All Strategy articles – Page 169
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Airline BusinessAir freight market goes into overdrive
While passenger airlines have heavily reduced their services over recent weeks, the air cargo market has gone into overdrive as a result of the coronavirus pandemic.
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NewsUnions urge government to offer Virgin Australia support
Unions are calling on the government to help support Virgin Australia after the airline entered voluntary administration today. The country’s second-largest carrier has appointed Deloitte to help it recapitalise and make it through the coronavirus crisis after talks with various parties, including the government, to secure financial support failed to ...
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NewsCanberra wants ‘market-led’ solution for Virgin Australia recap
Canberra does not want to bail out Virgin Australia and wants to see a “market-led” solution to the airline’s recapitalisation efforts. Australia’s treasurer Josh Frydenberg told a press conference today: “Virgin Australia is a very good airline, performing a very important role and this is a difficult day for its ...
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NewsChinese airline market faces consolidation: HSBC
Consolidation among Chinese carriers appears likely, given the “unprecedented challenges” that the global airline industry is facing. A HSBC Global Research report into the Chinese airline industry says it does not “rule out the possibility of further consolidation”, adding that the three largest Chinese carriers — Air China, China ...
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NewsUnited reports preliminary $2.1 billion first-quarter loss
United Airlines has reported a preliminary pre-tax loss of $2.1 billion for the first quarter of 2020 and a $1 billion pre-tax loss on an adjusted basis.
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NewsFour of Norwegian’s crew subsidiaries file for bankruptcy
Scandinavian budget carrier Norwegian has confirmed that four subsidiaries which employ more than 4,000 pilots and cabin crew members in Denmark and Sweden have filed for bankruptcy.
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NewsVirgin Atlantic needs state support to survive: Branson
Virgin Atlantic needs government support to survive the coronavirus crisis, the airline’s founder warned today.
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NewsVirgin Australia bailout intensifies local war of words
Qantas does not conceal its distaste for any state support tailored to its rival Virgin Australia, which recently requested a A$1.4 billion ($890 million) bailout from the federal government to ride out the coronavirus-induced downturn. Alan Joyce, Qantas’s chief executive, said in a television interview on 20 March that it ...
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NewsWestJet lays off 1,700 workers amid wage subsidy
WestJet will lay off 1,700 pilots across its mainline carrier, regional subsidiary Encore and low-cost carrier Swoop, while keeping them on payrolls through the duration of Canada’s wage subsidy that ends in June. The Calgary-based airline tells Cirium that the layoffs will be staggered beginning on both 1 May and ...
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NewsLATAM extends 95% capacity cuts through May
LATAM Airlines has extended through May its 95% reduction in planned capacity, citing continued travel restrictions and a lack of demand because of the coronavirus pandemic.
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NewsPorter takes wage subsidies as operations remain halted
Porter Airlines will receive funds from Canada’s wage subsidy programme, allowing the carrier to pay many of the hundreds of workers it furloughed in March after grounding its fleet and suspending all operations until June.
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Airline BusinessHow WestJet reacted quickly to virus – and faced up to tough decisions
When WestJet chief executive Ed Sims drives past the Calgary International airport to his office every morning, he sees a row of parked aircraft, grounded by the coronavirus pandemic, and wonders what fresh hell awaits.
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NewsCityJet secures breathing space by entering examinership
An Irish court has appointed an interim examiner at regional wet-lease specialist CityJet as the carrier seeks protection during the coronavirus crisis.
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Airline BusinessIATA appeals to Latin American governments for coordination
Airline industry association IATA is calling on Latin American governments to harmonise plans to eventually restart air service and reopen borders, saying an uncoordinated effort will hinder the sector’s recovery.
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Airline BusinessUS carriers tap relief funding as crisis deepens
North American airline traffic is expected be down more than a third compared with the 2019 level, IATA’s projections for the impact of the coronavirus crisis on the sector show.
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NewsFAA extends slot relief at US airports until October
The FAA says it will extend slot relief at seven major US airports through the summer travel season so that airlines will not be penalized as a result of reduced flying schedules caused by the coronavirus pandemic.
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NewsEasyJet secures cash for potential nine-month fleet grounding
EasyJet has expressed confidence it now has enough cash to survive a nine-month grounding of its fleet after securing additional funding.
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NewsStobart Group ponders move to buy back regional operator
Stobart Group is considering buying back Irish regional operator Stobart Air and lessor Propius from the administrators of Flybe parent, Connect Airways.
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Airline BusinessEtihad and Emirates prepare ground for service return
Etihad’s announcement that it aims to begin restoring its passenger network from the start of May and Emirates’ initial move to test passengers for coronavirus ahead of flights show the Gulf carriers readying for a return to operations.
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NewsConcerns cargo belly-space shortage may persist after lockdowns lifted
The air freight sector is struggling to find aircraft to move medical equipment and other urgent supplies – often from Asia to the West – as a result of the coronavirus crisis.