All Asia Pacific articles – Page 244
-
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.
-
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,” ...
-
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 ...
-
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 ...
-
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 ...
-
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 ...
-
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,” ...
-
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, ...
-
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 ...
-
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 ...
-
NewsCDB cancels 29 737 Max orders, defers others
CDB Aviation is cancelling 29 of 99 Boeing 737 Max orders while making adjustments to the rest of its orderbook for the type. It plans to push back the delivery of 20 undelivered aircraft to “various dates in 2024, 2025 and 2026” and, without providing further details, downgauge all remaining ...
-
NewsBig Japanese 787 suppliers suspend operations
Boeing’s Tier 1 manufacturers in Japan have suspended 787-related operations, following the US airframer’s factory closures in the USA due to the spread of the coronavirus. Kawasaki Heavy Industries and Subaru’s aerospace unit both announced the closure of their 787-related factory lines from 20 April until May. Kawasaki’s ...
-
NewsAVIC FTC-2000G snags first export order
The AVIC Guizhou FTC-2000G has bagged its first export deal to an unnamed Southeast Asian country. The order was revealed in a report by the state-run Global Times newspaper that was also posted on the website of the Chinese defence ministry. Source: Greg Waldron The FTC-2000G made its ...
-
NewsIndian carriers to fully refund ‘lockdown’ tickets
Indian airlines have been asked to issue a full refund for tickets booked for travel during the country’s recently extended lockdown period, and this could impact their cash position. In a memorandum published on its official Twitter account, the Directorate General of Civil Aviation (DGCA) said on 16 April that ...
-
NewsChinese carriers warn of ‘substantial’ Q1 loss from pandemic hit
Two of China’s largest airlines have warned of a “substantial loss” for their first-quarter financial results. Both China Eastern and China Southern Airlines flagged the financial hit in their monthly traffic results for March, where they note that even with “timely measures” taken to mitigate the of the coronavirus outbreak, ...
-
AnalysisAPAC airlines, airports weigh up post-Covid-19 measures
Airlines and airports in Asia-Pacific are looking ahead to how travel behaviour may need to change and the necessary measures to reassure the travelling public as they cautiously prepare to restart operations after the Covid-19 crisis. The spread of Covid-19 has wiped out air travel, leaving skies empty and airports ...
-
NewsVirgin Australia bailout intensifies local war of words
Qantas does not conceal its distaste for any state support tailored to its rival Virgin Australia, which recently requested a A$1.4 billion ($890 million) bailout from the federal government to ride out the coronavirus-induced downturn. Alan Joyce, Qantas’s chief executive, said in a television interview on 20 March that it ...
-
Airline BusinessAir Astana’s Foster eyes tricky return to normalcy post coronavirus
Air Astana chief executive Peter Foster is upbeat about the airline’s future in the post-coronavirus world, but sees a number of challenges before normalcy returns.
-
NewsVietJet secures repayment deferral on aircraft loans
Low-cost carrier VietJet has managed to secure deferrals of loan repayments for aircraft purchases from most of its lenders. VietJet states that it has been “working hard” with its suppliers, local and foreign financial institutions to cut 30-70% of prices and service fees, and to extend payment terms. ...
-
NewsPost-pandemic demand recovery ‘impossible to predict’: Cathay
March proved to be yet another month of weak traffic figures for Cathay Pacific, which states that it is “impossible to predict” when passenger demand will recover from the coronavirus crisis. Commenting on its traffic results for March, Cathay adds that it is not seeing any improvement so far in ...