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Is there a safe airline right now? This is so widespread it's going to be hard to say who will survive.  The biggest concern is going to be whether governments are capable of saving airlines in dist

Is “Airbii” the new plural form of Airbus? I like it! 😃

There were never notices given out to individuals, but a notice to the union was given to start the clock on our contractual timelines before individual notices are given out. An MOA was reached last

29 minutes ago, Maverick said:

Which airlines are most in peril as of now?

My first thought is Flair but who else?

 

others including WestJet will be cutting way back and hopefully they all will survive and provide employment and even better travel for those who have cancelled and received points / airline dollars rather than cash.  Fingers crossed 

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Flair, Cdn North etc. are small, all domestic and have the ability to be nimble and flexible. If anyone is going to take a haircut it will be AC and WJ who won't disappear but will, depending on the length of the situation, be deeply affected especially in the international flying.

Swoop, who must be hemorrhaging money, is an easy sacrifice for Onex. Sunwing, who at the moment are not refunding trips (cause it would be negative cashflow), will have to cut back severely and then hope the summer flying in Europe materializes.

 

What will be most interesting is how the Feds (and provinces in some cases)  handle supporting the airlines and other businesses.

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The government needs to step up to the challenge in a more meaningful way by providing relief, even more than they did during 911, to prevent a long-lasting recession. If it does, the recovery will be brisk and back to where we left off, maybe even avoid a recession, if not, the recovery will be long and hard.

Speaking of 911, when other EU airlines particularly BA were reducing capacity, Ryanair and EasyJet were expanding. Some don't seem to understand the economics of airline operations that if there is a branch of the operation with much lower cost, why would they want to "sacrifice" it?! During a downturn no less?!!  In hard economic times carriers with lower (lowest) cost will do better and as such it would not be surprising to see Onex expand sizeable stand alone flights, especially Sun destinations, to Swoop.

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58 minutes ago, MD2 said:

The government needs to step up to the challenge in a more meaningful way by providing relief, even more than they did during 911, to prevent a long-lasting recession. If it does, the recovery will be brisk and back to where we left off, maybe even avoid a recession, if not, the recovery will be long and hard.

Speaking of 911, when other EU airlines particularly BA were reducing capacity, Ryanair and EasyJet were expanding. Some don't seem to understand the economics of airline operations that if there is a branch of the operation with much lower cost, why would they want to "sacrifice" it?! During a downturn no less?!!  In hard economic times carriers with lower (lowest) cost will do better and as such it would not be surprising to see Onex expand sizeable stand alone flights, especially Sun destinations, to Swoop.

I guess the real problem is, if an airline has moved  beyond it's level of comfort, does it warrant a helping cash influx  or should it survive on it's merits and action  to change  to survive? 

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29 minutes ago, Super 80 said:

I can't see Swoop surviving this, I suspect Transat would falter too if Air Canada were to break things off now. 

I was wondering if AC wouldn't let things fall apart right now.  With the fallout from COVID 19 they could probably pick up a bunch of new Airbii on decent terms on the open market.  On the other hand the Transat Airbii come with fully trained crew and tour contracts in place. 

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Is there a safe airline right now? This is so widespread it's going to be hard to say who will survive. 
The biggest concern is going to be whether governments are capable of saving airlines in distress. 

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Not exactly a rosy picture...With central bank rates already rockbottom, it will be interesting to see how they react... After rates hit zero and the bankers start flooding an already flooded economy with more liquidity, I'm curious to see what the effect will be.

Headlines around the world...

SAS to shut down most of its operations, will lay off 10,000 employees

Wizz Air cancels all operations in Poland, Latvia and Moldova

Ryanair Group cancels all flights to and from Poland

airBaltic suspends all flight operations from March 17

easyJet to suspend all flights to Spain on March 17

Ukraine International Airlines will operate a limited schedule

American further reduces its international schedule, will reduce domestic flying

Swiss grounds half its fleet

El Al drastically cuts its schedule

Delta suspends all flights to continental Europe, slashes capacity by 40%, will ground up to 300 aircraft!

Turkish Airlines suspends routes to Europe

KLM to early phase out the Boeing 747-400, reduces capacity

British Airways warns its employees of layoffs, will park large amount of airplanes

Brussels Airlines announces additional flight cancellations for March and a reduced timetable for April 2020

Norwegian to suspend more than 4,000 flights and implement layoffs

Air France adjusts its schedule to the United States

Korean Air cuts capacity, grounds aircraft, hopes to survive

United Airlines in talks with U.S. officials about financial support

United Airlines cancels flights, cuts costs as coronavirus hits demand

Lufthansa Group

From 29 March to 24 April, Lufthansa Group has announced it is cancelling a total of 23,000 flights, with further cancellations expected in the coming weeks.

Singapore Airlines

The Singaporean flag carrier has cancelled a large number of flights across its network up until the end of May.

Cathay Pacific

Hong Kong’s national carrier currently has 120 planes sitting on the tarmac – about half of its fleet. More than 75 per cent of its weekly flights have been slashed in March,

 

 

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2 hours ago, CanadaEH said:

Is there a safe airline right now? This is so widespread it's going to be hard to say who will survive. 
The biggest concern is going to be whether governments are capable of saving airlines in distress. 

No sure how the governments could save the airlines because there isn’t much in the line of tax payer's dollars coming from landing fees, business taxes, gst and so on.

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4 hours ago, B75/76 said:
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Cathay’s additional three weekly Heathrow flights are just for March 17-19 and are not ongoing, so it is not a sign of a rebound. If potential traffic over the next month urgently travels soon, there could be weaker demand later that prompts more cuts.

 

 

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14 hours ago, Specs said:

I was wondering if AC wouldn't let things fall apart right now.  With the fallout from COVID 19 they could probably pick up a bunch of new Airbii on decent terms on the open market.  On the other hand the Transat Airbii come with fully trained crew and tour contracts in place. 

Is “Airbii” the new plural form of Airbus? I like it! 😃

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Give it all away and then ask for Corporate Socialism to the tune of $50 Billion???

https://www.bbc.com/news/business-51903947

US airlines used up spare cash buying back shares

America's biggest airlines have called on Washington for more than $50bn (£41bn) in aid as they suffer the effects of the coronavirus pandemic.

US President Donald Trump on Monday pledged to back the industry "100%".

But figures suggest major carriers spent almost all their spare cash in the last decade buying back their own shares.

It comes as the airline industry is facing huge losses and widespread layoffs as passengers stay at home.

Data revealed by Bloomberg show major airlines including United and American Airlines used up an average 96% of their spare cash buying back their own shares.

Companies buy back their own shares for a number of reasons. Some have built up big cash piles that they don't want to sit on so spend the money buying back previously issued shares. This helps them reduce their costs as they have fewer shareholders to pay dividends to.

Buying back stocks can also push up the company's share price, which many investors use to measure a company's performance.

American Airlines led the pack, buying back more than $12.5 billion of its own shares from 2010 to 2019, according to Bloomberg figures. United Airlines used 80% of its spare cash buying back its shares.

The average S&P 500 Index company spent about 50% of its spare cash buying back its own shares during this period.

With limited cash reserves and a significant drop in revenues expected, US airlines are looking for government assistance of more than $50bn. Plane maker Boeing is also one of the firms looking for short-term assistance.

US Treasury Secretary Steve Mnuchin said last week that airlines are "on top of the list" for government help

 

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27 minutes ago, Tango Foxtrot said:

"Plenty of money "

When,  Where?  I have never seen it. Been here 30 years,  and the only reason I  can see to do it ... maybe...to launder cash ? 🤔

I’ve been in the business for 30+ years, been through 3 bankruptcy’s, but have had a very lucrative 18 years at WJ. I don’t know what the future holds though.

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Has anyone had any luck getting through to and getting a refund from Air Transat.  Apparently a lot of people are getting very frustrated by the lack of contact with and info from the company. My daughter has been trying since last Thursday with no success. 

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