Fleets – Page 903
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FLEET
Asian SALES - Singapore Aircraft Leasing Entreprise (SALE) has acquired a new Boeing 777-200 under a sale and leaseback deal with Korean Air. SALE has also delivered the first of two 737-300s to Singapore's SilkAir under a similar arrangement. The second aircraft is scheduled for delivery in April. Fortis ...
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Rescuers ride into PAL
Just as it looked as if it was all over for Philippine Airlines (PAL), a troop of white knights have emerged in the form of former Cathay Pacific Airways executives who have taken up senior management positions in Manila. The four high-level executives started working at PAL in mid-January ...
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Privatised Austrian to look east
Austria has revived plans to privatise it flag carrier in a move that will boost its expansion eastwards. The government is to relinquish its majority holding Austrian Airlines after it decided not to participate in a Sch3 billion ($240 million), capital raising programme. The state will remain the largest ...
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easyJet sees black
Privately owned easyJet has finally turned a profit, but the publication of its first set of results has provoked scepticism and speculation that it may soon be up for sale. The carrier's 1998 pre-tax profit of £2.3 million ($3.8 million) on a turnover of £77 million, appears to belie ...
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End of an era
After the demise of the Japanese leveraged lease, the markets for tax based aircraft leasing are being shut down one by one. What other sources of funding will replace tax leasing and will they be as cost effective? All good things must come to an end and that time ...
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A final flurry of orders
Despite the gathering gloom, 1998 turned out to be another bonanza year for jet airliner sales. As the year-end totals rolled in, it became clear that Airbus and Boeing had managed to net the second largest bag of orders on record. That may raise few cheers from an airline industry ...
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Are there dangers in duopoly?
As Airbus again draws closer to Boeing, are there risks from an airliner duopoly? Whatever else the Airbus and Boeing year-end figures may have revealed, there is one fact that remains inescapable. The market for large civil aircraft is now a straight fight between two fairly evenly matched manufacturers. Conventional ...
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ROUTES
Chicago service - All Nippon Airways is to launch Tokyo-Chicago services on 13 April. The daily non-stop service will be run with Boeing 747-400s, seating 319. It will be the sixth US destination for ANA, after New York, Los Angeles, San Francisco, Washington DC and Honolulu. Round the world ...
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COPA completes deal for 12 new Boeing 737-700s
COPA has finalised a deal to acquire 12 new Boeing 737-700s through order and operating leases. The carrier will re-equip its fleet completely and expand services to Central and South America. The privately owned Panamanian carrier has ordered eight 737s from Boeing and will lease a further four aircraft, ...
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Croatia Airlines nears alliance
Andrew Doyle/ZAGREB Croatia Airlines is finalising a strategic tie-up with a major European flag carrier as the next stage in its plans to establish Zagreb as a regional hub for destinations in the former Yugoslavia. The move comes hard on the heels of the acquisition by the Croatian ...
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JAL realigns to face aggressive market
Andrzej Jeziorski/SINGAPORE Japan Airlines (JAL) is expanding its international services and delegating more regional routes to its low cost subsidiaries as it braces itself against increased competition at home and abroad. The carrier says the major catalysts for intensified competition are the emergence of new domestic Japanese carriers ...
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Marketplace
-CIT Group has delivered two Stage 3 hushkitted Boeing 727-200s to Champion Air on seven-year operating leases. -Cabot Aviation has arranged the sale of a 16-year-old, ex-TAP Air Portugal Lockheed L-1011 TriStar 500 to Canadian charter airline Air Transat. The aircraft has been delivered, following a C check, and will ...
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Philippine Airlines struggles to avoid repossession of fleet
Philippine Airlines' (PAL) newly contracted management consultancy, Regent Star Services, is calling for urgent action to avoid the repossession of the airline's fleet by frustrated creditors. Chief advisor Peter Foster says in a memo to PAL staff: "By the end of January, we must have cash to make a ...
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Sirocco re-evaluates strategy
Andrew Doyle/MUNICH Sirocco Aerospace and Lufthansa Technik have frozen plans to establish a worldwide support network for the Tupolev Tu-204-120, in the face of the Russian economic crisis. Meanwhile, the German company's sister business, Lufthansa Cargo, confirms that it has decided not to acquire the freighter version of ...
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Rule change
Paul Lewis/WASHINGTON DC The aero engine service business has undergone a fundamental overhaul since 1995, when manufacturers began to recognise the untapped potential of the aftersales market to boost revenue. Airlines, struggling to cut costs, have been moving meanwhile to spin off their engineering divisions or to exit the ...
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Big Skywest order
SkyWest Airlines has ordered 25 Bombardier CRJ 200LRs as a partial replacement for its turboprop fleet and to enable the Utah-based carrier to expand its regional services, including United Express codeshares, to the US West Coast and mountain areas. "Our plan is to use the first five aircraft to replace ...
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Airbus forecasts lower sales for 1999 as demand dwindles
Julian Moxon/PARIS Airbus Industrie expects to achieve "significantly lower" sales during 1999, following its record breaking year of orders and deliveries, but insists it will continue the near-50% market share achieved in 1998 in all areas where it competes with Boeing. Commercial vice-president John Leahy declines to predict the ...
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CIT Group gears up to place large Airbus/Boeing orders
Paul Lewis/WASHINGTON DC The CIT Group is set to announce an order for up to 50 Airbus and Boeing narrowbody and widebody aircraft, representing the US financing and leasing company's first major purchase of new passenger jets. CIT's planned order is understood to include 25 Airbus A320s and ...
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PAL talks to resume as President steps in
Andrzej Jeziorski/SINGAPORE Philippine Airlines' (PAL) creditors have agreed to resume talks to rework the airline's rehabilitation plan, after overwhelmingly rejecting it in their initial analysis, according to the Philippine Securities and Exchange Commission (SEC). The announcement follows Philippine President Joseph Estrada signing an executive order making the SEC ...
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Swisscargo drops spin-off proposal
Swissair's cargo division, Swisscargo, has ditched proposals to spin off its own freight airline and will instead expand its existing strategy of wet-lease and block space agreements. The tentative plan to set up the cargo airline was studied in 1997, when an initial three of five Boeing 747-300 passenger ...