Tag: prolonged

Thai AirAsia X Offering Unlimited Flight Change Or Two-Year Valid Credit Account Options

January 23, 2021 / WIL BALDWIN

Bangkok, 22 March 2021 – Due to the prolonged travel restrictions and international border closures caused by the ongoing effects of the COVID-19 pandemic, Thai AirAsia X (airline code XJ), a Thailand based low cost long haul carrier, is offering updated alternate options with more flexibility for guests with flights booked prior to 1st December 2020, and scheduled for travel from Thailand to Japan and South Korea between 1st March 2020 – 31st March 2021.

To help minimise the inconvenience, options available for guests are detailed below:

Unlimited flight changes: Change to any new travel date up to 31 December 2021 on the same route for an unlimited number of times without any additional cost, subject to seat availability. Do note that the flight change request must be submitted by 25 March 2021, and new flights are not applicable on National Long Holidays / the airline’s Embargo Period; OR
Credit account: Retain the value of the flight booking in the guest’s AirAsia BIG Member account for future travel with AirAsia to be redeemed within 730 calendar days (2 years) from the issuance date. The travel date of the new booking can fall on any date within the published flight schedule on airasia.com.

Guests can use the airline’s AI chatbot AVA, on support.airasia.com or airasia.com to make their selection.

The above guest information is only applicable for guests with flights on Thai AirAsia X who booked their flights directly online prior to 1 December 2020 via airasia.com. For group bookings or those made through travel agents, guests are advised to refer to their respective booking agents for further assistance.

AirAsia assures that the safety and well-being of our guests and Allstars is our top priority. AirAsia is complying with advice and regulations from local governments, civil aviation authorities, global and local health agencies.

AirAsia is closely monitoring the global health situation and reserves the right to announce further policies according to the latest developments.

Follow AirAsia on Twitter (@airasiaTH) and Facebook (facebook.com/AirAsia) for the latest updates, or contact our customer support team at Twitter (@AVA_AirAsia) Guests are also encouraged to check their flight status at airasia.com/flightstatus for live updates.

Once again, Thai AirAsia X would like to apologise for any inconvenience caused and the airline is hopeful that the situation will recover soon, allowing international flights to Japan, South Korea and other destinations to resume in the near future.

Korean Air to Issue $817 Million in New Shares as Virus Strains Industry

May 14, 2020 / WIL BALDWIN

SEOUL (Reuters) – South Korea’s largest airline, Korean Air, plans to sell around 1 trillion won ($816.55 million) in new shares in its biggest rights issue in 20 years to raise funds amid mounting strains in the industry due to the pandemic.

Korean Air is the latest carrier to raise funds as travel restrictions imposed by governments around the world have led to airlines grounding their fleets worldwide.

Korean Air separately plans to receive 1.2 trillion won in support from South Korean state-owned banks.

About 79 million newly issued shares, to be listed on July 29, will be first bought by the carrier’s shareholders, including holding company Hanjin Kal which has a 30% stake in the carrier, followed by general public, the company said in a statement.

“Korean Air will continue to carry out self-rescue measures to overcome the dismal business environment due to COVID-19,” the company said.

Korean Air had 70% or more of its employees working in South Korea take a six-month leave of absence in April. Woo Kee-hong, the airline’s president, warned in March that the coronavirus outbreak could threaten its survival if the situation becomes prolonged.

Korean Air also picked last month a preferred bidder to buy its real estate and non-core assets, which some analysts value at about 400-500 billion won.

Korean Air had a debt-to-equity ratio of about 870% as of end-2019. It is expected to announce January-March quarter earnings later this week.

A spokeswoman for Korean Air said it was operating just 10% of its previously planned international schedule, and 60% of its domestic schedule.

The airline said it expects its June international schedule to rise to 20% of its previous plan, as it announced the addition of more international passenger flights to prepare for increased travel demand once COVID-19 restrictions are relaxed.

United Airlines Holdings Inc said earlier this month it plans to raise $2.25 billion through a bond offering, after announcing a public offering to raise more than $1 billion in April.

In March, Singapore Airlines said it would issue S$5.3 billion ($3.70 billion) in new equity and up to S$9.7 billion($6.78 billion) via mandatory convertible bonds in a rights issue backed by state investor Temasek Holdings.

($1 = 1,224.6700 won)

(Reporting by Joyce Lee; Editing by Simon Cameron-Moore and Louise Heavens)

Korean Air’s passenger planes are parked following outbreak of COVID-19, at Incheon International Airport

Ford’s Vehicle Sales in China Tumble for Third Consecutive Year

January 12, 2020 / WIL BALDWIN

SHANGHAI (Reuters) – Ford Motor Co’s <F> China vehicle sales fell for a third consecutive year, by 26.1%, as it battles a prolonged overall sales decline in its second-biggest market that has hit demand for its mass-market Ford brand and sports utility vehicles.

The U.S. automaker delivered 146,473 vehicles in China in the fourth quarter, down 14.7% year-on-year, Ford said in a statement. In total, it sold 567,854 vehicles over 2019.

Ford has been trying to revive sales in China after its business began slumping in late 2017. Sales sank 37% in 2018, after a 6% decline in 2017.

Anning Chen, president and chief executive of Ford Greater China, said that while 2019 was a “challenging” year for the automaker, it saw its market share in the high-to-premium segment stabilize and its sales decline in the value segment start to narrow in the second-half of the year.

“The pressure from the external environment and downward trend of the industry volume will continue in 2020, and we will put more efforts into strengthening our product lineup with more customer-centric products and customer experiences to mitigate the external pressure and improve dealers’ profitability.”

The automaker plans to launch more than 30 new models in China over the next three years of which over a third will be electric vehicles. It has also said it would localize management teams by hiring more Chinese staff and aimed to improve relationships with joint venture partners.

New models it launched in the fourth quarter include a new Ford Escape version – for which the automaker said orders received so far have been much higher than expected – and the Lincoln Corsair, the first localized Lincoln model in China.

In China, Ford makes cars through a joint venture with Chongqing Changan Automobile Co Ltd and Jiangling Motors Corp Ltd (JMC). It has also said it would partner Zotye Automobile Co Ltd to sell lower priced cars.

Its larger U.S. rival General Motors Co <GM> last week said its sales in China fell 15% from a year earlier to 3.09 million vehicles in 2019, its second year of decline.

China’s auto market is set to contract by 2% in 2020 for the third year of decline, the China Association of Automobile Manufacturers (CAAM) forecast, due to a weaker economy and trade dispute with the United States.

Over 28 million vehicles were sold in 2018, down 3% from the prior year, while 2019 sales are likely to have declined 8% from the prior year, CAAM said.

(Reporting by Brenda Goh and Yilei Sun; Editing by Christian Schmollinger and Christopher Cushing)

A Ford model is seen during the China International Import Expo (CIIE), at the National Exhibition and Convention Center in Shanghai

American Airlines Files to Stop Alleged Maintenance Slowdown

May 20, 2019 / WIL BALDWIN

FILE PHOTO: An American Airlines Boeing 767-300ER aircraft takes off from Zurich Airport January 9, 2018. REUTERS/Arnd Wiegmann/File Photo

CHICAGO (Reuters) – American Airlines Group Inc said on Monday it has filed a lawsuit against two unions representing its mechanics, accusing the workers of an illegal slowdown aimed at disrupting operations to improve their position in prolonged labor talks.

In a statement, American said there had been 650 flight cancellations and more than 1,500 maintenance delays as a result of the alleged slowdown.

American has been in contract talks with the Transport Workers Union of America and the International Association of Machinists since 2015.

The unions did not immediately return a request for comment.

(Reporting by Tracy Rucinski; Editing by Marguerita Choy)

Thai AirAsia X Offering Unlimited Flight Change Or Two-Year Valid Credit Account Options

Korean Air to Issue $817 Million in New Shares as Virus Strains Industry

Ford’s Vehicle Sales in China Tumble for Third Consecutive Year

American Airlines Files to Stop Alleged Maintenance Slowdown

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