· Lufthansa's $15b rescue hits surprise hurdle as board rejects EU conditions →
Lufthansa's $US10 billion ($15 billion) government bailout was thrown into doubt on Wednesday (European time) after the German airline's supervisory board refused to accept the conditions attached by Brussels.
· HEICO Corporation (HEI) CEO Laurans Mendelson on Q2 2020 Results - Earnings Call Transcript →
HEICO's actual results may differ materially from those expressed in or implied by those forward-looking statements as a result of factors, including the severity, magnitude and duration of the COVID-19 outbreak; HEICO's liquidity and the amount and timing of cash generation; the continued decline in commercial air travel caused by the COVID-19 outbreak; lower demand for commercial air travel or airline fleet changes or airline purchasing decisions, which could cause lower demand for our goods and services; product specification costs and requirements, which could cause an increase to our cost to complete contracts, governmental and regulatory demands; export policies and restrictions; reductions in defense, space or Homeland Security spending by US and/or foreign customers or competition from existing and new competitors, which could reduce our sales, our ability to introduce new products and services at profitable pricing levels, which could reduce our sales or sales growth; product development or manufacturing difficulties, which could increase our product development cost and delay sales; our ability to make acquisitions and achieve operating synergies from acquired businesses; customer credit risk; interest, foreign currency exchange and income tax rates; economic conditions within and outside of the aviation, defense space; medical for the communications and electronic industries, which could negatively impact our cost and revenues; and defense spending or budget cuts, which could reduce our defense-related revenue.
The Wall Street Journal
· Navigating Your Life During Coronavirus →
As travel grinds to a halt around the world, many fliers are finding extra stress from airlines offering them travel vouchers instead of the full refunds they want for scrapped flights.
· Boeing slashes 12,000 jobs as virus seizes travel industry →
The company's problems have deepened with the coronavirus, which has cut global air traffic by up to 90 per cent and caused airlines to postpone or cancel orders and deliveries for new planes.
· ‘Make the rich pay for Covid-19’: Effigies of Dominic Cummings and Sir Richard Branson hung from Salford bridge →
Virgin Group, which owns the majority share in the airline, is now desperately seeking new investment after its proposal that the government should provide a £500m rescue package in commercial loans and guarantees was rejected.
· Royal Bank of Canada (RY) CEO David McKay on Q2 2020 Results - Earnings Call Transcript →
Largest airlines, we're seeing, it's just evaporated.
· I've Changed My Mind About Norwegian Air - The Future Is Brighter →
Other airlines have been changing their strategy and there's now a space for Norwegian to - potentially - do rather well.
The New York Times
· Trump’s Economic Advisers Are Wrong →
The rescue packages to date have shoveled trillions of dollars into the economy to, among other things, keep consumers and small businesses afloat, provide much needed liquidity to lending markets and bail out special pleaders like the airlines.
· The demise of oil may have been greatly exaggerated →
Travel quarantines and consumer reticence could hamper the chances of a recovery for airlines.
· American Airlines CEO quells US bankruptcy talk, says demand improving →
However, the U.S. airline industry is expected to be 10per cent to 20per cent smaller in the summer of 2021, Parker said, and its recovery would depend on how passenger demand and revenues evolve.