All Asia Pacific articles – Page 233
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NewsKhazanah banking on Firefly if MAB restructuring fails: report
Malaysia’s regional turboprop operator Firefly could replace its parent as national carrier should Malaysia Airlines fail to reach an agreement with creditors on restructuring plans, the managing director of the country’s sovereign wealth fund Khazanah Nasional has said. “Among the alternative options that can be considered is [that] Khazanah is ...
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NewsJayne Hrdlicka to replace Scurrah as Virgin Australia boss
Virgin Australia chief executive Paul Scurrah will step down from his position following the conclusion of the airline’s sale to Bain Capital. “Over the last 18 months, I have had the great privilege of being the CEO and Managing Director of the Virgin Australia Group,” he says. Source: ...
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NewsVaccine key to full travel recovery: Singapore transport minister
Singapore Transport Minister Ong Ye Kung has offered a cautious outlook for air travel amid the coronavirus pandemic. In an interview with Bloomberg television, Ong described the tradeoff leaders faced in March, when covid-19 was less understood and there was a shortage of testing capacity. Source: Greg Waldron ...
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NewsEastar Jet seeks new buyer with job cuts, restructuring: reports
South Korea’s Eastar Jet is going ahead with plans to cut 605 jobs as part of its efforts to attract a new investor, according to local media reports. Further job cuts are expected following additional restructuring measures, broadcaster KBS World reported on 13 October. Source: Wikimedia Commons An ...
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InterviewMRO Japan taps domestic market for growth amid pandemic
Travel restrictions stemming from the coronavirus pandemic may have crimped international travel, but for one Japanese MRO company, it has presented an opportunity to look inward. MRO Japan, an All Nippon Airways joint venture based on Okinawa island, had intended to begin line maintenance services to carriers from Asian ...
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NewsVietnam Airlines warns of big loss for first nine months of 2020
Vietnam Airlines has warned of a consolidated loss of D10.8 trillion ($464 million) in the first nine months of 2020, as the coronavirus pandemic takes its toll on operations. The company adds that it expects consolidated revenues of D23.9 trillion for the first nine months of the year, a quarter ...
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NewsRotorcraft Asia postponed three months to mid-2021
The organiser of Singapore’s biennial Rotorcraft Asia and Unmanned Systems Asia (RCA-UMSA) event have postponed the show three months to 27-29 July 2021. The show, co-located at Changi Exhibition Centre with the Imdex naval show, had originally been planned for 30 March to 1 April 2021. Source: Greg ...
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NewsChina Southern prices CNY16 billion convertible bond
China Southern Airlines has announced pricing of an upcoming convertible bond issue that is set to raise CNY16 billion ($2.4 billion) for the carrier. The bonds, convertible to mainland China-listed A-shares, will bear 0.2% interest in the first year, 0.4% in the second year, 0.6% in the third year, 0.8% ...
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NewsAirshow China confirms indefinite postponement, citing pandemic
The organisers of the biennial Airshow China event in Zhuhai have officially confirmed the show’s cancellation, a month after an initial announcement was hastily retracted. A notice on the show’s website gave no indication as to when the next show will take place, except to say that the new dates ...
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NewsChina Eastern parent gets CNY31 billion cash injection
China Eastern Airlines’ parent company, China Eastern Group, has received a CNY31 billion ($4.6 billion) capital boost from four state-owned enterprises. The four companies involved in the capital increase are China Life Investment Holdings, which will inject CNY11 billion; Shanghai Jiushi Group with CNY10 billion; as well as China Guoxin ...
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NewsAustralian MRTTs to receive communications, mission system upgrades
Canberra plans to upgrade the communications and mission system equipment aboard its fleet of Airbus Defence & Space A330 multi-tole tanker transports (MRTTs). The project will bring the Royal Australian Air Force’s (RAAF’s) locally-designated KC-30A fleet up to the latest standard for the type, says Airbus. Source: Commonwealth ...
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NewsLessors reject Malaysia Airlines’ restructuring plan: report
Most of Malaysia Airlines’ lessors have rejected a restructuring plan it proposed, according to a media report. Lessors claiming to represent 70% of the aircraft and engines leased to the airline group have called the plan “inappropriate and fatally flawed” and pledged to challenge it, Reuters reported on 10 October, ...
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NewsThai Vietjet charts modest expansion amid weak market
Thai Vietjet Air plans to both grow its fleet and add staff even though domestic air travel with Thailand remains subdued amid the coronavirus pandemic. The airline says it plans to grow its fleet to 15 aircraft “by 2021”, and is in the process of hiring additional flight crew, ground ...
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Airline BusinessAirline coronavirus recovery tracker: October 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.
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InterviewST Engineering’s new aerospace chief sees opportunity amid pandemic crisis
ST Engineering’s aerospace unit saw a leadership change on 1 October, when Jeffrey Lam took the helm. While the industry may be mired in crisis, Lam believes there are still plenty of opportunities for innovative companies.
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NewsGolden Week adds shine to China’s domestic airline recovery
Chinese airlines carried more than 13 million passengers across the recent Golden Week holidays in October, with the number of flights mounted during the period close to pre-pandemic numbers. Chinese carriers mounted more than 117,000 flights between 1 to 8 October. Of these, a large majority — nearly 110,000 ...
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NewsPerson ‘more likely to be hit by lightning’ than catch Covid-19 in aircraft
Data suggests that an individual has a much greater chance of being hit by lightning over a 12-month period than they would of catching Covid-19 during a commercial flight, according to IATA.
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NewsZipair Tokyo to start passenger flights on 16 October
Japanese start-up Zipair Tokyo will begin passenger flights to Seoul Incheon on 16 October after a planned earlier launch was delayed by the Covid-19 crisis.
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NewsAirports saw 58% drop in passengers during first half of 2020
Worldwide airport passenger numbers were down 58.4% year on year during the first half of 2020 as the pandemic weighed on travel demand, according to ACI World data released today.
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Airline BusinessCreditors face painful choice over AirAsia X
AirAsia X has asked creditors to accept an epic debt haircut, offering two painful options amid an airline industry in crisis. Announced on 6 October, the plan, if approved, would see liabilities of some MYR63.5 billion ($15.3 billion) reduced to just MYR200 million payable within the next five years at ...