Strategy – Page 117
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NewsTransat warns of ability to remain ‘going concern’, eyes Air Canada lifeline
Transat AT, owner of Canadian leisure carrier Air Transat, has warned investors about its ability to remain in business “as a going concern” if a planned acquisition by Air Canada falls through.
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NewsVirgin Atlantic cancels launch of Delhi and Mumbai flights from Manchester
Virgin Atlantic has cancelled the launch of services between Manchester airport and the Indian cities of Delhi and Mumbai. “We are continuously reviewing our flying programme and in response to the ongoing impact of Covid-19 we have made the difficult decision to withdraw our Manchester to Delhi and Mumbai services, ...
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NewsPandemic pushes TUI to €3 billion full-year loss
European travel operator TUI Group has reported a full-year EBIT loss of €3 billion ($3.6 billion), but is confident that 2021 will be a “transition year” for tourism with pre-pandemic levels expected to return in 2022.
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NewsBA CityFlyer launches 11 routes from Southampton
British Airways regional subsidiary BA CityFlyer is launching a flurry of new summer season routes from the UK’s Southampton airport to leisure destinations across Europe.
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NewsVirgin Australia orders 25 Boeing 737 Max 10s, cancels previous deal
Virgin Australia, which most recently exited administration under new owners, has placed a new order for 25 Boeing 737 Max 10s, after cancelling its existing commitments for the type.
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NewsNorwegian files for formal restructuring in Norway
Cash-strapped low-cost carrier Norwegian has filed for financial restructuring under Norwegian law in parallel to a similar process already under way in Ireland. Norwegian initiated a formal financial restructuring for its Norwegian Air International subsidiary and aircraft leasing unit Arctic Aviation Assets, under an Irish examinership process, on 18 November. ...
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NewsLiquidity still US carriers’ focus despite vaccine news
US airline executives’ attempts during their third-quarter earnings calls to shift the narrative from liquidity levels to visions of a cash-positive recovery had an air of wishful thinking. Such visions have since become slightly more grounded in reality: Pfizer and Moderna in November announced efficacy rates above 90% for their ...
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NewsCargo recovery continues amid capacity crunch: IATA
Air freight demand continued its recovery in October, IATA figures show, as global cargo tonne-kilometres expanded 4.1% month on month. As a result, global demand as measured by CTKs was just 6.2% below the same month last year, after a 7.8% drop in September. Source: KLM Capacity, ...
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NewsGol makes second attempt to merge with Smiles loyalty programme
Brazilian low-cost carrier Gol has for the second time proposed merging its Smiles loyalty programme with the airline.
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NewsSIA deepens co-operation with Indian joint venture Vistara
Singapore Airlines and its Indian joint venture Vistara have inked a commercial cooperation framework agreement, widening its existing areas of partnership.
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NewsUS airlines hike Q4 cash burn estimates
US airlines are warning that exploding coronavirus case counts across the country have sparked a new wave of cancellations which will negatively affect their business in the current quarter, including expectations of higher-than-previously-forecasted cash burn.
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NewsRyanair cements Italian presence with Venice Treviso base
Low-cost carrier Ryanair is to open a base at Venice Treviso airport in March, the airline’s 15th in Italy. Ryanair will base two aircraft there from 30 March, adding 18 new routes from the airport in the process. That will take to 45 the number of services it will operate ...
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NewsAlliance Aviation expects better H2 earnings on charter ops
Alliance Aviation expects to report a A$26 million ($19 million) underlying profit before tax for the July to December period, attributing it to robust contract and charter operations in the resource sector. This compares with A$15.5 million in the year-ago period, while approximately A$7.5 million in government grants under the ...
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NewsSouthwest warns 6,828 employees of impending job losses
Southwest Airlines has warned 6,828 employees that their jobs may be at risk, the first large-scale involuntary furlough scheme at the company since the beginning of the coronavirus crisis.
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NewsRyanair follow-on Boeing 737 Max order to drive return to growth
Ryanair expects to have around 80 Boeing 737 Max 8-200s in its fleet for summer 2022, enabling the carrier to return to growth following the heavy drop in traffic resulting from the global pandemic. The European low-cost carrier today placed another eye-catching Boeing order, becoming the first airline to sign ...
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NewsDelta introduces contact tracing for international travellers
Delta Air Lines is the first major US carrier to introduce contact tracing for passengers arriving from overseas.
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NewsRyanair orders 75 more Boeing 737 Max jets
European low-cost carrier Ryanair has ordered 75 more Boeing 737 Max aircraft, lifting its firm commitments to the type to 210.
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NewsWill crisis prompt airlines to bite the bullet on what they charge for?
As Lufthansa ends free meals on short-haul flights and EasyJet cuts cabin bag allowance, will more airlines follow in trimming what passengers get for their basic fare?
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NewsQantas flags A$11 billion full-year revenue hit amid optimism about recovery
Qantas Group anticipates an A$11 billion ($8.1 billion) revenue drop for the year ending June 2021, but remains optimistic about recovery prospects amid a “vast improvement in trading conditions” in recent months.
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NewsTUI secures third government bailout since April
TUI is set to receive a €1.8 billion ($2.2 billion) financial support package from German government fund WSF, largest shareholder Unifirm and a consortium of banks, aimed at securing the tourist group’s operation amid the coronavirus crisis.