All Strategy articles – Page 180
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NewsUnited agrees $500 million term loan with Goldman Sachs
United Airlines has agreed to borrow $500 million from Goldman Sachs Bank USA in the form of a one-year secured term loan. The Chicago-headquartered carrier will use the loan for related transaction costs, fees and expenses, and for working capital and other general corporate purposes. It has pledged some of ...
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NewsICAO welcomes government support for aviation sector
UN aviation body ICAO welcomed a statement from G20 countries to aid in the global recovery from the coronavirus pandemic, highlighting that aviation is one of the worst-hit sectors. The G20 said on 26 March it will do “whatever it takes” to overcome the pandemic, and will continue to “conduct ...
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NewsSingapore Airlines boosts liquidity amid coronavirus crisis
Singapore Airlines is planning to issue S$5.3 billion ($3.7 billion) in equity and S$3.5 billion in 10-year mandatory convertible bonds in order to raise liquidity as demand for air travel slumps globally. The company will raise an initial tranche of S$3.5 billion via the convertible bond, with the option to ...
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Airline BusinessHow Etihad aims to manage through coronavirus crisis grounding
Etihad Aviation Group chief executive Tony Douglas believes the business’s ongoing restructuring programme has given the Gulf carrier the agility to better manage its operation through the coronavirus crisis and to position it for when air travel markets reopen.
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NewsSouth African Airways acting chief takes early retirement
South African Airways acting chief executive Zuks Ramasia will retire on 14 April, less than a year after assuming the position.
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NewsUS Senate bill would offer $78b in aid to airlines, workers, contractors
A government aid package currently making its way through the US Congress calls for loans and payroll support for airlines and aviation industry workers of $78 billion altogether, but links the assistance to strict conditions regarding executive pay, stock buybacks, dividends and requirements to maintain employee levels through the third quarter of the year.
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NewsEtihad to deploy 787 passenger aircraft on cargo network
Gulf carrier Etihad Airways is to redeploy some of its Boeing 787-10s as passenger freighters following the temporary suspension of scheduled services in the United Arab Emirates, as it seeks to meet a related spike in air cargo demand.
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NewsCargo carriers see surging freighter demand as bellyhold capacity falls
IATA has highlighted “record levels” of freighter demand amid a fall in passenger flights that has reduced global air cargo capacity by around 30%.
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NewsCebu Pacific feels pinch from Philippines quarantine
Cebu Pacific says the month-long “community quarantine” imposed on metropolitan Manila and the main Luzon island group recently will free up 90% of its total seat capacity, even as it maintains services from its hubs outside of Manila and the region. The 90% capacity figure is based on the suspension ...
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NewsQantas Group secures $625 million against 787-9s
The Qantas Group has secured A$1.05 billion ($625 million) in a new round of debt funding to “strengthen its position as it manages through the coronavirus outbreak”. The 10-year loan bears 2.75% interest and is securitised against seven Boeing 787-9s. The jets are part of its fleet of 11 787-9s, ...
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NewsWestJet cuts 50% of staff
WestJet’s chief executive Ed Sims says the airline has eliminated half of its workforce as it tries to preserve itself while the coronavirus continues to ravage the air transport industry.
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NewsAirline passenger revenues to fall $252 billion in 2020 amid coronavirus: IATA
IATA now expects the coronavirus outbreak to reduce airline revenues from passenger operations by $252 billion in 2020 – more than double its earlier worst-case-scenario estimate.
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NewsNorwegian receives first financing under sector’s rescue package
Low-cost carrier Norwegian has obtained the first 10% of the funding that Norway’s government is guaranteeing for it under a rescue plan for the national airline industry. On 19 March, Norway announced an NKr6 billion ($542 million) bailout for the sector, of which half would go to Norwegian. The state ...
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Airline BusinessWizz warns full grounding a ‘distinct possibility’ as low-cost carriers pare back
Central European budget carrier Wizz Air has warned the grounding of its full fleet remains “a distinct possibility” as it has now reduced its operations to around 15% of its planned capacity.
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NewsUAE halts all passenger flights for two weeks
All inbound, outbound and transit passenger flights to and from the United Arab Emirates – home to one of the world’s busiest hubs – are to be suspended for two weeks.
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NewsAirAsia reinstates Fernandes, Meranun citing independent probe
AirAsia Group reinstated Kamarudin Meranun and Tony Fernandes to their previously vacated positions on 20 March, after the low-cost carrier and its long-haul sister AirAsia X completed an independent probe into Airbus bribery allegations. The was conducted following an investigation into Airbus over corruption allegations. UK court documents list five ...
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NewsAirline CEOs promise no furloughs if aid flows quickly
US airline chief executives have told Congress that government aid must flow quickly to avoid mass layoffs and furloughs as a result of the coronavirus pandemic, while promising to limit executive pay and stop share buyback programs.
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Airline BusinessWeek of 16 March in review: North American carriers reel from coronavirus fallout
The aviation and aerospace industry in North America experienced the most dramatic week since the days and weeks following the terrorist attacks of 11 September 2001.
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NewsAir Canada temporarily lays off 5,100 cabin crew: union
Air Canada is reportedly temporarily laying off 5,100 cabin crew as the coronavirus hits its business, forcing it to ground aircraft and take significant capacity out of its network.
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NewsEuropean Council approves plan to waive slot rule until October
The European Council has approved a plan to suspend rules that force airlines to continue operating 80% of flights at certain EU airports in order to maintain slots.