Coronavirus’ financial blow to airlines remains up in the air, as carriers have no choice but to wait out an indeterminable number of cancelled flights and decreased demand to and from China and Hong Kong.
March 16 (Reuters) - China's carriers including Air China, China Southern Airlines and China Eastern Airlines are planning to reduce international flights as part of anti-epidemic efforts, the Global Times reported on Monday, citing unnamed sources.
China Eastern Airlines Corp Ltd launched on Wednesday a fresh subsidiary - OTT Airlines - to push home-grown aircraft to wider markets, the carrier said on its official account on Chinese social media platform Weibo. The Shanghai-based airline said OTT Airlines, which translates to 'one two three' in Chinese, would be the first airline to operate Commercial Aircraft Corp of China's (COMAC) C919 narrow-body planes, which are undergoing flight testing. China Eastern was initially slated to be the first operator.
BEIJING/SHANGHAI (Reuters) - Shares in affiliates of HNA Group surged on Thursday following a news report that China plans to take over the debt-laden conglomerate as the coronavirus outbreak has further hit its ability to meet financial obligations. The government of the southern province of Hainan, where HNA [HNAIRC.UL] is based, is in talks to take control of the group and sell off its airline assets, Bloomberg said on Wednesday, citing people familiar with the matter. HNA, which controls or holds stakes in a number of domestic carriers including its flagship Hainan Airlines <600221.SS>, did not immediately respond to requests for comment on the report.
The results illustrate UATP's continuous quarter over quarter growth WASHINGTON , Oct. 17, 2019 /PRNewswire/ -- UATP, the airline-owned payment network, announced today its third quarter financial results. ...
China's top three airlines are bracing for a further margin squeeze as softer travel demand pressures passenger yields and a weakening yuan currency inflates costs, analysts said, as many of them slashed their annual profit forecasts for the carriers. The outlook revision - for which analysts also cited an economic slowdown amid a U.S.-China trade war and fears of rising oil prices - comes after China Southern Airlines, Air China and China Eastern Airlines turned in lower net profits for the January-June period last week, erasing first-quarter gains. China Southern, the country's largest carrier by passenger numbers, posted a 20.9% year-on-year drop in profit to 1.69 billion yuan ($238 million), while China Eastern posted a 14.9% drop to 1.94 billion yuan.
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On Thursday, Delta Air Lines announced a partnership with LATAM Airlines in a deal worth $2.25 billion. Delta will acquire a 20% stake in LATAM.
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ATLANTA and WASHINGTON , Oct. 24, 2019 /PRNewswire/ -- BCD Travel has become the first travel management company to issue UATP accounts. BCD will launch the payment program internally with a test group ...
China Eastern Airlines Corporation Limited (the "Company"; NYSE: "CEA"; SEHK "0670"; SSE "600115") announces that the Company's annual report for the 2019 fiscal year filed with the Securities and Exchange Commission on April 29, 2020 can be accessed via the following link:
The "phase one" trade deal announced by the U.S. and China Friday saw many stocks jump, with investors breathing a sigh of relief as the U.S. pulled back on $160 billion in new tariffs that were ...
BEIJING/SHANGHAI, March 4 (Reuters) - China will offer cash support to both domestic and foreign carriers to encourage them to restore services and not to suspend flights amid the coronavirus outbreak, the country's aviation regulator said on Wednesday. For every available seat kilometre, Beijing would award 0.0176 yuan for routes that have been shared by multiple carriers and 0.0528 yuan for routes that are only operated by one carrier, the Civil Aviation Administration of China said.
UATP is proud to be partnering with leading payment technology company CITCON to offer Alipay, WeChat Pay and China UnionPay, the preferred mobile payment options for over one billion Chinese consumers.
Latin America has benefited from continuous growth since 2017 WASHINGTON , Oct. 10, 2019 /PRNewswire/ -- UATP is pleased to partner with online payment provider, EBANX, to connect airline Merchants to ...
China's three biggest airlines saw double-digit declines in demand on their so-called regional routes in September, as protests in Hong Kong and Beijing's travel restrictions to Taiwan took their toll. Two of them, China Southern Airlines and China Eastern Airlines have also aggressively cut capacity on those routes to Hong Kong, Macau and Taiwan - routes which account for about 5% of their revenue. China Eastern said demand on its regional routes, as measured by revenue passenger kilometres, tumbled by nearly a quarter in September from the same period a year earlier, while China Southern slid 21.1% and Air China fell 15.7%.
The IATA forecasts $27.8-billion loss in revenues for Asia-Pacific carriers during 2020 with the majority to be borne by Chinese airlines.
The UATP payment network is pleased to announce another multi-record-breaking year in 2019.
Jimenez is a proven payments expert with a passion for driving a winning culture WASHINGTON , Oct. 8, 2019 /PRNewswire/ -- UATP is pleased to welcome David Jimenez as Chief Commercial Officer. Jimenez ...
By Geoffrey Smith