Airlines

Corona Capital: Kazakhs, Norwegians, Airlines

15 Oct 2020

Concise views on the pandemic’s corporate and financial fallout: Kaspi gives ECM bankers something to smile about; Norway’s sovereign wealth fund has a so-so third quarter; and United Airlines has more bad news on jobs.

Corona Capital: Black Friday, JPMorgan’s new tower

14 Oct 2020

Concise views on the pandemic’s corporate and financial fallout: Walmart’s Black Friday rejig makes for a curious experiment; JPMorgan goes all-in on New York real estate.

Corona Capital: Oil, Delta, Hunger

13 Oct 2020

Concise views on the pandemic’s corporate and financial fallout: OPEC and the International Energy Agency issue forecasts that bode ill for crude demand; the U.S. airline steers through turbulence; and a food crisis is exacerbating problems facing the most vulnerable in society.

Corona Capital: NBA, Polish e-commerce, Tesco

12 Oct 2020

Concise views on the pandemic’s corporate and financial fallout: A major basketball bake-off fails to pull in the online crowds; Poland’s biggest e-commerce company flies from the shelves; and UK grocer Tesco wrestles with supply chain problems.

Airline employees are pawns in U.S. bailout debate

1 Oct 2020

American is going forward with 19,000 job cuts, at least temporarily, as Congress tries to agree on a bailout. Even if the carrier shrinks permanently, many of those jobs should return. That means Washington can justify helping rather than keeping workers in stressful limbo.

Corona Capital: NYC

30 Sep 2020

Concise views on the pandemic’s corporate and financial fallout: New York City’s economic reboot comes up against a new outbreak.

American Airlines bailout plea looks cheeky

24 Sep 2020

The company wants more public money to avoid furloughing 19,000 workers. But it should have $13 bln of liquidity by the end of the quarter, including discounted loans competitors eschewed. Even if American can’t stay afloat, there’s Chapter 11. The time for handouts is over.

Corona Capital: Coca-Cola, Viral inequality

22 Sep 2020

Concise views on the pandemic’s corporate and financial fallout: Coca-Cola, once an icon of temperance, is diving into the hard seltzer market; and California is considering using the disparity in numbers of Covid cases between neighborhoods to steer its response.

Corona Capital: Playboy, Mondelez

21 Sep 2020

Concise views on the pandemic’s corporate and financial fallout: The owner of perhaps the most famous adult magazine is hoping a SPAC can give it a new lease on life; Mondelez wants to expand its range of healthy snacks – but they’re not always the best money spinners.

Corona Capital: Newspaper rivals, College football

17 Sep 2020

Concise views on the pandemic’s corporate and financial fallout: the Wall Street Journal hits up the New York Times’ printing presses; U.S. college football’s Big Ten makes a comeback.

Battered airlines deploy frequent-flyer parachute

14 Sep 2020

Delta is raising $6.5 bln on the back of its miles program; other U.S. carriers have done the same. Transforming what starts as a liability into an asset sounds like accounting magic. But credit card issuers, who buy miles, make them valuable, especially when people stay home.

Corona Capital: Amazon, NYC and Trump

14 Sep 2020

Concise views on the pandemic’s corporate and financial fallout: Amazon’s hiring boom highlights its weakness, and U.S. President Donald Trump could throw New York City a bone.

Corona Capital: Banks and government, Ryanair cash

4 Sep 2020

Concise views on the pandemic’s corporate and financial fallout: Britain’s finance minister Rishi Sunak could hurt taxpayers by forcing lenders to chase pandemic borrowers; and the Irish airline’s war chest will come in handy if rivals go under.

Ethiopian swoop would seal South Africa’s descent

4 Sep 2020

Pretoria’s bankrupt state airline may secure a parachute from Addis Ababa, a stunning reversal of fortunes from the 1990s. After apartheid, South African firms blazed trails across the continent. With corruption and dogma hobbling their home base, the tables are turning.

Corona Capital: Pools, Dell

28 Aug 2020

Concise views on the pandemic’s corporate and financial fallout: Pool firm’s dive into public markets, Dell’s hardware resilience.

Corona Capital: Europe’s recovery, Indian selloffs

21 Aug 2020

Concise views on the pandemic’s corporate and financial fallout: The latest economic reports from Britain, France and Germany paint a patchy picture; and why the virus will hinder New Delhi’s asset-sale programme.

Corona Capital: Nvidia, Air conditioners

20 Aug 2020

Concise views on the pandemic’s corporate and financial fallout: Nvidia goes gangbusters, HVAC units have their moment in the sun.

Corona Capital: Vegan eggs, Target’s online fiesta

19 Aug 2020

Concise views on the pandemic’s corporate and financial fallout: A maker of chicken-free egg products accelerates its IPO plans amid Covid-19, while U.S. supermarket group Target shows that preparedness is everything in e-commerce.

Corona Capital: Champagne, Canada, College chaos

18 Aug 2020

Concise views on the pandemic’s corporate and financial fallout: Champagne growers cut production; Canada’s finance minister quits over stimulus costs; and some American universities are collecting tuition fees before telling students that in-person classes can’t happen.

TUI equity call is probably a matter of when

13 Aug 2020

Anti-Covid-19 restrictions led Europe’s largest holiday operator to a 1.5 bln euro quarterly loss. Expensive German state loans have given boss Friedrich Joussen enough cash to last until next year’s hoped-for rebound. Even if it arrives, high debts make a rights issue likely.