Short Takes
March 4th 2016
LESSORS: Air Lease Corporation (ALC) has reported a record net profit of $508 million for 2015, a 15.8% improvement over the previous year, as revenues increased 16.4% year-on-year to $1.2 billion. Read More » In 2015, ALC signed agreements for 120 aircraft with 46 customers from 35 countries. BOC Aviation has posted a 2015 net profit of $343 million, also a record, and an 11% increase over 2014. BOC’s owned and managed fleet grew to 270 aircraft, with a further 241 aircraft on order. China Development Bank (CDB) Financial Leasing has filed its application for a proposed initial public offering (IPO) on the Hong Kong stock exchange. Reports suggest the lessor aims to raise $1 billion through the IPO.
ROUTES: Air China will increase frequency on the Beijing-San Francisco B747-8/B777-300ER route from daily to eleven-weekly starting August 2, and it will launch a Beijing-San Jose A330-200 service from June 16. Bangkok Airways will launch a ten-weekly Chiang Mai-Mae Hong Son ATR72 operation beginning April 2. Emirates Airline will replace the A340-300 with the B777-300ER on the Dubai-Kabul route from December 1. Ethiopian Airlines will resume four-weekly Addis Ababa-Hong Kong-Incheon B787 operations from July, restoring daily service into Hong Kong as a result. EVA Air will reduce frequency on the Taipei-Surabaya A321 route from four- to twice-weekly starting May 1. Hainan Airlines will launch a thrice-weekly Beijing-Calgary B787-8 service from June 30. Iran Air has doubled frequency on the Tehran-Cologne A310-300 route from weekly to twice-weekly. Jeju Air will boost frequency on the Incheon-Narita B737-800 service from twice- to thrice-daily starting May 1. China’s Juneyao Airlines will increase operations from Nanjing in March. As such, it will lunch daily services to Beihai, Dalian, Kunming, Nanning, Qingdao, Shenyang, Shenzhen and Xiamen, as well as a four-weekly service to Guiyang, all operated by the A320. Philippine Airlines (PAL) has said it is “considering” launching a Manila-Phnom Penh service. SriLankan Airlines will increase frequency on the Colombo-Riyadh A330-300 route from five-weekly to daily commencing May 6. Tigerair will increase frequency on the Singapore-Nanning and Singapore-Haikou A320 routes from thrice- to four-weekly from June 9 and July 3, respectively.
