Strategy – Page 115
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NewsThai Airways gets extra month to submit restructuring plan
Thai Airways International has been granted a one-month extension of the deadline to submit its rehabilitation plan which will outline how its business will be restructured.
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NewsKorean Air moves closer towards Asiana acquisition
Korean Air has gained approval from its shareholders to amend its articles of association to help finance its planned acquisition of compatriot Asiana Airlines, moving the carrier a step closer to taking over its rival.
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NewsVietnam Airlines to raise $350m equity from shareholders
Vietnam Airlines plans to issue D8 trillion ($350 million) worth of ordinary shares for sale to existing shareholders to supplement working capital and pay down debt.
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NewsAmerican, Alaska ban emotional support animals inside the cabin
American Airlines and Alaska Airlines are shutting down the practice of bringing so-called “emotional support animals” (ESAs) into aircraft cabins, after the US Department of Transportation (DOT) last month gave passenger carriers the right to ban them.
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NewsEC clears Germany to provide TUI with up to €1.25 billion
Germany’s plan to contribute up to €1.25 billion ($1.53 billion) to TUI’s recapitalisation has been approved by the European Commission, which says the Hannover-headquartered group is facing “a risk of default and insolvency”. The state recapitalisation includes a €420 million silent participation, convertible into shares, by German government fund WSF, ...
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NewsAir India sale delayed as government scraps shortlist deadline
India’s government has hit another stumbling block in its years-in-the-making sale of flag carrier Air India. The timeline for the sale is now uncertain after the government decided against informing bidders today as to whether they had been shortlisted. Source: Boeing It had previously stated that it ...
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NewsQantas eyes international network restart in July, amid government criticism
Qantas is looking to restart international flights from July, in a move that has earned the rebuke of the Australian government.
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NewsAsiana appoints new chief in ‘significant’ reshuffle ahead of acquisition
Asiana Airlines has reshuffled its senior leadership team in a move to “revitalise” the carrier, which will see a new chief executive appointed and seven positions cut.
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NewsChina Airlines closes chapter on 747 passenger operations
China Airlines will phase out the last of its passenger Boeing 747-400s by early 2021, becoming the latest carrier in the region to retire the type, which it has operated for more than 30 years.
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NewsNordica to buy out LOT stake in regional unit Xfly
Estonian carrier Nordica has reached agreement with LOT Polish Airlines to acquire its 49% share in Xfly, making it the sole owner of the regional capacity provider.
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NewsWizz Air Abu Dhabi confirms Athens for first flight
Wizz Air’s new Abu Dhabi unit will operate its first flight on 15 January, to Greek capital Athens, part of an initial network of destinations across the Mediterranean and Caucasus regions. Services to another Greek city, Thessaloniki, will begin on 4 February, to be followed in the coming months by ...
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NewsUnited calls on US presidential transition team to restore air travel
United Airlines has appealed to advisors of US President-elect Joe Biden to set up a task force that would re-establish air travel as the global coronavirus pandemic leaves carriers to flounder amid continued depressed demand.
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NewsSecond Alitalia Covid package cleared as earlier state aid probes continue
European competition regulators have cleared a second tranche of Italian aid to national carrier Alitaila as compensation for disruption to travel caused by the pandemic, though its existing state aid probes into Italy’s earlier support for the carrier continue.
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NewsAirAsia agrees to sell 32.7% of Indian carrier to Tata
AirAsia has agreed terms on the sale of a 32.7% stake in its joint venture carrier AirAsia India to the carrier’s existing co-shareholder Tata Sons
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NewsRyanair restricts voting rights to meet EU ownership after Brexit
Irish low-cost carrier Ryanair is implementing voting-right restrictions on all shares in the company owned by non-European Union nationals from 1 January 2021 to ensure the airline complies with ownership rules once the UK leaves the EU. The measures date back to resolutions put in place in March 2019 to ...
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NewsSouthwest rescinds furlough warning notices
Southwest Airlines is rescinding its warnings of imminent furloughs to almost 7,000 employees after US president Donald Trump signed a government funding bill that sets aside a second tranche of coronavirus pandemic-relief funds for US airline workers.
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NewsTrump signs law providing pandemic aid to US airlines
US president Donald Trump has signed a US government funding bill that sets aside a second tranche of pandemic-relief funds for US airline workers, according to a Trump administration spokesperson.
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NewsLufthansa agrees savings deal with pilots until March 2022
Lufthansa has struck a cost savings deal with its pilots which will avert layoffs until March 2022.
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NewsGreece cleared for €120m state contribution to Aegean
European regulators have approved Greek plans to contribute €120 million ($146 million) as part of recapitalisation plans for Aegean Airlines. Greece notified the European Commission of plans for an aid measure to compensate Aegean for damage suffered from travel restrictions imposed between 23 March 2020 to 30 June 2020. The ...
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NewsAlitalia replacement ITA plans 2021 start with 52 aircraft: reports
The new Italian airline being established to replace Alitalia has outlined plans to commence operations in April 2021 with an operation about half the size of its predecessor’s, according to media reports in Italy.