All Strategy articles – Page 167
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NewsAuditor questions AirAsia Group’s survival
Accounting firm Ernst & Young has questioned the AirAsia Group’s ability to remain a going concern, citing deteriorating finances amid the coronavirus pandemic. It notes that the group suffered a full-year net loss of MYR283 million ($66 million) in 2019, a year in which liabilities exceeded assets by MYR1.8 billion. ...
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NewsAerCap sees big drop in Q2 lease agreements
Lessor AerCap signed lease agreements covering only 10 aircraft in the second quarter of 2020, down from 48 in the same period last year. The 10 aircraft comprise one widebody and nine narrowbodies, while in Q2 2019 AerCap signed deals for four widebodies and 44 narrowbodies, says the company. Aircraft ...
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NewsUnited sees cancellations rise, warns of furloughs
United Airlines says cancellations of forward bookings are once again rising due to new travel restrictions and increasing numbers of coronavirus cases across the southern sun belt states, prompting a warning that furloughs will be inevitable.
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NewsCanada’s Nolinor announces launch of new airline
Canadian passenger and freight charter airline Nolinor Aviation has announced plans to launch a new airline later this year despite the coronavirus crisis that has decimated much of the travel industry.
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NewsAeromexico looks to quit 19 aircraft leases
Grupo Aeromexico, the parent company of Mexico’s flag carrier, has petitioned to be released from aircraft and engine leases as it seeks to shrink its fleet to reduce costs.
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NewsBlue Air takes creditor protection step as it rebuilds network
Romanian carrier Blue Air has taken a preventative measure under local insolvency law as it further restores its network after the coronavirus grounding. Blue Air says it has taken the protective measure of ’concordant procedure’ - a preventative action under which companies seek to reach agreement with creditors. ...
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NewsVirgin Australia bondholders challenge sale to Bain Capital
Two parties representing Virgin Australia bondholders have challenged the airline’s sale to Bain Capital with the intention of making an alternative proposal. In an application to the Australian Takeovers Panel, Singapore-based fund manager Broad Peak Investment Advisers (Broad Peak) and Hong Kong’s Tor Investment Management submit that “certain circumstances regarding ...
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NewsPandemic pushes AirAsia into the red
AirAsia Group slipped to a MYR953 million ($223 million) net loss in the first quarter, down from a MYR102 million profit in the same three-month period of 2019, as Covid-19 caused demand to plummet.
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NewsJapan’s ANA and JAL secure $1.6bn in export-credit guarantees
The Japan Bank for International Cooperation is providing guarantees totalling Y174 billion ($1.6 billion) for aircraft-import loans to ANA Holdings and Japan Airlines. The export-credit agency on 9 June signed an agreement with private financial institutions to provide a Y88.4 billion guarantee against the principal and interest of their loans ...
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NewsAir France to shed over 7,000 jobs as part of €7 billion bail-out
Air France will shed almost 7,600 jobs over the next three years in an accelerated restructuring implemented in parallel with €7 billion ($7.9 billion) worth of government-backed loans.
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NewsEU approves Latvian government’s €250 million aid for Air Baltic
Air Baltic’s €250 million ($281 million) government bail-out, taking the form of an equity investment, has received the green light from the European Commission.
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NewsHelvetic pushes back seven E2 deliveries to 2021
Swiss regional carrier Helvetic Airways has deferred delivery of seven Embraer 190-E2s that were due to join its fleet this year.
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NewsUK to lift quarantine restrictions for more than 50 countries
Travellers arriving in England from more than 50 countries will no longer be required to self-isolate for 14 days from 10 July, the UK government has confirmed.
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NewsJeju Air may abandon Eastar Jet acquisition: report
South Korea’s Jeju Air could scrap plans to acquire a majority stake in compatriot low-cost carrier Eastar Jet. Citing difficulties in ongoing discussions, a Jeju official was quoted as saying the carrier will consider abandoning the deal within 10 business days, Reuters reported on 2 July. On 29 June, Eastar ...
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NewsBritish Airways outlines return of more long-haul services
British Airways has outlined plans to restart services to a raft of destinations in July, including some long-haul routes.
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NewsQatar Airways to operate two-thirds of pre-Covid network in July
Boston, Toronto and Venice are among 18 more destinations being reinstated by Qatar Airways in July as it seeks to rebuild its network to include 65 points by the mid-month.
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NewsThai Airways names new acting president
Thai Airways International has named Chansin Treenuchagron as acting president, replacing Chakkrit Parapuntakul. His appointment takes effect on 2 July, says Thai in a 1 July stock-exchange disclosure. Source: Shutterstock Thai Airways fleet at Bangkok airport May 2020 Treenuchagron joined the carrier on 4 June as an ...
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NewsAeromexico files for bankruptcy
Grupo Aeromexico, the parent company of Mexican flag carrier Aeromexico, has filed for Chapter 11 bankruptcy protection in the US after the coronavirus pandemic decimated its business.
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NewsDespite almost certain job cuts, airlines sell vision of brighter days ahead
US airline human resources executives forecast short-term pain for aviation employees but must remain upbeat that their industry will find a way out of its current slump in order to attract candidates back to fulfilling careers when the coronavirus is history. For many of them, it’s a tough sell.
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NewsYet again, New Delhi extends Air India sale deadline
Bids for state-owned Air India were meant to close today, but the government has extended the deadline for a further two months. In a seventh revision for expressions of interest to buy Air India, including its 100% stake in Air India Express and 50% stake in Air India SATS Airport ...