Air Transportation

Corona Capital: Chocolate M&A, Disney layoffs

30 September 2020

Concise views on the pandemic’s corporate and financial fallout: Ferrero’s purchase of Fox’s Biscuits bucks an anti-junk-food trend; Disney’s 28,000 job cuts suggest life isn’t sweet in the Magic Kingdom.

Rolls-Royce repair job has 18-month warranty

29 September 2020

The UK jet engine maker wants to raise 2.5 bln pounds from existing and new investors, including sovereign funds. That should keep it aloft even if the airlines that use its kit have a bad 2021. Beyond that, a slow recovery could mean more financial warning lights.

American Airlines bailout plea looks cheeky

24 September 2020

The company wants more public money to avoid furloughing 19,000 workers. But it should have $13 bln of liquidity by the end of the quarter, including discounted loans competitors eschewed. Even if American can’t stay afloat, there’s Chapter 11. The time for handouts is over.

Corona Capital: Newspaper rivals, College football

17 September 2020

Concise views on the pandemic’s corporate and financial fallout: the Wall Street Journal hits up the New York Times’ printing presses; U.S. college football’s Big Ten makes a comeback.

Corona Capital: Fed’s optimism, Package holidays

16 September 2020

Concise views on the pandemic’s corporate and financial fallout: Jay Powell and crew at the U.S. central bank reckon the nation’s economy is doing better, just, than they expected; Anglo-German travel company TUI may raise 1 bln euros as the virus whacks new bookings.

Corona Capital: Banks and government, Ryanair cash

4 September 2020

Concise views on the pandemic’s corporate and financial fallout: Britain’s finance minister Rishi Sunak could hurt taxpayers by forcing lenders to chase pandemic borrowers; and the Irish airline’s war chest will come in handy if rivals go under.

Ethiopian swoop would seal South Africa’s descent

4 September 2020

Pretoria’s bankrupt state airline may secure a parachute from Addis Ababa, a stunning reversal of fortunes from the 1990s. After apartheid, South African firms blazed trails across the continent. With corruption and dogma hobbling their home base, the tables are turning.

Fight for Mumbai airport is cattle-class affair

2 September 2020

Tycoon Gautam Adani is taking over India’s second busiest airport. It tramples over a stalled $1 bln deal the seller had with Abu Dhabi’s ADIA and Canada’s PSP. By acquiring debt, Adani is offering a quick out for lenders including Goldman Sachs. But it sets a worrying precedent.

Corona Capital: Zooming through Covid

1 September 2020

Concise views on the pandemic’s corporate and financial fallout: Zoom Video Communications, the ubiquitous video-calling outfit, reports another blowout quarter.

Corona Capital: Pools, Dell

28 August 2020

Concise views on the pandemic’s corporate and financial fallout: Pool firm’s dive into public markets, Dell’s hardware resilience.

Corona Capital: Nvidia, Air conditioners

20 August 2020

Concise views on the pandemic’s corporate and financial fallout: Nvidia goes gangbusters, HVAC units have their moment in the sun.

Corona Capital: Vegan eggs, Target’s online fiesta

19 August 2020

Concise views on the pandemic’s corporate and financial fallout: A maker of chicken-free egg products accelerates its IPO plans amid Covid-19, while U.S. supermarket group Target shows that preparedness is everything in e-commerce.

Corona Capital: Telemedicine, Outdated movie rules

10 August 2020

Concise views on the pandemic’s corporate and financial fallout: Men’s wellness outfit Hims matches the online medical consultation trend with a financial one, namely blank-check companies; and Washington finally scraps a “Gone with the Wind”-era regulation.

IAG’s capital raise buys limited flying time

31 July 2020

The British Airways owner is tapping investors for 2.8 billion euros of equity. But the carrier is burning through 800 million euros of cash each month. Unless restrictions in its three biggest markets lift soon, a government bailout may be the only way to avoid a rough landing.

The depth of Boeing’s problems is still sinking in

29 July 2020

The $96 bln aviation giant reported another dismal quarter as struggling airlines ordered few planes. The recovery from the 737 MAX grounding and the pandemic are also edging further into the future. The outlook for the plane maker may still be catching up with the grim reality.

Corona Capital: GM, Glaxo, Shopify, Movies, Pemex

29 July 2020

Concise views on the pandemic’s corporate and financial fallout: General Motors pulls further ahead; GlaxoSmithKline’s vaccine-order boost; Shopify fills its revenue basket; AMC bows to online streaming’s growing power; Mexico’s oil giant puts on a brave face.

Corona Capital: Newspapers, 747s

17 July 2020

Concise views on the pandemic’s corporate and financial fallout: Congress may dangle newspapers a lifeline; British Airways brings its fleet of jumbo jets in for a final landing.

Corona Capital: Good news is bad news

16 July 2020

Concise views on the pandemic’s corporate and financial fallout: U.S. retail sales are rising and some banks say consumers are surprisingly resilient – but a recovery once glimpsed is even harder to give up.

Airlines need surgery not a vaccine

14 July 2020

Delta’s CEO said business travel, recently half its revenue, may never fully recover. That suggests the health crisis is turning into a full-fledged shift in behavior. The U.S. government could re-up bailouts. But the industry needs to shrink and rethink to stay airborne.

American Airlines has jumbo-sized seating dilemma

10 July 2020

The Dallas-based carrier’s un-socially distanced cabins have displeased passengers and health officials. But a look at its finances suggests the alternative would be big losses. It’s hard to see how American can please the many people who have stumped up to keep it airborne.