All Asia Pacific articles – Page 241
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NewsAuckland airport uses Covid-19 downtime for runway replacement
Auckland airport is bringing forward runway pavement replacement work while operations are at a minimum during the Covid-19 outbreak. “We’ve experienced a significant reduction in flights and passenger numbers, with aircraft movements currently 90-95% lower than a normal busy day,” Andre Lovatt, general manager of airport development and delivery, said ...
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NewsJeju Air falls deeper into the red
Jeju Air’s first-quarter losses far exceed those reported in the full year 2019, and provisional financial results indicate a W63.8 billion ($52 million) operating loss for the January to March period. The group reported a W34.8 billion operating loss for the whole of 2019, encompassing a W57.8 billion operating profit ...
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Airline BusinessAsia-Pacific April deliveries collapse amid travel restrictions
Asia-Pacific airlines received just two new aircraft during April 2020, as travel restrictions stemming from the coronavirus epidemic played havoc with delivery schedules. Only two Chinese carriers received new jets, according to Cirium fleets data. Loong Air took an Airbus A320neo and Chengdu Airlines took a Comac ARJ21. ...
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NewsAir New Zealand to add more domestic flights, but no cheap fares
Air New Zealand is preparing to add more domestic flights as the country eases lockdown restrictions but warns that cheap fares will not be available. The carrier said today it plans to fly to most domestic airports when New Zealand moves to Level 2 of its lockdown, adding destinations such ...
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NewsAngkasa Pura II seeks strategic partner for airport development
Indonesian airport operator Angkasa Pura II (AP II) is searching for a strategic partner to jointly develop some of the airports it manages. Medan’s Kuala Namu International airport is one such airport, and discussions with potential candidates are ongoing. “We are pursuing the development of airports with a strategic partner, ...
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NewsNo further exposure to Virgin Australia, says SIA Group
Singapore Airlines Group says its financial exposure to Virgin Australia is limited and it is not obliged to inject capital. “On the recent announcement of Virgin Australia entering into voluntary administration, the SIA Group has no requirement or obligation to provide capital to Virgin Australia,” it said today in a ...
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NewsSIA Group flags ‘material’ final-quarter loss; renegotiates deliveries
The Singapore Airlines Group expects a “material” quarterly operating loss from the “severe impact” of the coronavirus outbreak, as it seeks to readjust aircraft deliveries and defer payments to its suppliers. However, it will still be in the black for the full financial year ended 31 March, thanks to “the ...
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NewsKorean Air to restart some international flights in June
Korean Air is reopening flights to international destinations in North America, Europe and Asia in June, as it prepares for Covid-19-related travel restrictions to ease. South Korea’s biggest airline said on May 7 that it will operate 32 of its 110 international routes in June, equivalent to 146 flights per ...
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NewsTrans-Tasman bubble efforts gather pace
A joint Australia-New Zealand business-led initiative has set up a new group to develop proposals for reopening the border between the two countries to drive travel as they recover from the Covid-19 crisis. Both Australia and New Zealand are currently closed to non-residents and anyone entering must undergo a 14-day ...
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AnalysisThe lessors exposed to Hainan Airlines’ financial woes
In April HSBC contended that the Chinese airline market was ripe for another round of consolidation, nearly 20 years after it saw a massive shake-up.
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NewsAirlines move to resume Cambodia services: report
Local and foreign carriers are moving to resume flights out of Cambodia, as the country works to overcome the impact of the coronavirus pandemic.
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Airline BusinessAsia’s bullish LCC orderbook confronts a bear trap
Following epic orders in the aviation bull market of the 2010s, Airbus and Boeing have significant exposure to the fate of the four major low-cost carrier groups in the Asia-Pacific. The 2010s were a heady time for Asia-Pacific low-cost carrier bosses such as AirAsia’s Tony Fernandes, Lion Air’s Rusdi Kirana, ...
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NewsQantas puts up another three 787-9s for $350 million
Qantas has secured an additional A$550 million ($350 million) in debt funding, secured against three wholly owned Boeing 787-9s. In March, the airline secured a A$1.05 billion, 2.75% interest loan for 10 years, posting as collateral seven of 11 787-9s described as unencumbered aircraft and “bought with cash in recent ...
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NewsAsia-Pacific governments cautious on cross-border travel
Asia-Pacific governments are taking a tentative approach to opening up international travel as the coronavirus pandemic starts to abate, with the possibility of a “bubble” containing Australia and New Zealand. In a press briefing following a virtual meeting with Australia’s national cabinet, New Zealand prime minister Jacinda Arden said that ...
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NewsQantas puts Project Sunrise on hold
Qantas is putting Project Sunrise on hold, citing the impact of the Covid-19 outbreak on air travel. “We do think there is a huge potential for Project Sunrise but the time is not right now given the impact that Covid-19 has had on world travel,” chief executive Alan Joyce said ...
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NewsATSB, ATR clarify ignition settings for flameouts
Following a double engine flameout on a Virgin Australia ATR 72-600, the airframer issued a clarification about the appropriate use of automatic and manual ignition. The incident occurred during the early evening of 13 December 2018 as the aircraft (VH-FVN) operated flight VA660 on the Sydney-Canberra route in stormy weather, ...
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AnalysisMalaysia Airlines’ search for a strategic partner
Nearly six years after Malaysian sovereign wealth fund Khazanah Nasional rescued and privatised Malaysia Airlines, the carrier is still posting losses while its search for a strategic partner continues. Khazanah stated in 2014 targets for the airline to achieve break-even by the end of 2017 and return to profitability the ...
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NewsHainan optimistic of rebound amid steep Q1 loss
Hainan Airlines swung back into the red for its first-quarter results for 2020, joining other Chinese carriers who reported losses amid the coronavirus outbreak. However, the carrier, China’s fourth largest, is optimistic its financial results will improve in the second quarter, as it “adjusts its business strategy” and cuts ...
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NewsJuneyao Air slips into first-quarter loss
China’s Juneyao Air swung to a loss in the first quarter of this year and expects further losses for the remaining first half of 2020 as the coronavirus pandemic puts a damper on demand. The Shanghai-based carrier posted a net loss of over CNY491 million ($69.5 million) in the first ...
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NewsVirgin Australia targets end-June sale: administrator
Twenty parties are interested in recapitalising Virgin Australia, administrator Deloitte said after the first creditors meeting held virtually on 30 April, and the airline aims to receive binding offers in June. “A large number of parties have expressed an interest, eight have signed non-disclosure agreements and negotiations are continuing with ...