Strategy – Page 152
-
NewsUK court formally backs Virgin Atlantic restructuring plan
Virgin Atlantic has completed another step in its planned recapitalisation after a court today approved its restructuring plan.
-
NewsAugust is strongest traffic month for Ryanair and Wizz since crisis
The two airlines are the first in Europe to report traffic figures for the month, providing an early indication of how much passenger levels returned during the summer travel peak.
-
NewsWestJet passes Nav Canada fee increases to customers
Nav Canada, the Canadian provider of civil air navigation services, has increased its fees for air traffic control services by almost 30%, prompting the country’s second largest carrier to pass those fees on to its customers.
-
NewsArab carrier traffic seen not back to pre-crisis levels until at least 2024
Traffic among Arab air carriers is not now expected to return to pre-crisis levels until at least 2024 and could potentially not reach those levels before 2027, fresh analysis from the Arab Air Carriers Organisation (AACO) shows. In its third status report of the impact of the pandemic on the ...
-
In depthUS pilots and cabin crew brace for furloughs: a look at the numbers
US passenger airlines are preparing to shed up to 100,000 jobs in the coming weeks unless Congress steps in to extend the financial relief that kept workers employed until now.
-
NewsAir cargo traffic stabilises in July as capacity crunch continues
Air cargo traffic was stable in July but demand continues to be constrained by the lack of bellyhold capacity, according to the latest monthly report from IATA. Figures from the airline association show that demand in cargo tonne kilometre (CTK) terms fell by 13.5% year on year in July. IATA ...
-
NewsDelta and American follow United in abolishing change fees
A day after United Airlines killed the long-hated change fee, Delta Air Lines and American Airlines have matched the Chicago-based carrier’s move, also pledging to “permanently” eliminate all change fees for domestic and some international travel.
-
NewsAvianca secures $370m government loan commitment
Colombia’s government has committed $370 million in aid to Avianca as part of a $2 billion financing package aimed at helping the struggling carrier weather the coronavirus downturn.
-
NewsUnited to furlough 2,850 pilots by end-2020
United Airlines will furlough 2,850 of its 13,000 pilots by the end of 2020 as passenger demand remains low and federal funding for airlines runs out in the coming weeks.
-
NewsKenya Airways weighs cuts to ensure sustainable future
Kenya Airways is evaluating fleet, network and staff cuts to adapt to dramatic reductions in customer demand.
-
NewsNew Chinese cargo airline approved to induct three Boeing 737s
Chinese cargo start-up Northwest International Cargo Airlines has been approved by the country’s civil aviation authority to introduce three Boeing 737 freighters to its fleet.
-
NewsNorwegian keeps faith in slimmed down long-haul model
Restructuring low-cost carrier Norwegian aims to stick with a scaled-back version of its long-haul business when it moves out of the hibernation phase it has been in since the coronavirus crisis hit. While the airline continues to work on financial restructuring to secure its future – and today confirmed it ...
-
NewsSchiphol Group to cut hundreds of jobs as airport traffic falls
Dutch airports operator Royal Schiphol Group expects to cut hundreds of jobs as the coronavirus crisis stymies demand for air travel.
-
NewsNorwegian warns more cash needed to survive crisis
Restructuring low-cost carrier Norwegian has warned it will require further financing next year to survive the winter as coronavirus-related travel restrictions continue to hamper the recovery in air travel
-
NewsFiji Airways quashes insolvency rumours
Fiji Airways has rejected what it describes as injurious media speculation about its financial health. ”Fiji Airways is not insolvent by any definition of the word, whether you look at our cash flow or our balance sheet,” managing director and chief executive, Andre Viljoen said in a statement on 27 ...
-
NewsAirAsia X posts record quarterly loss amid ongoing grounding
Beleaguered long-haul, low-cost carrier AirAsia X will remain grounded “in the near term”, as it trims its fleet and network amid a record operating loss. The carrier, which only operates international routes, is also looking to sell two Airbus A330 aircraft to raise cash, and negotiating the early return of ...
-
NewsAirAsia to focus on domestic recovery amid widened Q2 loss
AirAsia Group anticipates a return to profitability “in the years to come”, with demand — particularly for domestic travel — expected to increase in the second half of the year. At the release of its second-quarter financial results, group chief executive Tony Fernandes says AirAsia Group has reduced its costs ...
-
NewsSpirit pilots agree to deal preventing 600 layoffs
Spirit Airlines’ pilots have agreed to work fewer hours as part of a deal that will prevent the airline from needing to lay off 600 of pilots.
-
NewsVirgin Atlantic creditors back rescue plan
Virgin Atlantic’s recapitalisation efforts have been boosted after creditors voted in favour of its restructuring plan.
-
NewsFinnair seals A350 sale-and-leaseback to bolster cash position
Finnair has flagged an immediate positive cash effect in excess of €100 million after finalising the sale-and-leaseback of one of its Airbus A350 aircraft.