Orient Aviation Daily Digest March 31, 2021
By Jordan Chong
News
Korean Air reveals more details of planned merger with Asiana Airlines
Korean Air (KAL) president, Woo Keehong, confirmed industry views it would take two years to fully integrate Asiana Airlines into the company once the proposed 1.8 trillion won (US$1.6 billion) transaction closed. Read More »
News
Recovery of single-aisle flights to pre-pandemic levels two years away says Airbus
Airbus CEO, Guillaume Faury, said in a Eurocontrol interview overnight it would take another two years before single-aisle flights returned to pre-COVID-19 levels, but added it was difficult to forecast the extent of recovery in air travel. Read More »
News
Mainland flag carrier records US$2.2 billion full-year loss for 2020
Air China yesterday announced a net loss of 14.4 billion yuan (US$2.2 billion) for the 12 months to December 31, 2020, compared with a net profit of 6.4 billion yuan a year earlier. Read More »
News
Shanghai’s China Eastern Airlines declares 2020 “extraordinary year”
China Eastern Airlines (CEA) described 2020 as an "extraordinary year" earlier this week when it reported a net loss of 11.8 billion yuan (US$1.8 billion) for its latest fiscal year to December 31, 2020. Read More »
News
China’s biggest airline group believes global pandemic trend “highly uncertain”
China Southern Airlines (CSA) said the future was highly uncertain as it reported a net loss of 10.8 billion yuan (US$1.7 billion) for the 12 months to December 31, 2020, compared with a net profit of 2.6 billion yuan 12 months earlier. Read More »
News
Lessor CDB says its net 2020 profit of US$498.4 million “a solid job”
China Development Bank Financial Leasing Co (CDB) said the company did a "solid job" during the pandemic in 2020, reporting a 11.2% improvement in net profit, to 3.3 billion yuan (US$498.4 million) for the 12 months to December 31, from a net profit of 2.9 billion yuan in the same months in 2019. Read More »
