Strategy – Page 152
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NewsNorwegian to cancel 85% of flights and temporarily lay-off 90% of staff
Norwegian is suspending a big majority of its services and laying off 7,300 employees as it seeks to weather the coronavirus outbreak. “The Covid-19 situation is escalating by the hour and due to stagnating demand and enforced travel restrictions by authorities worldwide, Norwegian will gradually cancel most of its flights ...
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NewsVirgin Atlantic to cut 80% of flights and ground 75-85% of fleet
Virgin Atlantic will reduce its flight schedule by 80% and park three-quarters of its fleet by 26 March, in addition to asking staff to take eight weeks of unpaid leave as it seeks to conserve cash and safeguard its future. The UK carrier says it is taking the “drastic measures” ...
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NewsEasyJet may ground ‘majority’ of fleet
EasyJet has warned that the impact of the coronavirus may force it to ground “the majority” of its fleet and threatens the viability of the aviation industry in Europe.
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NewsAir France A380s and KLM 747s grounded amid major capacity cuts
Air France is to ground its Airbus A380s and its Dutch sibling carrier KLM its full Boeing 747 fleet as part of wider capacity cuts the group expects will result in in potential cuts in its ASK capacity of between 70% and 90%.
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NewsKorean Air utilises passenger aircraft and routes for cargo
Korean Air is using passenger aircraft as freighters on suspended routes, as it seeks “new opportunities in the market amid unpredictable changes such as suspensions of flights and the US’ restrictions on European countries”. On 13 March, the flag carrier transported emergency supplies and agricultural products from South Korea to ...
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NewsAir NZ triggers trading halt, readies for redundancies
Air New Zealand has triggered a self-imposed trading halt from Monday to allow itself “more time to more fully assess the operational and financial impacts of global travel restrictions”. It does not state when this will be lifted. The airline says in the same statement: “As a result of the ...
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NewsAir Baltic to suspend flights until 14 April as Latvia tightens restrictions
Air Baltic is to temporarily suspend flights from 17 March until 14 April following the Latvian government’s decision to suspend international air traffic as part of measures to counter the coronavirus crisis.
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NewsNorway to temporarily shut its airports
Norway is to temporarily close its airports from 16 March as part of wide-ranging restrictions aimed tackling the spread of the coronavirus pandemic.
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NewsDelta to ground 300 aircraft and cut all flights to mainland Europe
Delta Air Lines has told employees that it is grounding 300 aircraft, representing 30% of its total aircraft fleet, and cutting all flights to mainland Europe as the coronavirus cripples travel and grips the world.
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NewsNorwegian seeks urgent government support
Norwegian is asking the government in Oslo for an immediate bailout as it struggles to cope with the coronavirus outbreak that is decimating travel demand.
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NewsAir France-KLM draws down €1.1bn credit facility
Air France-KLM has withdrawn the full €1.1 billion ($1.2 billion) available from its revolving credit facility as it looks to shore up cash reserves in the face of the coronavirus outbreak. The funds are renewable at the group’s request for one-, three- or six-month periods until 6 November 2022, giving ...
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NewsNorwegian seeks to funnel US passengers through London
Scandinavian budget carrier Norwegian is attempting to adapt to the transatlantic travel ban by routing customers through its UK base at London Gatwick. But it is unclear how effective this strategy will be given the extent of the US government’s restrictions. Norwegian says its aim is to re-route “as many ...
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NewsIndustrial dispute notice heaps pressure on El Al
Israeli flag-carrier El Al is facing industrial action from its personnel towards the end of this month, heaping pressure on the airline as it battles to deal with the coronavirus impact. The airline says it received, on 12 March, formal notification of a labour dispute and possible strike from 27 ...
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NewsFragile Fastjet aims for Zimbabwe carrier sale in April
African operator Fastjet Group expects to meet all preconditions, by the end of March, for divesting its Zimbabwean division and complete the transaction in April. It says participants of an investor consortium led by Solenta Aviation Holdings remain “committed” to the acquisition of Fastjet Zimbabwe under previously-agreed terms. Fastjet Group ...
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NewsVirgin Australia cuts flights and suspends earnings guidance
Virgin Australia, which describes itself as a “[predominantly] domestic airline”, has made further cuts to its international network. It now expects to reduce international capacity by 8% instead of 4.8% in the second half of 2020, and 10.3% in the first half of 2021. Over the same period, group capacity ...
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NewsLATAM slashes international flights by 30%
LATAM Airlines Group is cutting its international flights by 30% for the months of April and May, as countries close borders to slow the spread of the coronavirus outbreak. As a result of lower demand and government restrictions resulting from the pandemic, the airline group is reducing flights from South ...
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NewsCanada’s Transat evaluates its options as it weathers coronavirus
Canada’s Transat AT, the parent company of leisure carrier Air Transat says it is evaluating all options as it grapples with the effects of the coronavirus on its business.
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AnalysisEurope’s airlines brace for survival battle
The shutdown of transatlantic markets to European airlines is plunging the continent’s airlines into crisis and could threaten a wave of bankruptcies across the sector, analysts warn.
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NewsIATA spells out financial danger for airline industry of travel bans
IATA has warned governments must be ready to provide support to counter the impact of travel bans implemented to counter the coronavirus outbreak, warning measures such as the ban imposed by the USA were not included in its recent worse-case scenario for the financial hit to the industry.
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NewsAzul sees drop in international demand, but domestic flights less impacted
Brazilian carrier Azul has cut its international flight network as a result of lower demand due to the global coronavirus crisis, and is closely monitoring its liquidity and expenditures as the crisis drags on.