All Asia Pacific news – Page 243
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NewsUSAF B-1B stars in Asia-Pacific show of force
The US Air Force (USAF) and Japan Air Self-Defence Force (JASDF) have mounted a show of force intended to demonstrate a doctrine for quickly deploying combat assets to the Asia-Pacific region. The activity involved a Boeing B-1B bomber operating a 30h sortie from Ellsworth AFB, South Dakota, to Japan’s Draughon ...
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NewsAustralia unveils agricultural freight export network amid disrupted supply chains
Australia has rolled out a freight export service network, aimed at re-establishing global supply chains and accelerate exports of agricultural and fisheries exports to key overseas markets. The network comprises 15 airlines, freight service providers and freight forwarders, such as Qantas, Singapore Airlines, Emirates and FedEx. The Australian ...
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NewsVietJet records 14% decline in 2019 profit
VietJet Air saw its operating profit in 2019 decline 14.3% to D4.98 trillion ($211 million), down from the previous year’s profit figure of D5.8 trillion. Consolidated revenue for the year ended 31 December 2019 declined 2.8% to D52 trillion. Net profit meanwhile fell 20.9% to D4.22 trillion. Cash and cash ...
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NewsAsian lessors ‘better sheltered’ from coronavirus: Goldman Sachs
Asian aircraft lessors with strong shareholder backing and deep pockets are better positioned to weather the coronavirus crisis than their counterparts in other regions which may be less well-capitalised, says Goldman Sachs. The severity of the coronavirus pandemic “could create some real concerns to some players”, though Asia is “better ...
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NewsSIA’s fund-raising plan is ‘gold standard’: Goldman Sachs
Goldman Sachs deems Singapore Airline’s plans to raise up to S$15 billion ($10 billion) the “gold standard” among coronavirus-related rescue packages for airlines. “We view that as really the gold standard for the packages that have been put in place,” Nicola Dondi, managing director at Goldman Sachs (Asia), said at ...
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Airline BusinessGrounded commercial aircraft around the world – in pictures
Parked aircraft have become commonplace at airports in all regions as the coronavirus outbreak prompts border restrictions and plummeting demand for air travel
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NewsAsiana Airlines gets new loans from state banks: reports
South Korea’s Asiana Airlines has received additional loans from two state banks as it grapples with the coronavirus crisis, according to media reports. The Korea Development Bank (KDB) and the Export-Import Bank of Korea will inject W1.7 trillion ($1.4 billion) into South Korea’s second-largest carrier, Yonhap and Reuters reported on ...
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NewsTraffic at Asia-Pacific airports hits ‘rock bottom’: ACI
Asia-Pacific airports have seen traffic hit “rock bottom” due to the coronavirus outbreak, said the Airports Council International (ACI) Asia-Pacific. According to preliminary traffic data the trade association released on 20 April, 18 airports in major aviation markets in Asia-Pacific and the Middle East saw traffic plummet by 95% by ...
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Airline BusinessThe lessors with the most exposure to Virgin Australia
Singapore-based Avation is the lessor with the highest exposure, by number of aircraft, to Virgin Australia, which has entered voluntary administration. Goshawk, meanwhile, has the most lease rentals to lose if the airline cannot make payments. Avation has 13 aircraft with the Brisbane-based carrier, including 11 ATR 72s on operating ...
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NewsEtihad open to ‘constructive’ talks on Virgin Australia restart
Virgin Australia’s biggest shareholder Etihad Airways says dealing with the coronavirus impact on its own business meant it was unable to provide further funding to the carrier, but that it remains open to “constructive discussions” over its potential restart.
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Airline BusinessAir freight market goes into overdrive
While passenger airlines have heavily reduced their services over recent weeks, the air cargo market has gone into overdrive as a result of the coronavirus pandemic.
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NewsOver 10 parties show interest in Virgin Australia: administrator
The administrators for Virgin Australia note there is healthy interest in recapitalising the airline and intend to bring it out of administration as quickly as possible. “There are in excess of 10 parties known to us who have got a keen interest in being part of the restructure of Virgin,” ...
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NewsUnions urge government to offer Virgin Australia support
Unions are calling on the government to help support Virgin Australia after the airline entered voluntary administration today. The country’s second-largest carrier has appointed Deloitte to help it recapitalise and make it through the coronavirus crisis after talks with various parties, including the government, to secure financial support failed to ...
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NewsCanberra wants ‘market-led’ solution for Virgin Australia recap
Canberra does not want to bail out Virgin Australia and wants to see a “market-led” solution to the airline’s recapitalisation efforts. Australia’s treasurer Josh Frydenberg told a press conference today: “Virgin Australia is a very good airline, performing a very important role and this is a difficult day for its ...
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NewsAVIC AG600 testing moves to the sea
The AVIC AG600 amphibian has moved to a new stage in its testing campaign, operating flights over the sea. Later in 2020, the aircraft is scheduled to conduct its first takeoff from the ocean surface, according to a China Daily report quoting the aircraft’s manufacturer. Video: China’s AG600 ...
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NewsChinese airline market faces consolidation: HSBC
Consolidation among Chinese carriers appears likely, given the “unprecedented challenges” that the global airline industry is facing. A HSBC Global Research report into the Chinese airline industry says it does not “rule out the possibility of further consolidation”, adding that the three largest Chinese carriers — Air China, China ...
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NewsVirgin Australia enters voluntary administration
Virgin Australia has entered voluntary administration as it seeks to recapitalise the business. “The decision comes as the group has continued to seek financial assistance from a number of parties, including state and federal governments, to help it through the unprecedented crisis, however is yet to secure the required support,” ...
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NewsST Engineering clinches $589m in Q1 aerospace contracts
ST Engineering reiterates that its order book “remains robust” despite the coronavirus outbreak. The Singapore-based company adds, however, that it is in discussion with customers about deferments or cancellations. For the quarter ended 31 March, ST Engineering’s aerospace unit clinched about S$838 million ($589 million) in contracts, ...
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NewsHAECO rolls out passenger cabin freight stowage solution
HAECO’s cabin solutions unit has launched a new stowage concept which will allow airlines to combine passengers and cargo in the main cabin. The concept comes amid depressed passenger traffic due to the coronavirus outbreak, which has led to a growing number of carriers using passenger aircraft to fly ...
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NewsANA lowers full-year forecast on coronavirus impact
All Nippon Airways’ parent company has revised down its financial results forecast for the fiscal year ended 31 March 2020, as the coronavirus outbreak batters air traffic. ANA Holdings expects operating revenues to come in at Y1.97 trillion ($18.3 billion), Y120 billion lower than the previous forecast disclosed on 29 ...