WW "airlines to go bust"

Old Oct 21, 2020, 5:21 am
  #1381  
 
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Yes, IIRC - that's the history behind the Dragon branding.
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Old Oct 21, 2020, 7:06 am
  #1382  
 
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Originally Posted by Farringdon
Was that the reason they kept the Dragon brand? I know there was plenty of history with Dragonair, but it never made sense to me why they kept separate branding. I usually flew HKG-PVG and most of the flights were branded as Dragon with a handful as mainline CX, but it always seemed a bit pointless to have the separate brands on a service that was largely interchangeable.
It was the main reason. They were happy to keep it totally separate for a long time as it was well recognised in China, much moreso than CX who had always been a predominantly long haul airline. KA's days have been numbered ever since the brands were brought together in 2016. I think it would have happened eventually with or without Covid.
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Old Oct 21, 2020, 7:19 pm
  #1383  
 
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Originally Posted by Concerto
Think they really need to change the brand. Flybe had become well and truly toxic long before its demise. Perhaps a return to BEA? Or British European at least?
Why not go further back to JEA ?!
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Old Oct 21, 2020, 7:29 pm
  #1384  
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Originally Posted by 1010101
It was the main reason. They were happy to keep it totally separate for a long time as it was well recognised in China, much moreso than CX who had always been a predominantly long haul airline. KA's days have been numbered ever since the brands were brought together in 2016. I think it would have happened eventually with or without Covid.
Indeed.
Remember that CX also acquired the LCC HK Express (UO) in 2019. KA disappearance was in the cards when they did.
But KA staff have somewhat different contracts from CX. And CX pilots are on three different types of contracts. Harmonization is currently being forced.

CX/UO will have to retender for KA routes.

Last edited by brunos; Oct 21, 2020 at 7:35 pm
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Old Oct 21, 2020, 7:58 pm
  #1385  
 
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Originally Posted by brunos
Indeed.
Remember that CX also acquired the LCC HK Express (UO) in 2019. KA disappearance was in the cards when they did.
But KA staff have somewhat different contracts from CX. And CX pilots are on three different types of contracts. Harmonization is currently being forced.

CX/UO will have to retender for KA routes.
Thanks. That makes sense why they couldn't easily collapse them together before. Sounds a bit similar to the situation at BA.
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Old Nov 9, 2020, 4:34 am
  #1386  
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More bad news for Norwegian as it was denied further government support.

https://news.sky.com/story/coronavir...pport-12128323

The boss of Norwegian Air said it had suffered a "punch in the gut" after the Oslo government said it would not provide the troubled airline with further financial support.

Norwegian, which has been hit hard by the coronavirus crisis and has grounded most of its fleet, said in August that it would run out of cash in the first quarter of 2021 unless it secured fresh funds.

The airline has held talks with the government with the hope of winning further support but in a statement on Monday from the country's transport and industry ministries, this was ruled out.
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Old Nov 9, 2020, 7:11 am
  #1387  
 
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Not surprised, to be honest. Although the airline has had more lives than a cat, the Norwegian government continuing to throw money at it would be deeply irresponsible.
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Old Nov 9, 2020, 12:44 pm
  #1388  
 
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https://media.uk.norwegian.com/press...upport-3049635

Following today’s disappointing announcement from the government, we have no choice but to furlough an additional 1,600 colleagues and park 15 of the 21 aircraft we’ve operated the past months

Our goal is to keep six aircraft on domestic routes in Norwa.
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Old Nov 10, 2020, 10:32 am
  #1389  
 
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Looks like Norwegian wont go out with a bang but more of a whimper.

Every year the speculation of will Norwegian collapse this winter comes and goes, but it looks like this year may be the year that they are consigned to history.
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Old Nov 10, 2020, 11:48 am
  #1390  
 
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I’ve flown with Norwegian a lot over the years, mostly for leisure but a few times to Madrid for work, always had good flights with them. Seats were comfortable and there seemed to be more leg room than in the standard BA Airbus short haul fleet. I’ll miss them if they go, really enjoy flying on a 737.
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Old Nov 18, 2020, 9:49 am
  #1391  
 
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Norwegian initiates a reorganisation plan with its daughter companies Norwegian Air International and Arctic Aviation Assets seeking protection under Irish Examinership

Following the government of Norway’s decision to withhold further support from the airline, and the ongoing COVID-19 pandemic, Norwegian Air Shuttle ASA (“Norwegian”) has decided to initiate an examinership process in Ireland relating to its subsidiary Norwegian Air International Limited (NAI), its wholly-owned asset company Arctic Aviation Assets DAC (AAA) and some of AAA’s subsidiaries; Norwegian will also enter in and get protection of the Irish Examinership process as a related party.

Norwegian has chosen an Irish process since its aircraft assets are held in Ireland. Norwegian has taken this decision in the interest of its stakeholders.

The purpose of the process is to reduce debt, rightsize the fleet and secure new capital. This reorganisation process protects the assets of the Norwegian group while allowing the company to focus on the rightsizing of the group. The process is estimated to take up to five months.

Norwegian will continue to operate its route network (currently limited due to the Covid situation) and trade as normal on the Oslo Stock Exchange (Oslo Brs). Norwegian Reward will continue as normal honouring and earning CashPoints for its members. Safeguarding as many jobs as possible, while rightsizing its asset base, will continue to be a top priority for the management team throughout this process.

Jacob Schram, Norwegian CEO, said: “Seeking protection to reorganise under Irish law is a decision that we have taken to secure the future of Norwegian for the benefit of our employees, customers and investors. Our aim is to find solutions with our stakeholders that will allow us to emerge as a financially stronger and secure airline.”

The process of examinership in Ireland allows financially sustainable businesses to address elements of the business which require restructuring with the aim of protecting jobs and preserving the core value of the business. This protection, through a court appointed examiner, ultimately allows a company to secure new capital and implement a legally binding scheme for the settlement of debts.

“Our intent is clear. We will emerge from this process as a more financially secure and competitive airline, with a new financial structure, a rightsized fleet and improved customer offering,” said Schram.

Based on Norwegian’s current cash position and the projections going forward, the company believes it has sufficient liquidity to go through the above-mentioned process.

*About AAA:

The Norwegian group’s aviation asset platform is held by companies based in Dublin, Ireland. Arctic Aviation Assets DAC is the parent company of these companies. This business area handles aircraft financing and ownership. Arctic Aviation Assets DAC is a wholly owned subsidiary of Norwegian.

https://media.uk.norwegian.com/press...ot-dot-3052095
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Old Dec 8, 2020, 5:02 pm
  #1392  
 
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Virgin are selling and leasing back their Dreamliners to survive!

https://news.sky.com/story/virgin-at...y-bid-12155513


Sir Richard Branson's Virgin Atlantic Airways is selling two of its newest aircraft to raise tens of millions of pounds that will help it to navigate through the bleakest winter in the recent history of commercial aviation.
Will BA do something similar?
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Old Dec 8, 2020, 6:08 pm
  #1393  
 
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Originally Posted by rockflyertalk
Virgin are selling and leasing back their Dreamliners to survive!

https://news.sky.com/story/virgin-at...y-bid-12155513




Will BA do something similar?
BA already did this with ~50 aircraft back in May.
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Old Dec 9, 2020, 2:25 am
  #1394  
 
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Originally Posted by rockflyertalk
Virgin are selling and leasing back their Dreamliners to survive!

https://news.sky.com/story/virgin-at...y-bid-12155513




Will BA do something similar?

It's really quite a sensible (and normal) thing to do right now, easy way to get cash through the door. In reality, it looks like these are 2 new dreamliners, so it means that VS doesn't have to find the cash to pay the final delivery payments plus will get some money as they will have paid pre-delivery payments leading up to receiving the aircraft.
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Old Dec 9, 2020, 5:47 am
  #1395  
 
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Originally Posted by dylanks
BA already did this with ~50 aircraft back in May.
Ah thanks. I missed that one. Theres been a lot of news this year!!
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