All Strategy articles – Page 174
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NewsAir Baltic joins calls for sector-wide support
Air Baltic is urging government assistance for the airline industry amid the coronavirus crisis. As the Latvian carrier reported a net loss of €7.7 million ($8.2 million) for 2019, chief executive Martin Gauss noted that, given the sector’s vulnerability to the outbreak, “state support for airlines in general might be ...
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NewsRwandAir to suspend operations for 30 days
RwandAir will temporarily halt all services from 21 March to 21 April, as its looks to help prevent the spread of coronavirus. The African carrier will operate its last commercial passenger flight from Rwandan capital Kigali to London Gatwick on 20 March at 01:00. The return service will depart from ...
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News‘This is really about industry survival’: EasyJet chief
EasyJet chief executive Johan Lundgren has warned that the aviation industry is facing its worst crisis in history – one that is threatening many carriers with bankruptcy. “This is really about industry survival,” he told ITV’s Robert Peston in a television interview on 18 March. “What we have been asking ...
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NewsSenate aims to provide $58b in aid to airlines
The US government has offered its airline industry a package worth $58 billion to assist in supporting the sector as it manages through the coronavirus pandemic that has forced many to reduce schedules, ground aircraft and furlough staff.
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NewsCanada’s Sunwing to suspend flights and layoff pilots: union
Canadian leisure carrier Sunwing Airlines will suspend operations on 24 March and layoff all its roughly 470 pilots on 8 April, according the union representing Sunwing’s pilots.
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NewsCompass Airlines to shut down operations
Compass Airlines, which flies regional routes for American Airlines as American Eagle, will shut down completely on 7 April, the second US regional carrier to fall victim to the coronavirus.
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NewsSwiss ponders full operational stop amid ‘draconian’ restrictions
Swiss International Air Lines is considering a full suspension of flights, following the lead of other carriers within Lufthansa Group, which as a whole has shed 95% of its planned capacity.
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NewsIATA blasts new EU passenger rights guidance during pandemic
Airline passengers whose flights are cancelled as a result of the coronavirus outbreak will be able to choose between having the cost of their ticket reimbursed or rebooking on to a later flight under new European Union guidelines, a move that has prompted “dismay” at IATA.
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NewsJet2 parent pulls profits guidance as carrier suspends flights until May
Parent of UK leisure carrier Jet2 has pulled its full-year financial guidance after the operator was forced to cancel all flying until 1 May following the widespread introduction of travel restrictions across Europe.
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NewsCanada’s Porter shutters until June
Canadian regional carrier Porter Airlines says it is ceasing all operations until June, according to a notice on the airline’s website.
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NewsDOT issues final order denying antitrust immunity for Hawaiian-JAL joint venture
The US Department of Transportation has issued a final order denying a request of antitrust immunity for Hawaiian Airlines’ proposed joint venture with Japan Airlines.
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NewsRyanair may shut down all operations from 24 March
Ryanair is cutting 80% of its scheduled flights and could ground its entire fleet in response to the coronavirus.
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Airline BusinessCoronavirus crisis to bring airline profits run to abrupt halt
While IATA stopped short of issuing any fresh forecasts for the year in its latest media briefing, the airline trade association left little doubt regarding the extent to which the coronavirus crisis will drive the industry’s unprecedented run of profits to an abrupt end.
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NewsAir Malta to suspend all flights as government imposes travel ban
Air Malta is suspending operations, following a decision by the Maltese government to ban all commercial air travel to the country because of the coronavirus outbreak.
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NewsTrans States Airlines to fold in April
Trans States Airlines, which announced last month that it would be shuttering at the end of the year due to consolidation and a pilot shortage, has told its employees that it will go out of business nine months earlier, on 1 April. It could be the first US airline to fall victim to the coronavirus that has decimated the industry.
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NewsTrump administration proposing aid package that would leave US carriers ‘in good shape’
The US government is working with Congress to pass legislation that would provide financial support a broad swath of US industry, including to the country’s airlines, which have been hammered in recent days by a collapse in demand.
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NewsUS airline group details $58bn government aid request
The group, as previously reported, has asked for $50 billion in support of passenger airlines. But it also requests $8 billion for cargo carriers, and tax breaks from a fund that generated almost $16 billion in fiscal year 2018 revenue. It is receiving criticism after many airlines spent free cash flow on stock repurchases recently.
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NewsIATA warns government action needed to tackle airline liquidity crisis
Airline trade association IATA is calling for governments to urgently step in with financial support measures, warning a liquidity crisis resulting from the swathe of capacity cuts means many airlines are close to running out of cash.
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NewsLauda halts all flights until 8 April
Ryanair’s Austrian subsidiary Lauda has suspended all flights until 8 April. The Vienna-based airline has been serving more than 100 destinations across some 30 European countries and has stations in German cities Dusseldorf, Stuttgart, Spanish island Majorca, and Croatian city Zadar. Source: Lauda Cirium fleets data shows ...
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NewsCoronavirus costs Cathay HK$2 billion in February
Cathay Pacific made an unaudited loss of more than HK$2 billion ($257 million) in February, as it takes a hit from the coronavirus outbreak. Meanwhile, Singapore Airlines saw falling passenger numbers for the month, and warns of weakened travel demand in the near term.