Qantas Airways announced (02-Mar-2010) that CFO, Colin Storrie, intends to step down and resign from the Board, effective 05-Mar-2010, in order to spend time with his family for personal and health reasons. Qantas, which will consider internal and external candidates to replace Mr Storrie (and has engaged advisers to assist), has appointed Gareth Evans as Acting Group Executive Finance for the Qantas Group until a permanent replacement for Mr Storrie is selected. Mr Evans is currently CFO of Qantas Airline. [more]
Qantas announces resignation of CFO
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CAPA Australia Pacific Aviation Summit highlights opportunities in Australia’s international market
A common theme in the CAPA Australia Pacific Aviation Summit 2016 in Brisbane on 4 and 5-Aug-2016 was opportunities in Australia’s international market. Australia is experiencing rapid inbound and outbound growth, opening up opportunities for airports, local airlines and foreign airlines.
Australia-China in particular is a market in the spotlight following 22% growth in inbound visitors from China in 2015. However, there are also opportunities to develop new routes to other Asian countries and the more mature markets in Europe and North America, driven partially by new aircraft technology.
The Summit attracted over 40 airlines and 40 airports. Jetstar Group CEO Jayne Hrdlicka and Qantas Group CEO Alan Joyce opened both days of the summit with stimulating keynote addresses to over 400 delegates.
Australia-Philippines market faces overcapacity concerns as Cebu Pacific, PAL plan further expansion
Passenger traffic between Australia and the Philippines grew by 39% in 2015, making it Australia’s fastest growing international market. The Australia-Philippines market is poised for more rapid growth driven by expansion at Cebu Pacific Air and Philippine Airlines (PAL).
PAL is planning to use its new A321neo fleet to launch new nonstop flights to Brisbane and potentially add a second frequency to Sydney. Cebu Pacific plans to launch service to Melbourne as it expands its A330-300 fleet.
However, overcapacity is a major concern. Cebu Pacific’s entrance has stimulated demand but impacted load factors and yields. In 2015 the average load factor on Australia-Philippines flights was less than 67%, including a dismal 60% at PAL and only 64% at Cebu Pacific.