Budget 2018-19

  The airline currently operates 37 of its total fleet of 53 Airbus A320 aircraft GoAir  is planning to add new routes as it prepares for an initial public offering (IPO). While the IPO size could not be ascertained, a media report on Thursday pegged it at around Rs 4,000 crore. The airline currently operates 37 of its total fleet of 53 Airbus A320 aircraft. A senior executive said new routes were under evaluation but the airline was already selling tickets for flights to new destinations, such as Amritsar, Dehradun, and Surat, on online portals. The route expansion comes ahead of a possible IPO. The airline is also strengthening its management and is looking to hire senior executives in finance, sales, and network management roles. Industry sources said the airline was working on listing plans and had hired merchant bankers and law firms for the share sale. A final decision would be taken by the Wadia group, which owns the airline.

  Laid low by a Covid-19 outbreak that’s decimated passenger demand, airlines will be the workhorses of the attempt to eradicate it, hauling billions of vials to every corner of the globe In cooled warehouses on the fringes of Frankfurt airport, Deutsche Lufthansa AG is preparing its depleted fleet for the gargantuan task of airlifting millions of doses of the vaccines meant to end the global pandemic. Lufthansa, one of the world’s biggest cargo carriers, began planning in April in anticipation of the shots that Pfizer Inc. to Moderna Inc. and AstraZeneca Plc are developing in record time. A 20-member task force is at work devising how to fit more of the crucial payload onto the airline’s 15 Boeing Co. 777 and MD-11 freighters, along with hold space in a vast passenger fleet now flying at just 25% of capacity. “The question is how we scale it up,” said Thorsten Braun, who leads Lufthansa’s part in the global effort. Laid low by a Covid-19 outbreak that’s decimated passenger demand,...

  Overall, it will cut 8,500 positions, or 24% of its normal headcount, but that includes 2,600 roles currently unfilled due to cost reduction initiatives SYDNEY (Reuters) – Hong Kong’s Cathay Pacific Airways Ltd said on Wednesday it would slash 5,900 jobs and end its regional Cathay Dragon brand, joining peers in cutting costs as it grapples with a plunge in demand due to the coronavirus pandemic. The airline would also seek changes in conditions in its contracts with cabin crew and pilots as part of a restructuring that would cost HK$2.2 billion ($283.9 million), it told the stock exchange. Overall, it will cut 8,500 positions, or 24% of its normal headcount, but that includes 2,600 roles currently unfilled due to cost reduction initiatives, Cathay said. “The global pandemic continues to have a devastating impact on aviation and the hard truth is we must fundamentally restructure the group to survive,” Cathay Chief Executive Augustus Tang said in a statement. Cathay shares jumped...