Hit by anti-government protests in June 2019 and COVID-19 disruptions, the Hong Kong Airport Authority (HKAA) saw net profits for Hong Kong International Airport (HKG) fall to HK$5.8 billion ($756 million), a 30% year-on-year decline for fiscal 2019, which ended March 31.
The selection of Bain Capital as the successful bidder for Virgin Australia means the airline will survive in a smaller form and will broadly follow the strategic blueprint developed by the current management team.
Mexico’s government has not yet heeded calls from the country’s airlines that they need financial support to weather the COVID-19 crisis, and its only full-service carrier Aeromexico has had to formally state it will not seek Chapter 11 bankruptcy protection.
Dutch carrier KLM has secured a total of €3.4 billion ($3.8 billion) in government support through a state-guaranteed loan and a direct loan to help it withstand the COVID-19 crisis, adding to the €7 billion France has granted to sister airline Air France.
Six unions representing a large cross-section of the U.S. airline industry have urged federal lawmakers to extend CARES Act payroll support until March 31, 2021, warning mass layoffs will be “inevitable” unless additional funds are forthcoming.
Flag-carrier Royal Jordanian Airlines saw its first-quarter loss widen to 25.5 million dinars ($36 million), compared to the 5 million-dinar loss posted during the year-ago period. The carrier said the increased loss is mostly due to the COVID-19 pandemic, which has caused challenges it cannot overcome without government support.
Continuing strong demand for cargo related to the COVID-19 pandemic has encouraged Emirates Airline to modify some of its Boeing 777-300ER fleet.
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