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Australian aviation sector thrown another lifeline, but is it enough?

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The global aviation sector has taken a major hit due to the pandemic as lockdowns and travel restrictions continue across the world

Australia’s aviation sector has been thrown another lifeline.

Domestic airline crew will gain access to Covid support payments of $750 a week, in an extension of the Australian federal government assistance for the aviation industry.

Australia’s Deputy Prime Minister Barnaby Joyce announced a range of measures to “keep domestic aviation ready for takeoff” – and that included assistance to retain workforce capability.

The Deputy PM says the decision to limit assistance to flight and cabin crew outside of hot spots, was due to the importance of the aviation industry in keeping Australia’s economy going.

“This is a crucial sector of the economy, it’s crucial to keep the sovereign airline capacity.,”

Joyce Said
Australia’s Deputy PM, Barnaby Joyce.

Australia’s travel market, like the rest of the world, continues to be hammered by COVID

Initially, 50 percent of pilots and cabin crew would be eligible for the $750 a week payment, providing airlines could show their revenue was down at least 30 percent.

“If the crisis goes on then we have the capacity to scale up to more than 50 per cent of employees who are aircrew, we’re talking about pilots and flight attendants,”

said Mr Joyce.

Airlines quickly welcomed the assistance, and the extension of key programs subsidising domestic and regional flights until the year’s end.

A half-price airfare initiative set to end in September was also extended until November, in recognition of the fact many cheap seats were sold on flights cancelled by airlines, due to city lockdowns and border closures.

Qantas called the support “much appreciated, given the acute challenges facing the sector”.

Virgin Australia CEO Jayne Hrdlicka said the support for services and crew was “essential” as they continued to navigate the most challenging period in aviation history.

“We will continue to work collaboratively with the Deputy Prime Minister and the federal government to maintain stability in our workforce and remain responsive to adding significant capacity when borders are open, which is economically critical to Australia’s future,”

said THE VIRGIN AUSTRALIA BOSS, Hrdlicka.

Unions were unimpressed however, calling on the government to extend the assistance to all aviation workers

Transport Workers Union national secretary Michael Kaine said lockdowns affected all aviation workers from check-in staff to caterers, not just some cabin crew and pilots.

The government announcement followed a warning from Qantas Group CEO Alan Joyce that the airline would again have to stand down staff without pay, if current low levels of flying persisted.

In June more than 9000 domestic flights were canceled as a result of lockdowns and border closures, including 5000 by Qantas and Jetstar.

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Wall Street hits record highs as markets shrug off Venezuela tensions

US markets hit record highs as investors shrug off geopolitical tensions, with the S&P 500 up 0.7% and Dow 1%.

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US markets hit record highs as investors shrug off geopolitical tensions, with the S&P 500 up 0.7% and Dow 1%.


US markets surged to fresh records as investors looked past recent geopolitical tensions following the US attack on Venezuela. Confidence returned quickly, driving broad gains across major indices.

The S&P 500 climbed 0.7% to reach a new all-time intraday high, while the Dow Jones Industrial Average jumped 495 points, or 1%, also setting a record during Tuesday’s session.

The rally signals continued optimism around economic resilience, despite global uncertainty and ongoing international conflicts.

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Dow hits record after U.S. military action in Venezuela

Dow Jones surged 600 points post-U.S. action in Venezuela, boosting energy stocks amid cautious gold futures rise.

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Dow Jones surged 600 points post-U.S. action in Venezuela, boosting energy stocks amid cautious gold futures rise.


The Dow Jones Industrial Average surged nearly 600 points to a record close following U.S. military action in Venezuela. Investors responded positively, signalling confidence that the geopolitical situation would not spiral out of control.

Stocks rallied alongside rising crude oil prices, with energy companies like Chevron and Exxon Mobil leading the gains. Analysts noted that oil infrastructure rebuilding in Venezuela could provide long-term benefits for the sector.

Despite the bullish market reaction, gold futures also rose, suggesting that some traders remain cautious amid global uncertainties.

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Wall Street eyes further gains in 2026 as rate cuts fuel optimism

Wall Street enters 2026 optimistic as falling interest rates and strong earnings drive stock market expectations amid economic resilience.

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Wall Street enters 2026 optimistic as falling interest rates and strong earnings drive stock market expectations amid economic resilience.


Wall Street is entering 2026 with renewed confidence as falling interest rates and robust corporate earnings lift expectations for continued stock market gains. Analysts say an easier monetary policy is providing fresh momentum for equities after several strong years.

The US economy has continued to show resilience, with businesses maintaining healthy balance sheets and earnings growth holding up despite global uncertainty. Lower borrowing costs and supportive fiscal settings are expected to further boost investor sentiment.

However, market watchers remain cautious, warning that optimism could fade quickly if economic data disappoints or inflation pressures return.

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