Short Takes
July 1st 2014
AIRLINES: Air New Zealand has increased its holding in Virgin Australia Holdings to 24.55%, the maximum allowed under present Australian regulations without approval from the country’s Foreign Investment Review Board. Juneyao Airlines’s budget subsidiary, Jiuyuan Airlines, will be launched next month from its Guangzhou base. Spring Airlines Japan has postponed its inaugural flights for the third time, reportedly due to cockpit crew shortages. Read More »
BUSINESS: Tigerair Mandala, closed this month after bail out negotiations with AirAsia came to nothing and its three owners, including Tiger Airways Holdings, ceased funding the carrier’s operations.
LEASING: Air Lease Corporation has delivered the first of four A321-200s to Air China (Beijing). Chinese leasing company, ICBC Financial Leasing has been reported as a possible buyer of up to five B747-8 freighters with South Korea’s Asiana Airlines as the final destination of the airliners.
PEOPLE: In a controversial decision, the Hong Kong government has appointed former Hong Kong Trade Development Council executive, Fred Lam, to succeed Stanley Hui at the Airport Authority. Hui, who will leave mid-month, is retiring seven months early. Airport Authority executive director, Ng Chi-Kee, will be acting chief executive until Lam starts in October. Hui respected the Airport Authority former chairman, Marvin Cheung, who quit prematurely after a dispute with Hong Kong’s chief executive, C. Y. Leung after the CE appointed new board members without consulting Cheung as chairman.
Board directors of Thai Airways International (THAI) , refused to accept the resignation of the airline’s chairman, Air Chief Marshal, Prajin Juntong, when he tendered his resignation at the airline’s board meeting last month. THAI reported that its load factor for May, the month of the country’s coup, declined to an average of 59.8%, compared with 66.4% in May last year.
Passengers on THAI international routes declined to a loss-making 55.2%.
ROUTES: Cebu Airlines will launch four times weekly flights from Manila to Sydney and three times a week to Kuwait in September in all economy class A330-300s. Delta Airlines has launched daily non-stop flights between Hong Kong and Seattle using two class A330-200s. Philippine Airlines (PAL) will reduce its services to Kansai and Haneda this month, with both Manila-Kansai and Manila-Haneda flights cut to one a day from twice daily.
