Strategy – Page 121
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NewsChinese carriers poised to recapture international travel market share: HSBC report
With many of their foreign competitors in the doldrums amid a pandemic-led downturn, China’s three largest carriers — having already experienced a steady domestic recovery — are well-placed to recapture market share in the international air travel market.
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NewsSpiceJet Q2 losses narrow on cargo revenue growth
A steady increase in cargo revenue helped Indian low-cost carrier SpiceJet narrow its quarterly operating loss, even as passenger travel demand remains in the doldrums amid the coronavirus pandemic.
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NewsLufthansa reaches savings deal with ground staff for 2021
Lufthansa has reached a preliminary €200 million ($237 million) savings deal with the Verdi union which provides employment protection for ground staff next year in return for concessions.
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NewsSouth African start-up Lift set to launch in December
South African start-up carrier Lift is aiming to launch domestic services in December with flights from Johannesburg to Cape Town and George.
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NewsCovid testing at airports ‘a waste of time’: Ryanair chief
Pre-flight testing for coronavirus only makes sense if it is delivered before passengers arrive at airports, in the view of Ryanair group chief executive Michael O’Leary.
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NewsAir Arabia posts third-quarter loss as crisis impact continues
Air Arabia made a net loss of Dh44 million ($12 million) on revenues down 80% in the third quarter, a period in which the low-cost carrier was able to resume services after the initial pandemic lockdown. The group carried 665,500 passengers in the three months to end-September across its five ...
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NewsRevenue collapse widens Cebu Pacific third-quarter loss
Cebu Pacific continued its loss-making streak for the third quarter this year, as it widened its operating losses on the back of a steep revenue decline. For the quarter ended 30 September, the Philippine low-cost carrier and its subsidiaries reported an operating loss of Ps6.7 billion ($139 million), reversing ...
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NewsLufthansa lifts liquidity with €600m bond issue
Lufthansa has bolstered its liquidity by placing a €600 million ($712 million) convertible bond. The German airline group says the transaction was more than six times oversubscribed. The bonds, which have an annual coupon of 2%, are redeemable in November 2025. Source: Lufthansa Lufthansa Group executive board ...
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NewsUnion conflict erupts at TUIfly over restructuring plan
Management at German leisure carrier TUIfly and pilot union Vereinigung Cockpit are blaming each other for a breakdown in talks about restructuring measures amid the air transport crisis.
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NewsWizz signs ‘indefinite’ contract with chief Varadi
Wizz Air chief executive Jozsef Varadi has agreed to lead the central European budget operator indefinitely. In a 10 November stock-exchange notice, Wizz says it has agreed a new service contract with Varadi. Source: BillyPix “The contract term is indefinite and the terms of his service agreement ...
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NewsVaccines mean summer could see 80% of 2019 demand: Ryanair chief
Intra-European air travel is likely to see “some degree of normality” in summer 2021 as a result of positive vaccine developments, according to Ryanair group chief executive Michael O’Leary.
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NewsNorwegian flags ‘significant’ bankruptcy risk amid heavy losses
Scandinavian budget carrier Norwegian has today warned that it faces a “significant risk” of insolvency, as it revealed a third-quarter net loss of NKr980 million ($108 million). Still reeling from the Norwegian government’s 9 November announcement that it would not provide any more financial support to the struggling airline, the ...
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NewsAir Canada reports Q3 loss, defers aircraft deliveries
Air Canada reported another quarterly loss as it continues to shrink its fleet and defer aircraft deliveries amid a slow recovery hindered by ongoing strict travel restrictions in the country.
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NewsAviation will need 27,000 new pilots in 2021 as shortage continues despite downturn: CAE
Despite an industry slump that has seen mass pilot layoffs, the global civil aviation industry will still require an estimated 27,000 new pilots by the end of 2021, or 264,000 over the coming decade.
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NewsMinicucci to succeed Tilden as Alaska chief executive next year
Alaska Air Group chief executive Brad Tilden is to step down from the role on 31 March 2021 to be succeeded by Alaska Airlines’ president and long-time company veteran Ben Minicucci.
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NewsSouth Africa's Comair to restart with 15 aircraft on 1 December
South African carrier Comair will initially operate 15 aircraft across its two airline brands when it restarts flights from 1 December.
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NewsNorwegian warns of ‘uncertain future’ after government rejects support request
Norwegian is facing “a very uncertain future” after Norway rejected requests from the airline for further financial support. Oslo notes that in respone to the coronavirus crisis the state’s extraordinary contribution to aviation in Norway so far in 2020 amounts to NKr13 billion ($1.4 billion). Source: Norwegian ...
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NewsGaruda sees quarterly losses narrow on revenue uptick
Garuda Indonesia trimmed its quarterly losses — led by a modest uptick in revenue — as it saw some degree of domestic recovery amid the coronavirus crisis. Releasing its results for the quarter ended 30 September, the Indonesian flag carrier posted an operating loss of $346 million, reversing the $171 ...
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NewsCanada considers financial aid for aviation industry
The government of Canada has said it is considering financial aid for that country’s aerospace industry, as the coronavirus crisis drags on.
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NewsSIA converts two 777-300ERs into temporary freighters
Singapore Airlines has modified two Boeing 777-300ERs to carry cargo in the passenger cabins, tapping into freight as an alternative revenue stream as it copes with depressed passenger demand from the coronavirus crisis. The carrier states that the first of the two converted aircraft took off on 5 November, ...