Overview
Across the Asia-Pacific the reporting season is still in full swing. China’s “Big Three” state-controlled carriers and Hainan Airlines posted solid first quarter profit gains this week, following even larger increases at Japanese carriers, All Nippon Airways and Japan Airlines. In New Zealand, the flag carrier’s balance sheet is in better shape than ever, but the airline predicted strong headwinds, not least because of increasing competition from Mainland Chinese airlines. In Thailand, Thai Airways International decided to keep its A350 order commitment, while India’s SpiceJet continued to mull a “significant” aircraft purchase.
Mainland “Big Three + 1” post improved first quarter profits Read More »
News
Search for MH370 to be called off in June
The Australian Transport Safety Bureau (ATSB) on Thursday confirmed that the underwater search for missing Malaysia Airlines aircraft MH370 will be terminated on June 30. Read More »
News
THAI has decided against changing its A350 order
Thai Airways International (THAI) has decided to adhere to the original contract terms with Airbus that could see the carrier take delivery of the first of twelve on-order A350-900s as early as this month, the Bangkok Post has reported, citing internal THAI sources. Read More »
News
Air New Zealand (Air NZ) this week said its consecutive profit growth of recent years is likely to end in 2017 as it faced increased competition and NZ$120 million ($85.6 million) in foreign exchange hedging losses. Read More »
News
Japan Airlines and All Nippon Airways forecast profits to continue to increase
Japan Airlines (JAL) has improved its full-year net profit by 17.1%, to an impressive 174 billion yen ($1.6 billion), although the results were tempered by the generous tax measures enjoyed by the carrier to assist the airline’s financial rehabilitation. Read More »
News
Hong Kong Airlines receives U.S. Foreign Air Carrier Permit; leases two A330s
HNA Group’s Hong Kong Airlines has been granted its Foreign Air Carrier Permit (FACP) and route exemption from the U.S. Department of Transportation (DOT). Read More »
News
SpiceJet terminates wet leases and holds back on new orders
Indian LCC, SpiceJet, which is the country’s fourth largest airline by passengers carried, has announced it will change the leasing terms of seven short-haul aircraft from wet to dry leases from June 15 to cut costs and improve its on-time performance, the carrier’s chairman, Ajay Singh, told The Hindu. Read More »
News
IndiGo posts $300 million profit for 2015
IndiGo Airlines parent, InterGlobe Aviation, has posted a 53% 2015 full-year net profit increase, to 19.9 billion rupees ($300 million), on the back of significant revenue growth at the budget carrier. Read More »
News
Turkish to receive 26 Boeing jets this year; Jazeera Airways reports profit increase
Turkish Airlines will take delivery of six B777-300ERs and 20 B737-800s this year, the largest number of Boeing aircraft the flag carrier has received in any one year. Read More »
News
Korean Air ends Incheon B747-400 operations and Asiana sells off assets
Korean Air will terminate scheduled B747-400 passenger flights from its Seoul Incheon hub from May 31, but will continue using the jumbo jet on regional flights from Seoul’s downtown Gimpo Airport to Beijing, Shanghai, Osaka and Jeju. Read More »
People
Korean Air pilots sue chairman Cho over derogatory Facebook post
Controversial Cho Yang-Ho, chairman of Korean Air, this week resigned as chief organiser of the 2018 Pyeongchang Winter Olympics, citing “critical financial issues” with Hanjin Shipping which, like Korean Air, is part of the tycoon’s Hanjin Group. Read More »
Short Takes
MANUFACTURERS: Airbus has gained A350-900 extended-range twin-engine operations (ETOPS) approval from the FAA for routes requiring diversion times exceeding 180 minutes. Read More »
