AirAsia Group announced (11-Aug-2020) a "pick up in key operational metrics" in Jun-2020 compared to May-2020, including tripling the number of passengers carried by AirAsia Malaysia, and doubling the number of passengers carried by Thai AirAsia. [more - original PR]
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As a cornerstone and pre-eminent strategic event in the CAPA Summit global series, we are pleased to announce the virtual CAPA Australia Pacific Aviation Summit, beaming in a high calibre of local and international speakers from all corners of the globe.
CAPA’s World Aviation Outlook Summit, held in conjunction with the CAPA World Aviation Awards for Excellence Gala Dinner provides a global aviation outlook that reviews the commercial and operational pillars to drive strategic decision-making in 2021.
Mesa Air Group reported (10-Aug-2020) net income of USD3.4 million in Q3FY2020, compared to USD3 million in Q3FY2019. Total operating expenses fell 64.5% year-on-year to USD57.9 million, due to fewer operations and maintenance expenses, reflecting the impacts of COVID-19 and the federal grant received through the Payroll Support Agreement. Mesa Air Group chairman and CEO Jonathan Ornstein said the group reported "both a profit and positive cash flow", which it attributed to "our relentless focus on low costs and reliable operations, the construct of our agreements with our major partners, and the dedication and hard work of all our employees". Despite "significant opportunities ahead", Mr Ornstein said the group is still faced with "COVID-19 related challenges". He explained: "Our fleets continue to be utilised below 60%, aircraft financing has become more difficult, and the recovery time projected for demand to return to pre-COVID-19 levels". [more - original PR]
Iran Air, via its official Twitter account, announced (11-Aug-2020) the appointment of Alireza Barkhor as CEO, succeeding Touraj Dehghani Zanganeh who was appointed to lead the Iran Civil Aviation Organization. Positions previously held by Mr Barkhor include deputy commander of air force operations and chairman of Saha Airlines.
Sydney Airport stated (10-Aug-2020) it is anticipated that the group's financial performance will continue to be affected due to the likely adverse impact of the coronavirus pandemic on operations. In respect of operating costs (excluding security recoverable costs), the group expects to maintain tight discipline and is targeting at least a 35% reduction for the 12 months from 01-Apr-2020. The group is targeting a capital investment range of AUD150 million (USD107.3 million) to AUD200 million (USD143.1 million) for the 12 months from 01-Apr-2020, compared to a historical run rate of approximately AUD350 million (USD250.4 million) p/a. The focus for the next 12 months is on essential projects targeting safety, maintenance and asset resilience. No final distribution is expected to be paid for 2020. The board will update on the outlook for future distributions as more clarity emerges on recovery from the pandemic. [more - original PR]
Sydney Kingsford Smith Airport announced (11-Aug-2020) a fully underwritten pro rata accelerated renounceable entitlement offer, with retail rights trading, to raise AUD2 billion (USD1.4 billion). The airport stated the entitlement offer substantially reduces net debt, supports its commitment to maintaining a strong investment grade credit rating, further increases liquidity available to the airport and is expected to enhance the financial resilience of Sydney Airport. Combined with existing liquidity, the entitlement offer proceeds will cover debt maturities, as well as be used for general corporate purposes, including but not limited to capital expenditure. [more - original PR]
Air Arabia reported (10-Aug-2020) a net loss of AED169 million (USD46 million) in 1H2020, reflecting the significant impacts of COVID-19 on the airline. Turnover was AED1.02 billion (USD277.7 million), a decline of 53% year-on-year. Air Arabia chairman Abdullah Bin Mohamed Al Thani said the carrier commenced 2020 with "strong performance promising another year of growth and profitability", however the "full impact of COVID-19 on airline operations was fully materialised in the second quarter as a result of border closures and flights suspension across all key markets". He noted this change has "led airlines to focus on controlling cost while supporting global relief efforts with repatriation and aid flights". Air Arabia handled 2.48 million passengers in 1H2020, down 57%. Mr Al Thani concluded: "The prospects of the global aviation industry remain strong and will continue to play a vital role in the global economic recovery. While we started to see gradual opening of selective markets around the world, it is now clear that COVID-19 will continue to have a lasting impact on the aviation industry and the path to recovery is expected to be gradual. At Air Arabia, while we remain in a strong position weathering the COVID-19 impact, we continue to look at this challenge with a long-term view keeping business continuity as the prime focus". [more - original PR]
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