All articles by Alfred Chua – Page 93
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NewsSIAEC acquires remaining shares in Airbus joint venture
SIA Engineering has completed the acquisition of the Airbus’ shares in a Singapore-based MRO joint venture, Heavy Maintenance Singapore Services (HMSS). The deal, which closed on 27 August, sees SIAEC acquire the remaining 35% of HMSS shares owned by Airbus services unit Airbus Services Asia-Pacific, at a book value ...
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NewsAirAsia X posts record quarterly loss amid ongoing grounding
Beleaguered long-haul, low-cost carrier AirAsia X will remain grounded “in the near term”, as it trims its fleet and network amid a record operating loss. The carrier, which only operates international routes, is also looking to sell two Airbus A330 aircraft to raise cash, and negotiating the early return of ...
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NewsSingapore and Indonesia mull essential travel ‘green lane’
Singapore and Indonesia will begin discussions over a “green lane” for essential travel between the two countries.
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NewsAirAsia to focus on domestic recovery amid widened Q2 loss
AirAsia Group anticipates a return to profitability “in the years to come”, with demand — particularly for domestic travel — expected to increase in the second half of the year. At the release of its second-quarter financial results, group chief executive Tony Fernandes says AirAsia Group has reduced its costs ...
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NewsScoot converts A320 into temporary freighter
Singapore-based low-cost carrier Scoot has begun cargo charter operations using a freight-optimised Airbus A320ceo, tapping on demand as an alternative revenue source. The aircraft, registered 9V-TAZ, underwent a four-day modification programme earlier this month. That involved the removal of all 180 seats, as well as the installation of placards to ...
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NewsChinese carrier Q2 losses expected to narrow amid domestic recovery: HSBC
China’s three largest carriers — Air China, China Eastern Airlines and China Southern Airlines — are expected to see losses narrow in the second quarter helped by strong domestic traffic recovery and a flat Chinese Yuan against the US dollar.
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NewsTransit passengers lift Cathay July traffic figures
Cathay Pacific, which recently reported a record first half operating loss, carried a significantly higher number of passengers for July, as transit passengers lifted passenger volume for the month. Together with its regional arm Cathay Dragon, the carrier carried nearly 43,000 passengers in July, a 58.5% month on month ...
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NewsNokScoot woes drag Nok Air deeper into red
Thai low-cost carrier Nok Air saw a staggering increase in its first-quarter losses, led mostly by trouble at its now-shuttered long-haul subsidiary NokScoot. Nok, which recently took a similar path as compatriot Thai Airways to file for business rehabilitation, reported an operating loss of Bt4.4 billion ($141 million) for the ...
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NewsTroubled Thai sees operating loss more than double
Thai Airways International, which recently entered court-supervised business rehabilitation amid longstanding financial woes, plunged deeper into the red in its half-yearly financial results. For the six months ended 30 June, the Star Alliance carrier reported an operating loss of Bt18.3 billion ($590 million), widening the Bt7.9 billion operating loss it ...
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NewsST Engineering Aerospace sees first-half profit shrink
ST Engineering’s aerospace unit remained profitable in its half-yearly financial results, though both operating and net profits saw year-on-year declines. For the six months ended 30 June, the unit made an operating profit of S$116 million ($84.4 million), a 21% decrease year on year. It also saw net profit fall ...
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NewsTaiwanese carriers bounce back to profitability despite global downturn
China Airlines and EVA Air reported operating profits for their latest quarterly financial results, placing them among the few airlines to turn a profit during a pandemic-induced economic downturn. For the three months ended 30 June, both carriers made a strong comeback from a loss-making previous quarter — despite ...
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NewsST Engineering aerospace unit sees leadership change
ST Engineering aerospace president Lim Serh Ghee will be stepping down from his current role, and be appointed the group’s chief operating officer. His current deputy, Jeffrey Lam, will be promoted to lead the aerospace unit. Source: ST Engineering Outgoing ST Engineering aerospace chief Lim Serh Ghee ...
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NewsCathay not cancelling 777-9 orders, as it warns of bleak second half
Cathay Pacific has stressed that it is in discussions with Boeing about deferring — not cancelling — its orders for the 777-9 widebody. At a briefing after it disclosed record first half losses, Cathay chief operations and service delivery officer Greg Hughes says it is a “deferral of all 21 ...
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NewsCathay plunges to record HK$8.7 billion loss in ‘most challenging’ first half
Cathay Pacific Group reported a staggering operating loss of HK$8.7 billion ($1.13 billion) for its half-year financial results, in what its chairman called the “most challenging” period for the group in its 70-year history. Cargo proved to be the sole bright spot for the troubled group, which in recent months ...
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NewsEVA Air hints at changes to 787 orderbook
EVA Air has entered negotiations with Boeing about its remaining 787-10 orders, hinting at a possible deferral or cancellation of some aircraft. The Star Alliance carrier says it is doing so “in response to changes in market demand and continuous optimisation of…network and fleet”, as a result of depressed travel ...
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Airline BusinessAsia-Pacific airlines temper optimism with caution - but for how long?
While capacity is expected to increase in coming months, airlines in and around the region warn of material losses in upcoming financial results. With the pandemic-induced downturn showing no sign of easing off anytime soon, they are finding it increasingly trickier to match expectation with reality.
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![[Photo 1] Korean Air producing B787’s Aft. Wheel Well Bulkhead](https://d3lcr32v2pp4l1.cloudfront.net/Pictures/100x67/2/1/8/72218_photo1koreanairproducingb787saft.wheelwellbulkhead_138571.jpg)
NewsKawasaki, Korean Air renew 787 aft wheel well bulkhead contract
Korean Air has extended its contract with Boeing tier One supplier Kawasaki Heavy Industries to produce aft wheel well bulkheads for Boeing 787s. The extension will span the next nine years, says the carrier, which has been producing 787 parts, like wingtips and wing flap support fairings, since 2005. ...
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NewsTigerair Australia to cease operations
Low-cost operator Tigerair Australia will cease operations owing to a lack of demand in the Australian market. Parent company Virgin Australia states that it was shutting its low-cost arm down as “there is not sufficient customer demand to support two carriers at this time”, in an oblique reference to ...
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NewsVirgin Australia moves to all-737 fleet, cuts staff as it exits administration
Virgin Australia will operate only Boeing 737s, focusing on its domestic and short-haul networks, as it enters a post-administration future with new owner Bain Capital. As part of the “resetting…to meet lower global and Australian demand”, the carrier, which entered voluntary administration in April, will also be cutting about ...
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NewsSpaceJet-related losses hurt Mitsubishi Heavy earnings
The beleaguered SpaceJet regional aircraft programme, which recently saw its developmental budget halved, made up the bulk of losses parent company Mitsubishi Heavy Industries (MHI) incurred, in its first quarter earnings. For the quarter ended 30 June, the SpaceJet programme made a loss of Y68.8 billion ($648 million), due mainly ...