aviation

The move comes as Cathay contends with a slump in traffic brought on by the coronavirus outbreak and the travel restrictions that ensued.

SIA secured $8.8 billion through the competition of the rights issue on Friday (June 5). It has raised a further $900 million through long-term loans secured on some of its Airbus A350-900 and Boeing 787-10 aircraft.

Singapore Airlines (SIA) has announced on Friday that it expects to report a “material operating loss” for 4QFY19/20, and the full year for FY19/20 when it releases its unaudited financial results on May 14.

On April 15, the director general of the World Health Organization (WHO), Tedros Adhanom Ghebreyesus, made two Twitter postings that are cru­cial for the resumption of econom­ic activity. His tweets listed the observance of six condit

SATS says it is now expecting its profits for the quarter to plunge by approximately 60% to 70% compared to last year. This will correspondingly result in a reduction of up to 25% for the group’s full-year results.

Tony Fernandes said in an Instagram post that he and Executive Chairman Kamarudin Meranun “will not be taking a salary during this period”, while staff from across the business “have accepted temporary pay reductions of anywhere between 15-75%.

In light of the worsening situation, the SIAEC Board has also volunteered a deeper reduction of 25% in fees accruing with effect from Apr 1 in solidarity with its management and staff.

Delta Air Lines Inc is the top borrower this month, obtaining US$5.6 billion, followed by Singapore Airlines, which secured a S$4 billion bridge loan

Jetstar Asia says it has been working with the Ministry of Finance, the Public Service Division, and the Civil Aviation Authority of Singapore to find temporary job opportunities offered by the public agencies and the private sector institutions.

Recently, Malaysia Airlines (MAS) group chief financial officer Boo Hui Yee told its 13,000 employees that many airlines are now at risk of going bankrupt, and the national flag carrier is no different.