Condor announced (22-Oct-2020) a meeting of creditors approved the company's restructuring plan, which will allow it to exit court protected restructuring at the end of Nov-2020. Condor CEO Ralf Teckentrup said the carrier will relaunch from 01-Dec-2020 as a "healthy company". The carrier's second protective shield plan was submitted to the Frankfurt am Main district court at the end of Aug-2020, covering measures undertaken to prepare for a future without Thomas Cook. The company has is already implemented a number of restructuring and cost-cutting measures, including a move to a new corporate headquarters and entering new collective agreements with all union, which will allow flexibility and efficiency while at the same time responsibly securing the jobs of approximately 4200 employees until at least Dec-2021. [more - original PR]
• What are the alternative ownership models to privatisation?
• What do governments need to consider when deciding whether airports should be privatised?
• What form should regulation take, in order to strike a balance between national and private interests?
• Who ‘owns” airport slots? How should slot policy be regulated and developed?
• What future is there for managing airport capacity that cannot meet demand? To prevent chaos and one that limits growth?
IAG stated (22-Oct-2020) its planned capacity for 4Q2020 is to be no more than 30% compared to 2019, and no longer expects to reach breakeven in terms of net cash flows from operating activities during 4Q2020. IAG stated "overall bookings have not developed as previously expected due to additional measures implemented by many European governments in response to a second wave of COVID-19 infection". [more - original PR]
Qatar Airways announced (22-Oct-2020) the delivery of three A350-1000s. Qatar Airways CEO Akbar Al Baker stated: "Due to COVID-19's impact on travel demand, we will continue to fly greener and smarter by keeping our fleet of Airbus A380 grounded, as it is not commercially or environmentally justifiable to operate such a large aircraft in the current market". The carrier now operates 52 A350s. [more - original PR]
Qantas Airways chairman Richard Goyder stated (23-Oct-2020) the "Key to the recovery from this crisis" for Qantas is Australia's borders, however, "Ultimately, the pace of that recovery is uncertain". Mr Goyder said: "In the past month, we've seen some positive signs of a fresh recovery" and the "lifting of some restrictions with New Zealand is very encouraging. So, too, is the potential for travel bubbles with parts of Asia". Mr Goyder said Qantas and Jetstar are "keeping a close eye on new markets that might open up as a result of these bubbles", and "may find that Korea, Taiwan and various islands in the Pacific are top Qantas destinations while we wait for our core international markets like the US and UK to re-open". [more - original PR]
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- If the first two decades of the century were transformational for the aviation industry, the 2020s will be revolutionary.