Airline Finance News - Asia / Pacific.Dec 18, 2006 Deccan Aviation, SpiceJet Deccan Aviation reported a loss of INR INR In currencies, this is the abbreviation for the Indian Rupee. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 3.4 billion rupees (USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. $76 million) in the fifteen months ended June 2006, while SpiceJet posted a loss of INR414.2 million (USD$9.3 million) in 2005/06. Budget airlines need to turn around in 25 minutes to meet costs. But poor infrastructure at Indian airports means the turnaround time extends to at least 45 minutes. "The answer, use the extra time and underbelly space to carry goods," Kaul added. The reach also helps, a Spicejet spokesman said. "No-frills carriers fly to hitherto unserviced segments, the market is huge." Air Deccan, for instance, has the largest network in India covering 61 airports. The INR22 billion (USD$492 million) courier industry and the INR40 billion (USD$894 million) express segment are expected to grow 20-25 percent a year, according to a research report by Edelweiss Securities. Dec 15, 2006 Qantas, Allco Finance Group Allco Financial Group (ASX: AFG and others) is a financial services business based in Sydney, Australia. Major services provided by Allco are asset management, fund management and debt funding. Allco has over AUD$4.3billion in assets, and has financed over AUD$60billion. Former Cathay Pacific Airways CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. David Turnbull, executive director of APA (All Points Addressable) Refers to an array (bitmapped screen, matrix, etc.) in which all bits or cells can be individually manipulated. APA - Application Portability Architecture member Allco Finance Group, told Bloomberg News in Sydney that there is no reason for the government to change policy. The fundamental change will come if, as expected by most observers, the new owners start to break up the airline and move jobs offshore. APA said it supports core Qantas strategies, including maintenance of an extensive domestic and international network and the use of both the Qantas and Jetstar brands. But the latter also is a catalyst for significant industrial strife, as Qantas staff believe the company will move significantly more business to the low-cost Jetstar operation, a prospect that will gain even more momentum with the huge debt level accompanying APA's bid. The Qantas board late Wednesday accepted a revised proposal from APA to acquire 100% of the airline for A$5.60 cash per share. Dec 15, 2006 Spring Airlines China's Jinan government said it would fine Spring Airlines' local travel agent branch CNY CNY In currencies, this is the abbreviation for the China Renminbi. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 150,000 yuan (USD$19,160) as a punishment, though the company denies wrongdoing wrong·do·er n. One who does wrong, especially morally or ethically. wrong  do and will appeal, the newspaper said. The case underscores the difficulty facing Chinese low-cost airlines, which are trying to model themselves on carriers such as Ireland's Ryanair in bringing cheap no-frills travel to the world's most populous nation. China's airline industry is dominated by three main state-run carriers, which a clutch of low-cost airlines are trying to compete against. Dec 15, 2006 Qantas Following its rejection of the initial takeover bid early yesterday, the Qantas board last night unanimously accepted a revised and higher offer from Airline Partners Australia Airline Partners Australia (APA) is a consortium that made a AU$5.45 per share takeover offer for Australian airline Qantas in December 2006. The takeover offer received the endorsement of the Qantas board in the absence of a better offer, however the proposed takeover failed to , the consortium led by Australia's Macquarie Bank and Texas Pacific Group of the US. In a filing with the Australian Securities Exchange The Australian Securities Exchange (ASX) is the primary stock exchange in Australia. The ASX began as separate state-based exchanges established as early as 1861. Today trading is all-electronic and the exchange is a public company, listed on the exchange itself. , Qantas Chairman Margaret Jackson said APA's A$5.60-per-share cash offer "allows Qantas shareholders to realize significant value for their shares that has not been fully recognized in the public market." Dec 14, 2006 Singapore Airlines Singapore Airlines once again applied pressure on the Australian government for access to the Sydney-Los Angeles/San Francisco route after Virgin Blue announced it will not launch transpacific trans·pa·cif·ic adj. 1. Situated on or coming from the other side of the Pacific Ocean. 2. Spanning or crossing the Pacific Ocean. services until 2008 at the earliest. In a statement, SIA Sia (sī`ə) or Siaha (sī`əhə), in the Bible, family returned from the Exile. SIA - Serial Interface Adaptor said, "Consumers will now be waiting at least another two full years before there's any new competition on that route. That means fares will stay high, and the Australian tourism industry will lag behind its potential because the route will remain uncompetitive and protected." SIA CEO Chew Choon Seng Chew Choon Seng (Chinese: 周俊成; Pinyin: Zhōu Jùnchéng) is the CEO of Singapore Airlines (SIA). last weekend said in Istanbul that the airline remains interested in the route despite Australia's repeated rejection. Dec 14, 2006 All Nippon Airways All Nippon Airways issued a statement last week indicating that it is in the "final steps" of selling hotels and real estate worth approximately $952 million, according to Reuters. ANA owns 13 Japanese hotels that produced revenues of about $571 million in the fiscal year ended March 31. Dec 13, 2006 SpiceJet SpiceJet To Raise USD$80 Mln For Expansion. Indian budget airline SpiceJet said on Tuesday it would issue equity worth about USD$80 million on preferential basis to 5 investors. Dec 12, 2006 Z Editor: Aram Gesar, eMail: edit@AirGuideOnline.com For more global news, reviews, features and analysis, please go to: http://www.airguideonline.com/onlinenews.htm To Subscribe to our Newsletters: http://www.airguideonline.com/order_formsubs.htm#news To Advertise: advert@AirGuideOnline.com Dec 11, 2006 |
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