All Strategy articles – Page 183
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Airline BusinessConsolidation and record profits give US carriers some coronavirus defence
Industry consolidation and years of profits have left US airlines more prepared than ever to weather the falloff in demand created by the coronavirus outbreak, say industry analysts.
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NewsDelta to ground 300 aircraft and cut all flights to mainland Europe
Delta Air Lines has told employees that it is grounding 300 aircraft, representing 30% of its total aircraft fleet, and cutting all flights to mainland Europe as the coronavirus cripples travel and grips the world.
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NewsNorwegian seeks urgent government support
Norwegian is asking the government in Oslo for an immediate bailout as it struggles to cope with the coronavirus outbreak that is decimating travel demand.
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NewsAir France-KLM draws down €1.1bn credit facility
Air France-KLM has withdrawn the full €1.1 billion ($1.2 billion) available from its revolving credit facility as it looks to shore up cash reserves in the face of the coronavirus outbreak. The funds are renewable at the group’s request for one-, three- or six-month periods until 6 November 2022, giving ...
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NewsNorwegian seeks to funnel US passengers through London
Scandinavian budget carrier Norwegian is attempting to adapt to the transatlantic travel ban by routing customers through its UK base at London Gatwick. But it is unclear how effective this strategy will be given the extent of the US government’s restrictions. Norwegian says its aim is to re-route “as many ...
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Airline BusinessEl Al chief Gonen Usishkin grapples with unique challenges
Speaking before the scale of the coronavirus impact became clear, El Al chief executive Gonen Usishkin explains how the Israeli flag carrier handles its unique operating environment
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NewsIndustrial dispute notice heaps pressure on El Al
Israeli flag-carrier El Al is facing industrial action from its personnel towards the end of this month, heaping pressure on the airline as it battles to deal with the coronavirus impact. The airline says it received, on 12 March, formal notification of a labour dispute and possible strike from 27 ...
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NewsFragile Fastjet aims for Zimbabwe carrier sale in April
African operator Fastjet Group expects to meet all preconditions, by the end of March, for divesting its Zimbabwean division and complete the transaction in April. It says participants of an investor consortium led by Solenta Aviation Holdings remain “committed” to the acquisition of Fastjet Zimbabwe under previously-agreed terms. Fastjet Group ...
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NewsVirgin Australia cuts flights and suspends earnings guidance
Virgin Australia, which describes itself as a “[predominantly] domestic airline”, has made further cuts to its international network. It now expects to reduce international capacity by 8% instead of 4.8% in the second half of 2020, and 10.3% in the first half of 2021. Over the same period, group capacity ...
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NewsLATAM slashes international flights by 30%
LATAM Airlines Group is cutting its international flights by 30% for the months of April and May, as countries close borders to slow the spread of the coronavirus outbreak. As a result of lower demand and government restrictions resulting from the pandemic, the airline group is reducing flights from South ...
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NewsCanada’s Transat evaluates its options as it weathers coronavirus
Canada’s Transat AT, the parent company of leisure carrier Air Transat says it is evaluating all options as it grapples with the effects of the coronavirus on its business.
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AnalysisEurope’s airlines brace for survival battle
The shutdown of transatlantic markets to European airlines is plunging the continent’s airlines into crisis and could threaten a wave of bankruptcies across the sector, analysts warn.
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NewsIATA spells out financial danger for airline industry of travel bans
IATA has warned governments must be ready to provide support to counter the impact of travel bans implemented to counter the coronavirus outbreak, warning measures such as the ban imposed by the USA were not included in its recent worse-case scenario for the financial hit to the industry.
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NewsAzul sees drop in international demand, but domestic flights less impacted
Brazilian carrier Azul has cut its international flight network as a result of lower demand due to the global coronavirus crisis, and is closely monitoring its liquidity and expenditures as the crisis drags on.
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PodcastAirline Business podcast: Airlines reel from coronavirus impact, plus latest on Boeing 737 Max
Join executive editor Graham Dunn and managing editor Lewis Harper as they discuss the spiralling impact of the coronavirus, which has been described by IATA as a “crisis” for the airline industry. Graham and Lewis consider markets across the world, including Italy’s, which has joined those in Asia and elsewhere ...
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NewsLos Angeles teacher sues Delta for fuel dump
A teacher at a Los Angeles area high school has sued Delta Air Lines following a fuel dump from a Delta jet experiencing engine troubles after departing Los Angeles International airport.
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NewsUK chancellor sets ‘spring 2020’ timing for APD reform consultation
Consultation on a review into the UK air passenger duty levels is now expected in “spring 2020” the country’s new chancellor Rishi Sunak disclosed today in delivering his first budget.
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NewsCathay Pacific in talks to defer aircraft deliveries
Cathay Pacific is in talks with Boeing and Airbus over possible deferral of aircraft deliveries this year, as the coronavirus outbreak leaves an impact on its fiscal performance. At a briefing after Cathay released its annual results for 2019, chief operations and services delivery officer Greg Hughes confirmed that discussions ...
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NewsIndonesia AirAsia parent issues first-quarter profit warning
The parent company of Indonesia AirAsia (IAA) has issued a profit warning for the current quarter, attributing it to new lease accounting standards and projected declines in ticket sales due to the coronavirus outbreak. In an Indonesia Stock Exchange disclosure, AirAsia Indonesia discloses that implementing the new standard will result ...
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NewsCathay flags ‘substantial loss’ for first half of 2020
The ongoing coronavirus outbreak is taking its toll on the Cathay Pacific group’s financial performance, with the group warning that it expects to incur a “substantial loss” for the first-half of this year. Cathay adds in its full-year financial results that the outbreak, which first originated in China late 2019, ...