Overview
As the 10th China International Aviation & Aerospace Exhibition is about to open its doors in Zhuhai on Tuesday, many in the industry are wondering what orders to expect this time around, particularly from the Chinese carriers.
Hong Kong-based lessor China Aircraft Leasing Co. has signed a memorandum of understanding covering 74 A320neos, 16 A320ceos and 10 A321ceos in a deal valued at $10.2 billion at current list prices. Shares of China Aircraft Leasing, partly owned by a subsidiary of state-backed financial conglomerate China Everbright, were listed on the Hong Kong stock exchange in July. Read More »
Airline News
Search for strategic investor in Vietnam Airlines nears end
Vietnam Airlines (VNA) chairman Pham Viet Thanh said the government-owned airline has received applications from two strategic foreign investors to acquire 282 million shares, equivalent to 20% of its charter capital. Read More »
Airline News
PAL to slow fleet and network expansion
Less than two months after regaining control of Philippine Airlines (PAL), chairman Lucio Tan and president Jaime Bautista have silenced most critics that doubted their ability to take over the airline once again. Read More »
People
BOC Aviation has announced the appointment of David Walton as new Chief Operating Officer (COO) to be based in the Singapore headquarters. Read More »
People
Fiji Airways is looking for candidates to replace managing director and chief executive officer (CEO) Stefan Pichler, who has been asked by the German government to return to his home country to help turnaround money-bleeding Air Berlin. Read More »
Financial Round Up
Asiana Airlines profit down 84%
Asiana Airlines Inc., South Korea's second-largest carrier, said its net profit nosedived 83.7% to 13.5 billion won ($12.4 million) in the third quarter, mainly due to currency exchange losses. Read More »
Short Takes
Airports: Singapore’s Changi International Airport reported a drop of 0.5% in passenger numbers for September as traffic continues to decrease year-over-year. The airport saw 4.25 million passengers and just over 27,020 aircraft movements—down from 4.65 million passengers and 28,360 movements in August 2014; the latter also registering a significant 5% decline compared to the same month last year. Read More »
