Strategy – Page 153
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PodcastAirline Business podcast: Airlines reel from coronavirus impact, plus latest on Boeing 737 Max
Join executive editor Graham Dunn and managing editor Lewis Harper as they discuss the spiralling impact of the coronavirus, which has been described by IATA as a “crisis” for the airline industry. Graham and Lewis consider markets across the world, including Italy’s, which has joined those in Asia and elsewhere ...
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NewsUK chancellor sets ‘spring 2020’ timing for APD reform consultation
Consultation on a review into the UK air passenger duty levels is now expected in “spring 2020” the country’s new chancellor Rishi Sunak disclosed today in delivering his first budget.
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NewsLos Angeles teacher sues Delta for fuel dump
A teacher at a Los Angeles area high school has sued Delta Air Lines following a fuel dump from a Delta jet experiencing engine troubles after departing Los Angeles International airport.
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NewsCathay Pacific in talks to defer aircraft deliveries
Cathay Pacific is in talks with Boeing and Airbus over possible deferral of aircraft deliveries this year, as the coronavirus outbreak leaves an impact on its fiscal performance. At a briefing after Cathay released its annual results for 2019, chief operations and services delivery officer Greg Hughes confirmed that discussions ...
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NewsIndonesia AirAsia parent issues first-quarter profit warning
The parent company of Indonesia AirAsia (IAA) has issued a profit warning for the current quarter, attributing it to new lease accounting standards and projected declines in ticket sales due to the coronavirus outbreak. In an Indonesia Stock Exchange disclosure, AirAsia Indonesia discloses that implementing the new standard will result ...
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NewsCathay flags ‘substantial loss’ for first half of 2020
The ongoing coronavirus outbreak is taking its toll on the Cathay Pacific group’s financial performance, with the group warning that it expects to incur a “substantial loss” for the first-half of this year. Cathay adds in its full-year financial results that the outbreak, which first originated in China late 2019, ...
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News‘Turbulent’ 2019 squeezes Cathay profit
The Cathay Pacific Group saw operating profit for 2019 shrink, following a worse-than-expected second-half result that was affected by political turmoil in Hong Kong. For the year ended 31 December 2019, the group reported an operating profit of HK$3.4 billion ($437 million), a 4.3% decrease compared to 2018. ...
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NewsVirgin’s Richard Branson urges faith in airlines
Virgin Group founder Richard Branson says that the airline industry has endured past crises but could “come to a grinding halt fairly quickly” amid coronavirus outbreak risks. The founder of numerous companies including air launch to orbit service Virgin Orbit and Virgin Atlantic Airways accepted an award from the Royal ...
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NewsUnited Airlines paints dire coronavirus scenario for 2020
United Airlines is preparing for a dark scenario for the aviation industry in the coming months as the coronavirus decimates demand and customers stay away from travel in order to protect themselves from becoming infected with the fast-moving flu-like disease.
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NewsCondor acquisition ‘distorts competition’: Lufthansa
Lufthansa has sharply criticised the planned acquisition of German leisure airline Condor by Polska Grupa Lotnicza, the parent of Polish flag carrier LOT, labelling it an example of “dubious” state intervention that “distorts competition”.
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NewsAlaska Airlines not yet cutting capacity due to coronavirus
Alaska Airlines doesn’t plan to cut capacity for March and April, unlike many other airlines. It is still considering options to respond to the coronavirus epidemic that has hit the travel industry hard in the past month.
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NewsNorwegian cuts jobs and capacity amid ‘critical time’
Norwegian has disclosed plans to cut 3,000 flights between mid-March and mid-June, and is calling for action from authorities to “reduce the financial burden” on the airline sector.
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NewsAir France-KLM traffic fall in February shows first signs of impact
Air France-KLM figures showing traffic on Asia-Pacific routes down a quarter in February provide the first clear passenger data illustrating the impact on European carriers of the coronavirus outbreak.
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NewsQantas executives and board take pay cut
Qantas’ Alan Joyce has joined the growing list of airline chiefs taking pay cuts to tackle the coronavirus crisis. For the rest of the financial year (FY) ending 30 June 2020, Joyce will take no salary while the group executive management team will take a 30% pay cut. Likewise, the ...
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NewsHawaiian struggles with managing coronavirus crisis
Hawaiian Airlines is struggling with a dramatic decline in business due to the global COVID-19 epidemic, as passengers cancel both international and, increasingly, domestic travel in an effort to protect themselves from becoming infected.
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NewsSAA launches airline-wide consultation on job cuts
Administrators for South African Airways have launched a consultation covering its almost 5,000 staff members on job cuts as it bids to restructure its workforce for a slimmed-down operation.
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AnalysisFinnair lays out ambitious new sustainability strategy
Finnair has pledged to make environmental protection a core company value and halve its net carbon emissions by 2025, versus last year, under a new sustainability strategy.
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NewsCathay mulls cargo-only service on passenger jets to Japan
Following cuts made to its Japan passenger network, Cathay Pacific is considering operating cargo-only services on its passenger aircraft. In a notice sent out to its clients, Cathay’s cargo arm says it only expects passenger belly cargo operations to be impacted by recently-announced cuts. However, it is looking at ways ...
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NewsAir NZ withdraws earnings guidance on coronavirus uncertainty
Air New Zealand is withdrawing its full-year earnings guidance for 2020 “due to increased uncertainty surrounding the duration and scale of the Covid-19 outbreak.” The carrier disclosed on 24 February target earnings before other significant items and taxation of NZ$300-350 million ($189-220 million) for financial year 2020, with an estimated ...
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NewsGaruda working to mitigate coronavirus impact
Garuda Indonesia is seeking to deploy capacity on cargo routes and to renegotiate leases as it seeks to contain the hit of the coronavirus outbreak, The flag carrier intends to boost its cargo revenue and domestic capacity by redeploying aircraft previously used for Indonesia-China services that were suspended on 5 ...