Asia Weekly Roundup: Feb. 05

Vietjet Ends 2020 With Slim Profit Thanks To Cargo, Cost-Cutting

Credit: Vietjet Air

Vietjet Air ended pandemic-stricken 2020 with a VND70 billion ($3 million) post-tax profit, boosted by strong ancillary revenue which accounted for 50% of all income.

JAL Forecasts Larger $2.9B Loss For 2020

Credit: Rob Finlayson

Japan Airlines (JAL) now expects to record a net loss of ¥300 billion ($2.9 billion) for 2020 after its hopes for traffic recovery in the current quarter were dashed by a resurgence of COVID-19 cases in the country.

Philippine Airlines Reveals Details Of Major Job Cuts

Credit: Philippine Airlines

Philippine Airlines has confirmed it will have to cut its workforce by almost a third as a result of the COVID-19 crisis.

U.S., S. Korea Mull Compensation For Global Hawk Failures

Credit: USAF

The U.S. and the Republic of Korea are discussing how to compensate South Korea for RQ-4 Block 30 Global Hawks that have suffered a series of problems. 

Virgin Australia Postpones Plans For International Flights

Credit: Virgin Australia

Virgin Australia has pushed back its target for resuming short-haul international flights as prospects for a two-way travel bubble with New Zealand appear to be fading.

Closed Borders Push Vietnam Airlines To $483M Loss

Credit: Joe Pries

Vietnam Airlines has posted a loss of VND11.1 billion ($483 million) for 2020 as border closures curtailed revenue from international flights. 

Asia-Pacific Connectivity Gets Boost As Panasonic XTS Satellite Goes Live

Credit: Panasonic Avionics

Inflight connectivity over the Asia-Pacific region is set to get a boost as a new extreme high throughput satellite (XTS)—APSTAR-6D—enters service over the next month. 

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China Eastern Airlines To Issue $1.7B In Private Shares

Credit: Boeing

China Eastern Airlines will issue 2.5 billion privates shares to its parent China Eastern Air Holdings, in a bid to raise CNY10.8 billion ($1.67 billion) and improve the company’s financial stability.   

Cargo Strength Helps Korean Air Post 2020 Operating Profit

Credit: Korean Air

Korean Air has managed to achieve an operating profit in 2020 despite the disruption of the COVID-19 crisis, and the South Korean carrier also succeeded in more than halving its annual net loss.  

Singapore Airlines Looks To Cargo, Network Growth To Sustain Revenue

Credit: Singapore Airlines

The Singapore Airlines (SIA) group reported a net loss of S$141.8 million for its fiscal 2020 third quarter (Q3), despite a 45% quarter-on-quarter improvement in passenger traffic. 

India’s Alliance Air To Add Domestic-Made Dornier 228 To Fleet

Credit: Hindustan Aeronautics Ltd.

Air India’s regional subsidiary Alliance Air is set to welcome two Dornier 228s made by local airframer Hindustan Aeronautics Ltd (HAL) to its all-turboprop fleet.

Asia-Pacific connectivity gets boost as Panasonic XTS satellite goes live, U.S., S. Korea mull compensation for global Hawk failures, Philippine Airlines reveals details of major job cuts, and more. A roundup of the week’s news in Asia.

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