Strategy – Page 150
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NewsCebu Pacific feels pinch from Philippines quarantine
Cebu Pacific says the month-long “community quarantine” imposed on metropolitan Manila and the main Luzon island group recently will free up 90% of its total seat capacity, even as it maintains services from its hubs outside of Manila and the region. The 90% capacity figure is based on the suspension ...
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NewsQantas Group secures $625 million against 787-9s
The Qantas Group has secured A$1.05 billion ($625 million) in a new round of debt funding to “strengthen its position as it manages through the coronavirus outbreak”. The 10-year loan bears 2.75% interest and is securitised against seven Boeing 787-9s. The jets are part of its fleet of 11 787-9s, ...
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NewsWestJet cuts 50% of staff
WestJet’s chief executive Ed Sims says the airline has eliminated half of its workforce as it tries to preserve itself while the coronavirus continues to ravage the air transport industry.
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NewsAirline passenger revenues to fall $252 billion in 2020 amid coronavirus: IATA
IATA now expects the coronavirus outbreak to reduce airline revenues from passenger operations by $252 billion in 2020 – more than double its earlier worst-case-scenario estimate.
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NewsNorwegian receives first financing under sector’s rescue package
Low-cost carrier Norwegian has obtained the first 10% of the funding that Norway’s government is guaranteeing for it under a rescue plan for the national airline industry. On 19 March, Norway announced an NKr6 billion ($542 million) bailout for the sector, of which half would go to Norwegian. The state ...
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NewsUAE halts all passenger flights for two weeks
All inbound, outbound and transit passenger flights to and from the United Arab Emirates – home to one of the world’s busiest hubs – are to be suspended for two weeks.
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NewsAirAsia reinstates Fernandes, Meranun citing independent probe
AirAsia Group reinstated Kamarudin Meranun and Tony Fernandes to their previously vacated positions on 20 March, after the low-cost carrier and its long-haul sister AirAsia X completed an independent probe into Airbus bribery allegations. The was conducted following an investigation into Airbus over corruption allegations. UK court documents list five ...
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NewsAirline CEOs promise no furloughs if aid flows quickly
US airline chief executives have told Congress that government aid must flow quickly to avoid mass layoffs and furloughs as a result of the coronavirus pandemic, while promising to limit executive pay and stop share buyback programs.
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NewsAir Canada temporarily lays off 5,100 cabin crew: union
Air Canada is reportedly temporarily laying off 5,100 cabin crew as the coronavirus hits its business, forcing it to ground aircraft and take significant capacity out of its network.
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NewsEuropean Council approves plan to waive slot rule until October
The European Council has approved a plan to suspend rules that force airlines to continue operating 80% of flights at certain EU airports in order to maintain slots.
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NewsSpain’s Volotea grounds fleet until 8 April
Volotea has announced the temporary grounding of its entire fleet until at least 8 April, sending home 1,100 of its employees in Spain, France and Italy over this period.
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NewsSouth African Airways suspends all international services
South African Airways is immediately cancelling all international services until the end of May.
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NewsCoronavirus rebound will take time: Air NZ chief
Air New Zealand’s chief executive believes the airline will emerge from the coronavirus crisis after agreeing to government backing on Friday, but a rebound will take time. “I’m pretty sure the airline’s going to be a little bit smaller than what it was, because it will be a bit of ...
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NewsWellington throws financial lifeline to Air NZ
Air New Zealand has secured standby funding of up to NZ$900 million ($511 million) from the government to support the airline as it battles the coronavirus outbreak. The government, which owns 52% of the airline, said on 20 March that the deal allows the carrier to keep operating and will ...
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NewsAir Baltic joins calls for sector-wide support
Air Baltic is urging government assistance for the airline industry amid the coronavirus crisis. As the Latvian carrier reported a net loss of €7.7 million ($8.2 million) for 2019, chief executive Martin Gauss noted that, given the sector’s vulnerability to the outbreak, “state support for airlines in general might be ...
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NewsRwandAir to suspend operations for 30 days
RwandAir will temporarily halt all services from 21 March to 21 April, as its looks to help prevent the spread of coronavirus. The African carrier will operate its last commercial passenger flight from Rwandan capital Kigali to London Gatwick on 20 March at 01:00. The return service will depart from ...
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News‘This is really about industry survival’: EasyJet chief
EasyJet chief executive Johan Lundgren has warned that the aviation industry is facing its worst crisis in history – one that is threatening many carriers with bankruptcy. “This is really about industry survival,” he told ITV’s Robert Peston in a television interview on 18 March. “What we have been asking ...
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NewsSenate aims to provide $58b in aid to airlines
The US government has offered its airline industry a package worth $58 billion to assist in supporting the sector as it manages through the coronavirus pandemic that has forced many to reduce schedules, ground aircraft and furlough staff.
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NewsCanada’s Sunwing to suspend flights and layoff pilots: union
Canadian leisure carrier Sunwing Airlines will suspend operations on 24 March and layoff all its roughly 470 pilots on 8 April, according the union representing Sunwing’s pilots.
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NewsCompass Airlines to shut down operations
Compass Airlines, which flies regional routes for American Airlines as American Eagle, will shut down completely on 7 April, the second US regional carrier to fall victim to the coronavirus.