Singapore Airlines (SIA) has completed sale-and-leaseback transactions for 11 aircraft, comprising seven Airbus A350-900s and four Boeing 787-10s, raising approximately S$2.0 billion in total.
The transactions were arranged by four different parties, as follows:
Lease Arranger
Aircraft
Aergo Capital Limited
1 Airbus A350-900 1 Boeing 787-10
Altavair
4 Airbus A350-900s
EastMerchant / Crianza Aviation
1 Airbus A350-900 2 Boeing 787-10s
Muzinich and Co. Limited
1 Airbus A350-900 1 Boeing 787-10
Total
11
SIA has successfully raised approximately S$15.4 billion in fresh liquidity since 1 April 2020, including these sale-and-leaseback transactions. The amount also includes S$8.8 billion from SIA’s successful rights issue, S$2.1 billion from secured financing, S$2.0 billion via the issuance of convertible bonds and notes, as well as more than S$500 million through new committed lines of credit and a short-term unsecured loan.
SIA continues to have access to more than S$2.1 billion in committed credit lines, along with the option to raise up to S$6.2 billion in additional mandatory convertible bonds before the Annual General Meeting in July 2021.
During this period of high uncertainty, as the airline industry continues to navigate the unprecedented challenges caused by the Covid-19 pandemic, the SIA Group will continue to explore additional means to raise liquidity as necessary.
Mr Goh Choon Phong, Singapore Airlines Chief Executive Officer, said: “The additional liquidity from these sale-and-leaseback transactions reinforces our ability to navigate the impact of the Covid-19 pandemic from a position of strength. We will continue to respond nimbly to the evolving marketing conditions, and be ready to capture all possible growth opportunities as we recover from this crisis.”
In his letter, Haji-Ioannou has also called for removal of easyJet’s Chief Finaicial Officer Andrew Findlay, after earlier calling for a board meeting on a vote to remove Andreas Bierwirth as a director, which was rejected by easyJet.
“If this 4.5 billion pound liability to Airbus is preserved – and not cancelled – by the easyJet board then, I regret to report, easyJet will run out of money around August 2020, perhaps even earlier,” the founder said in his letter.
“I will certainly not be throwing good money after bad. For the avoidance of doubt, I will not inject any fresh equity in easyJet whilst the Airbus liability is in place.”
He also stated that he will continue to call for the removal of more directors every time the company delays the vote.
He also wants easyJet to reduce its fleet size to 250 aircraft from 350, adding that the airline will not need any more additional new planes for many years to come.
(Reporting by Juby Babu in Bengaluru; editing by Diane Craft)
HONOLULU, Nov. 27, 2019 /PRNewswire/ — Hawaiian Airlines welcomed guests aboard its inaugural flights between Fukuoka Airport (FUK) and Honolulu’sDaniel K. Inouye International Airport (HNL) with festive gate-side celebrations in both cities as the carrier marked the start of its four-times-weekly nonstop service with Airbus A330 aircraft.
Pictured L to R at FUK: Principal Officer John C Taylor, US Consulate Fukuoka; Mr. Satoshi ISHIMOTO, Head of Fukuoka Airport Branch, OSA JCAB, MLIT; Ms. Akie Oomagar, Vice Governor of Fukuoka Prefecture; Mr. Hiroaki Mitsuyama, Vice Mayor of Fukuoka City; Mr. Tetsuya Nagasao, CEO of FIAC; Ms. Mitsue VARLEY, Japan Country Director, Hawaii Tourism Japan; Jeff Helfrick, Vice President of Airport Operations, Hawaiian Airlines; Kahu La‘akea Arista.
Hawai’i’s flagship carrier delighted guests with performances by the Hawaiian Airlines Serenaders music and hula troupe, as well as fresh lei and special keepsakes including a canvas tote and luggage tag commemorating the airline’s inaugural flight.
Hawaiian Airlines President and CEO Peter Ingram addressed guests in Honoluluto mark the return of service to its sister city. Ross Higashi, deputy director of the State of Hawai’i Department of Transportation – Airports and Koichi Ito, Consul General of Japan also offered congratulatory remarks before the inaugural flight, HA827, departed HNL on Nov. 26 at 11:20 a.m., arriving into FUK at 5:21 p.m.the following day.
In Fukuoka, Theo Panagiotoulias, Hawaiian’s senior vice president of global sales and alliances, and John C. Taylor, principal officer of the U.S. consulate in Fukuoka joined guests in celebrating HA828, which departed FUK at 7:55 p.m. on Nov. 27. The flight’s 8:45 a.m. scheduled arrival at HNL on the same day gives travelers the afternoon to explore O’ahu or connect to one of Hawaiian’s seven neighbor island destinations.
“Fukuoka and Honolulu share a special relationship, so we’re thrilled to bring local residents of Kyushu and Hawai’i one step closer to their vacation with our convenient nonstop service,” said Panagiotoulias. “We’re pleased to now offer 35 weekly flights between Hawai’i and five gateways in Japan with the launch of our new Fukuoka service.”
Guests traveling between Fukuoka and Honolulu will enjoy the roominess and comfort of Hawaiian’s Airbus A330 aircraft, which features 18 fully flat Premium Cabin leather seats arranged in a 2-2-2 configuration tailored for couples, families and honeymooners while offering great functionality to business travelers. Hawaiian also offers 68 of its popular Extra Comfort seats with more legroom and enhanced amenities, in addition to 192 Main Cabin seats. All guests will enjoy Hawaiian’s award-winning hospitality, including island-inspired meals prepared by Hawai’i’s top chefs, as well as new in-flight amenities by Kealopiko, designers of contemporary island apparel.
Hawai’i has strong historical ties to Fukuoka dating back to 1885 when the first 149 immigrants arrived on the ship Yamashiromaru to work in Hawai’i following King David Kalakaua’s signing of a treaty of reciprocity with Japan.
A century later, in 1981, the State of Hawai’i passed a resolution establishing a Sister-State relationship with Fukuoka Prefecture, the first one in Hawai’i’s history. Then- Hawai’i Gov. George Ariyoshi, whose father Ryozo Ariyoshi came to Honolulu from Fukuoka, led the Sister-State initiative.
Fukuoka becomes Hawaiian’s fourth gateway city in Japan, which complements its existing network of nonstop service connecting the Hawaiian Islands with Osaka, Sapporo, and Tokyo’s Haneda and Narita airports. The carrier now operates 35 weekly nonstop flights between Japan and Hawai’i and will begin additional daily service between HNL and Tokyo Haneda on March 28.
Boeing 787 Dreamliner performs air display during the second day of Dubai Air Show in Dubai
DUBAI (Reuters) – After insisting for 15 years that the superjumbo is the future, Emirates airline has been forced by the demise of the A380 to embrace smaller wide-body jets, resulting in a flurry of maneuvers between planemakers at this week’s Dubai Airshow.
The 555-seat A380 is near the end of production, setting off a series of interlocking deals as top buyer Emirates reviews its fleet against the backdrop of fragmenting travel demand. Delays in the 406-seat Boeing 777X also weighed in the shake-up.
“We have to face the reality of the cancellation of the (A380) program and the effect it has on our network, which is why we conducted a root and branch (review),” Emirates President Tim Clark told reporters at the airshow.
The double-decker A380 superjumbo and the big twin-engined Boeing 777, plus mid-sized 787s and A350s, were all spread out in front of VIP chalets – the queens, bishops and knights in a game of industry chess being played out across the globe.
Big jets tend to be profitable especially when full.
Periodically, the industry designs smaller planes that match both the range and efficiency of larger ones, allowing smaller pieces on the industry chess board to topple larger ones.
While reducing its remaining orders for A380s, Emirates placed an expanded order at the show for 50 Airbus A350s but shelved earlier plans to order the 330-seat A330neo, an upgrade of an earlier model.
It substituted part of an order for delayed 777X jets for 30 Boeing 787-9 Dreamliners – 10 fewer than originally planned in a tentative 2017 order – as part of a $25 billion order shake-up.
For passengers, the roughly 300-seat, lightweight mid-sized jets offer more choice and frequencies.
Many airlines say they can fly almost as profitably as the larger models but with less risk to the bottom line.
The downside? Planes fill more quickly and passengers can flee to other carriers. Airport congestion is also a concern.
Emirates insists the superhub model it pioneered – which takes advantage of Dubai’s location to capture global traffic using large aircraft – remains intact despite the new twist.
But the smaller planes allow some of its rivals to fly profitably with fewer commercial risks and this week’s deals imply Emirates no longer feels immune from such pressure.
“Given the changed environment, Emirates has been forced to adapt the tactics of some of the carriers they have been competing with,” said analyst Richard Aboulafia of Teal Group.
STALEMATE
The shift sparked frantic talks by planemakers to ensure their models were included in the new mix of Emirates’ mid-sized jets. Each suffered losses but the result was broadly a stalemate, analysts said.
Airbus suffered a setback with the loss of the A330neo at Emirates and may have to cut output, they said.
But it ensured its own A350 picked up the slack and won a ticket to any future contests to replace A380s still in service.
Boeing <BA.N> cemented a key win for the 787 after two years of uncertainty over the earlier provisional deal. But recent 777X delays opened the door to Emirates readjusting the blend in favor of the Airbus A350, at the expense of the 787.
Emirates’ decision to expand its A350 order coincided with cancellations for the same jet at Abu Dhabi’s struggling Etihad, prompting speculation of a politically balanced adjustment.
Airline officials strongly denied any link and Clark said planners had identified more room for future growth in revenues with the A350 than the A330neo, which would nonetheless remain “in the mix” for the future alongside more 777X purchases.
Analysts said the net result of reducing A380 and 777X orders and switching to smaller models was about 18,000 fewer seats on order than previously planned before the show,
which some analysts described as a response to overcapacity.
“Manufacturers have sold too many airplanes,” Adam Pilarski, senior vice-president at consultancy AVITAS, said.
While the spotlight fell on the Emirates wide-body order rejig, the Dubai show highlighted Boeing’s efforts to shore up confidence in its grounded 737 MAX with fresh sales and changes sweeping the narrow-body markets. Beefed-up single-aisle jets increasingly cover distances reserved for wide-bodies.
Sharjah’s Air Arabia <AIRA.DU> ordered 120 Airbus including 20 of the long-range 200-240-seat A321XLR. Sources say it may leapfrog northern Africa to fly non-stop as far as Casablanca, a mission currently served from neighboring Dubai by an Emirates A380.
“The single aisles are the pawns of the industry but very effective ones,” Rob Morris, head consultant at UK-based Ascend by Cirium, said.
(By Tim Hepher and Alexander Cornwell; Additional reporting by Ankit Ajmera; Editing by Susan Fenton)
Emiratis walk past an airbus A350 displayed at the Dubai Airshow on November 8, 2015. Dubai Airshow took off today to a slow start amid little expectations of major orders to match the multi-billion-dollar sales generated at the last edition of the biennial fair. AFP PHOTO/MARWAN NAAMANI (Photo by MARWAN NAAMANI / AFP)
SEATTLE, May 17, 2019 /PRNewswire/ — About 18,000 pounds of fresh Copper River salmon arrived on a fish-filled Alaska Airlines plane touching down at Seattle-Tacoma International Airport shortly after 6:30 a.m. Today officially marks the start of the salmon season that is anticipated by seafood lovers throughout the Pacific Northwest and beyond. By noon, Alaska Air Cargo is expected to deliver a total of 50,000 pounds of Copper River salmon to the Lower 48 with more scheduled on later flights.
Alaska Airlines pilots hold up the first Copper River Salmon upon arrival in Seattle
