All Asia Pacific articles – Page 243
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NewsVirgin Australia owes creditors $4.4 billion: administrators
Virgin Australia owes just over A$6.8 billion ($4.4 billion) to more than 12,000 creditors, its administrators have disclosed. Meanwhile, Perth Airport has already moved to seize a number of Virgin Australia aircraft over outstanding payments. “Virgin has significant outstanding invoices from Perth Airport for airfield and terminal use charges – ...
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AnalysisAmid pandemic hit, whither Asia-Pacific’s mega airport projects?
Asia-Pacific is home to a number of mega airport projects, from Changi’s fifth terminal, to Hong Kong’s three-runway system. As the coronavirus outbreak continues to wreak havoc on the industry, is it time to give the mega airport concept a rethink?
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NewsIndonesia bans commercial flying until 1 June
Indonesia has banned commercial flying from 24 April until 1 June, in a bid to prevent the spread of the coronavirus. The ban on commercial flying was part of a larger travel ban imposed by the Indonesian government on Indonesians seeking to travel back to their hometowns to mark the ...
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NewsOperators of 787s warned after latest ILS deviation incident at Hong Kong
Hong Kong authorities have warned Boeing 787 operators of possible adverse autopilot behaviour during localiser capture at the city’s international airport, after the latest in a string of incidents involving the type. A newly-issued NOTAM instructs carriers to check a Boeing flight crew operations bulletin referring to “anomalies” in localiser ...
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NewsIndia’s Air Deccan eyes post-crisis relaunch with new aircraft
Air Deccan is in talks with an aircraft manufacturer as the Indian carrier prepares to restart operations once the coroanvirus crisis stabilises, chief executive Arun Kumar Singh has disclosed.
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NewsAirbus withdraws from MRO JV with Thai Airways: report
Airbus has reportedly backed out of a joint venture with Thai Airways to build a new MRO campus at Thailand’s U-Tapao airport. A report from local newspaper The Nation cites Thai Airways Technical executive vice president Cherdphan Chotikhun as saying that the European airframer had withdrawn from the cooperation as ...
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NewsIATA warns of more airline failures in Asia-Pacific
More carriers in the Asia-Pacific region could fall as a result of the coronavirus crisis, if governments fail to step in with relief measures. Highlighting the “worsening” impact of the pandemic on carriers in the region, airline body IATA also identified eight countries which are most at risk. These countries ...
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NewsGaruda outlines measures to ride out coronavirus pandemic
Garuda Indonesia has outlined the measures undertaken in light of uncertainties caused by the coronavirus pandemic. In response to a stock exchange query made on 16 April, the airline says it has begun negotiations with lessors to delay payment on leased aircraft and to extend their lease periods. It will ...
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NewsAir New Zealand scraps Buenos Aires and London routes
Air New Zealand is scrapping services to London and Buenos Aires, predicting that demand will not recover quickly enough to make the routes viable. It is also postponing the start of its non-stop Auckland-New York service from 29 October 2020 until late 2021 at the earliest, the carrier said today. ...
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PodcastAirline Business podcast: What will industry look like when flying restarts?
With talk in some regions turning to how airline markets might open up again as coronavirus cases peak, Graham and Lewis examine the current state of the industry and where it might be heading. Among the topics considered, they look at Virgin Australia’s demise and the moral hazard faced by ...
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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.