Southeast Asia benefits from having one of the fastest growing economies in the world, driven by the expansion of the trade and tourism sectors.
At the XXII Olympic Winter Games, which open tomorrow and run through February 23, business aircraft passengers and crew visiting the Southern Russian city of Sochi will see the results of massive infrastructure investments–estimated at $50.7 billion–made since 2008.
For Brazil’s Embraer, a lot has changed in the 13 years since it first laid brick and mortar in Asia. The world’s major airframe makers now consider China, for example, the second biggest market for airliners in the world, and Embraer’s establishment, first, of an office in Beijing, and later, of a joint venture to build ERJ 145 regional jets in Harbin has proved prescient.
Year-end 2013 financial results from the newly reconstituted American Airlines Group have quickly established that the long-awaited merger of AMR Corporation with US Airways has resulted in a carrier more viable than the sum of its previously separate parts.
The January 9 decision by Moody’s Investor Service to downgrade the credit rating of Qantas Airways to Ba2 (from Baa3) has prompted fresh calls for the Australian government to provide emergency debt guarantees for the country’s flag carrier.
Signaling another round of consolidation in the Philippine domestic air transport market, Cebu Pacific and Singapore-based Tigerair have entered into a strategic alliance calling for the Filipino budget carrier to acquire Tigerair Philippines (TAP).
Facing the prospect of increasing competition from European carriers, El Al Israel Airlines plans to launch a new low-fare brand named Up next March. Up will start by offering one-way introductory fares of $69 for departures from Israel to Prague and Budapest; and $99 to Berlin, Kiev and Larnaca, Cyprus.
Despite Indonesia’s apparent ambivalence toward an open skies policy among the 10-member Association of Southeast Asian Nations (Asean), Garuda Indonesia continues to prepare for its home country’s full participation in the accord when it takes effect in January 2015. Most recently, on November 25, the Indonesian flag carrier introduced a new sub-brand called “Explore” ahead of a December 3 launch into service of its first ATR 72-600.
Last week’s decision by the U.S. Justice Department to drop its lawsuit to block the merger of AMR and US Airways Group didn’t come without conditions, but antitrust experts and analysts for the most part agree that it came as a resounding victory for the airlines. Largely left intact by the deal reached between Justice and the airlines, the merger would close in December, creating the largest carrier in the world.
More than three years after completion of its five-million-passenger-capacity terminal at Dubai World Central (DWC), passenger operations at DWC’s Al Maktoum International Airport finally launched October 27 with the arrival of Hungarian low-cost carrier Wizz Air, Bahrain’s Gulf Air and Kuwait’s Al Jazeera Airways.