government bailout

Fixed costs to sink airlines unless governments intervene, IATA warns

Bright yellow Spirit planes at the airport gate.

The International Air Transport Association on Tuesday pleaded for more government aid to stave off bankruptcies and mass layoffs because fixed expenses far exceed paltry revenue streams and are quickly draining cash reserves. 

IATA downgraded its revenue outlook for next year because of the slow recovery from the coronavirus pandemic. Governments are closing borders and implementing other travel restrictions as infections surge at a record pace in Europe and the U.S. The industry association...

https://s29755.pcdn.co/news/fixed-costs-to-sink-airlines-unless-governments-intervene-iata-warns

Yang Ming’s Q2 strong but not strong enough

Yang Ming Marine Transport Corp. reported Friday it had shaved its loss from more than $27 million in the first quarter to $2.25 million in the second.

Still, that means the Taiwanese carrier had a net loss for the first half of the year of nearly $29.5 million. During the first six months of 2020, consolidated revenue was down 12% compared to the same period in 2019, to $2.2 billion. Volume was down 9.86% to 2.38 million twenty-foot equivalent units (TEUs). And the first-half net figure...

https://s29755.pcdn.co/news/yang-mings-q2-strong-but-not-strong-enough

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