All Asia Pacific articles – Page 242
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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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InterviewBabcock Australasia sees Bell 429 as special forces star
While UK-headquartered Babcock’s defence credentials in Australia are clear – notably in the naval sector – the company hopes that its civil rotorcraft experience in the country will enable it to prevail in a three-way contest to supply Canberra with new special forces helicopters.
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NewsCebu Pacific’s losses worsen in second quarter
Cebu Pacific’s financial losses deepened in the second quarter of this year as the impact of the Covid-19 pandemic began to be felt more severely. The Philippine airline and its subsidiaries made an operating loss of Ps6.29 billion ($129 million) in the three months ended 30 June, it reports. This ...
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NewsHong Kong airport resumes transit for passengers from mainland
Hong Kong International Airport will allow passengers arriving from mainland China to transit during the period 15 August to 15 October. “On the other hand, transfer/transit services to destinations in mainland China will remain unavailable at HKIA,” says the airport. It did not give a reason for the resumption and ...
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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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NewsSikorsky secures five-year support deal for Australian MH-60Rs
Sikorsky has secured a $200 million sustainment contract for the Royal Australian Navy’s fleet of 24 MH-60R maritime helicopters.
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NewsCathay appears to switch more A350-1000s to -900s
Cathay Pacific appears to have converted a pair of Airbus A350-1000s to the smaller -900 variant, the Hong Kong-based carrier’s half-year accounts indicate. Airbus’s backlog figures to the end of July show Cathay had ordered 46 A350s, a mix of 26 A350-900s and 20 of the larger -1000s. It has ...
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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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Airline BusinessSriLankan focuses on cargo, repatriation pending traffic recovery
SriLankan Airlines chairman Ashok Pathirage has had to navigate an extremely challenging environment since assuming his role in December 2019. A prominent Sri Lankan businessman, Pathirage is also the chairman and founder of local conglomerate Softlogic Holdings, and runs other local companies as well. He joined the national carrier at ...
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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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NewsThai AirAsia posts big operating loss amid broader group woes
Thai AirAsia’s dismal financial performance in the second quarter underlines the devastating impact of coronavirus for the AirAsia Group. Thai AirAsia parent Asia Aviation saw its operating loss for the quarter ended 30 June more than double to Bt1.8 billion ($58 million), from Bt798 billion a year earlier. Revenue fell ...
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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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NewsOver 6,000 SIA staff have taken unpaid leave since March
More than 6,000 Singapore Airlines Group employees, including ground staff, pilots and cabin crew have taken varying days of unpaid leave since they were first offered to do so in March. Singapore Airlines tells Cirium that the leave starts from a minimum of seven days and that more than 1,700 ...
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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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NewsHong Kong extends waiver for ‘use it or lose it’ slot rule
Hong Kong’s civil aviation authority has extended a waiver for a “use it or lose it” rule relating to slot utilisation, giving carriers more flexibility to adjust their schedules amid the challenging Covid-19 environment. The Worldwide Airport Slot Guidelines (WASG) rule stipulates that airlines need to operate from their slots ...
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NewsGreater Bay Airlines applies for AOC in Hong Kong
A new carrier hoping to set up in Hong Kong, Greater Bay Airlines, has applied for an air operator’s certificate. The AOC application was submitted in July and is being processed, Hong Kong’s Civil Aviation Department says in a statement to Cirium, without giving further details. If successful, the airline ...
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NewsIndiGo aims to raise up to Rs40bn through equity placement
Low-cost carrier IndiGo’s parent Interglobe Aviatoin has outlined plans to raise up to Rs40 billion ($533 million) through a planned institutional placement.
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NewsAirAsia X carried fewer than 2,300 passengers in second quarter
Long-haul low-cost carrier AirAsia X carried only 2,291 passengers during the three months ended 30 June.
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NewsQantas raises only $51.4 million with share-purchase plan
Qantas has raised only A$71.7 million ($51.4 million) from a share-purchase plan (SPP) intended to raise as much as A$500 million, according to a 10 August filing to the Australian Securities Exchange.