Edition:
India
Page 1

Singapore Airlines Posts Q1 Loss Attributable Of S$1,123 Million

Wednesday, 29 Jul 2020

July 29 (Reuters) - Singapore Airlines Ltd ::Q1 LOSS ATTRIBUTABLE S$1,123 MILLION.Q1 REVENUE S$851 MLN VS S$4,102.2 MLN.RECOVERY TRAJECTORY IN INTERNATIONAL AIR TRAVEL SLOWER THAN INITIALLY EXPECTED.CURRENT VIEW FOR PLANNING IS THAT BY END OF FY20/21, GROUP'S PASSENGER CAPACITY MAY REACH LESS THAN HALF OF PRE-COVID-19 LEVELS.CONTINUE TO ENGAGE WITH AIRCRAFT MANUFACTURERS TO NEGOTIATE ADJUSTMENTS TO DELIVERY STREAM OF EXISTING AIRCRAFT ORDERS.Q1 GROUP REVENUE DECLINED 79.3% TO S$851 MILLION.GLOBAL AIRFREIGHT CAPACITY IS ANTICIAPTED TO REMAIN CONSTRAINED IN NEAR TERM.INTEGRATION OF SILKAIR INTO SIA REMAINS ON TRACK.CONTNUES TO PURSUE COST MANAGEMENT MEASURES & WILL ALSO EXPLORE ADDITIONAL MEANS TO SHORE UP LIQUIDITY.REACHED AGREEMENT WITH AIRBUS ON ADJUSTMENT TO DELIVERY & SCHEDULE PROGRESS PAYMENTS, DISCUSSIONS WITH BOEING ONGOING.ARE REVIEWING THE POTENTIAL SHAPE AND SIZE OF CO'S NETWORK OVER LONGER TERM.EXPECT TO COMPLETE REVIEW OF SHAPE AND SIZE OF CO'S NETWORK BY HALF-YEAR.REVIEW OF NETWORK LIKELY TO IMPAIR CARRYING VALUE OF OLDER GENERATION AIRCRAFT, PARTICULARLY A380 WHICH WOULD ACCOUNT FOR ABOUT S$1 BILLION.

Airasia Group Says Do Not Intend To Take Any New Aircraft Deliveries This Year

Wednesday, 29 Apr 2020

April 29 (Reuters) - Airasia Group Bhd ::RESUMED SCHEDULED DOMESTIC FLIGHTS IN MALAYSIA, TO BE FOLLOWED BY THAILAND ON 1 MAY. PHILIPPINES 16 MAY, & INDONESIA 7 MAY, ON APPROVAL.DO NOT INTEND TO TAKE ANY NEW AIRCRAFT DELIVERIES THIS YEAR WITH TARGET TO END 2020 WITH 242 AIRCRAFT, NET REDUCTION OF 1 AIRCRAFT FROM 2019.RELOOKING CO'S ORDERBOOK WITH AIRBUS.RESTRUCTURED MAJOR PORTION OF THE FUEL HEDGES AND STILL IN PROCESS OF RESTRUCTURING REMAINING EXPOSURE.MEASURES TO MANAGE COST; MANAGEMENT, SENIOR STAFF TO MAKE SALARY SACRIFICE, RE-NEGOTIATE CONTRACTS AND DEFER ALL NON-ESSENTIAL SPENDING.EXPECT ALL COST MANAGEMENT INITIATIVES TO RESULT IN AT LEAST A 30% COST REDUCTION YOY IN 2020.HOPE TO CONTINUE TO SUSTAIN 1.3 MILLION JOBS & COUNTING IN SECTOR IN REGION, DIRECTLY & INDIRECTLY.

Allegheny Technologies Says HPMC Is Now Comprised Of Specialty Materials And Forged Products Businesses, As Well As ATI Europe Distribution Operations

Tuesday, 17 Mar 2020

March 17 (Reuters) - Allegheny Technologies Inc ::ALLEGHENY TECHNOLOGIES - HPMC IS NOW COMPRISED OF SPECIALTY MATERIALS AND FORGED PRODUCTS BUSINESSES, AS WELL AS ATI EUROPE DISTRIBUTION OPERATIONS.ALLEGHENY- NEW AAS SEGMENT COMBINES SAC BUSINESS, INCLUDING TITANIUM OPERATIONS IN RICHLAND, WA AND ALBANY, OR, WITH ATI'S FORMER FRP BUSINESS SEGMENT.ALLEGHENY TECHNOLOGIES - FINANCIAL RESULTS OF AEROSPACE-GRADE TITANIUM PLATE PRODUCTS ALSO TRANSFERRED FROM HPMC TO AAS EFFECTIVE JAN 1.

Markets

  • Sectors
  • Asia
  • U.S.
  • Europe

Sector Summary