Overview
Some airlines in the Asia-Pacific are doing better than others. Some are profitable at times when others are not. Some are faring well on routes where others are bleeding money.
Cathay Pacific Airways (CX) is one of the carriers performing well. As reported by This Week in Asia-Pacific, CX’s first-half 2014 profit surged to HK$347 million (US$45 million), up markedly from HK$24 million in the same period last year. Read More »
Airline News
AirAsia X’s net losses deepen, not interested in Skymark
Kuala Lumpur-based AirAsia X has reported a net loss of MYR128.9 million (US$40.9 million) in second-quarter 2014, down 400% from the MYR32.3 million net loss reported in the year-ago period. Read More »
Airline News
ICAO sets up two independent task forces
ICAO has set up two independent task forces following the disappearance of Malaysia Airlines flight MH370 in March and the shooting down of MH17 on July 17. Read More »
Financial Round Up
AirAsia (Malaysia) reports 17% profit drop
AirAsia Group’s core short-haul unit, AirAsia (Malaysia), has reported a 17% drop in operating profits in second-quarter 2014 to MYR174 million (USD54 million). But foreign currency gains drove a much higher net profit, which came in at MYR367 million compared to MYR58 million in the same period last year. Read More »
Airline News
ANA updates second-half 2014 schedule to meet demand
Japan’s largest international carrier, All Nippon Airways (ANA), has announced it would readjust its second-half 2014 schedule to accommodate increased demand for intra-Asian passenger travel and capitalize on the expansion of Tokyo Bay’s Haneda Airport. Read More »
Financial Round Up
Xi’an Aircraft Intl Corp reports loss for first-half 2014
Xi’an Aircraft International Corporation, the manufacturer of the MA60 and MA600 aircraft, has reported a net loss of CNY148.1 million (US$24.1 million) for the first of the year, compared to a profit of CNY64 million in the same period last year. Read More »
Financial Round Up
Bangkok Airways’ IPO has been approved by Thailand’s Securities and Exchange Commission and is waiting for a listing date in the coming months, reports Reuters. The first attempt failed last year due to questions raised over the company’s method of accounting property. Read More »
Short Takes
Airlines: Air New Zealand and Singapore Airlines have received the regulatory approval needed to start an alliance that will boost the capacity between each airline's country by up to 30%. Cathay Pacific has recorded a total of 100,139 revenue passengers on August 3, a new daily record for the airline. Finnair has unveiled the cabin of its soon-to-be-delivered A350s and surprised with an “economy comfort” section. Read More »
People
Garnadt new Ameco Beijing Vice Chairman
Karl Ulrich Garnadt, member of the Executive Board of Deutsche Lufthansa AG and Chairman of Lufthansa Cargo AG, has succeeded Stefan Lauer as Vice-Chairman of Aircraft Maintenance and Engineering Corporation (Ameco) Beijing. Read More »
People
European lessor Nordic Aviation Capital (NAC) has appointed Bill Rossi as VP sales and acquisitions for the Asia-Pacific region. Read More »
