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The shocking true cost of Covid-19 on the travel industry

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Airlines and travel companies have revealed shocking revenue losses caused by Covid-19 travel restrictions

Across the board, airlines and other travel companies have recorded devastating losses as a result of Covid-19 travel restrictions.

The Qantas Group reports substantial losses of $1.83 billion before tax

The Qantas group has just released it full year results for this year, and the results are devastating.

The major airline has reported a massive loss of $1.83 billion before tax, or $2.35 billion after. The airline has already lost $12 billion as a result of the Covid-19 crisis.

Qantas CEO Alan Joyce said this morning“total revenue lost since the start of the pandemic rose to around $16 billion – and it’s likely to exceed $20 billion by the end of this year.”

Air New Zealand records second annual loss

Air NZ has also posted a loss of $307 million. The airline’s operating revenue was down 48% last year.

This comes as the airline’s second annual loss in a row, also suspending earnings guidance.

This comes as the country grapples with an outbreak of the deadly Covid-19 Delta strain and harsh lockdown restrictions.

Emirates reports massive loss of $6 billion, with revenue falling 62%

Despite accepting $3.1 billion in government assistance funds, Emirates has emerged from the pandemic hardly unscathed.

The airline also had to let almost a third of its staff go at the beginning of the pandemic.

Emirates aircraft took 88% fewer passengers in the last two years, only managing to fill an average of 44% of seats. Before Covid, this figure was around 79%.

Keira is the front-page editor at Ticker NEWS. She's previously worked at Reuters in Jakarta, and ABC in Australia. She has a Bachelor of Journalism, specialising in international politics. Keira is particularly interested in writing about politics, technology and human rights.

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How the man training A-listers has built a fitness empire

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He’s the Australian personal trainer who helped Rebel Wilson shred more than 30 kilos of her weight

He’s the coach keeping The Voice judge Rita Ora looking trim and lean, as well as the entrepreneur pioneering the fitness industry in Sydney, Australia.

Jono Castano is working his magic skills on Sir Richard Branson, so what next for the renowned trainer as he takes on the world?

Watch Jono live on-air with ticker’s Holly Stearnes to discuss his success, training the stars, business moves and fitness advice as we emerge from the pandemic.

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Your next rental car could be a Tesla, following a major deal with Hertz

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Tesla is driving at full speed, with the EV giant striking a major deal with rental car agent, Hertz

Elon Musk owned, Tesla has officially crossed a $1 trillion stock market valuation for the first time in its operating history…and it follows a major order from global rental car agency, Hertz

Hertz plans to order 100,000 new EVs for its fleet.

It is the biggest-ever order from rental car company Hertz, and a deal that has reinforced the electric car leader’s ambitions to top the entire auto industry in sales over the next decade.

But for Tesla and its investors, Hertz’s decision to order 100,000 Tesla vehicles by the end of 2022 showed electric vehicles are no longer a niche product, but will dominate the mass car market in the near future.

Tesla data will be stored in China

Tesla also appeared on Monday to be making progress resolving regulatory problems that threatened its business in China

The company stated that it had opened a new data and research center in Shanghai to comply with government requirements that data collected from vehicles within China, stay in the country.

Tesla now faces the daunting day-to-day challenge of becoming a high-volume automaker growing at a rate not seen since the early 1900s…when demand exploded for Henry Ford’s Model T.

Tesla is also trying to manage an order backlog for its vehicles as it continues to deal with extended supply chain disruptions. 

Investors and analysts, for now, are looking past the near-term challenges, with the latest deal struck between Tesla and Hertz set to only create more hype around its share price.

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Crown Resorts to keep Melbourne casino license

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After being entangled within a corruption scandal, Crown Resorts is set to retain its Melbourne casino license

The Victorian Royal Commission found the resort’s conduct to be “disgraceful” but the final report recommends that Crown Melbourne to receive a two-year grace period.

This is so the company can be under the control of a “special manager” that can rectify an “alarming catalogue of the wrongdoing”, addressing the money laundering that Crown was allegedly involved in.

After this period, the special manager will determine whether they are satisfied with the company and whether they should retain its Victorian casino license.

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