All Asia Pacific news – Page 210
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NewsGaruda sees quarterly losses narrow on revenue uptick
Garuda Indonesia trimmed its quarterly losses — led by a modest uptick in revenue — as it saw some degree of domestic recovery amid the coronavirus crisis. Releasing its results for the quarter ended 30 September, the Indonesian flag carrier posted an operating loss of $346 million, reversing the $171 ...
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NewsSIA edges capacity up as brutal 2020 nears end
Singapore Airlines (SIA) Group passenger capacity continues to rise as 2020 draws to a close, with the airline basing a fuel hedging metric on the assumption it will operate nearly 50% of pre-pandemic capacity by the end of 2021. In December 2020, the Group expects to operate 16% of pre-coronavirus ...
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NewsSIA converts two 777-300ERs into temporary freighters
Singapore Airlines has modified two Boeing 777-300ERs to carry cargo in the passenger cabins, tapping into freight as an alternative revenue stream as it copes with depressed passenger demand from the coronavirus crisis. The carrier states that the first of the two converted aircraft took off on 5 November, ...
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NewsSIA seals Airbus deferrals, Boeing negotiations reach ‘advanced stage’
Singapore Airlines Group has confirmed that its outstanding Airbus aircraft on order have been deferred and that it is close to concluding similar talks with Boeing. In today disclosing record half year losses amid the coronavirus crisis, SIA Group states that it has “concluded negotiations with Airbus on a revised ...
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NewsSteep impairment costs drag SIA to record S$3.5 billion net loss for half year
Singapore Airlines Group took on a hefty impairment charge of S$1.33 billion ($987 million) from the early retirement of 26 older aircraft — including seven Airbus A380s — which led to a record net loss in its half-yearly earnings. The group says that the 26 aircraft were “deemed surplus to ...
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Airline BusinessOnce prolific operators, Japanese majors bid sayonara to venerable 777 ‘Classics’
Once profilic operators of the Boeing 777, Japan Airlines and All Nippon Airways have recently announced that they will cut their 777 fleets by significant numbers. While not entirely a surprise given the state of the aviation industry, this marks the passing of an era for Japanese carriers, which have been intimately entwined with programme from its infancy decades ago.
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NewsJAL to raise Y168 billion in foreign and domestic share placements
Japan Airlines is looking to raise nearly Y168 billion ($1.6 billion) in share placements, part of which will go toward fleet development, as well as to its newly-formed low-cost unit Zipair Tokyo. The Oneworld carrier will issue more than 90 million shares, with nearly two-thirds to be offered in domestic ...
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NewsBAE, Boeing, Lockheed respond to new Japanese F-X RFI
BAE Systems, Boeing, and Lockheed Martin have replied to a request for information (RFI) related to work on Tokyo’s F-X future fighter programme. Japan’s Acquisition, Technology & Logistics Agency (ATLA) confirms that the RFI was issued on 16 September, with seven companies showing initial interest. Only BAE, Boeing and Lockheed ...
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NewsGMF AeroAsia falls to steep nine-month loss
GMF AeroAsia continued its loss-making streak for the year, reporting an operating loss of $178 million for the nine months ended 30 September. This was in contrast to the $24.5 million operating profit it made during the same period last year, and a significant jump from its six-month loss of ...
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AnalysisLessors submit proposals to Thai Airways – reluctantly
Thai Airways’ lessors were given a 4 November deadline to tell the carrier what by-the-hour rates, rental haircuts, and other concessions they would be willing to offer the struggling flag carrier to help with its restructuring. Sixteen lessors have exposure to the airline and its subsidiaries, to the tune of ...
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NewsUK fraud investigators probe Bombardier over Garuda Indonesia deals
UK fraud investigators are probing aircraft manufacturer Bombardier over contracts relating to Asian carrier Garuda Indonesia. The Serious Fraud Office states that it is investigating the manufacturer over “suspected bribery and corruption” in connection with orders or agreements with Garuda. It has not elaborated on the probe, pointing out that ...
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NewsAir cargo demand helps Korean to Q3 operating profit
Air cargo demand helped Korean Air eke out an operating profit of W7.6 billion ($6.5 million) in the third quarter — its second consecutive profitable quarter since the coronavirus struck — but its overall revenue was down more than half from a year earlier. The W7.6 billion operating result for ...
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NewsRex takes its first 737-800
Australia’s Regional Express (Rex) has taken delivery of its first of six Boeing 737-800 aircraft, as it mulls taking up to 10 examples by the end of 2021. The aircraft, stripped of its previous livery save for a ring of red round the engine nacelles, arrived in Sydney on 5 ...
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NewsThai puts 34 aircraft on sale, including entire 747 fleet
Embattled Thai Airways has put up its entire Boeing 747 and its 777-200/300 fleet up for sale, as it aims to raise cash amid a long-drawn business rehabilitation process. The Star Alliance carrier disclosed on its aircraft trading website that 34 aircraft from its fleet will be put up for ...
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NewsAirAsia X makes creditor status concession to Malaysia Airports
AirAsia X (AAX) has agreed to classify Malaysia Airports as a secured creditor, as it seeks to expedite its massive debt restructuring programme. “After consultation, AirAsia X has accommodated [Malaysia Airports] and made certain clarifications and revised the scheme under two separate classes ’A’ and ‘B’,” says the carrier in ...
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NewsTigerair Taiwan gets capital boost from parent China Airlines
China Airlines plans to inject more capital into low-cost unit Tigerair Taiwan, as part of a move to “optimise the capital structure” of the LCC. The SkyTeam carrier discloses that it will pump about NT$657 million ($23 million) into Tigerair Taiwan, bringing its total shareholding to nearly 76%. ...
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NewsPandemic shakes banks’ trust in state support of flag carriers
The Covid-19 crisis has forced lenders to reassess their traditional view of flag carriers as relatively safe credits due to their implied government support, two aviation financiers have suggested. Going into the crisis in March, Deutsche Bank’s Richard Finlayson expected Asian governments to be more supportive of their airlines and ...
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NewsNok Air green-lit to pursue restructuring
Nok Air has gained court approval to restructure under a business-rehabilitation process. In a 4 November notice to the Thai stock exchange, Nok chief executive Wutthiphum Jurangkool states that the central bankruptcy court has “ordered granting the company to be in business rehabilitation”. Source: Nok Air The 737-800 ...
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NewsAirline passenger demand ‘hit wall’ in September: IATA
Weak international travel demand continued to weigh heavily on the airline industry’s performance in September, according to the latest data from IATA.
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Airline BusinessAirline coronavirus recovery tracker: November 2020 update
Our regular examination of the latest global data for several key airline market indicators, including traffic and capacity in passenger and cargo markets, airport passenger throughput, in-service and stored fleets, jet fuel costs, and share price trends for the world’s largest groups.