The fall of the dominoes

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Viewing 15 posts - 151 through 165 (of 200 total)

  • capetonianm
    Participant

    Germany’s future without Lufthansa German Airlines
    Will Lufthansa go bankrupt next week?
    Juergen T SteinmetzMay 16, 2020 06:31
    Germany’s future without Lufthansa German Airlines

    Lufthansa is part of the success story of the Federal Republic of Germany, and an example to many airlines in the world. Lufthansa is truly global, but also truly German.

    Without Lufthansa, world aviation may not be the same. Will Coronavirus be able to destroy this giant player in the airline industry?
    Lufthansa German Airline and the Lufthansa Group may be preparing for bankruptcy. This was reported in the German magazine “Capital”

    Germany’s future without Lufthansa German Airlines

    I sincerely hope that sensationalist piece of journalism has no solid foundation.


    transtraxman
    Participant

    Will this airline really bite the dust?

    “Thai Airways Is Planning To Start Bankruptcy Proceedings”, (Simple Flying 18-5-20)

    Thai Airways Is Planning To Start Bankruptcy Proceedings

    “Bangkok considers placing Thai into bankruptcy protection”, (ch-aviation 18-5-20)

    https://www.ch-aviation.com/portal/news/90464


    transtraxman
    Participant

    This justifies the international flight cancellations on the Civil Aviation Authority of Thailand¨s (CAAT) prohibition of incoming flights till 30 June……..

    “Thai Airways extends international flight cancellations”, (Business Traveller, 19-5-20)

    Thai Airways extends international flight cancellations

    ………which also denies that the Thai government will permit Thai Airlines to go bankrupt.

    “Thai Airways rescued from brink of bankruptcy”, (Travel Weekly, 19-5-20)

    https://www.travelweekly.co.uk/articles/371787/thai-airways-rescued-from-brink-of-bankruptcy


    cwoodward
    Participant

    There was never any chance that the Thai government would let Thai Airways go bankrupt. The loss of face would have been unemaginable.
    Hopefully this defacto restructuring will result in a better and less corrupt management.
    A once great airline that has for the past decade (longer perhaps) be limping along under the stress of unqualified government interference a very poor management and a heavy burden of corruption.

    2 users thanked author for this post.

    AMcWhirter
    Participant

    As we suggested last month it was unlikely TG would be allowed to fail.

    It’s a survivor like AZ.

    Thai Airways seeks US$2.2 billion in state aid


    capetonianm
    Participant

    A once great airline that has for the past decade (longer perhaps) be limping along under the stress of unqualified government interference a very poor management and a heavy burden of corruption.

    I thought you were talking about SAA, but you didn’t mention outright theft!

    5 users thanked author for this post.

    AMcWhirter
    Participant

    Austrian Airlines (OS) could fail according to this report from Airliners.de [DE]

    It says “Connfidence is slowly returning to Austrian Airlines that the airline will survive the corona crisis.”

    OS needs state aid. It plans to restart limited operations on June 14.

    However it seems almost impossible OS could fail given it’s part of the Lufthansa Group.

    https://www.airliners.de/frueherer-neustart-austrian/55519


    capetonianm
    Participant

    However it seems almost impossible OS could fail given it’s part of the Lufthansa Group.

    I certainly hope it doesn’t, one of my very few preferred airlines.

    Someone seems to think that LH group could fail – if the article I posted at #998899 has any substance. I’d never heard of E-Turbo News before, it came up on one of my news feeds. Does this publication, or its publisher Juergen T Steinmetz, have any credibility?


    AMcWhirter
    Participant

    There is lockdown in place for the Philippines. Little if any international travel right now.

    It means that PAL’s future in uncertain.

    It is losing $300 million a month (I assume it’s US$) although PAL has had “$600 million fresh capital approved by its shareholders last February.”

    https://www.philstar.com/business/2020/05/21/2015589/pal-not-immediate-danger-bankruptcy-company-president


    travelworld2
    Participant

    “Someone seems to think that LH group could fail” Is that possible?

    It depends what you mean by “fail”. Cease trading, go into liquidation and be forever removed from the skies, like Monarch? Not a chance. But to restructure via an insolvency process and be reorganised as a slimmer entity- yes, that is not impossible. Others may do too, most notably Virgin Atlantic.


    FaroFlyer
    Participant

    Travelworld2, here is an article on the LH proposed bailout

    Lufthansa Reaches Agreement With German Government Over 9 Billion Euro Bailout Deal


    capetonianm
    Participant

    Coronavirus and debt push Hertz to file for bankruptcy protection
    The heavily indebted 102-year-old car rental company has been unable to withstand the pandemic

    https://www.telegraph.co.uk/news/2020/05/23/coronavirus-debt-push-hertz-file-bankruptcy-protection/


    AMcWhirter
    Participant

    Lufthansa bailout – government makes conditions.

    The airline’s supervisory board was due to meet yesterday (Friday) but its meeting is now postponed until Monday.

    Lufthansa bailout – government makes conditions


    Tom Otley
    Keymaster

    cwoodward
    Participant

    Fiji Airways yesterday retrenched 50% of its employees -about 900. Flight crew and engineers were retained
    In latter years this has become a strong small airline which is essential to the south pacific and particularly to the Fiji tourism industry which is worth about $2 billion and accounts for a third of the countries GNP.
    It would be a devastating blow to the Fiji economy if it were to fall over. However there is some hope that Australia and or New Zealand will offer assistance.

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