Japan Airlines [JAL] has revised downwards its guidance for revenue and profit for the 12 months to March 31, 2020 after a sharp drop in passenger demand for international and domestic flights since February. Read More » The airline said in a statement today net profit for its full fiscal 2020 financial year was expected to be 53 billion yen (US$493 million), down from its previous forecast of 93 billion yen and 65% lower than the 150.8 billion yen achieved in the prior year.
Malaysia Airlines [MAS] will require passengers to wear protective masks to combat the coronavirus outbreak from tomorrow (April 23). The airline, which has suspended the bulk of its international and domestic services, said on its website a protective mask "of any kind that they are comfortable with", such as single ply, three ply, cloth and reusable, among others, had to be worn at all times during flights.
Air New Zealand [Air NZ] has scheduled an increase in domestic flights from Tuesday April 28, when the country's restriction of movement rules are lowered from Alert Level Four to Alert Level Three. Air NZ general manager for networks, Scott Carr, said in a statement today the "slight adjustments" included extra services on the Auckland-Napier and Auckland-Tauranga routes as well as additional capacity between Christchurch and Dunedin.
Virgin Australia [VA] shareholder and alliance partner, Etihad Airways, said its own financial challenges amid the coronavirus pandemic meant it was unable to provide additional financial support to the Australian carrier, according to media reports. The Abu Dhabi-headquartered carrier's statement said it was disappointed VA had entered voluntary administration yesterday, but that it remained "open for constructive discussions on a potential re-launch of the company".
The Securities Investors Association of Singapore [SIAS] has raised questions about Singapore Airlines' [SIA] proposed S$15 billion (US$10.5 billion) capital raising, the Straits Times newspaper reported yesterday. In a letter to SIA Group CEO, Goh Choon Phong, SIAS president and CEO, David Gerald, asked for an explanation behind the decision to raise cash from shareholders, rather than via debt, as well as why there was such a large proportion of the rights issue earmarked for capital expenditure, the newspaper said.
An International Air Transport Association [IATA] survey of recent travellers from 11 countries found 69% of respondents indicated they could delay a return to travel until their financial situation stabilised. IATA director general and CEO, Alexandre de Juniac, told reporters in a conference call overnight the survey highlighted the need for "confidence-building measures" to deal with a "slower recovery than we had previously anticipated"
