United States

Jamie Freed

Virgin Australia to buy rest of frequent flyer program for $480 million

Sep 15 2019

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.

Virgin Australia in talks to buy back rest of frequent flyer programme - source

Sep 14 2019

* No details of how loss-making airline would finance purchase

Cathay Pacific to cut capacity as demand for Hong Kong travel falls

Sep 11 2019

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.

CORRECTED-Tech startups tout AI to airlines seeking revenue boost

Sep 05 2019

* Volantio helps customers rebook so carriers can maximise revenue

Cathay Chairman Slosar resigns weeks after CEO left, deepening reshuffle

Sep 04 2019

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

AirAsia close to adjusting Airbus order plans: sources

Aug 29 2019

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.

REFILE-UPDATE 4-Virgin Australia's new CEO swings axe as loss puts focus on costs (Aug. 28)

Aug 28 2019

* Shares down as much as 9%, touch lowest in more than decade

CORRECTED-UPDATE 3-Virgin Australia swings axe as loss puts focus on costs

Aug 27 2019

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.

Turnaround may prove tricky for new Virgin Australia CEO Scurrah

Aug 25 2019

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.

UPDATE 2-Qantas posts 17% fall in profit but shares up as buyback announced

Aug 21 2019

* CEO declines to provide revenue outlook (Recasts, adds CEO, analyst comments)

World News

Iran says it will destroy any aggressor

Iran will pursue any aggressor, even it carries out a limited attack, and seek to destroy it, the head of the elite Revolutionary Guards said on Saturday, after attacks on Saudi oil sites which Riyadh and U.S officials blamed on Tehran.