oneworld

Oneworld has become the first global airline alliance to commit to achieving carbon neutrality by 2050. It follows in the footsteps of the UK aviation industry, which has already pledged to cut its net carbon emissions to net zero by 2050. The global aviation industry as a whole has only promised to achieve half of this goal, having committed to halve emissions (compared to 2005 levels) in the next 30 years. Oneworld carriers will be responsible for developing their own approaches to hit the net zero target, with tactics including investment in more efficient aircraft, sustainable fuels and carbon offsetting. Reduction of waste and single-use plastic and various efficiency measures will also be adopted. American Airlines, for example, has purchased more than 500 more fuel-efficient planes, while BA has invested heavily in biofuel, partnering with Royal Dutch Shell and sustainable fuels technology company Velocys to build Europe’s first plant converting commercial waste into jet fuel. Oneworld chairman and Qantas Group CEO Alan Joyce said: “The commitment of Oneworld member airlines to reach net zero emissions by 2050 underlines the importance that we as an alliance have placed on becoming a more sustainable industry. Despite the challenges we are all facing amidst the Covid-19 pandemic, we have not lost sight of the responsibility we have to reduce emissions in the long term and today’s announcement reflects the strength of that commitment.”<br/>

LATAM Airlines has presented a new $2.45b financing proposal in the middle of its bankruptcy protection process in the United States, replacing a proposed debtor-in-possession loan that prompted the judge to reject the original plan earlier this month. LATAM, the largest air transport company in Latin America, told the Chilean securities regulator in a letter on Wednesday night that the new debtor-in-possession loan maintained “basically” the structure presented in July. In one tranche, asset management firm Oaktree Capital Management amended the proportion of the loan it was offering to $1.125b from $1.3b originally, with a group of creditors put together by investment bank Jefferies Group providing an additional $175m. In a second tranche, several key LATAM shareholders, including the Cueto family, which controls the airline, and Qatar Airways, changed their offering from the $900m convertible loan previously rejected by the judge amid opposition from other creditors to $750m with $250m additional financing from creditors led by Jefferies Group and $150m from other LATAM shareholders or new investors. LATAM said in its statement that if new investors could not be found, key LATAM shareholders and the Jefferies Group creditors would make up the difference. It also stipulated that both tranches of loans had to be paid in cash, rather than equity as previously in the plan rejected by the judge.<br/>

Britain's competition regulator said it will keep open an investigation into competition on UK-US airline routes until the travel industry stabilises, imposing instead interim measures which extend previous commitments. The Competition and Markets Authority said on Thursday that it now aimed to complete its investigation into competition related to an agreement between BA and American Airlines before March 2024. The interim measures effectively extend the terms of 2010 commitments for an additional three years, said the CMA, adding that it was not worth making an assessment of competition now as that would not reflect the post-pandemic state of competition in the longer-term.<br/>

Qantas Airways CEO Alan Joyce’s compensation fell 83% to A$1.7m ($1.2m) in the year ended June as the airline slashed salaries and bonuses to save money during the coronavirus crisis. Joyce went without pay from early March until August, when he started taking 65% of his base salary, Qantas said in a statement Friday. He got no bonus for the fiscal year, and opted not to receive 343,500 shares tied to his long-term incentive from 2017. Qantas is cutting as many as 8,500 jobs to weather a near-halt in income due to virus-related travel restrictions. Joyce has previously been one of Australia’s best-paid executives, receiving more than A$6 million for five straight years as record earnings propelled the airline’s stock. Qantas Chairman Richard Goyder also waived his fees from early March until August. Total executive pay at the airline for the year ended June dropped 69%, the company said.<br/>

Qantas appears to have teamed up with several Australian newspapers to increase pressure on states to open borders, with the airline taking out full-page ads in a number of dailies. Thursday’s issue of the Age and Sydney Morning Herald featured a prominent message from the airline urging Australians to join their campaign for states to adopt a consistent definition of a Covid-19 hotspot. “Show you support for safely opening our domestic borders,” the ad’s headline reads. “We believe a shared framework should determine when our borders open again.” A webpage address at the bottom of the ad leads readers to an online petition hosted on Qantas’ website. This marks one of the largest corporate pushes for the easing of lockdowns so far, with other major organisations coming onboard. The bottom of the Sydney Morning Herald ad includes a note reading “this advertising space has been donated by Nine Publishing to support Australian businesses”. Qantas CE Alan Joyce said a number of major media players have supported the campaign. “Some of our media partners have donated that space for us in the major newspapers – the Nine newspapers and News Corp newspapers,” he said. “Our petition so far has gotten 17,000 signatures just from our employees. We are going to send it to millions of our frequent flyers.” The airline is pushing for all states and territories to adopt a common definition of a Covid-19 hotspot, which would set out a consistent set of criteria for the opening and closing of state borders. In relation to international borders, the prime minister confirmed the cap on returning travellers will be increased from 4,000 to 6,000 per week. “We have made the decision to increase the number of people who come back into Australia by about 2,000 every single week … That will come into effect on Friday week,” he said.<br/>

A sightseeing flight to nowhere announced by Qantas on Thursday morning sold out 10 minutes after going on sale, according to the airline. The 'Great Southern Land' flight on Saturday, October 10 will depart from Sydney and head up the New South Wales coast, cross the Queensland border to the Gold Coast, Brisbane and the Sunshine Coast before continuing north to the Whitsundays and Great Barrier Reef and features low-level fly-bys of landmarks. "It's probably the fastest selling flight in Qantas history," an airline spokeswoman said. "People clearly miss travel and the experience of flying. If the demand is there, we'll definitely look at doing more of these scenic flights while we all wait for borders to open." It will then head inland to the red centre taking in Uluru and Kata Tjuta before returning for a low-level circuit of Sydney Harbour and landing back at Sydney. The seven-hour flight accommodating 150 passengers is on a Boeing 787 Dreamliner, an aircraft usually reserved for international flying. The Dreamliner has the largest windows of any commercial aircraft.<br/>