Strong financial performance by the world’s airlines in the second and third quarters caused the International Air Transport Association (IATA) to revise up its yearly profit forecast for carriers by 63 percent from two months ago, to $6.7 billion. The association said profits should improve to $8.4 billion next year.
Association of Asia Pacific Airlines
Airbus Corporate Jets launched its new Gala cabin concept for the ACJ330/340 widebodies today at MEBA 2012. The concept is applicable to A330s and A340s, which essentially have the identical cabins between doors two and three. In this cabin zone, Airbus proposes the installation of a VVIP fit encompassing a master bedroom, master office and conference area. Governments requiring head-of-state aircraft are seen as the main potential customers.
The significant investments in expanding the aircraft completions and maintenance capabilities of Amac Aerospace have surely been made with the Middle East very much in mind.
Boeing projects the world’s airlines should see reasonable liquidity and pricing for new-aircraft delivery financing next year as jet builders accelerate production to meet demand, the manufacturer announced in London on Tuesday while issuing its fifth annual finance market forecast.
The Asia Pacific Airlines Association (AAPA) has called for a shake-up of aviation security management in the region, arguing that the current approach–accounting for 25 percent of total airport costs–is inadequate.
More evidence of capacity constraint among U.S. airlines appeared in a recent quarterly earnings report from one of the fastest-growing carriers in the country. Virgin America, which has seen annual available seat mile (ASM) growth average 28 percent for the past three years, has reconsidered its fleet expansion strategy and said it would move to cut the number of airplanes it plans to add over the rest of the decade.
Tough economic times are resulting in innovations by carriers in the Asia Pacific region looking beyond traditional business models through strategic realignments and new product offerings. Recent ground-breaking deals include Virgin Australia selling a 10-percent stake to Singapore Airlines (SIA) and buying 60 percent of Tiger Airways; the new partnership between Emirates Airline and Qantas; and Etihad Airways purchasing a 10-percent stake in Virgin Australia.
Bahraini flag carrier Gulf Air last week signaled a major shift in its fleet plans, affecting orders with both Boeing and Airbus. The airline has already signed so-called amendment agreements with the manufacturers “to reduce long-term liability and meet future strategic needs.”
Gulf Air said negotiations with the airframers date back to last year, as high fuel prices, a general slump in air traffic and so-called regional developments forced the airline to suspend service to a number of destinations in a bid to preserve its ongoing viability.
Bombardier delivered the first of six CRJ1000 regional jets ordered by Asia-Pacific launch customer Garuda Indonesia during an October handover ceremony at the manufacturer’s plant in Mirabel, Quebec. The Indonesian flag carrier also plans to fly 12 more CRJ1000s through a third-party lease agreement and holds options on 18 more aircraft of the same type.
The FAA will implement new wake turbulence standards on at 1100Z on November 1 starting at Memphis International Airport. Other U.S. airports are expected to see the new standards applied during 2013-2014 under the joint FAA/Eurocontrol RECAT program (revising wake turbulence categories to gain capacity).