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COVID-19 an ‘existential’ threat as airports face multi-billion dollar losses

COVID-19 an ‘existential’ threat as airports face multi-billion dollar losses

Apr. 2 | The COVID-19 pandemic is an “existential threat” to the airport business and is predicted to wipe out two-fifths of global passenger traffic and almost half of revenues for airports in 2020, according to an economic analysis by Airports Council...

Cebu Pacific posts strong P9B earnings in 2019 on back of higher traffic

Cebu Pacific posts strong P9B earnings in 2019 on back of higher traffic

Apr. 1 | Low-cost carrier Cebu Pacific reported a net income of P9.123 billion in 2019, an increase of 132.6% from the P3.923 billion net income earned in 2018. Revenues for 2019 amounted to P84.807 billion, up 14.4% from the P74.114 billion posted in 2018, according...

Airlines face $61B cash burn, $39B net loss in Q2

Airlines face $61B cash burn, $39B net loss in Q2

Apr. 1 | Air carriers could burn through US$61 billion of their cash reserves and post a net loss of $39 billion during the second quarter if severe travel restrictions last for three months, according to a new analysis by the International Air Transport Association...

HKIA sets new round of HK$1B relief aid for airport community

HKIA sets new round of HK$1B relief aid for airport community

Mar. 30 | A HKD1 billion (US$129 million) relief package for the stricken Hong Kong airport community has been launched to mitigate the continuing impact of the COVID-19 outbreak on the industry, Airport Authority (AA), operator and developer of Hong Kong International...

US seaborne exports find new markets but fail to match lost volumes to China

US seaborne exports find new markets but fail to match lost volumes to China

Mar. 30 | Producers and manufacturers in the US have found new buyers for the goods that have faced tariffs in China for over a year, but not enough to make up for lost volumes to China, according to a new report from the Baltic and International Maritime Council...

Airport traffic in Jan already shows COVID-19’s rapid impact in APAC

Airport traffic in Jan already shows COVID-19’s rapid impact in APAC

Mar. 27 | Global airport traffic for January already showed the rapid impact of the COVID-19 outbreak on aviation, especially in the Asia-Pacific (APAC) region, according to Airports Council International (ACI) World. Global passenger traffic grew by just 1.9%...

Keeping air cargo supply lines open vital to saving lives—IATA

Keeping air cargo supply lines open vital to saving lives—IATA

Mar. 26 | The International Air Transport Association (IATA) renewed its call to governments to ensure vital air cargo supply lines remain open as delays in delivery are endangering lives. “Air cargo is a vital partner in the global fight against COVID-19. But...

IATA warns of ‘shrinking window’ to provide lifeline as airlines face $252B loss

IATA warns of ‘shrinking window’ to provide lifeline as airlines face $252B loss

Mar. 25 | It’s “apocalypse now” for airlines as they stand to lose US$252 billion in annual revenue unless governments scale up financial relief and other support measures for the industry, the International Air Transport Association (IATA) has warned. “Airlines...

UNCTAD: Major flag states have key role in decarbonizing shipping

UNCTAD: Major flag states have key role in decarbonizing shipping

Mar. 25 | Flag states can help enforce International Maritime Organization (IMO) rules on the reduction of greenhouse gas (GHG) emissions, according to a United Nations Conference on Trade and Development (UNCTAD) report. This as ships registered in the Top 10...

Ship, port operators to governments: allow safe, unrestricted delivery of goods

Ship, port operators to governments: allow safe, unrestricted delivery of goods

Mar. 25 | The International Chamber of Shipping (ICS) and the International Association of Ports and Harbours (IAPH) are jointly calling on all governments to support maritime trade and global supply chains by continuing to allow commercial ships access to ports...