Strategy – Page 155
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NewsLion Air delaying decision on IPO
Indonesia’s Lion Air Group has put on hold plans for an initial public offering, a source tells Cirium. The company was expected to make the call at the end of February, but the person says some investors have been reluctant to hold face-to-face meetings amid the coronavirus outbreak. Moreover, it ...
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NewsBangkok Airways’ 2019 profit up despite dip in passenger revenue
Bangkok Airways boosted operating profit 18% to Bt1.68 billion ($53.2 million) last year, despite a decline in revenue from the passenger segment. Revenue rose 2.4% to Bt28.6 billion. However, passenger revenue fell 6.9% to nearly Bt18.9 billion, which the carrier attributed to a strengthening of the Thai baht against major ...
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NewsEuropean regulators open new state aid probe into Alitalia loan
European Commission competition regulators have opened an in-depth state aid investigation into a €400 million ($438 mlllion) loan granted by the Italian state to Alitalia.
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NewsAirAsia X to renegotiate aircraft leases, defer A330neos
AirAsia X will ask lessors for lease reductions across its entire fleet as the coronavirus crisis puts a strain on its business. The Malaysian low-cost long-haul carrier has targeted a 30% lease reduction and plans to renegotiate maintenance reserves. It is also seeking the early return of five leased aircraft ...
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NewsStrong IAG full-year profits dip but coronavirus clouds 2020 outlook
British Airways and Iberia parent IAG’s operating profit before exceptional items slipped 5.7% for the full year in 2019 to €3.29 billion as its fuel costs rose.
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NewsJakarta mulls debt restructuring for Garuda
Indonesia is looking to restructuring Garuda Indonesia’s debts as the maturity of one of its bonds, with a face value of $500 million, draws close. “Garuda at this point of time is under extraordinary pressure as [some of its] debt are maturing. And we will be sure to restructure [the ...
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NewsAirAsia X cuts 2019 loss despite revenue decline
AirAsia X narrowed its operating loss to MYR90.1 million ($21.3 million), despite a decline in passenger numbers which affected its total revenue. The loss posted in 2019 is an improvement to the MYR204 million loss made in 2018. Revenue for the year ended 31 December 2019 declined 4% to MYR4.4 ...
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NewsNok Air optimised fleet and narrowed 2019 losses
Nok Air saw efficiency gains from implementing a turnaround programme last year and narrowed financial losses, but ended 2019 in a weaker cash position. The Thai low-cost carrier says it is expanding route and flight network, aircraft utilisation rate and “efficiency in business operation”, while reducing its fleet will allow ...
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NewsUS airlines could experience short-term hit from coronavirus
While Asian airlines have borne the brunt of the coronavirus crisis so far, US carriers are closely monitoring the situation, and will likely take a short-term loss as the US government sends mixed messages and bookings begin to decline.
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NewsJambo Jet boss named permanent chief executive of Kenya Airways
Kenya Airways has confirmed Allan Kilavuka, the head of its budget unit JamboJet, as its new chief executive and group managing director on a permanent basis.
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NewsAirAsia slips to full-year loss
AirAsia Group has reported a full-year net loss of MYR286 million ($67.9 million) for 2019, after a MYR1.7 billion net profit the previous year. The airline group says the negative result was due partly to “accounting treatment” associated with its move from owning to leasing aircraft, and partly to losses ...
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NewsAir New Zealand maintains profitability despite slowdown
Air New Zealand has maintained profitability even as it adapts to a lower growth environment, reporting a NZ$198 million ($124 million) EBIT for the six months ended 31 December 2019, down from NZ$217 million in the year-ago period. “Our capacity discipline on existing routes, stimulation of leisure traffic with the ...
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NewsJet fuel prices hit two-year lows
The price of jet kerosene is continuing to move sharply lower in line with weaker crude, amid mounting concerns about the impact of the coronavirus on global economic growth.
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NewsLufthansa puts in hiring freeze and unpaid leave offer to counter coronavirus hit
Lufthansa Group is implementing a hiring freeze and offering staff unpaid leave as part of cost-cutting measures amid the impact on air travel demand from the coronavirus outbreak. While the airline group says it is too early to estimate the earnings impact of the coronavirus outbreak, its network operators Lufthansa, ...
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NewsChina Eastern launches new carrier with C919s and ARJ21s
China Eastern Airlines has unveiled its new subsidiary, OTT Airlines, which will mainly operate Chinese-made aircraft, including Comac’s ARJ21 regional jet, and the C919 narrowbody. OTT, which is wholly-owned by China Eastern, will be based at Shanghai Hongqiao Airport, and will primarily serve the Yangtze River Delta region and other ...
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NewsThai AirAsia parent slips to loss in 2019
Thai AirAsia’s parent company posted an operating loss of Bt100 million ($3.14 million) for the whole of 2019, as costs outpaced revenues. This contrasts with a Bt660 million operating profit in 2018. Asia Aviation’s revenue for the year ended 31 December 2019 rose 3% to Bt41.6 billion. The company attributed ...
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NewsAir New Zealand debuts bunk bed concept for economy class
Air New Zealand has filed patent and trademark applications for full-length sleep pods in economy class, as it mulls installing them on its ultra long-haul routes. Unveiling the Economy Skynest, the carrier says it will decide whether or not to install the product after assessing the performance of its upcoming ...
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NewsUnited withdraws 2020 guidance ahead of its investor day
United Airlines has withdrawn the full-year 2020 guidance it disclosed on 21 January as part of its fourth-quarter 2019 earnings report because of unexpected business losses from the coronavirus outbreak in the Asia Pacific region. The Chicago-based airline had previously expected its full-year 2020 adjusted earnings per share to be ...
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NewsQatar strikes deal to restore American Airlines partnership
Middle East carrier Qatar Airways has struck a revived codeshare deal with its Oneworld partner American Airlines, two years after the US carrier ended their co-operation.
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NewsDelta increases stake in Korean Air parent company past 10%
Delta Air Lines has bumped up its stake in Korean Air’s controlling shareholder to 11%. A stock exchange disclosure by Hanjin KAL indicates that the US carrier owns 6.5 million of its shares as of 20 February, up from 5.5 million shares or 9.21% previously, through “acquisition of shares due ...