Russian airline nosedives

September 27, 2017 by  
Filed under Aviation, EUROPE, News

MOSCOW, 27 September 2017: Tens of thousands of passengers were stranded Tuesday as Russia’s 10th largest carrier, VIM-AVIA, cancelled dozens of flights due to heavy losses and tour operators called on the government to avert an industry-wide crisis.

The private airline, which has cancelled all of its charter flights, said it was planning to go into a receivership due to financial hardship.

“Unfortunately we have to admit that the VIM-AVIA company has found itself in a difficult economic situation,” the company said in a statement on Tuesday. Read more

Alitalia faces deep cost-cuts

March 17, 2017 by  
Filed under Aviation, EUROPE, News

MILAN, 17 March 2017: Struggling Italian airline Alitalia on Wednesday announced a new strategic cost-cutting plan, as it seeks to head off turbulence and return to profitability by the end of 2019.

The airline aims to cut costs by 1.0 billion euros (USD1.07 billion) and increase revenue by 30% in that time, according to the plan adopted after more than six hours of boardroom talks.

Alitalia did not lay out possible job cuts but Italian media have speculated that between 2,000 and 3,000 jobs could be slashed. Read more

THAI president to cut flights and fat

March 9, 2015 by  
Filed under Aviation, News, Thailand

BANGKOK, 9 March 2015: THAI Airways International aims to return to profit in 2016 after a massive restructuring that involves cutting operating costs and capacity by 20% this year.

That was how THAI Airways president, Charumporn Jotikasthira, described his strategy to Spring News TV channel in a recent “Face Time” programme with anchor Danai Ekmahasawat.

The airline president warned that a return to profit would involve cutting some international flight this year.

Read more