Sydney Airport Message Board Sydney Airport Message Board  

Go Back   Sydney Airport Message Board > Aviation Industry News and Discussion > Australia and New Zealand Industry


 
 
Thread Tools Search this Thread Display Modes
Prev Previous Post   Next Post Next
  #1  
Old 26th February 2020, 11:53 AM
Greg Hyde Greg Hyde is offline
Prolific Member
 
Join Date: Sep 2008
Posts: 4,428
Default Tiger Downsizing Again

Virgin Australia slashes Tigerair fleet as coronavirus bites

Quote:
Virgin Australia will drastically shrink its budget arm Tigerair's fleet and is preparing steep capacity cuts across its entire network as the coronavirus outbreak stunts efforts to lift out of its financial woes.

Australia’s number two airline on Wednesday reported a statutory net loss of $97 million for the six months to December 31, a swing from a $55 million profit in the same half a year earlier.

Virgin said it would cut seven A320 aircraft from Tigerair by October which, with the transfer of two 737 from its Virgin operations, will reduce the budget carrier's fleet from 13 to eight aircraft. That means Tigerair's fleet will have more than halved over two years.

Virgin chief executive Paul Scurrah said the coronavirus outbreak was having a "significant effect" on the travel industry, and would cost the airline up to $75 million in the second half from lower domestic and international demand.

“We are responding to this with immediate steps to minimise impact to the group’s financial position," Mr Scurrah said.

The airline earlier this month dropped Hong Kong from its international network, with the coronavirus the final straw for the loss-making route.

Virgin on Wednesday said its capacity will fall by 3 per cent in the second half of the year and by up to 5 per cent next year.
Full Story

https://www.smh.com.au/business/comp...26-p544eh.html
Reply With Quote
 

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT +10. The time now is 10:46 PM.


Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.
Copyright © Sydney Airport Message Board 1997-2022
Use of this web site constitutes acceptance of the Conditions of Use and Privacy Statement