Thai Airways International (THAI) reported a net loss of 21.5 billion baht (US$712 million) for the three months to September 30, 2020, a deterioration from a net loss of 4.7 billion baht a year ago. Read More » Revenue fell 91.7%, to 3.7 billion baht, but expenditure was cut by 59.5%, to 19.4 billion baht, THAI said in a regulatory filing to the Stock Exchange of Thailand (SET) yesterday. "In the third quarter of 2020, THAI continued to strengthen measures to reduce costs and mitigate the impact of the COVID 19," the company said.
In notes accompanying the financial accounts THAI said it was "in the process of accelerating the preparation" of its business rehabilitation plan and expected to present it to the Central Bankruptcy Court "by the fourth quarter of 2020 or within the first quarter of 2021". The company went to the Central Bankruptcy Court in May to restructure its business as it laboured under a heavy debt burden and after the government baulked at providing a cash bailout. At September 30, 2020, the company's current liabilities exceeded current assets by 274 billion baht, the financial accounts showed. It also reported a capital deficiency of 40 billion baht.
Taiwan's China Airlines (CAL) said it carried 29,060 passengers in October, down 1.4% from 29,472 in September. The SkyTeam alliance member's monthly traffic report showed capacity rose 19% while demand dipped 1.7%. Passenger load factor fell four percentage points, to 19%, in October from 23% in September.
CAL rival, EVA Air, recorded a decline in passengers carried for a second consecutive month in October, the airline's monthly traffic figures showed. The Taiwanese carrier flew 34,971 passengers for the month, down 4% in September. Capacity was up 5.2% month-on-month, but demand slid 4.9%. As a consequence, passenger load factor slipped by 2.1 percentage points to 20.2% in October from 22.3% in September.
All Nippon Airways (ANA) said yesterday it planned to operate 17% of its pre-COVID-19 international schedule in December 2020 and January 2021, up marginally from 16% this month. Additions to the schedule included boosting the Tokyo Haneda-Honolulu route from two round trips per month to two round trips per week in December – as well as extra flights over the Christmas/New Year period – before increasing capacity to 17 return services in January. "ANA will continue to monitor local immigration restrictions and quarantine guidelines as well as demand trends and travel viability as it decides on the frequency of flights and when to resume certain routes," the airline said.
Japan Airlines (JAL), in a schedule update, said yesterday it would operate 19% of its pre-COVID-19 international schedule in December 2020 and January 2021. This was a reduction from a projected 22% for those two months in JAL's previous international schedule update published in October. "The carrier will continue to review travel restrictions within each destination and update its international network plan, while asking for our customers' understanding during this unprecedented time," JAL said. JAL is flying 18% of its pre-COVID-19 international schedule this month.
Indian carrier, SpiceJet, yesterday reported a net loss of 1.1 billion rupees (US$14.8 million) for the three months to September 30, 2020, an improvement from a net loss of 4.6 billion rupees 12 months ago. Revenue from operations fell 58%, to 13.1 billion rupees, SpiceJet said in a regulatory filing to the Bombay Stock Exchange. The LCC is operating 52% of its pre-COVID-19 schedule and had 17 aircraft, including three wide-bodies, flying cargo services. "Going forward, as our cargo business continues to expand, passenger demand further improves, travel restrictions are being eased and the 737 MAX returns to service we hope the recovery will be much quicker and stronger," SpiceJet managing director, Ajay Singh, said in a statement. "Though COVID-19 cases continue to rise, I believe the worst is behind us."
India's Directorate General of Civil Aviation (DGCA) yesterday lifted the capacity restriction for the country's domestic carriers to 70%, from 60% previously, effective immediately. The 60% limit had been in place since the start of September and last week was extended by three months to February 24, 2021. The DCGA statement said the decision to lift capacity was made after a "review of the current status of scheduled domestic operations against passenger demand for air travel". When the government allowed domestic flights to resume in May, capacity was initially limited to 33% before increasing to 45% in June and 60% in September.
