Aviation industry and Covid-19

[Springal]

Next to no support? Surely they can and are using the furlogh scheme like any other company? Perhaps they could use previous years profits to cover the bad times? Or have they given all that to shareholders?

Parent company IAG sitting on a nice cash reserve. But of course they need to preserve that for their shareholders...

 

[Kinky Gerbil]

Parent company IAG sitting on a nice cash reserve. But of course they need to preserve that for their shareholders...

Which they are burning through at speed.

They lost 1.6 million to a fuel hedge fine for astart.

 

[Springal]

Which they are burning through at speed.

They lost 1.6 million to a fuel hedge fine for astart.

Last accounts had €7Bn cash on the balance sheet. That’s the equivalent of losing a tenner

 

[Weststander]

Last accounts had €7Bn cash on the balance sheet. That’s the equivalent of losing a tenner

You’re correct with that figure.

They’re burning cash at £173m a week at present (£9b a year).

 

[Kinky Gerbil]

Last accounts had €7Bn cash on the balance sheet. That’s the equivalent of losing a tenner

It was 9 billion when this started

 

[Kinky Gerbil]

Agree with this. Airlines are no different to thousands of other businesses that have been wrecked by this virus. They need to stop talking as though they’re entitled to a bailout. They’re a long, long way from being our most indispensable businesses.

They are far more indispensable than most considering we are an island nation

Anyway - it’s the staff talking like they are indispensable in the case of BA

 

[The Maharajah of Sydney]

A real wake up call from Qantas CEO Alan Joyce today.
"International flights might be possible by July 2021".
Whilst domestic flights are gearing up from the current 15% capacity towards the 70% level, the international market remains very much a basket case.
Announced today were a further 6,000 job losses,15,000 stood down until further notice, future plane orders cancelled and and a number of the existing fleet mothballed.
Was meant to arrive in the UK yesterday - will be waiting another year if the above comes to pass.

 

[Kinky Gerbil]

A real wake up call from Qantas CEO Alan Joyce today.
"International flights might be possible by July 2021".
Whilst domestic flights are gearing up from the current 15% capacity towards the 70% level, the international market remains very much a basket case.
Announced today were a further 6,000 job losses,15,000 stood down until further notice, future plane orders cancelled and and a number of the existing fleet mothballed.
Was meant to arrive in the UK yesterday - will be waiting another year if the above comes to pass.

Seems a weird position when everyone else is gearing up to start a partial return.

Is that down to the Gov/location of Aus?

 

[nicko31]

Seems a weird position when everyone else is gearing up to start a partial return.

Is that down to the Gov/location of Aus?

With AU borders basically locked till early 2021, Qantas will be largely surplus to requirements for a while except for domestic and NZ...

 

[The Maharajah of Sydney]

Seems a weird position when everyone else is gearing up to start a partial return.

Is that down to the Gov/location of Aus?

It's a company decision.
Qantas's view is that they don't see international airline travel returning to anywhere near pre-Covid-19 levels until 2023 at the earliest.
They're going to mothball over 100 planes including their entire fleet of A380's in the Mojave Desert.

 

[Kinky Gerbil]

Started looking at the airbridges this morning.

What a mess.

Places on it that are OK to travel to with closed borders.

 

[The Spanish]

July is a big month in terms of resumption of services for a lot of carriers. Qatar back to 80 destinations, Turkish aiming for 99 by September, Air France 25% network by end of the month, KLM 60%. Emirates 30+ destinations.

 

[Tom Hark Preston Park]

Simon Calder on the telly yesterday made the very good point that at many airports, although paying lip service to social distancing on the plane, they then pack you in tight as sardines on a bus between the plane and the terminal

 

[Kinky Gerbil]

I only had PMQs on in the background - but it sounded like Johnson took credit for the Virgin restructure?

 

[worthingseagull123]

You only have to look up in the sky today, absolutely azure blue

Flying is a privilege not a right, growth has completely out of hand, the industry doesn't pay for its damage to the planet and the crazy cheap fares have led to unsustainable lifestyles.

It is not a privilege.

It is an essential way for many people to visit loved ones, travel for business and for holidays where there is no option other than to fly.

Hey if we all get 6 months paid leave a year with no loss of pay, I’ll happily see the return of Ocean Liners.

 

[loz]

It is not a privilege.

It is an essential way for many people to visit loved ones, travel for business and for holidays where there is no option other than to fly.

Hey if we all get 6 months paid leave a year with no loss of pay, I’ll happily see the return of Ocean Liners.

Cruise ships are a lot more polluting than planes, below is just the carbon footprint, you can add sewage and dumping litter in the ocean as well.

Carnival Corporation, the world’s largest luxury cruise operator, emitted nearly 10 times more sulphur oxide (SOX) around European coasts than did all 260 million European cars in 2017, a new analysis by sustainable transport group Transport & Environment reveals.[1] Royal Caribbean Cruises, the world’s second largest, is second, yet four times worse than the European car fleet. SOX emissions form sulphate (SO4) aerosols that increase human health risks and contribute to acidification in terrestrial and aquatic environments.[2]

 

[Tom Hark Preston Park]

Strategy hmgov was maybe always following was to get daft ****s to lob money they could ill-afford into the avation industry earlydoors to prop it up for another couple of months, while at the same time pulling the rug from under the daft ****s that parted with their money. They might get a refund somewhere down the line. But in the meantime their money is good as GONE when they need it most. Shameful

 

[Raphael Meade]

As well as mothballing their entire A380 fleet, Qantas retired their last 747 last week, overflew the Sydney Opera House before coming in via LAX to the Mojave storage/boneyard;

https://samchui.com/2020/07/27/farewell-qantas-b747-at-mojave/#.Xx8gfC2z3UI

 

[Kinky Gerbil]

Strategy hmgov was maybe always following was to get daft ****s to lob money they could ill-afford into the avation industry earlydoors to prop it up for another couple of months, while at the same time pulling the rug from under the daft ****s that parted with their money. They might get a refund somewhere down the line. But in the meantime their money is good as GONE when they need it most. Shameful

Read somewhere they reckon roughly 200K of people abroad are on furlough.

One way to get that money back lol