Strategy – Page 123
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NewsSpain agrees €475m Air Europa aid package
Spain’s cabinet has agreed a €475 million ($552 million) support package for Air Europa, the first funding delivered under a wider scheme established by the government in July. The funds have been released as part of a €10 billion solvency support fund for strategic companies set aside by the Spanish ...
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NewsShift to domestic markets helps Volotea limit crisis impact on traffic
European carrier Volotea is crediting a shift of its network strategy to focus on domestic flights for a July-September traffic performance in which declines in passenger levels were kept to less than a quarter. Volotea says it handled 2.4 million passengers in the third quarter, down only 23% on the ...
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NewsChina Southern to form 777F cargo unit
China Southern Airlines has applied to the Civil Aviation Administration of China (CAAC) for approval to establish a cargo subsidiary. To be based in Guangzhou, the new carrier, known as China Southern Airlines Cargo, will be wholly-owned by China Southern. Neither the CAAC nor China Southern gave any indication of ...
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NewsAmerican expands pre-flight testing programme
American Airlines has expanded its pre-flight coronavirus testing programme, hoping to inspire customers’ confidence to return to air travel.
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NewsRyanair’s O’Leary plots aggressive post-Covid strategy
Ryanair will exit the coronavirus crisis leaner, more competitive and ready for expansion, group chief executive Michael O’Leary has vowed. The low-cost carrier is using the crisis to “rapidly restructure our cost base”, he explained during a 2 November half-year results call. All of the major expense items – wages, ...
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NewsATSG turns Q3 profit as it steps up 767 freighter deployments
Air Transport Services Group made an operating profit of $74 million in the third quarter, up 80% year on year, as it deployed seven Boeing 767 freighters to leasing customers to capitalise on the demand for cargo aircraft amid the pandemic. The US lessor and operator generated $404 million in ...
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NewsIndonesia plans to merge Garuda Indonesia with tourism companies
The Indonesian government has outlined plans to merge nine state-owned tourism companies, including flag carrier Garuda Indonesia, in a move to maximise operational efficiencies. The country’s state-owned enterprises ministry states that the nine entities will be merged under a single holding company. Source: Airbus Indonesia has outlined plans ...
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NewsChina Southern first among ‘Big Three’ to return to profitability since pandemic began
China Southern Airlines became the first of China’s three largest carriers to report a quarterly operating profit since the coronavirus outbreak began, breaking its loss-making streak in the first half of the year. Its compatriots Air China and China Eastern Airlines, while still in the red for the three ...
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NewsDomestic demand bolsters Aeroflot revenue
Russian carrier Aeroflot saw quarter-on-quarter rises in passenger demand and revenue during the three months ended 30 September, underpinned by strong domestic demand. Although third-quarter revenue was down 67% on last year’s, at Rb55.2 billion ($695 million), the carrier notes that load factors and yields were at “comparable levels”. Still, ...
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NewsLosses prompt IAG review of fuel hedging
IAG is examining its policy of taking out fuel hedges following massive losses from the financial instruments.
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News‘Debates remain’ with government on bailout deal: KLM chief
KLM chief executive Pieter Elbers says the carrier is continuing discussions with the Dutch government over the approval of its bailout deal, amid reports that the airline’s proposals have been rejected.
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NewsComair restart hopes boosted by competition commission backing
Comair’s efforts to resume operations have been bolstered after competition regulators backed a consortium’s proposed bid to acquire the South African carrier from business rescue.
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NewsAir France-KLM laments fresh lockdown as Q3 loss tops €1bn
The new lockdown imposed by the French government amid rising cases of coronavirus across the region will weigh on Air France-KLM’s performance through the fourth quarter of this year.
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NewsDelta and its pilot union reach agreement to avoid furloughs
Delta Air Lines has reached a tentative deal with its pilot union to avoid furloughs at the Atlanta-based carrier until 2022.
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NewsSpirit Airlines reports Q3 loss, anticipates more end-of-year travel
Spirit Airlines reports lower third-quarter results and is preparing for a significant upturn as leisure travellers look to the end-of-year holidays to begin to alleviate their pent-up demand for cheap, safe travel to visit family and friends.
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NewsAllegiant Q3 results up as the airline is “flirting with break-even”
Allegiant Travel Company, the parent of ultra-low-cost carrier Allegiant Air, is “flirting with break-even” as point-to-point leisure travel rebounds faster than other parts of the aviation industry after it came to a near-standstill earlier this year.
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NewsRyanair to suspend service from all Irish airports except Dublin
Ryanair will temporarily cease operations from all Irish airports except Dublin for a one-month period, blaming government “mismanagement” and a “complete collapse in travel demand”.
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NewsHawaiian posts $97m Q3 loss, details 787 delivery delays
Hawaiian Airlines posted a $97 million loss in the third quarter, as the state’s coronavirus-driven quarantine requirements hampered air travel demand – and the airline’s recovery.
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NewsJetBlue reports sharply lower Q3 but sees leisure rebound
JetBlue Airways reported sharply declining third-quarter financial results but remains optimistic that the coming weeks will bring recovery as customers begin planning travel for the end-of-year holiday season.
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NewsANA swings to big first-half operating loss amid pandemic havoc
All Nippon Airways’ parent company ANA Holdings ended its first half of fiscal 2020 deep in the red, as it forecast a record full-year net loss of Y510 billion ($4.7 billion), citing a “significant decline” in passenger travel demand. The group also expects to book significant impairment losses – ...