DAE Capital, the aircraft leasing and financial business arm of Dubai Aerospace Enterprise (DAE), yesterday signed an operating lease agreement with Garuda Indonesia covering eight Boeing 737-800s. The signing ceremony, attended by Indonesian president Susilo Bambang Yudhoyono, took place at the Ritz Carlton Hotel in Jakarta during the World Islamic Economic Forum (WIEF).
Association of Asia Pacific Airlines
“Last year was a great year for business aviation in Asia, especially the Greater China Region. I believe it was a record year of growth. We had more aircraft deliveries, more new operators started and more investment into business aviation infrastructure,” said Jason Liao, sales director for China at Bombardier Business Aircraft.
A firm order announced on February 27 for six A330-200s from Korean Air helped ease the sting of an exceedingly sluggish sales year so far for Airbus, but it didn’t erase the considerable pressure felt by both of the Western world’s major OEMs to deliver on promises to maintain production rates, as analysts and suppliers closely monitor how each react to a growing list of delivery deferrals. In fact, until the latest Korean Air order, both c
Boeing had to announce a downward adjustment of its fourth-quarter and full-year earnings results yesterday to reflect a reduction in the value of aircraft in its customer financing portfolio and a rise in liabilities tied to an arbitration award. The change resulted in a four-cent-per-share lower result than it reported on January 28 in its Form 10-K filing with the U.S. Securities and Exchange Commission.
Airbus logged the sale of the 200th A380 with a firm order from Korean Air Lines for another two of the double-decker transports, the manufacturer announced today. This latest deal brings the total number of A380s ordered by Korean Air to 10. The carrier plans to operate the aircraft in a three-class layout on routes linking Seoul to destinations in North America and Europe, including Los Angeles, New York and Paris.
John Winant, 85, former president of the National Business Aviation Association, died on January 13 at his home in Williamstown, Mass.
It took all the resources it could reasonably muster, but Airbus managed to reach its target of delivering 12 A380 aircraft last year when on December 30 it handed over to Emirates Airline that carrier’s fourth superjumbo.
Japan’s All Nippon Airways has decided to delay its decision on whether to order Boeing 747-8s or Airbus A380s due to the global recession, the company confirmed today. “ANA has decided to postpone the selection of its future large aircraft type, given the unforeseen changes to its operating environment since the financial crisis of September this year,” it said in a written statement.
The International Air Transport Association (IATA) predicts “the worst revenue environment in 50 years” in the airline business next year, according to a global market forecast the group released yesterday. In all, IATA sees a loss of $2.5 billion, led by a doubling in losses among Asia-Pacific carriers to $1.1 billion. Europe will rival Asia-Pacific’s bruising with a tenfold rise in losses, to $1 billion, according to the IATA report.
Fast-growing executive charter group VistaJet yesterday spelled out details of its new Flight Solutions portfolio. The Swiss-based group says that by operating closer to an airline business model it can radically change the economics of private aviation to make it a more viable option to a wider customer base.