Asia/Pacific

ATW Daily News

Air Macau expects to be out of crisis via capital injection, aircraft leases

Thursday September 4, 2008

Air China subsidiary Air Macau plans to request a new capital injection from its stakeholders and lease three A320s/A321s to CA this month in order to alleviate its financial crisis, according to the Macau Daily News. The amount of the cash injection will be determined soon by a stakeholders' conference. CA holds a 51% stake in NX, whose other stakeholders include TAP Portugal's SEAP investment fund (15%), casino company Sociedade de Turismo e Diversoes de Macau (14%), the Macau government and EVA Air.

CA has noted that it would extend "special aid" to NX, including its support in an effort to secure routes across the Taiwan Strait when CAAC allows scheduled service next July. NX reported a first-half net loss in excess of MOP200 million ($24.4 million). Passenger traffic fell 6.4% year-over-year to 1.38 billion RPKs and boardings were down 11.9% to 1 million. Load factor dropped 5.3 points to 70.5% and cargo volume plummeted 34.9% to 53,000 tonnes.

Kingfisher launches service to Heathrow, eyes equity sale

Thursday September 4, 2008

Kingfisher Airlines, which launched international service yesterday with a Bangalore-London Heathrow A330-200 flight, said it plans to raise $400 million through an equity sale, possibly during the first quarter of next year. Chairman Vijay Mallya told reporters that the exact nature of the sale has not been determined. "Everything depends on the right value," he explained. "Earlier, we tried to raise $300 million, but due to adverse market conditions, we have deferred this. Now we are targeting $400 million to run the operations." He added that the airline could achieve profitability within two years and that he expected the LHR flights to be profitable. The carrier plans to start Bangalore-San Francisco flights in the fourth quarter.

Thursday September 4, 2008

Singapore Technologies Aerospace yesterday said it redelivered the 38th MD-11BCF to UPS Airlines following conversion at its SASCO facility. SASCO began conversions for UPS in April 2001.

Australian authorities discover 'emerging problems' in QF MRO

Wednesday September 3, 2008

Australia's Civil Aviation Safety Authority wants Qantas to implement a range of improvements to the way it manages and delivers aircraft maintenance following a special review carried out last month. [more]

Yuan appreciation boosts HNA's first-half earnings 63.9%

Wednesday September 3, 2008

Hainan Airlines reported a net profit of CNY311 million ($45.5 million) in the first half, up 63.9% over the CNY189.7 million earned in the year-ago semester, thanks largely to the appreciating yuan. [more]

Wednesday September 3, 2008

Virgin Blue will expand its Sydney training center and build a maintenance base in a move that is expected to create almost 1,000 jobs. It will add 737-800 and E-170 simulators to its recently opened V Australia training facility at Botany Bay, which already has a 777-300ER. Blue also announced that the first V Australia 777-300ER due for delivery in November will feature lie-flat beds and two bars.

Wednesday September 3, 2008

Air New Zealand will launch a new cabin product on its A320 and 767 fleets used on Pacific and Australian services on Sept. 9. Rather than back away from capital expenditure, ANZ has embraced further product upgrades designed to snare premium customers (ATWOnline, March 14). This year it is investing more than NZ$55 million ($38.3 million) installing IFE throughout the 767s and A320s used on short- and medium-haul routes and increasing seat pitch in economy ahead of the wing to 35 in. Passengers paying the higher economy fares and Gold Elite members will have access to those seats and can book them online. Rollout of all aircraft will be completed by November.

Wednesday September 3, 2008

Kunpeng Airlines took delivery of the first of five 98-seat E-190s ordered in July (ATWOnline, July 14).

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