Jamie Freed

Malaysia's AirAsia sees 2020 capacity at 45-60% of 2019 levels on virus hit

07 Jul 2020

KUALA LUMPUR/SYDNEY Malaysia's flagship budget carrier AirAsia Group Bhd expects its 2020 capacity to be just 45%-60% of last year's levels due to the coronavirus outbreak and to fill 70-75% of seats this year compared with the usual 85%.

Virgin Australia bondholders seek permission to put forward sale alternative

06 Jul 2020

SYDNEY Virgin Australia Holdings Ltd bondholders have applied to the Takeovers Panel for approval to allow them to make an alternative proposal to creditors for the sale of the airline to private equity group Bain Capital, the panel said on Monday.

Cathay Pacific considers drier storage options for unused planes

06 Jul 2020

SYDNEY Hong Kong's Cathay Pacific Airways Ltd said on Monday it was evaluating whether to send some of its aircraft to less humid locations for storage as it reviews the size of its fleet in light of the fall in demand due to the pandemic.

Bain Capital agrees with Virgin Australia administrator to buy struggling airline

26 Jun 2020

SYDNEY U.S. private equity group Bain Capital said on Friday it has agreed with the administrator of Virgin Australia Holdings Ltd to buy Australia's second-biggest airline for an undisclosed sum, banking on an aviation industry recovery.

Qantas cutting 20% of workforce and raising capital in coronavirus battle

25 Jun 2020

SYDNEY Qantas Airways Ltd is axing at least 20% of its workforce and intends to raise up to A$1.9 billion ($1.3 billion) of equity under a sweeping cost-saving plan prompted by the coronavirus pandemic.

Qantas to announce future direction soon, trying to avoid forced pilot job cuts -sources

22 Jun 2020

SYDNEY, June 22 Qantas Airways Ltd has told pilots it plans to make an announcement on the airline's future direction by the end of the month and that it hopes to avoid forced job cuts among flight crew, two people with knowledge of the matter told Reuters.

Virgin Australia administrator receives final offers from Bain, Cyrus

22 Jun 2020

SYDNEY Virgin Australia Holdings Ltd's administrator said on Monday that it had received final offers for Australia's second-biggest airline from Bain Capital and Cyrus Capital Partners and that it hoped to select a preferred bidder by June 30.

Air freight rates head back to earth as virus-driven boom cools

19 Jun 2020

SYDNEY/LOS ANGELES An air cargo boom driven by demand for protective gear against the coronavirus has peaked and rates, while still 50% above normal levels, are falling in a worrying trend for airlines relying on freight revenue in the absence of passengers.

Air freight rates head back to earth as virus-driven boom cools

19 Jun 2020

* Remain 40%-50% above normal but at risk of further declines

World News