14 July statement. ...
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NewsLessors bemoan lack of clarity around Garuda’s bailout
Garuda’s lessors are concerned about the lack of clarity surrounding the quantum and timing of an expected government bailout seen as key to the survival of Indonesia’s national carrier, even though it pulled off a three-year extension of its $500 million sukuk last month. Lessors tell Cirium they have been ...
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NewsDelta says road to recovery will be long and ‘choppy’
Delta Air Lines has seen a few positive signals for a recovery after the coronavirus pandemic almost completely shut down air travel during April, as it was able to reduce cash burn amid a small increase in bookings, but the airline’s losses during the quarter indicate the industry’s crisis is still far from over.