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FOR all the optimism about travel restarting as vaccines are rolled out, airline stocks still have a way to go to make up the ground they lost in the pandemic. It may take signs of a recovery in long-haul flights for the sector to make further gains.
IN theory, the system of free trade driving the world economy is supposed to provide a “level playing field” for all. In practice, countries have long complained that rivals unfairly dish out aid in the form of state-backed subsidies to boost favoured companies -- often as they themselves do the same.
HONG KONG (Bloomberg): The nightmare year of 2020 brought the airline industry’s first decade of sustained profitability to a shuddering halt.
BERLIN: The prospect of bailing out more companies battered by the coronavirus pandemic is opening up a split in the German government, with free marketeers resisting a push for increased state intervention, according to people familiar with the matter.
HONG KONG (Bloomberg): United Nations humanitarian relief agency Unicef is looking to recruit some of the airline industry’s biggest operators to help distribute a coronavirus vaccine to the world’s poorest nations.
ABU Dhabi’s government has stumped up around $22 billion for Etihad Airways since it began flying in 2003, underscoring the ambition of the oil-rich emirate to turn its national carrier into a global player before the effort faltered in recent years.
DUBAI: A plan to open up air travel between Dubai and London is ready and could be implemented once approved by the respective governments, according to the head of the emirate’s airport operator.
SINGAPORE: Singapore Airlines Ltd is eliminating about 4,300 jobs as it contends with the devastating impact of the coronavirus pandemic on the aviation industry.
BERLIN: Deutsche Lufthansa AG, Europe’s biggest airline, is working on further belt-tightening measures that could result in the elimination of 20,000 more jobs, according to newspaper NZZ am Sonntag.