Strategy – Page 151
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NewsSwiss ponders full operational stop amid ‘draconian’ restrictions
Swiss International Air Lines is considering a full suspension of flights, following the lead of other carriers within Lufthansa Group, which as a whole has shed 95% of its planned capacity.
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NewsIATA blasts new EU passenger rights guidance during pandemic
Airline passengers whose flights are cancelled as a result of the coronavirus outbreak will be able to choose between having the cost of their ticket reimbursed or rebooking on to a later flight under new European Union guidelines, a move that has prompted “dismay” at IATA.
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NewsJet2 parent pulls profits guidance as carrier suspends flights until May
Parent of UK leisure carrier Jet2 has pulled its full-year financial guidance after the operator was forced to cancel all flying until 1 May following the widespread introduction of travel restrictions across Europe.
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NewsCanada’s Porter shutters until June
Canadian regional carrier Porter Airlines says it is ceasing all operations until June, according to a notice on the airline’s website.
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NewsDOT issues final order denying antitrust immunity for Hawaiian-JAL joint venture
The US Department of Transportation has issued a final order denying a request of antitrust immunity for Hawaiian Airlines’ proposed joint venture with Japan Airlines.
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NewsRyanair may shut down all operations from 24 March
Ryanair is cutting 80% of its scheduled flights and could ground its entire fleet in response to the coronavirus.
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NewsAir Malta to suspend all flights as government imposes travel ban
Air Malta is suspending operations, following a decision by the Maltese government to ban all commercial air travel to the country because of the coronavirus outbreak.
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NewsTrans States Airlines to fold in April
Trans States Airlines, which announced last month that it would be shuttering at the end of the year due to consolidation and a pilot shortage, has told its employees that it will go out of business nine months earlier, on 1 April. It could be the first US airline to fall victim to the coronavirus that has decimated the industry.
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NewsTrump administration proposing aid package that would leave US carriers ‘in good shape’
The US government is working with Congress to pass legislation that would provide financial support a broad swath of US industry, including to the country’s airlines, which have been hammered in recent days by a collapse in demand.
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NewsUS airline group details $58bn government aid request
The group, as previously reported, has asked for $50 billion in support of passenger airlines. But it also requests $8 billion for cargo carriers, and tax breaks from a fund that generated almost $16 billion in fiscal year 2018 revenue. It is receiving criticism after many airlines spent free cash flow on stock repurchases recently.
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NewsIATA warns government action needed to tackle airline liquidity crisis
Airline trade association IATA is calling for governments to urgently step in with financial support measures, warning a liquidity crisis resulting from the swathe of capacity cuts means many airlines are close to running out of cash.
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NewsLauda halts all flights until 8 April
Ryanair’s Austrian subsidiary Lauda has suspended all flights until 8 April. The Vienna-based airline has been serving more than 100 destinations across some 30 European countries and has stations in German cities Dusseldorf, Stuttgart, Spanish island Majorca, and Croatian city Zadar. Source: Lauda Cirium fleets data shows ...
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NewsCoronavirus costs Cathay HK$2 billion in February
Cathay Pacific made an unaudited loss of more than HK$2 billion ($257 million) in February, as it takes a hit from the coronavirus outbreak. Meanwhile, Singapore Airlines saw falling passenger numbers for the month, and warns of weakened travel demand in the near term.
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NewsQantas to ground nearly entire widebody fleet, cut capacity further
Australia’s Qantas Group will ground 150 aircraft — including “almost all” of its widebody fleet —amid deeper capacity cuts across both its international and domestic networks.
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NewsIATA: ‘urgent measures’ needed to support air cargo
The International Air Transport Association (IATA) has appealed to governments to take “urgent measures” to support cargo operations, which is instrumental to transport essential medical supplies and keep the economy functioning as airlines cut passenger service up to 75%.
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NewsTrump promises to ‘help’ US airlines
US president Donald Trump says the government will back airlines as they struggle to manage the fallout from the global coronavirus pandemic.
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NewsUS airlines ask for $50 billion in government aid
US airlines are seeking at least $50 billion in aid to support them as they manage through the coronavirus crisis that has caused a sharp drop in demand, leading to mounting losses for an industry accustomed to years of progressive profit growth.
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NewsAir Canada to request government help
Air Canada says it is retracting its financial guidance and cutting its operations as the global coronavirus pandemic hits the airlines, while asking the Canadian government to help with the financial losses it expects to suffer in the coming months.
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NewsPilots and United to ask for ‘government assistance’: Pilots union
United Airlines will ask the US government to help airlines as they suffer deep losses following the drop-off in demand as the coronavirus engulfs the industry.
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NewsBank expects Lufthansa Group to make €1.5bn operating loss in 2020
Credit Suisse is forecasting that Lufthansa will make an operating loss of €1.5 billion ($1.7 billion) this year, and is advocating a move toward leasing aircraft as a means of improving the group’s cash position. The bank had previously predicted an adjusted EBIT of €2.2 billion. Source: Austrian ...