All Strategy articles – Page 171
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NewsIATA figures show collapse of air-freight demand in April
Global air freight demand was down nearly 28% in April compared with a year earlier, according to IATA – the sharpest fall ever recorded.
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Airline BusinessCoronavirus pushes fragile African carriers closer to the edge
While no region has escaped the impact of the coronavirus grounding, arguably its most immediate damage has been felt among Africa’s already struggling carriers.
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Airline BusinessEuropean carriers aim to cut their way through the crisis
While the short-term focus among European carriers has been on finding ways to survive the crisis and resume services, airlines have been quick to signal sizeable cuts to their operations with few expecting traffic to return to previous peaks before 2023
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NewsBain Capital and Cyrus Capital on Virgin Australia shortlist
Bain Capital and Cyrus Capital Partners are on the final shortlist of potential buyers for Virgin Australia. “The next stage in this sale process begins today,” administrator Deloitte said on 2 June. Deloitte will facilitate engagement between the preferred bidders and business stakeholders in the coming weeks, ...
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NewsEmirates concludes that job cuts are required as coronavirus takes toll
Emirates plans to cut an unspecified number of jobs as the coronavirus pandemic takes its toll on the Gulf carrier. The Dubai-based airline said on 31 May that it has come to the conclusion that “we unfortunately have to say goodbye to a few of the wonderful people that worked ...
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NewsNorway to extend airline loan guarantee scheme
Norway’s government plans to extend its state loan guarantee scheme for airlines until the end of October saying the crisis is lasting longer than envisaged when the programme was intially launched.
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NewsANA Holdings undertakes $3.3 billion debt financing
All Nippon Airways’ parent company has decided to undertake a fresh round of debt financing from the Development Bank of Japan, amounting to Y350 billion ($3.3 billion). The agreement is subject to a 29 June borrowing deadline and the debt financing will be repaid over the long term, “determined by ...
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NewsChallenges ahead in Thai Airways business rehabilitation
The 60-year-old Thai Airways International, now in court-supervised business rehabilitation, carries the burden of legacy issues, a history of failed restructuring and transformations, and being ill-equipped to tackle industry challenges.
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NewsNorwegian clings to restructuring hopes as Q1 losses widen
Norwegian’s first-quarter losses have widened significantly to NKr3.28 billion ($331 million) and the company remains in “hibernation mode”, in the hope that its recent financial restructuring and state-aid lifeline will enable it to have a future.
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NewsEasyJet to axe up to 30% of jobs as it cuts fleet
EasyJet is to begin consultations on proposals to cut staff levels by up to 30% as it expects to reduce its fleet by 51 through a mix of deferrals and returning leased aircraft by the end of 2021. In a trading update released today the UK budget carrier says it ...
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NewsThai Airways appoints planners for business rehabilitation
Thai Airways International has appointed five people, including one of its former presidents, to jointly hold the position of plan preparer during its business rehabilitation process. The carrier’s chairman Chaiyapruk Didyasarin and acting president Chakkrit Parapuntakul have been appointed, along with three newly appointed board members: former president Piyasvasti Amranand, ...
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NewsLessor Avation pulls the plug on sale process
Avation is ending its formal sale process as the Covid-19 pandemic brings unprecedented disruption to the aviation industry that is still ongoing. The Singapore-based lessor says in a 27 May statement that over the past “several weeks”, Covid-19 has “continued to disrupt business activities, particularly air travel, on an unprecedented ...
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NewsBankruptcy is not a financial tool: American chief
American Airlines chief executive Doug Parker expects all the major US airlines to survive the current zero-revenue environment created by coronavirus pandemic, including the one he leads. Despite the many millons of dollars being burned daily by American (and by its peers), filing for bankruptcy protection is not perceived by ...
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NewsUnited reshuffles management to prepare for post-coronavirus world
United Airlines says that it is reshuffling top management roles to better prepare itself for a post-coronavirus transformation.
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NewsAmerican sees signs of travel rebound
American Airlines says it sees promising signs of a rebound in air travel after the coronavirus pandemic decimated the industry earlier this year, but warns that the bounce in demand is tenuous, and from a vanishingly low level.
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NewsKenya Airways losses widen in 2019 on higher costs
Kenya Airways pre-tax losses deepened to KSh13 billion for the year ending December 2019 despite increasing passenger levels and revenues.
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NewsAdministrators see ‘reasonable’ prospect of SAA rescue
Business rescue practitioners at South African Airways describe as “reasonable” the prospects of rescuing the struggling carrier, though stress this is dependent on the necessary funding.
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NewsLufthansa board delays state aid approval over EU conditions
Lufthansa’s supervisory board has postponed pushing ahead with approving crucial state-supported funding because of European Commission conditions attached to the package.
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NewsSAA rescuers pour cold water on plan to resume domestic flights
South African Airways’ plan to restart domestic flights in mid-June has been called into question by its rescuers, who have criticised the airline for releasing an “unvetted” public statement that created an “unfair expectation” among stakeholders.
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NewsHainan reduces shareholding in MRO arm, divests training unit
Hainan Airlnes will reduce its stake in its MRO unit and divest its training unit to other HNA Group companies as it seeks to intensify its focus on the core passenger and cargo business. Hainan will reduce its stake in MRO unit HNA Technic to about 68%, with the ...