Strategy – Page 129
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NewsGulf Air chief Kucko to step down
Gulf Air chief executive Kresimir Kucko is to step down from the role at the end of September after almost three years at the helm.
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NewsAeroflot cleared to increase share capital
Aeroflot has won shareholder approval to increase its authorised capital to 1.95 billion shares.
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NewsItaly again cites Ryanair over compliance with Covid measures
Italy’s civil aviation authority is meeting with Ryanair on 16 September to discuss allegations of non-compliance with the country’s Covid-related health measures.
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AnalysisAsiana Airlines in ‘close consultation’ with creditors: CEO
The chief executive of South Korea’s Asiana Airlines, Han Chang-soo has expressed regret that the acquisition deal with Hyundai Development fell through, but says the airline is working closely with creditors to chart the way forward. “I have made efforts for the M&A to be completed for about a year ...
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NewsTroubled Nok to improve fleet efficiency, seek alternative revenue sources
Thai low-cost carrier Nok Air, which recently filed for business rehabilitation, will improve fleet efficiency, seek alternative revenue streams, and adjust its marketing efforts - all in a bid to reduce costs. The latest move comes as the troubled carrier’s securities were given the ‘caution’ sign by the Thai stock ...
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NewsFAA extends slot relief at seven major US airports
The Federal Aviation Administration is proposing to extend slot relief at seven major US airports so as not to penalise airlines that reduced flying as a result of the aftermath of the coronavirus pandemic.
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NewsEuropean Commission agrees to waive 80:20 airline slot rule for winter
The waiver conditions agreed between airlines, airports and slot coordinators earlier in September will be applied immediately, “pending the adoption of fully enforceable conditions”, says European Commissioner for Transport, Adina Valean.
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NewsGreenpeace to launch legal challenge over KLM state aid
Environmental group Greenpeace is to launch a legal challenge to block the Dutch government’s planned €3.4 billion ($4 billion) rescue support for national carrier KLM arguing green conditions tied to the bailout are not strong enough.
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NewsCathay to park 40% of fleet in long-term storage overseas
Beleaguered Cathay Pacific will move about 40% of its fleet to long-term storage locations overseas, as it adjusts downwards its forecasted capacity for the coming months. In its monthly traffic results for August, Cathay confirms that it is parking a significant number of aircraft overseas, given that it “will be ...
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NewsTaiwan’s Starlux orders eight A330neos
Starlux Airlines is set to become Taiwan’s first Airbus A330neo operator, after the carrier ordered eight examples of the widebody. Airbus, announcing the order on its social media channels, states that the eight widebodies will be leased from Air Lease Corporation. Source: Airbus Starlux Airlines ...
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NewsLATAM request for DIP financing rejected by bankruptcy court
LATAM Airlines’ proposal to secure $2.2 billion in debtor-in-possession financing has been rejected by a bankruptcy court in New York. The Chile-based airline group, which filed for Chapter 11 bankruptcy protection in the USA on 26 May, says in a Securities and Exchange Commission filing that a judge at the ...
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NewsRyanair closes Dusseldorf base
Ryanair will close its Dusseldorf base in October after the German airport’s operator and a ground handling provider refused to lower their fees.
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NewsKumho’s effort to sell Asiana stake collapses
A deal that would have seen HDC Hyundai Development (HDC) obtain control of Asiana Airlines has fallen through. Kumho Industrial, which owns a controlling stake in the carrier, informed the airline’s main creditor, Korea Development Bank (KDB), of the deal’s collapse, according to a report by the official Yonhap news ...
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NewsLATAM names former JetBlue executive as new commercial chief
Chile’s LATAM Airlines has appointed Marty St. George to be its new chief commercial officer.
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NewsTransat’s fiscal Q3 yields 99% decline in revenue
Canada’s Transat AT, the parent company of leisure carrier Air Transat, posted revenues of just C$9.5 million ($7.2 million) in its third fiscal quarter. During that period, it had just a single week of operations due to business interruptions from the coronavirus pandemic.
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NewsSingapore Airlines to slash 4,300 jobs across group as pandemic takes toll
Singapore Airlines Group is to cut 4,300 positions across its airlines in a further sign of the scale of the impact of the coronavirus pandemic on the air travel industry. SIA expects to only be operating less than half its capacity by the end of the current financial year in ...
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NewsJin Air to modify one 777-200ER for cargo-only operations
South Korea’s Jin Air is scheduled to remodel one Boeing 777-200ER passenger aircraft for cargo-only operations. The modifications are due to take place in October and will increase the aircraft’s cargo capacity by 10t to 25t. Source: FlightGlobal file photo Jin Air will modify one Boeing 777-200ER to ...
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NewsAir NZ extends 777 grounding to September 2021, or beyond
Air New Zealand will ground its Boeing 777 fleet for nearly one more year, as it notes that recovery from the coronavirus pandemic will be “slower than initially thought.” Instead of resuming 777 operations at the end of the year, the carrier says it will store the aircraft “until at ...
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NewsVolaris seeks shareholder approval for $162 million capital raise
Volaris is seeking to raise up to 3.5 billion Mexican pesos ($162 million) through a rights offering, share sale or debt issuance to strengthen its balance sheet and enable it to take advantage of market opportunities.
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NewsKorean Air starts cargo operations with converted 777-300ER
Korean Air has began cargo operations with a freight-optimised Boeing 777-300ER, after it received regulatory approval to modify the popular widebody. The aircraft, registered HL8208, operated its first cargo flight on 8 September, from Seoul Incheon to Columbus, Ohio in the USA. Source: Greg Waldron Korean ...