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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

Why the meme-stock frenzy is unlikely to repeat

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GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

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Why are airlines after the Biden Administration?

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Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

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The mounting pressure on Government spends

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Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending

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