Asia Pacific – Page 252
-
Airline BusinessHNA Group’s years of debt-fuelled acquisitions end in shambles
It may have started life as an aviation group, but by the time creditors showed up with bankruptcy filings, China’s HNA Group was a massive conglomerate with broad interests; from property to logistics; from aviation to financial services, the company had a finger in every pie.
-
In depthKiev blocks Chinese bid for engine manufacturer Motor Sich
Ukrainian president Volodymr Zelensky appears to have shut down China-backed firm Skyrizon’s long-running effort to acquire engine maker Motor Sich.
-
NewsPAL to cut workforce by one-third from mid-March
Philippine Airlines (PAL) will axe about 2,300 staff across its business, starting mid-March, a move that has been looming since October.
-
NewsLion reaches agreements with (some of) its lessors
Several lessors to Lion Group airlines have agreed to restructure their leases after months of bilateral negotiations, Cirium understands.
-
NewsQantas could launch Project Sunrise flights in 2024
Qantas could introduce ultra-long-haul flights under its delayed Project Sunrise programme as soon as 2024, according to the carrier’s chief executive, Alan Joyce.
-
NewsA380 can return and generate cash: Qantas chief
Qantas is likely to fly its Airbus A380s again, according to the Australian carrier’s chief executive Alan Joyce, particularly on routes where tight scheduling is a factor.
-
NewsMyanmar’s Yangon International airport closed after military coup
Myanmar has shut its primary gateway Yangon International airport, after the military seized power on 1 February.
-
NewsSlow vaccination campaigns bad news for airlines: AAPA chief
The lethargic rollout of coronavirus vaccines will delay any recovery for the airline sector, according to Association of Asia Pacific Airlines director general Subhas Menon.
-
NewsAero India goes ahead in defiance of Covid-19
The Aero India show in Bengaluru will be the first major international air show in nearly 12 months, but attendees will have ample reminders of the coronavirus pandemic.
-
AnalysisLessors take stock as HNA creditors seek its bankruptcy
News that HNA Group creditors will seek to put the conglomerate into bankruptcy and reorganise it did not come as a surprise to some lessors, who had been anticipating such an announcement around the Chinese New Year.
-
NewsVietjet profitable in 2020, banks on ancillary revenue and cargo
Vietjet Air reports a profitable year in 2020 despite the pandemic, banking on ancillary revenue and cargo.
-
NewsJAL cuts earnings forecast citing pandemic uncertainty
Japan Airlines (JAL) has sharply reduced its profit and revenue forecasts for the 2020 financial year, as it reports significant nine-month losses.
-
NewsManila, Jakarta beef up tactical transport fleets
The Philippine air force has taken delivery of the first of two Lockheed Martin C-130H tactical transports provided under the US government’s Excess Defence Articles programme.
-
NewsHainan Airlines warns full-year loss could hit staggering CNY65 billion
China’s Hainan Airlines has forecast a staggering full-year net loss of between CNY58 and 65 billion ($9-10 billion), with asset impairment costs expected to account for a significant portion of its red ink.
-
NewsSIA Engineering ekes out small profit in third quarter
SIA Engineering (SIAEC) swung briefly back into the black in its third-quarter earnings, warning that the “glacial pace” of global air travel recovery is punishing its profitability.
-
NewsChina’s ‘Big Three’ flag steep full-year losses from pandemic impact
China’s three largest carriers are expecting to swing firmly into the red for the year ended 31 December 2020.
-
NewsChinese domestic flights drop to levels last seen in May 2020
Domestic flights in China have entered a steep downward trend in the past few days, according to data released by Eurocontrol, as the country responds to a resurgence of Covid-19 cases in some regions.
-
NewsChinese aviation giant HNA Group receives bankruptcy filing
Hainan Airlines’ parent company, HNA Group, will undergo a business reorganisation after creditors filed for its bankruptcy.
-
NewsFA-50 set to receive Sniper Pod clearance
The Lockheed Martin Sniper Advanced Targeting Pod is set to be cleared for use aboard the Korea Aerospace Industries FA-50 light attack jet.
-
NewsANA taps into bellyhold cargo in Okinawa logistics hub revamp
The ANA Group will make use of bellyhold cargo of flights at Okinawa island’s Naha airport in its plans to revamp the island’s logistics hub into a new network model.