China to compete in big airline league

November 10, 2014 by  
Filed under Aviation, News

BEIJING, 10 November 2014: China is seeking suppliers to develop its own wide-body passenger plane over the next decade, industry executives told AFP, expanding its ambitions and rivalry with Boeing and Airbus.

The proposed aircraft — tentatively called the C929 — would be state-backed Commercial Aircraft Corporation of China (COMAC)’s largest, according to suppliers that have held discussions with the firm.

It would be a substantial advance on the smaller 158 to 168-seat C919 it is currently developing and the 78 to 90- seat ARJ21 regional jet, which is undergoing test flights.

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Jet Airways progresses to profit

November 10, 2014 by  
Filed under Aviation, News

NEW DELHI, 10 November 2014: Struggling Jet Airways, one of India’s biggest airlines, reported Friday a quarterly profit for the first time in two years, boosted by a one-off gain from the sale of a frequent-flyer scheme.

The Indian carrier, in which expanding Gulf airline Etihad Airways has bought a 24% stake, remained in the red when the sale proceeds were stripped out, but still improved its operating performance markedly.

Jet announced a 698-million-rupee (USD11.3 million) net profit for the second-financial quarter to September in contrast with a 8.9-billion-rupee net loss in the same year-ago period.

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Kingfisher shares suspended

November 10, 2014 by  
Filed under Aviation, News

NEW DELHI, 10 November 2014: Shares of India’s grounded Kingfisher Airlines face suspension, stock exchanges have announced, hammering another nail in the coffin of the carrier founded by self-crowned “King of Good Times” tycoon Vijay Mallya.

The heavily indebted airline, once India’s second-largest by passenger share, has never turned a profit since its launch in 2005.

The company has defaulted on payments to banks, airports and leasing firms and employees, and owners of its planes have taken many of them back.

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Tiger drags down SQ profit

November 7, 2014 by  
Filed under Aviation, News, Singapore

SINGAPORE, 7 November 2014: Singapore Airlines said Thursday its half-year net profit plunged 55.5%, weighed by heavy losses in budget carrier affiliate Tiger Airways, and warned of a challenging outlook despite falling fuel prices.

The flag-carrier, considered a bellwether for the industry, in a statement said net profit for the six months to September 30 fell to SGD125.7 million (USD100.54 million) from SGD282.4 million a year ago.

Net profit in the second financial quarter to September tumbled 43.4% to SGD90.9 million in the same period the year before.

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Shareholders back MH buyout

November 7, 2014 by  
Filed under Aviation, Malaysia, News

KUALA LUMPUR, 7 November 2014: Minority shareholders of Malaysia Airlines voted Thursday in favour of a USD420 million bid by its majority owner, state fund Khazanah Nasional, to privatise the loss-making carrier which suffered two air tragedies this year.

The approval moves Khazanah Nasional, the state investment holding arm of the Malaysian government, which owns a 70% stake in the carrier, closer to implementing its restructuring plans to return the company to profitability.

“Our shareholders’ approval represents a first, but major hurdle crossed, and there is much more to be done,” group CEO Ahmad Jauhari Yahya said.

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Phu Quoc Airport up for sale?

November 6, 2014 by  
Filed under Aviation, News, Vietnam

PHU QUOC, 6 November 2014: Phu Quoc Airport will be sold to private enterprise to raise working capital for the Airports Corporation of Vietnam (ACV) to develop other airport projects.

Local media reported that Phu Quoc Airport located on this popular tourist island off the coast of the Mekong Delta province of Kien Giang, will be sold by the Ministry of Transport. If the move is successful it could become a model for other airports to eventually transfer to private management to raise funds for the government to build new airports.

The ministry will consider transferring several airports to other investors, it said.

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Asia tycoon taps airline lease business

November 6, 2014 by  
Filed under Aviation, News

HONG KONG, 6 November 2014: A property flagship led by Asia’s richest tycoon Li Ka-shing said on Wednesday it plans to buy up to 60 passenger jets in a series of transactions that amount to more than USD2.5 billion.

The Hong Kong businessman made his first major foray into the aviation industry in August by announcing plans to buy into Irish aircraft leasing group AWAS, and the new purchases expand his investments into a field that can yield stable and long-term cash flow, analysts have said.

A filing written by Cheung Kong Holdings for the southern Chinese city’s Stock Exchange late Tuesday said that the plan was to buy the Boeing and Airbus aircraft from GE Capital Aviation Services Ltd, BOC Aviation Pte, Jackson Square Aviation, LLC, and MC Aviation Partners Inc.

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Moves to gain access to MH17 site

November 6, 2014 by  
Filed under Aviation, Malaysia, News

PUTRAJAYA, 6 November 2014: The leaders of Malaysia and the Netherlands vowed Wednesday to keep pressing for access to the crash site of Malaysia Airlines flight MH17 and bring to justice those responsible for downing the plane in Ukraine.

Prime Minister Najib Razak met with his visiting counterpart Mark Rutte in Malaysia to discuss the Dutch-led investigation into the July 17 disaster, which killed 193 Netherlands citizens.

Malaysia says 44 of its nationals also were among the 298 people aboard the Amsterdam-to-Kuala Lumpur flight when it was brought down over strife-torn eastern Ukraine.

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Service poor at Vietnam airports

November 5, 2014 by  
Filed under Aviation, News, Vietnam

HANOI, 5 November 2014: Service at Vietnam’s main airports in Hanoi and Ho Chi Minh City is not up to scratch according to Deputy Minister of Transport Phan Quy Tieu.

Talking to local media he said staff attitude to passengers was among the key reasons for the poor service quality at the Noi Bai and Tan Son Nhat international airports.

He said the airline companies should admit that the quality of services at Vietnam’s two largest airports is very poor compared with competitive destinations.

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VietJet to connect HCMC-Thanh Hoa

November 5, 2014 by  
Filed under Aviation, News

HO CHI MINH CITY, 5 November 2014: VietJetAir will launch a daily service linking Ho Chi Minh City and Thanh Hoa starting 25 November.

The new route will help the airline to tap growing demand for travel between the northern central city and its southern hub.

Flight time is one hour and 55 minutes.

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