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Showing posts with the label Airlines.

News | Business | Airlines: Delta Posts Almost $1.2 Billion Quarterly Loss

  cnbc.com Delta posts nearly $1.2 billion quarterly loss, expects to break even in June as bookings improve Leslie Josephs 3 minutes A Delta Airlines Boeing 757-251 approaches Washington Ronald Reagan National Airport (DCA) in Arlington, Virginia on February 24, 2021. Daniel Slim | AFP | Getty Images Delta Air Lines on Thursday reported another quarterly loss but said it expects to reach break even in June as travel demand rebounds from a deep pandemic slump. Here's how Delta performed in the first quarter compared with what Wall Street expected, based on average estimates compiled by Refinitiv: Adjusted results per share: a loss of $3.55 versus an expected loss of $3.17 a share Total revenue: $4.15 billion versus expected $3.91 billion in revenue Delta and its competitors continue to lose money but have grown upbeat about an improvement in bookings as more travelers are vaccinated, travel restrict

News | Hong Kong Business: Cathay Pacific Airways Reported an Annual Record Loss of $2.8bn on the 2020.

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  bbc.com Cathay Pacific posts record $2.8bn loss for 2020 BBC News 3 minutes image copyrightGetty Images Hong Kong’s Cathay Pacific Airways has reported a record annual loss of $2.8bn (£2bn) for 2020. Its poor results were due to a sharp downturn in travel during the pandemic along with major restructuring costs. Cathay Pacific had previously warned it expected its second-half losses to be worse than the record first-half loss of $1.3bn. Last year's loss compared with a profit of $220m in 2019, when profits were hit by political turmoil in Hong Kong. Cargo was the best performer for the airline, though it too saw a downturn, because the reduction in passenger flights, which also carry cargo, caused a reduction in capacity. "Our short-term outlook continues to be challenging. However, we remain absolutely confident in the long-term future and competitive position of our airlines," the airline

News | Business |Airlines: Owner of IAG Makes a Call For Digital Health Passes.

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  bbc.com British Airways owner IAG calls for digital health passes BBC News 3-4 minutes image copyrightGetty Images British Airways owner IAG has called for digital health passes "to reopen our skies safely" as it posted a record loss for 2020 due to Covid disruption. IAG posted an operating loss of €7.4bn (£6.5bn) for last year after the pandemic grounded many of its flights. UK-focused airlines got a boost this week from government plans for travel markets to possibly reopen from mid-May, prompting a flood of bookings. But uncertainty remains about what routes will be available. The airline group - which also owns Iberia, Aer Lingus and Vueling - called for "a clear roadmap for unwinding current restrictions when the time is right." "We're calling for international common testing standards and the introduction of digital health passes to reopen our skies safely," sa

News | Business | Companies: EasyJet warns of heavy losses and more flight cuts

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  Gordon Corera 3-4 minutes - Source: BBC Image copyright Reuters EasyJet has warned it faces losses of more than £800m this year and that it expects to fly at just 25% of normal capacity into next year. Although the airline said in a trading update it had taken tough action to cut costs, the warning underlines the continuing challenges for the industry. Sky News has reported that EasyJet has signalled to the government that it may need more financial support. There was no reference about needing state aid in the trading statement . However, chief executive Johan Lundgren said: "Aviation continues to face the most severe threat in its history and the UK government urgently needs to step up with a bespoke package of measures to ensure air

New | Business | Airlines Jobs: 'Hundreds of thousands' of airline jobs at risk

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  3 minutes - Source: BBC Image copyright Reuters Image caption The IATA downgraded its forecasts after "a dismal end to the summer travel season" Hundreds of thousands of aviation jobs are at risk without more state aid, a global industry body has warned. The International Air Transport Association (IATA) downgraded its 2020 traffic forecasts, after "a dismal end to the summer travel season". The association, which represents 290 airlines, says it expects traffic to be 66% below the level it was in 2019. The IATA estimates that it will be at least 2024 before air traffic reaches pre-pandemic levels. A second surge in Covid-19 cases and more g

News | Business | Airlines. The airline founder building Asia’s next super app

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Justin Harper BBC  3-4 minutes - Source: BBC Image copyright Getty Images AirAsia’s founder Tony Fernandes is building what he hopes will be the region’s next "super app" as he deals with the coronavirus travel downturn. He wants to rival the likes of Grab, GoJek and WeChat with an all-in-one app for food delivery, shopping, payments, entertainment and travel. As the airline’s boss, he has been looking at new ways to generate income while his planes were grounded. AirAsia has struggled during the pandemic and cut 30% of its staff. In an interview with the BBC, Mr Fernandes said he has spent his time during the travel slump improving the AirAsia app and the company's payments platform BigPay. "The downturn was a blessing in disguise in some ways as it a

News | Business | Airlines : Airlines call for joint US-EU virus testing scheme

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3-4 minutes - Source: BBC Image copyright Getty Images Major airlines have asked for a joint coronavirus testing programme, so that travel may resume between the US and Europe. The owner of British Airways and United Airlines are among the carriers that have signed a letter to US and European Union leaders. Currently travel between Europe and the US is largely barred. Carriers are struggling to survive as the coronavirus pandemic has severely disrupted global travel. In a letter sent on Tuesday to US and European governments, major airline chief executives called for a US-EU testing programme for passengers making trans-Atlantic trips. Signees of the letter include bosses of International Airlines Group (IAG) - which owns British Airways - American Airlines, United Airlines and

News | Business | Airlines: Qantas to cut 6,000 jobs due to virus impact

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5-7 minutes Source: BBC Image copyright Getty Images Image caption Australia's national carrier says it has been hit "very hard" by the virus Qantas will axe 6,000 jobs as part of its plans to survive the coronavirus pandemic, the airline says. The cuts equate to about a fifth of the airline's workforce prior to the Covid-19 crisis. In March, it furloughed more than 80% of its staff. Australia's national carrier said the collapse in global air travel had devastated revenues. Last week, the Australian government said its border would most likely remain closed into next year. It prompted Qantas to cancel all international flights until la

News | Business | Airlines: EasyJet plans thousands of job cuts

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4-5 minutes - Source: BBC Image copyright TF-Images EasyJet is to cut up to 30% of its workforce as it struggles to cope with the collapse in demand for air travel caused by the coronavirus pandemic. The airline did not say exactly how many jobs would go, but it employed 15,000 people at the start of 2020. Pilots' union Balpa reacted angrily, describing the move as an "ill-considered knee-jerk reaction". EasyJet, which has big operations at Gatwick and Luton airports, confirmed it would restart flights on 15 June. However, it said that levels of market demand seen in 2019 were not likely to be reached again until 2023. It added that in the coming days, it would launch an employee consultation process on the planned job cuts. It grounded its entire fleet in March as global t

News | Business | Airlines: Ryanair flyers must ask for loo as flights ramp up

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3-4 minutos - Source: BBC Media captionMichael O'Leary said passengers were unlikely to observe a 14-day travel quarantine Ryanair passengers will have to ask to use the toilet as new safety measures are introduced by the airline. The carrier plans to reintroduce 40% of flights from 1 July, subject to travel restrictions being lifted and safety measures being brought in at airports. The airline will operate nearly 1,000 flights a day, bringing back nearly all of its pre-Covid 19 route network. Other new rules include face coverings being worn by all crew and passengers and cashless on-board transactions. Queues for the toilet will be banned during flights and passengers will have to request access from crew members. Ryanair will ask its passengers to check in online and bring fewer bags, while they will also have to download their boarding pass to a smartphone. On arrival at the airport, people will have their tempe