flee 5 Report post Posted July 14, 2020 Delta posts huge second-quarter loss as pandemic takes toll Delta Air Lines posted an adjusted pre-tax loss of $3.9 billion for the second quarter, even before fleet restructuring costs and investment write-downs widened its overall coronavirus crisis losses incurred for the period. The adjusted loss figures excludes a further $3.2 billion of items directly related to the impact of Covid-19 and the company’s response, including fleet-related restructuring charges, write-downs relating some of Delta’s equity investments, and the benefit of the CARES Act grant recognised in the quarter. Total adjusted revenue, excluding refinery sales, plummeted 91% to $1.2 billion for the three months ending 30 June. That was based on capacity cuy by 85% during the quarter. Operating costs at an adjusted level were cut 53% to $5.5 billion for the period. https://www.flightglobal.com/strategy/delta-posts-huge-second-quarter-loss-as-pandemic-takes-toll/139280.article Share this post Link to post Share on other sites
flee 5 Report post Posted July 15, 2020 MAHB: Fliers, aircraft movements doubled in first nine days of July https://www.malaymail.com/news/malaysia/2020/07/15/mahb-fliers-aircraft-movements-doubled-in-first-nine-days-of-july/1884647 Share this post Link to post Share on other sites
flee 5 Report post Posted July 16, 2020 SIA Group passenger carriage plunges 99.3% in June as COVID-19 continues to impact demand SINGAPORE: The Singapore Airlines (SIA) Group recorded a 99.3 per cent year-on-year decline in passenger carriage in June, according to its operating results published on Wednesday (Jul 15). Overall results improved marginally from May despite travel demand continuing to be severely impacted by the COVID-19 pandemic as flights slowly began resuming last month. As border controls and travel restrictions remained in place around the world, overall passenger capacity was cut by 95.1 per cent and the passenger load factor fell to 12.2 per cent, said the group. This was an improvement over May's overall passenger capacity of 96.2 per cent and passenger load factor of 8.6 per cent. SIA's capacity was 94 per cent lower compared to last year's, with only a "skeletal network" of flights in operation, connecting Singapore to 24 metro cities. This was an increase from a capacity of 95.6 per cent and 14 cities in May, as transfers via Changi resumed. More: https://www.channelnewsasia.com/news/business/singapore-airlines-silkair-scoot-june-operating-results-covid-19-12935062 Share this post Link to post Share on other sites
flee 5 Report post Posted July 17, 2020 British Airways retires entire 747 fleet after travel downturn British Airways has said it will retire all of its Boeing 747s as it suffers from the sharp travel downturn. The UK airline is the world's largest operator of the jumbo jets, with 31 in the fleet. "It is with great sadness that we can confirm we are proposing to retire our entire 747 fleet with immediate effect," a BA spokesman told the BBC. Airlines across the world have been hit hard by coronavirus-related travel restrictions. "It is unlikely our magnificent 'queen of the skies' will ever operate commercial services for British Airways again due to the downturn in travel caused by the Covid-19 global pandemic," the spokesman added. More: https://www.bbc.com/news/business-53426886 Share this post Link to post Share on other sites
Kenny Sing 0 Report post Posted July 20, 2020 most if not all VLAs will be flying into sunset if recovery doesn't come in on time, Share this post Link to post Share on other sites
flee 5 Report post Posted July 29, 2020 Singapore Airlines reports S$1.12 billion net loss in Q1 as COVID-19 hits demand https://www.channelnewsasia.com/news/business/singapore-airlines-first-quarter-1-billion-net-loss-covid-19-12973458 Share this post Link to post Share on other sites
flee 5 Report post Posted August 13, 2020 MASkargo operates first cargo-in-cabin flight from Shanghai to Melbourne https://www.malaymail.com/news/money/2020/08/12/maskargo-operates-first-cargo-in-cabin-flight-from-shanghai-to-melbourne/1893386 Share this post Link to post Share on other sites
JuliusWong 0 Report post Posted September 8, 2020 Analysts: AirAsia may have to take rights issue route, but timing tricky https://www.theedgemarkets.com/article/analysts-airasia-may-have-take-rights-issue-route-timing-tricky Share this post Link to post Share on other sites
flee 5 Report post Posted September 19, 2020 Singapore Airlines pilots agree on up to 60pc pay cut to save jobs amid Covid-19 https://www.malaymail.com/news/singapore/2020/09/19/singapore-airlines-pilots-agree-on-up-to-60pc-pay-cut-to-save-jobs-amid-cov/1904632 Share this post Link to post Share on other sites
flee 5 Report post Posted September 24, 2020 Guillaume Faury: Airbus is in danger of collapse https://www.aerotime.aero/gabriele/25963-the-ceo-airbus-is-in-danger-of-collapse Share this post Link to post Share on other sites
JuliusWong 0 Report post Posted October 2, 2020 Malaysia Airlines to undergo urgent revamp https://www.thestar.com.my/business/business-news/2020/10/02/malaysia-airlines-to-undergo-urgent-revamp Share this post Link to post Share on other sites
Mohd Suhaimi Fariz 2 Report post Posted October 8, 2020 Malaysia to stop funding national carrier if lessor talks fail According to the latest document, under a “Plan B” scenario, Khazanah would “inject funds into Firefly directly to start new jet operations at Kuala Lumpur on a much smaller scale, focusing first on domestic services.” https://www.reuters.com/article/us-malaysia-airlines-restructuring-exclu/exclusive-malaysia-to-stop-funding-state-airline-if-lessor-talks-fail-letter-idUSKBN26S2DX Share this post Link to post Share on other sites
flee 5 Report post Posted October 8, 2020 Similar pressure as Airasia X is being applied to MAS lessors to cut a more sustainable leasing deal. It is interesting that Khazanah is thinking of abandoning MAG and start afresh with a small operation with Firefly. That is sort of admitting that it is not possible to turn the national carrier around even in the best of times. Now that we have the Covid-19 pandemic, MAS is more or less doomed and it is better to start another airline free of legacy issues. Share this post Link to post Share on other sites
JuliusWong 0 Report post Posted October 8, 2020 Malaysia Airlines's fate seems to be sealed..... MoF to leave struggling Malaysia Airlines’ fate to Khazanah, minister says ‘not looking at any support’ https://www.malaymail.com/news/malaysia/2020/10/08/mof-to-leave-struggling-malaysia-airlines-fate-to-khazanah-minister-says-no/1910678 Share this post Link to post Share on other sites
flee 5 Report post Posted October 8, 2020 Malaysia Airlines’ parent offers to retrain pilots, cabin crew for work in sales, IT KUALA LUMPUR, Oct 8 — Malaysia Aviation Group has offered its pilots, cabin crew and frontline employees affected by the Covid-19 pandemic a reskilling and upskilling scheme called MH EDGILE. According to the parent company of Malaysia Airlines Bhd, the programme is open to the group’s 2,000 employees and will train them to work in other areas such as facilities management and audit, or general and trainable areas such as sales and IT helpdesk. In a statement, MAG said the initiative was voluntary and applicants are subject to the selection criteria of the receiving department. https://www.malaymail.com/news/malaysia/2020/10/08/malaysia-airlines-parent-offers-to-retrain-pilots-cabin-crew-for-work-in-sa/1910734 Share this post Link to post Share on other sites
Timothy 1 Report post Posted October 8, 2020 3 hours ago, flee said: Now that we have the Covid-19 pandemic, MAS is more or less doomed and it is better to start another airline free of legacy issues. I thought that MAG was supposed to be that "fresh start" ? 58 minutes ago, flee said: Malaysia Airlines’ parent offers to retrain pilots, cabin crew for work in sales, IT KUALA LUMPUR, Oct 8 — Malaysia Aviation Group has offered its pilots, cabin crew and frontline employees affected by the Covid-19 pandemic a reskilling and upskilling scheme called MH EDGILE. According to the parent company of Malaysia Airlines Bhd, the programme is open to the group’s 2,000 employees and will train them to work in other areas such as facilities management and audit, or general and trainable areas such as sales and IT helpdesk. In a statement, MAG said the initiative was voluntary and applicants are subject to the selection criteria of the receiving department. https://www.malaymail.com/news/malaysia/2020/10/08/malaysia-airlines-parent-offers-to-retrain-pilots-cabin-crew-for-work-in-sa/1910734 What's the rationale for this ? Shouldn't MH be looking into creating new profit centers, ie Singapore Airlines going into F&B, AirAsia doing something with an App ... This offer shows how out of touch they are to "retrain" staff into roles which likely will be replaced by automation very soon anyway. Share this post Link to post Share on other sites
JuliusWong 0 Report post Posted October 8, 2020 1 hour ago, Timothy said: I thought that MAG was supposed to be that "fresh start" ? What's the rationale for this ? Shouldn't MH be looking into creating new profit centers, ie Singapore Airlines going into F&B, AirAsia doing something with an App ... This offer shows how out of touch they are to "retrain" staff into roles which likely will be replaced by automation very soon anyway. Agree with you on the point but who wants to eat MH horrible and downsized meal these days? Except for their satay and occasionally roti jala, others left too much to be desired for.......plus MH will face a lot of competition out there.....foodpanda and grabfood choices are enough to kill them off. Unless Singapore Airlines which can command premium price for their meal and flying experience...https://www.cnbc.com/2020/10/02/singapore-airlines-drops-flight-to-nowhere-but-will-sell-onboard-meals.html just don't see MH can pull this off easily. May result in greater loss. Lol..... Share this post Link to post Share on other sites
Chris Tan 0 Report post Posted October 9, 2020 On 10/7/2020 at 11:56 PM, Timothy said: What's the rationale for this ? Shouldn't MH be looking into creating new profit centers, ie Singapore Airlines going into F&B... Yes, I hear SQ's profits are through the roof now that they're delivering Dom Perignon to one's doorstep. MH would be foolish not to jump in with a satay delivery service.... Share this post Link to post Share on other sites
Alif A. F. 0 Report post Posted October 9, 2020 13 hours ago, Chris Tan said: Yes, I hear SQ's profits are through the roof now that they're delivering Dom Perignon to one's doorstep. MH would be foolish not to jump in with a satay delivery service.... Satay? What about those warung/gerai satay operators? Though I would love some packets of salted peanuts and orange juice though. Share this post Link to post Share on other sites
JuliusWong 0 Report post Posted October 10, 2020 Some lessors turn down Malaysia Airlines’ proposed restructuring plan https://www.malaymail.com/news/money/2020/10/10/some-lessors-turn-down-malaysia-airlines-proposed-restructuring-plan/1911365 Things getting critical.... Share this post Link to post Share on other sites
flee 5 Report post Posted October 10, 2020 48 minutes ago, JuliusWong said: Some lessors turn down Malaysia Airlines’ proposed restructuring plan https://www.malaymail.com/news/money/2020/10/10/some-lessors-turn-down-malaysia-airlines-proposed-restructuring-plan/1911365 Things getting critical.... I think that they don't believe MAG that the Malaysian government won't bail them out and are calling their bluff.... Share this post Link to post Share on other sites
Timothy 1 Report post Posted October 11, 2020 On 10/9/2020 at 4:11 PM, Chris Tan said: Yes, I hear SQ's profits are through the roof now that they're delivering Dom Perignon to one's doorstep. MH would be foolish not to jump in with a satay delivery service.... hahaha, but the main point is that SQ are trying to work with what they have. MAG has a few Central Kitchens around Malaysia, it wouldn't be far fetched to team up with a delivery service (Grab/Food Panda) to partner in their respective Cloud Kitchen programs. On 10/8/2020 at 4:53 PM, JuliusWong said: Agree with you on the point but who wants to eat MH horrible and downsized meal these days? Except for their satay and occasionally roti jala, others left too much to be desired for.......plus MH will face a lot of competition out there.....foodpanda and grabfood choices are enough to kill them off. Unless Singapore Airlines which can command premium price for their meal and flying experience...https://www.cnbc.com/2020/10/02/singapore-airlines-drops-flight-to-nowhere-but-will-sell-onboard-meals.html just don't see MH can pull this off easily. May result in greater loss. Lol..... this is partly in jest, but if KFC can bring in billions by selling Fried Chicken, satay could just be MH's moon shot 😄 Share this post Link to post Share on other sites
JuliusWong 0 Report post Posted October 14, 2020 Report: Khazanah says Firefly could become Malaysia’s new national airline https://www.malaymail.com/news/malaysia/2020/10/14/report-khazanah-says-firefly-could-become-malaysias-new-national-airline/1912645 KUALA LUMPUR, Oct 14 — Malaysia’s Khazanah Nasional has the option to channel funds to low-cost carrier Firefly which could become the country’s national airline if Malaysia Airlines was shut down, the head of the sovereign wealth fund was quoted as saying today. The comments by Shahril Ridza Ridzuan to the newspaper Berita Harian are the fund’s first public statements since it emerged that Malaysia Airlines’ parent company has warned that the flagship airline could be wound up if lessors did not agree to steep discounts...... Share this post Link to post Share on other sites
flee 5 Report post Posted October 19, 2020 As Covid-19 bites, AirAsia group CEO Tony Fernandes says 'cannot live in a cave for the rest of our lives' https://www.theedgemarkets.com/article/covid19-bites-airasia-group-ceo-tony-fernandes-says-cannot-live-cave-rest-our-lives Share this post Link to post Share on other sites
flee 5 Report post Posted October 20, 2020 Sources: Malindo Air to further downsize, reduce staff https://www.nst.com.my/business/2020/10/633539/sources-malindo-air-further-downsize-reduce-staff Share this post Link to post Share on other sites