The JAL Group (OTC: JAPSY) today announced further reductions on its domestic network between September 3rd and September 30th. In accordance with the conditions of carriage, customers affected by the cancellations during this period will be re-accommodated on an alternative flight. The “JAL Domestic PCR Inspection Service” for JAL Group customers, we will be expanding the program to include all JAL Group domestic customers and all fares offering better price. To date, the carrier has received more than 57,000 applications to conduct pre-travel testing for COVID-19. We will create a hygienic and clean environment at airports and on board to provide our customers with a safe and secure travel experience.
In addition, the Japanese government is also offering free PCR and antigen quantification tests for passengers departing from Haneda, Narita, Nagoya(Chubu),Osaka(Itami), Osaka(Kansai) and Fukuoka to airports in Hokkaido, Okinawa, Hiroshima, Fukuoka and Kagoshima from July 20 to September 30, in order to ensure the safety of people in Hokkaido, Hiroshima, Fukuoka, Kagoshima and Okinawa prefectures as well as those who have no choice but to travel there.
We sincerely apologize for any inconvenience, this may cause to customers who have booked flights on the reduced schedule, but would like to ask for our customer`s understanding during this unprecedented time.
Reductions Added Today
Summary by Month
Note – Figures Include JAL Group Operated Flights (JAL, J-AIR, JAC, HAC, JTA, RAC) Select routes may be operated by a different aircraft configuration and customers may receive a new seat assignment. Also, First Class/Class J may not be offered when a change in aircraft configuration occurs.
Toulouse, 31 March 2021 – Corsair has taken delivery of its first A330-900, on lease from Avolon, to join the French airline’s fleet. By selecting a total of five A330neo’s, Corsair is executing its strategy to become an all-A330 operator. Thanks to the aircraft’s latest technologies, Corsair will benefit from cost-effective and eco-efficient solutions, while providing passengers with the best comfort standards in the quietest cabins in its class.
The aircraft features 352 seats in a three-class layout, providing all the comfort and amenities of Airbus’ leading ‘Airspace’ cabin, including state-of-the-art passenger in-flight entertainment (IFE) and full WiFi connectivity throughout the cabin.
The A330neo is powered by Rolls-Royce’s latest-generation Trent 7000 engines. The Corsair aircraft will also be the first A330neo to feature an increased maximum take-off weight of 251 tonnes. This capability will allow the airline to fly long-haul destinations up to 13,400 km (7,200nm) or benefit from ten tons more payload on board.
The A330neo is a new-generation aircraft and successor to the hugely popular A330ceo widebody family. As well as the new engine option, the aircraft benefits from a host of innovations, including aerodynamic improvements and new wings and winglets that together contribute to 25% fuel-burn and CO2 reductions.
Corsair, which already operates an Airbus fleet of five A330 Family aircraft, became a member of the Airbus Skywise ‘Open Data Platform’ in 2020, thus benefiting from several Skywise-based services, such as a real-time in-service fleet performance analysis capability (aircraft health monitoring), reliability analysis and predictive maintenance.
The JAL Group (OTC: JAPSY; Tokyo: 9201.T) today announced further reductions on its domestic network plan through March 11, 2021. With the state of emergency in effect through March 7, travel demand is expected to decline. As such, the JAL Group will reduce additional flights within the month of February and the beginning of March. For flights between March 12-31, the carrier plans to announce details on February 18, 2021.
The JAL Group has implemented key measures against COVID-19 to provide our customers with a safe and secure travel experience. We sincerely apologize for any inconvenience, but would like to ask for our customer`s understanding during this unprecedented time.
Note – Figures Include JAL Group Operated Flights (JAL, J-AIR, JAC, HAC, JTA, RAC)
CHICAGO, Jan. 20, 2021 /PRNewswire/ — United Airlines (NASDAQ: UAL) today announced fourth-quarter and full-year 2020 financial results. The company continues its efforts to lead the industry as it manages the most disruptive crisis in aviation history.
Since the beginning of the COVID-19 crisis, United has raised over $26 billion in liquidity and made important progress in reducing core cash burn (see detailed chart below) to ensure the company’s survival. Over the last three quarters, the company has identified $1.4 billion of annual cost savings and has a path to achieve at least $2.0 billion in structural reductions moving forward. United ended 2020 with $19.7 billion in available liquidity1, including an undrawn revolver capacity and funds available under the CARES Act loan program from the U.S. Treasury.
Having stabilized its financial foundation, the company expects 2021 to be a transition year that’s focused on preparing for a recovery. United has resumed heavy maintenance and engine overhauls, investments that are essential to recovery when demand returns. The combination of structural cost reduction and timely investments will help set up United to exceed its 2019 adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) margin in 2023. The company expressed high confidence that it would achieve this target by 2023 – and said its ongoing recovery planning would help ensure the company was equipped to reach this level even sooner, if demand returns more quickly.
“Aggressively managing the challenges of 2020 depended on our innovation and fast-paced decision making. But, the truth is that COVID-19 has changed United Airlines forever,” said United Airlines CEO Scott Kirby. “The passion, teamwork and perseverance that the United team showed in 2020 is exactly what will help us build a new United Airlines that’s better, stronger and more profitable than ever. I could not be prouder of – and more grateful to – this team, which is going to lead us there.”
Click the link below to see the full press release!
Mesa Air Group, Inc. (NASDAQ: MESA) today reported fourth quarter and full-year fiscal 2020 financial and operating results.
Mesa’s Q4 2020 results reflect net income of $11.4 million, or $0.32 per diluted share, compared to net income of $12.2 million, or $0.35 per diluted share for Q4 2019. Mesa Q4 2020 results include, per GAAP, the deferral of $7.8 million of revenue, all of which was billed and paid by American and United during the quarter and will be recognized over the remaining terms of the contracts. Mesa’s Adjusted EBITDA1 for Q4 2020 was $44.6 million, compared to $50.8 million in Q4 2019, and Adjusted EBITDAR1 was $54.2 million for Q4 2020, compared to $61.9 million in Q4 2019. For Q4 2020 revenue was $108.0 million, a reduction of $79.8 million (42%) from $187.8 for Q4 2019 primarily due to the reduced flying as a result of COVID-19. During the quarter Mesa recognized $40.8 million as an offset to wages and salaries related to the previously announced Payroll Support Program Agreement (“PSP”), which required Mesa to retain all of its employees.
Operationally, the Company ran a 99.8% controllable completion factor, compared to 99.0% in Q4 2019, and a total completion factor of 98.2%, which primarily includes weather, close-in capacity reductions driven by reduced demand, and other uncontrollable cancellations, compared to 96.9% in Q4 2019.
Full Year
Mesa reported net income of $27.5 million, or $0.78 per diluted share for the 2020 fiscal year, compared to net income of $47.6 million, or $1.36 per diluted share for the 2019 fiscal year. Excluding special items for both periods, adjusted net income1 was $27.5 million or $0.78 per diluted share for the 2020 fiscal year, compared to $57.5 million or $1.64 per diluted share for the 2019 fiscal year. Mesa fiscal 2020 results include, per GAAP, the deferral of $23.8 million of revenue, all of which was billed and paid by American and United during the year and will be recognized over the remaining terms of the contracts. Mesa’s Adjusted EBITDA1 was $163.3 million in fiscal year 2020, compared to $208.7 million in fiscal year 2019 and Adjusted EBITDAR was $212.1 million in fiscal year 2020, compared to $260.9 million in fiscal year 2019. For fiscal year 2020, revenue was $545.1 million, a reduction of $178.3 million (25%) from $723.4 million for fiscal year 2019, primarily due to the reduced flying as a result of COVID-19. During the year, Mesa recognized $83.8 million as an offset to wages and salaries related to the previously announced Payroll Support Program Agreement (“PSP”), which required Mesa to retain all of its employees as of April 20, 2020.
_______________ 1 See Reconciliation of non-GAAP financial measures
Fiscal 2020 Q4 Highlights
– EPS of $0.32, Full Year $0.78
– Year-end cash increased by $34.5 million to $99.4 million
Recent Updates
– Amended capacity purchase agreement with American to operate 40 CRJ-900s for a five-year term
– Commenced cargo operations for DHL with two Boeing 737-400F
– Added 10 new E175 aircraft to our United fleet in November and December
– Entered into a $195 million loan under the CARES Act with the U.S. Treasury
FILE PHOTO: The logo of Airbus is pictured at the entrance of the Airbus facility in Bouguenais, near Nantes, France, July 2, 2020. REUTERS/Stephane Mahe/File Photo
TOULOUSE, France (Reuters) – Major French unions on Monday signed a keenly awaited labor deal with Europe’s Airbus <EADSY> covering job reductions and furloughs for production workers affected by coronavirus-blighted demand for passenger jets.
After three months of talks, unions representing a majority of the planemaker’s French workers signed an agreement paving the way for 4,200 job reductions in France, including 3,400 in Toulouse, Europe’s aerospace capital where Airbus is based.
Unions say the agreement will prevent compulsory redundancies, although Chief Executive Guillaume Faury recently warned staff that voluntary measures would not be enough.
Following regular discussion with Congress about our federal funding needs for Fiscal Year 2021, Amtrak submitted a letter to Congress formalizing our ongoing request for up to $4.857 billion this fiscal year for Amtrak and our partners.
From the letter, Amtrak President and CEO Bill Flynn notes “we have seen that our ridership is not returning as quickly or at the levels that we had hoped for, and we updated our forecast for FY 21. We now anticipate needing up to $4.857 billion in FY21 to support the company and our employees through this unprecedented situation.”
Additionally, as Congress considers programs for stimulating the economy, Amtrak has identified $5.193 billion in additional investments as part of an economic recovery proposal to help the nation recover from the impacts of the pandemic, for a total federal investment of $10.050 billion. This includes critical projects, such as replacing bridges and tunnels on the Northeast Corridor, new fleet, infrastructure improvements throughout our national network, and major station improvements. If this additional $5.193 billion investment is made, Amtrak anticipates that, based on various transportation studies, more than 75,000 jobs could be created, while building for the future needs of America’s traveling public.
Business remains at about 25% of pre-COVID levels. Based on our current forecast, our FY 2021 ridership and revenue are forecasted to improve to about 40% of pre-COVID levels, which is weaker than anticipated.
If we do not get additional funding, potential impacts on customers, employees and projects include the reduction of corridor trains as state partners are forced to suspend service, and the deferment of numerous capital projects and procurement critical to the railroad, both of which could result in a corresponding loss of an additional 2,400 in total jobs.
“To manage this situation, Amtrak will work to adjust its operating and capital spending plans during this short term CR, with the aim of minimizing further impacts on our customers and employees. However, if the FY 20 funding level is extended beyond December 11, 2020 and supplemental funding has not yet been provided, we will be unable to avoid more drastic impacts that could have long lasting effects on our Northeast Corridor infrastructure and the national rail system,” said Flynn in the letter.
TEL AVIV, Sept 16 (Reuters) – Cash-strapped El Al Israel Airlines raised $148 million in a government-mandated share offering on Wednesday that will enable it to receive a state bailout package.
In a regulatory filing in Tel Aviv, Israel’s flag carrier said it sold 753.35 million new shares at 0.671 shekels ($0.1963) each.
Its stock earlier had closed 5.6% higher at 0.774 shekel.
Demand reached 654 million shekels while El Al accepted 505 million shekels ($148 million) worth.
El Al did not give further details of the offering which took the total number of shares outstanding to above 1.2 million.
But Israeli media reported that Eli Rozenberg had obtained a controlling stake via the offering, with 44.9% of the airline’s shares. He is the son of American businessman Kenny Rozenberg, CEO of New York-based nursing home chain Centers Health Care.
Rozenberg in July had offered to funnel $75 million into the airline in return for a 44.99% stake.
An El Al spokesman said he could not immediately confirm the reports about Rozenberg’s bid.
Newspapers said the state’s overall stake would now be as much as 15.5%, while the current controlling shareholder – Knafaim Holdings – would see its stake fall to about 15%.
Israel’s Finance Ministry said it paid $34 million for its shares and that although it pledged a $150 million safety net, it was barely needed.
“The results of the offering express investors’ trust in the company’s business plan and in state aid,” it said in a statement.
El Al has been hit hard by the coronavirus outbreak and the government has for months offered to intervene to help it avoid bankruptcy.
That has included mandating a share offering and steep spending reductions to receive a $250 million loan that will be 75% backed by the government and used partly to pay back customers whose flights were cancelled.
The airline has reported losses for two years running, racked up debt to renew its fleet, and suspended flights when Israel closed its borders and furloughed most of its employees.
($1 = 3.4185 shekels) (Reporting by Rami Ayyub and Steven Scheer; Editing by Andrew Cawthorne)
JetBlue (NASDAQ: JBLU) has issued the following message to its 23,000 crew members.
It has been a very tough few weeks. We are so proud to see once again how the JetBlue culture brings us together during times of crisis. Thank you for continuing to serve our Customers and deliver the JetBlue experience, particularly when your own lives are being disrupted in so many ways.
With safety our #1 value, we continue to take the measures necessary to protect your health. But as it relates to our business, we are not going to sugarcoat it. Demand continues to worsen, and the writing is on the wall that travel will not bounce back quickly.
We’d like to give you some color on what we are seeing. Last year on a typical day in March we took in about $22 million from bookings and ancillary fees. Throughout this March, our sales have fallen sharply and in the last several days we have taken in an average of less than $4 million per day while also issuing over $20 million per day of credits to Customers for canceled bookings. This is a stunning shift, which is being driven by fewer new bookings, much lower fares, and a Customer cancel rate more than 10 times the norm. If you do the math, $4 million per day does not come anywhere close to covering our daily expenses. It is hard to predict how long these conditions will last and how much more challenging the environment may become.
We are not alone. Virtually every major carrier is taking actions that were almost unthinkable a few weeks ago, making huge schedule reductions and parking significant portions of their fleets.
Even though we entered this from a position of strength with a strong balance sheet and cash in the bank, because of the dramatic fall-off in bookings, we need to reduce our spending immediately so that we can continue to fund JetBlue’s operations and ensure your jobs are protected. We have already announced an initial capacity reduction, pay cuts for our officers (VPs and above), voluntary time off programs, re-negotiated Business Partners agreements, and other spending reductions.
We’ve taken swift and decisive actions to protect you, but we must do more and do so quickly to weather this storm.
Reducing our flying to reflect demand We are reducing our capacity in the coming months, with a reduction of at least 40% in April and May. We also expect substantial cuts in June and July, and given the unpredictability of this event, we will ground some of our aircraft. We know this is not an easy move – it will impact hours for many frontline Crewmembers, but it is also essential that we reduce capacity in the face of dramatically falling demand.
We will be notifying Customers of their specific cancellations in a phased approach so that we do not overwhelm Customer Support as they continue to receive exponentially more calls than they ever have before.
Reviewing our fleet plan One of our most substantial capital expenses is the purchase of new airplanes. In collaboration with Airbus, we are looking at our order book for opportunities to slow deliveries and reduce aircraft pre-delivery payments (PDPs). We will also defer the four previously used airplanes that we announced earlier this year.
Cutting our capital and operational spending We will reduce spending wherever we can to preserve our cash, and both of us will be taking a 50% pay reduction during this crisis.
We entered the year with a list of major initiatives to invest in our infrastructure, technology and real estate. As of today, we have paused or stopped more than 75% of these projects and will continue to stand down work wherever we can.
Increasing our cash reserves The dramatic loss of revenue in recent days means we will have to start dipping into our cash savings. Although we came into this with about $1.2 billion, our expenses total millions of dollars each day. The good news is we have secured a new liquidity facility – an extra credit line – which allowed us to borrow $1 billion. This is not free money – it’s a band-aid solution that holds us over and we have to pay it back with interest. Even with these cash reserves we, like the rest of the industry, will need significant government support to help us through these losses.
Calling for government intervention The governmental warnings and actions taken to manage this health crisis have hit both domestic and international travel hard. We have been coordinating with Airlines for America (A4A) and other U.S. airlines to ensure government leaders understand the threat to our global economy if air travel is not supported. When this pandemic passes – and it will – air travel will play a major role in getting life back to normal and supporting economic recovery. We are going to need significant government help to do that. This is not a position we’d like to be in, but government assistance will help us protect our 23,000 Crewmembers who are our most important priority as we navigate these turbulent times.
From the beginning we have faced many challenges and, against all odds, we have thrived through some incredibly difficult events. Now we are faced with what is by far the biggest challenge our company and our industry has ever seen. While we know this is an incredibly difficult time for all of you as you work to juggle your own concerns around coronavirus, we have come through other challenges in our 20 year history and we can – and will – come through this together.
The next few months won’t be easy, but please know that all the steps we’re taking today are focused on protecting the health and safety of our Crewmembers and Customers and ensuring JetBlue remains a great place for you to work well into the future.
70% corresponds to a 90% reduction in international flights and 40% in domestic operations. All customers with affected international and national flights from today can reschedule their journeys until December 31, 2020, at no additional cost
Following new border closures of various countries and the subsequent drop in demand, LATAM Airlines Group S.A. and its subsidiaries will reduce their capacity by 70%, equivalent to a 90% decrease in international operations and 40% in national flights.
“We made this difficult decision following border closures that have made operating to a large part of our network impossible. If these unprecedented travel restrictions are extended over the next few days, we cannot rule out further reductions to our operation,” said Roberto Alvo, Chief Commercial Officer and CEO-elect of LATAM Airlines Group.
All passengers with affected national or international flights from today (March 16, 2020), will be able to reschedule their flights until December 31, 2020, at no additional cost.
LATAM’s customer service channels are currently receiving high numbers of enquiries, impeding the ability to attend customers. To be able to focus on passengers with the most pressing requirements, LATAM requests that customers do not call more than 72 hours prior to their flight.
