Virgin Australia Holdings Ltd on Monday said it entered an agreement to buy back the 35% of its Velocity frequent flyer program that it does not already own for A$700 million ($481 million) from private-equity group Affinity Equity Partners.
* No details of how loss-making airline would finance
HONG KONG Cathay Pacific Airways Ltd said on Wednesday it would cut capacity for the upcoming winter season after reporting an 11.3% fall in passenger numbers for August as anti-government protests in Hong Kong hit demand.
* Volantio helps customers rebook so carriers can maximise
SINGAPORE Hong Kong's Cathay Pacific Airways shook up its top ranks further as Chairman John Slosar resigned on Wednesday, less than three weeks after mounting Chinese regulatory scrutiny led to the shock departure of its chief executive. | Video
PARIS/SINGAPORE AirAsia Group Bhd will announce on Friday an adjustment to its large Airbus SE order plans, confirming at least part of its order for A330neos while making room for the A321XLR, two people familiar with the matter said.
* Shares down as much as 9%, touch lowest in more than
SINGAPORE, Aug 28 Virgin Australia Holdings
said on Wednesday it would cut 750 jobs, merge business
divisions and conduct a sweeping review of its operations after
swinging to an annual underlying loss due to soft market
conditions and higher fuel costs.
SINGAPORE Shareholders will press Virgin Australia Holdings' new CEO Paul Scurrah to present a robust strategic plan on Wednesday, when the airline is expected to report its seventh consecutive annual loss, on top of $1.2 billion worth of red ink over the previous six years.
* CEO declines to provide revenue outlook
(Recasts, adds CEO, analyst comments)