Strategy – Page 137
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NewsCathay anticipates HK$9.9 billion half-year net loss
Cathay Pacific Group expects to post a net loss of about HK$9.9 billion ($1.28 billion) for the six months ended 30 June, even as it gradually adds capacity back to its network. The first-half net loss, which is subject to auditor reviews, is a stark contrast to its financial ...
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NewsCharter start-up GlobalX signs for an A320
Prospective charter carrier Global Crossing Airlines has entered into an agreement to purchase one Airbus A320-200 aircraft as it awaits FAA approval to begin operations.
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NewsAmerican Airlines warns 25,000 employees of pending job losses
American Airlines has warned 25,000 employees that they may be out of a job when the USA’s federally funded payroll support programme runs out on 1 October.
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NewsAir Baltic expects growth ‘leading to IPO’ as bailout is approved
Shareholders in Air Baltic have approved a €250 million ($285 million) investment by the Latvian government to ensure the carrier’s survival amid the coronavirus crisis.
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NewsHong Kong government appoints board observers to Cathay Pacific
The Hong Kong government has appointed two observers to the board of Cathay Pacific Airways, as part of its bailout plan for the Chinese special administrative region’s flag carrier. Carlson Tong and Rimsky Yuen joins the board as observers with immediate effect, the government said in a 14 July statement. ...
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NewsLessors bemoan lack of clarity around Garuda’s bailout
Garuda’s lessors are concerned about the lack of clarity surrounding the quantum and timing of an expected government bailout seen as key to the survival of Indonesia’s national carrier, even though it pulled off a three-year extension of its $500 million sukuk last month. Lessors tell Cirium they have been ...
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NewsDelta says road to recovery will be long and ‘choppy’
Delta Air Lines has seen a few positive signals for a recovery after the coronavirus pandemic almost completely shut down air travel during April, as it was able to reduce cash burn amid a small increase in bookings, but the airline’s losses during the quarter indicate the industry’s crisis is still far from over.
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NewsVirgin Atlantic eyes profit from 2022 after sealing vital £1.2bn refinancing
Virgin Atlantic has finalised a £1.2 billion refinancing package over the next 18 months.
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NewsDelta posts huge second-quarter loss as pandemic takes toll
Delta Air Lines posted an adjusted pre-tax loss of $3.9 billion for the second quarter, even before fleet restructuring costs and investment write-downs widened its overall coronavirus crisis losses incurred for the period.
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NewsVirgin Australia bondholders drop challenge to Bain Capital sale
A group of Virgin Australia bondholders, represented by two fund managers, have withdrawn their application to the Australian Takeovers Panel to challenge the airline’s sale to Bain Capital.
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NewsJapan to suffer heaviest revenue hit among APAC countries: IATA
Japan, Australia, India and South Korea are the Asia-Pacific countries that will see the worst revenue impact from the Covid-19 pandemic, running into tens of billions of dollars, IATA has predicated. In providing a country-by-country breakdown, IATA reiterates its 9 June forecast that Asia-Pacific, as the first region to feel ...
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NewsAmerican expects this week to notify pilots of layoffs
American Airlines intends to notify pilots this week of potential layoffs, a move coming after executives estimated the airline may need to cut some 1,500 pilot jobs.
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NewsLufthansa prepares launch of new leisure unit Ocean
Lufthansa has incorporated a new entity named Ocean to operate long-haul flights to tourist destinations and reduce the “complexity” of the group’s current presence in that segment.
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NewsEuropean Commission gives KLM state financing the go-ahead
KLM’s €3.4 billion ($3.8 billion) state-support package has been approved by the European Commission.
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NewsCathay shareholders approve HK$39 billion bailout plan
Cathay Pacific’s shareholders have given the green light for a HK$39 billion ($5.03 billion) recapitalisation plan. At the closing of an extraordinary general meeting held on 13 July, the carrier’s shareholders voted overwhelmingly to approve the plan. In total, three resolutions and two special resolutions were put up ...
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NewsAmerican seeks Boeing’s help to avoid 737 Max cancellations: report
American Airlines is reportedly seeking Boeing’s help to arrange financing for the purchase of at least one dozen 737 Max jets scheduled to be delivered this year, with the fate of those orders hanging in the balance.
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NewsBreeze applies for certificate transfer, presents business plans
Breeze Airways, the start-up passenger carrier headed by serial aviation entrepreneur David Neeleman, has applied to acquire the certificate of now-defunct Compass Airlines, and published plans for its first year of operation.
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NewsLevel France becomes latest coronavirus crisis airline casualty
IAG’s Paris Orly-based long-haul budget unit, Level France, is to cease operations after seeing demand for its transatlantic services plummet.
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NewsJapan Airlines and Malaysia Airlines to launch joint business
Japan Airlines and Malaysia Airlines expect to launch a joint business partnership on 25 July, through which the two national carriers will co-operate commercially on flights between Malaysia and Japan. JAL says the airlines will “take on new challenges to further enhance convenience between Japan and Malaysia and allow customers ...
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NewsStruggling Air Namibia cleared to resume flights
Under pressure Air Namibia has been cleared by the Namibian High Court to resume services after its operating licence was suspended amid continued financial concerns.