Strategy – Page 142
-
NewsNorway to extend airline loan guarantee scheme
Norway’s government plans to extend its state loan guarantee scheme for airlines until the end of October saying the crisis is lasting longer than envisaged when the programme was intially launched.
-
NewsANA Holdings undertakes $3.3 billion debt financing
All Nippon Airways’ parent company has decided to undertake a fresh round of debt financing from the Development Bank of Japan, amounting to Y350 billion ($3.3 billion). The agreement is subject to a 29 June borrowing deadline and the debt financing will be repaid over the long term, “determined by ...
-
NewsChallenges ahead in Thai Airways business rehabilitation
The 60-year-old Thai Airways International, now in court-supervised business rehabilitation, carries the burden of legacy issues, a history of failed restructuring and transformations, and being ill-equipped to tackle industry challenges.
-
NewsNorwegian clings to restructuring hopes as Q1 losses widen
Norwegian’s first-quarter losses have widened significantly to NKr3.28 billion ($331 million) and the company remains in “hibernation mode”, in the hope that its recent financial restructuring and state-aid lifeline will enable it to have a future.
-
NewsEasyJet to axe up to 30% of jobs as it cuts fleet
EasyJet is to begin consultations on proposals to cut staff levels by up to 30% as it expects to reduce its fleet by 51 through a mix of deferrals and returning leased aircraft by the end of 2021. In a trading update released today the UK budget carrier says it ...
-
NewsThai Airways appoints planners for business rehabilitation
Thai Airways International has appointed five people, including one of its former presidents, to jointly hold the position of plan preparer during its business rehabilitation process. The carrier’s chairman Chaiyapruk Didyasarin and acting president Chakkrit Parapuntakul have been appointed, along with three newly appointed board members: former president Piyasvasti Amranand, ...
-
NewsLessor Avation pulls the plug on sale process
Avation is ending its formal sale process as the Covid-19 pandemic brings unprecedented disruption to the aviation industry that is still ongoing. The Singapore-based lessor says in a 27 May statement that over the past “several weeks”, Covid-19 has “continued to disrupt business activities, particularly air travel, on an unprecedented ...
-
NewsBankruptcy is not a financial tool: American chief
American Airlines chief executive Doug Parker expects all the major US airlines to survive the current zero-revenue environment created by coronavirus pandemic, including the one he leads. Despite the many millons of dollars being burned daily by American (and by its peers), filing for bankruptcy protection is not perceived by ...
-
NewsUnited reshuffles management to prepare for post-coronavirus world
United Airlines says that it is reshuffling top management roles to better prepare itself for a post-coronavirus transformation.
-
NewsAmerican sees signs of travel rebound
American Airlines says it sees promising signs of a rebound in air travel after the coronavirus pandemic decimated the industry earlier this year, but warns that the bounce in demand is tenuous, and from a vanishingly low level.
-
NewsKenya Airways losses widen in 2019 on higher costs
Kenya Airways pre-tax losses deepened to KSh13 billion for the year ending December 2019 despite increasing passenger levels and revenues.
-
NewsAdministrators see ‘reasonable’ prospect of SAA rescue
Business rescue practitioners at South African Airways describe as “reasonable” the prospects of rescuing the struggling carrier, though stress this is dependent on the necessary funding.
-
NewsLufthansa board delays state aid approval over EU conditions
Lufthansa’s supervisory board has postponed pushing ahead with approving crucial state-supported funding because of European Commission conditions attached to the package.
-
NewsSAA rescuers pour cold water on plan to resume domestic flights
South African Airways’ plan to restart domestic flights in mid-June has been called into question by its rescuers, who have criticised the airline for releasing an “unvetted” public statement that created an “unfair expectation” among stakeholders.
-
NewsHainan reduces shareholding in MRO arm, divests training unit
Hainan Airlnes will reduce its stake in its MRO unit and divest its training unit to other HNA Group companies as it seeks to intensify its focus on the core passenger and cargo business. Hainan will reduce its stake in MRO unit HNA Technic to about 68%, with the ...
-
NewsIATA spells out airline failure fears from rising debt burden
IATA is warning that the increased debt levels being racked up by airlines to counter the revenue shortfall during the coronavirus grounding means a slower recovery and the potential for failures remain even though state interventions have been made.
-
NewsThai government reduces stake in Thai Airways
The Thai government is no longer a majority shareholder in Thai Airways after the country’s finance ministry reduced its stake to 47.86% from 51.03%. “After the reduction of shareholding percentage held by the Ministry of Finance in the company, the company shall cease to be a state enterprise under the ...
-
NewsJet2 pushes back resumption of flights to 1 July
UK budget carrier Jet2 will restart operations on 1 July, having previously said it would begin flying again on 17 June.
-
NewsEasyJet shareholders back airline’s board in Stelios dispute
EasyJet founder Stelios Haji-Iaonnou has failed in his attempt to oust the airline’s management team
-
NewsUnited plans to remove seats from regional jets, CEO seeks union concessions
United Airlines says it is working on drawing up plans to remove middle seats on some regional aircraft if it is forced to furlough pilots due to the slow recovery following the global coronavirus pandemic.