Asia-Pacific Aerospace Briefs Today
June 3rd 2024
Today's briefs report news from Archer Aviation, Japan Airlines, KakaoMobility, Malaysia Airports Holdings, SATS and Yokohama City. Read More »
South Korea-headquartered KakaoMobility has selected Archer Aviation to support commercialisation of the company's electric vertical take-off and landing (eVTOL) goals. The agreement includes a US$7 million initial payment to Archer Aviation, a second payment to the innovator next January, public demonstration flights and a “planned purchase” of up to 50 Archer aircraft.
Japan Airlines and Yokohama City will work together to produce Sustainable Aviation Fuel (SAF) from cooking oil waste. A cooking oil collection station at a local Aeon shopping centre will be maintained after a successful trial and waste cooking oil from food stores in the complex also will be collected to manufacture SAF.
Malaysia Airports Holdings (MAHB) has reported a net profit of 190 million ringgit (US$40 million) for the three months to March 31, more than triple its net profit of 58.2 million ringgit in the same months in 2023. Revenue rose 30.6%, to 1.4 billion ringgit, MAHB said in a regulatory filing. “The continued recovery in traffic, along with the reimagining of the airport retail experience and various other non-aeronautical business strategies, has sustained our profitability and positive cash flow for five consecutive quarters,” MAHB acting CEO, Mohamed bin Rastam Shahrom, said.
Singapore-listed airport services provider, SATS, has reported net profit of S$56.4 million (US$42 million) for the 12 months to March 31, returning to profitability from a net loss of S$26.5 million a year earlier. Revenue was higher by 192.9%, at S$5.1 billion, SATS said in a regulatory filing. SATS CEO, Kerry Mok, said the result was “driven by the aviation sector recovery, improvements in air cargo volumes and better operational performance across the business”.
