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How Australian airlines are preparing for a post-COVID rebound

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Australia’s second largest airliner, Virgin Australia has added a further nine new jets to its fleet, as the airline expects a rebound in the Australian domestic travel market

The airline, like others around the world, has been significantly impacted by restrictions caused by COVID-19 – including battling multiple state border closures.

But the future is looking bright, Virgin anticipates a rebound in the travel market by summer as Australia’s vaccination rollout picks up pace.

Virgin Australia will ad 9 new Boeing 737-800 aircraft to its fleet

The airline confirmed that the increased capacity would bring its fleet to 77 planes and help it meet its target of gaining a one-third share of the domestic market, where it currently competes against Qantas Airways and REX Airlines.

“These extra aircraft are an important part of our planning and ensure we’re ready to ramp up flying and meet the pent-up demand for domestic travel as soon as the opportunity presents itself,”

Virgin Chief Executive Jayne Hrdlicka said in a statement.
Virgin Australia CEO
Virgin Australia CEO Jayne Hrdlicka

Virgin’s new ownership proving successful:

Under the ownership of U.S. private equity group Bain Capital, Virgin Australia continues to rebuild its fleet of Boeing 737s.

The airline emerged from voluntary administration last year and handing back many of its planes to lessors.

Is recovery building in Australia’s travel sector?

The recovery in the Australian domestic aviation market has been greatly impacted by recent lockdowns in states such as New South Wales and Victoria.

Those restrictions are affecting more than half of the country’s population right now, which have resulted in airlines having to cut capacity and idle thousands of workers without pay.

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Money

Biden is “discussing” support for Israel over Iran oil strike

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The Biden administration believes it’s still “appropriate” for Israel to continue its ground and air attacks on Hezbollah.

The Middle East is a tinder box as Israel retaliates to Iran’s bombing earlier this week as well as fighting Hamas, Hezbollah and the Houthis in Gaza, Lebanon and Yemen. But what are the economic and geo-political implications? #featured #trending

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Money

Defence shares rise to record high following Middle East attacks

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Stocks retreated Tuesday, with rising tensions in the Middle East cooling investor momentum after a strong quarter.

Oil prices eased and stocks recovered some ground after initial reports, as hopes grew that damage from the attack and any Israeli response would remain limited.

This market drop underscores the delicate balance between geopolitical risk and economic optimism. #featured #trending

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U.S. Feds in no ‘hurry’ to cut rates as confidence in economy grows

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Fed Reserve Chair Jerome Powell indicated the U.S. central bank was not “in a hurry” after new data boosted confidence in ongoing economic growth and consumer spending.

Fed Chair Jerome Powell says “disinflation has been broad-based,” and recent data suggests progress towards the Fed’s 2% inflation target.

Powell says the Fed is not rushing to lower rates but will make decisions based on how the economy evolves.

When asked about rate cuts, Powell says it’s a process that will “play out over time,” signalling a steady but cautious approach. #featured #trending

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