Strategy – Page 143
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NewsFinnair seeks further layoffs to match reduced flying schedule
Finnair will enter talks with its entire workforce to secure additional temporary layoffs aimed at downsizing the number of employees to match its much-reduced flying schedule over the coming months.
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NewsNorwegian secures key state loan after sealing equity restructuring
Norwegian has completed its financial restructuring under which it converted NKr12.7 billion ($1.27 billion) debt into equity to enable it to access NKr3 billion in lifeline state aid.
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NewsKKR to buy six Delta A321s in sale-leaseback deal
Investment company KKR has signed an agreement to buy six Airbus A321s from Delta Air Lines, which it will lease back to the Atlanta-based carrier.
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NewsHawaiian Airlines hopes for speedy end to quarantine
Hawaiian Airlines chief executive Peter Ingram says the lifting of Hawaii’s blanket coronavirus quarantine order for all inbound travelers will be integral to returning to normalcy for the airline, and the state, for which tourism is an essential industry.
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NewsDelta aims to reduce cash burn to zero by year-end
Delta Air Lines says it aims to reduce its daily cash burn to zero by the end of the year as it begins to ramp up its schedule to accommodate a small uptick in demand after the global coronavirus pandemic decimated air travel several weeks ago.
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NewsIATA sets out biosecurity roadmap to restarting flights
Passengers and airlines would face radical changes to the process of air travel under IATA’s guidelines for restarting the industry when the Covid-19 pandemic subsides. While its recommendations are not binding, the association hopes that governments, airlines and airports will adopt the measures as a middle ground to allow passengers ...
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NewsThai Airways approved for bankruptcy court-supervised restructuring
The Thai government has given its approval for Thai Airways International to reorganise under the supervision of the local bankruptcy court. “The Thai Cabinet approved the reform plan for [Thai Airways] which will be implemented through the business reorganisation chapter under the auspices of the Central Bankruptcy Court of Thailand ...
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NewsSmartwings seeks support on financing not state ownership
Czech airline operator Smartwings Group insists it is only pressing for government support on financing through the crisis rather than wanting it to take a holding in the company. The group, which includes Czech Airlines as well as leisure operator Smartwings, was the focus of fresh speculation after the country’s ...
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NewsRyanair expects post-Covid-19 price war
Fares will be slashed across Europe once coronavirus travel restrictions are lifted as airlines seek to tempt passengers back on board, Ryanair believes.
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NewsIndia’s Indigo distances itself from shareholder move for Virgin Australia
The parent of Indian carrier Indigo Airlines has distanced itself from a move by its biggest shareholder InterGlobe Enterprises expressing interest in Virgin Australia.
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NewsRyanair cuts office staff at four bases
Ryanair has axed more than 250 office-based jobs at four locations and will this month announce details of its plan to slash up to 3,000 crew positions
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NewsJet2 owner accesses £300m UK government loan
Jet2’s parent company has qualified for a £300 million ($366 million) loan from the UK government’s Covid Corporate Financing Facility (CCFF).
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NewsAzul cites flexibility as key to coronavirus operations
Brazilian carrier Azul says it is preparing a host of scenarios to manage its way out of the coronavirus crisis, while keeping cash burn low and maintaining a high level of liquidity that it hopes will help it see through to the other side of the global pandemic.
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NewsSingapore Airlines parent slips to full-year net loss
SIA Group saw its annual operating profit dwindle to S$59 million ($41 million) in the 12 months ended 31 March – from S$1.07 billion the previous financial year – and was loss-making at the net level.
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NewsBangkok Airways swings to first-quarter loss
Bangkok Airways posted an operating loss of over Bt260 million ($8.1 million) in the first quarter of 2020, undoing the Bt870 million operating profit in the same period last year. Revenue for the quarter ended 31 March fell 17.5% year-on-year to Bt6.42 billion. Passenger revenue declined 25.3% to Bt4.45 billion, ...
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NewsKorean Air raises $1.8 billion from new shares and government aid
Korean Air will raise W2.2 trillion ($1.8 billion) in fresh capital – W1 trillion from a new share issue and W1.2 trillion in government aid – to overcome challenges posed by the Covid-19 pandemic. The carrier will issue 79 million shares at W12,600 each, a move it says was decided ...
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NewsUS Senators introduce coronavirus flight ticket cash refund legislation
A group of Democratic US Senators have proposed legislation that require airlines offer full cash refunds for all tickets that were cancelled either by the airline or by the passenger during the coronavirus pandemic.
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NewsAllegiant reports first quarter loss
Allegiant Travel Company, the parent of Allegiant Air, reported a first-quarter loss as the coronavirus took its toll on leisure travel following shelter-in-place orders imposed across most of the USA.
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NewsAvianca reorganisation begins
Avianca says initial motions in the proceedings for reorganisation under its Chapter 11 bankruptcy filing have been approved by the US Bankruptcy Court for the Southern District of New York, allowing it to pay employees and creditors and maintain some operations.
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NewsBrussels Airlines to cut workforce by 25% and remove 16 aircraft
Brussels Airlines is reducing the number of aircraft in its fleet by 30% and slashing its workforce by a quarter in response to the coronavirus crisis.