Sydney-based Qantas announced its consolidated fiscal year results marking the depth of the crisis caused by the ongoing COVID-19 pandemic. Australia’s flag carrier posted a statutory loss of 2.7 billion Australian dollars ($1.9 billion) for the fiscal year ended June 30, which is the second-highest loss in Qantas's century-long history.…
On Wednesday Virgin Australia announced its restructuring plan after filing for voluntary administration in April, the airline revealed in a press release. The carrier is resetting itself to meet the drop in demand both in Australia and around the world. Through its review, the airline has anchored its recovery plan…
According to Perth Airport, Qantas Airways and the airport have reached an agreement to ensure the essential services Qantas provides to Western Australia, including vital flights, freight services and repatriation flights can continue. Both parties haven't revealed the details of the settlement of the feud. This is not the first…
In response to Virgin Australia’s numerous outstanding invoices at Perth Airport, the airport authority has parked vehicles in front of four Virgin Australia jets to prevent the aircraft from leaving the airport. According to Perth Airport, it is “working cooperatively with Virgin’s administrators to try to help the airline come…
In hopes of keeping some industries afloat, the Australian government has created the International Freight Assistance Mechanism in hopes of keeping some trade routes open for those seeking high demand, limited lifespan items. The project has been agreed upon by Hon Michael McCormack MP, Minister of Infrastructure, Transport and Regional…
Virgin Atlantic founder Sir Richard Branson has stated in a public letter that he is willing to offer his private island as security against any deal from the U.K. government. Although the tycoon has committed $250 million of his own money, Virgin Atlantic says it requires around an extra $615…
As flying programs across the globe get cut due to the ongoing COVID-19 pandemic, one airline group will be increasing the number of flights operated. The Qantas Group has announced it will be adding additional flights to its schedule in cooperation with the Australian government. The group will be part…
Softening demand in both business and leisure markets is projected to send Virgin Australia’s accounts into the red. In an investor update delivered to the markets on May 17, the Australian carrier announced estimated earnings in 2019 at least A$100 million lower (69 million U.S. dollars) than the A$64.4 million…
Virgin Atlantic founder and eccentric British entrepreneur Richard Branson said in a recent interview on "Your Money" that the airline is mulling a nonstop flight from London to Perth, Australia. If the plan comes to fruition, Virgin Atlantic would join Australian national carrier Qantas as the only two carriers on…
