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Airline Finance News - Asia / Pacific.

Jan 22, 2007

Assn. of Asia Pacific Airlines' 17 members reported a 6.2% year-over-year increase in November passenger numbers to 11.2 million. RPKs rose 3.3% to 44.72 billion against a 0.2% fall in capacity to 59.46 billion ASKs, lifting load factor 2.5 points to 75.2%. Cargo jumped 6.2% to 4.89 billion FTKs, capacity grew 5.7% to 7.1 billion ATKs and load factor was up 0.4% to 68.9%. Jan 9, 2007

Air India, Indian Airlines

Indian government said that Minister for Civil Aviation Praful Patel met with employee groups from Air India and Indian Airlines yesterday to "explain in detail the benefits that would accrue to the airlines post-merger and the collective wisdom behind the entire process." Patel said the merger between the two state-owned carriers would "involve no retrenchment, no cuts or losses in pay scale, perks or allowances" and that "service[sup.2] conditions would further improve. He said the new airline will operate a fleet of approximately 112 aircraft and by the end of the third year of operation will realize INR4.1 billion ($92.9 million) in revenue synergies--primarily driven by network integration--and INR4.1 billion in cost and capital synergies. The integration is expected to cost INR2 billion. Patel counted "easy entry into one of the three global alliances," increased gate and landing slots at infrastructure-constrained airports and the potential to launch affiliated ground handling and MRO companies among the benefits of the impending merger. Jan 18, 2007

Cathay Pacific Airways

Cathay Pacific Airways flew 6.33 billion RPKs in December, a 4.6% increase over the year-ago month. Capacity climbed 3.3% to 7.8 billion ASKs and load factor rose 1 point to 81.2%. Jan 15, 2007

China Southern Airlines

China Southern Airlines said it carried 49.21 million passengers last year, up 11.5% over 44.12 million carried in 2005. In addition, China's largest airline added 64 new aircraft in 2006, bringing its total fleet to 298 planes. Jan 17, 2007

Japan Airlines

Japan Airlines is mulling a plan to lay off 3,000 employees, 6% of its workforce, over the next three years to help cut losses, according press reports. The cuts are due to be unveiled in JAL's mid-year business plan due out next month. It posted a loss of [yen]47 billion ($394.8 million) for the fiscal year to March 2006 as fuel prices hit the bottom line and ANA grabbed market share. According to Mainichi Daily, JAL also is considering a restructuring of the group's related businesses with a possible of sale of some units. Jan 10, 2007

Jet Airways

Jet Airways Swings Back To Profit. Jet Airways, India's largest domestic carrier, on Friday announced a return to profit in its fiscal third quarter, helped by softer aviation fuel costs and its growing international operations. Jet, which has more than a third of the fast-growing but competitive domestic market, said net profit for the fiscal third quarter fell 34 percent to INR400.4 million rupees (USD$9.1 million) from INR610 million (USD$13.8 million) reported a year earlier. Its revenue rose 31 percent to INR19.36 billion (USD$438.4 million) from INR14.78 billion (USD$334.7 million). Jet had reported losses for the two previous quarters on high fuel costs. A fuel surcharge on tickets and income from sale and lease back of aircraft helped improve margins in the quarter. Jan 19, 2007

Jet Airways

Jet Airways raised USD$434 million in an initial public offering in 2005. It reported a USD$26 million loss for the six months ended September 30 after years of healthy profits. Jan 9, 2007

Qantas, Airline Partners Australia

Airline Partners Australia's A$11.1 billion ($8.64 million) equity buyout of Qantas continued to face criticism yesterday as rebel Sen. Barnaby Joyce, a National Party of Australia member from Queensland, added his influential voice to the call for greater competition on the Australia-US route. Joyce said in a statement that the APA consortium is of "indeterminate nationality" and therefore deserves no special treatment from the federal government "and should be exposed to competition on the US-Australian route just like any other airline." Farther south, opposition Labor Party politicians in Tasmania called for services to the mainly holiday island to be "protected." Currently, the Australia Consumer and Competition Commission and the Foreign Investment Review Board are examining the deal on a range of complex issues, including the cross-ownership of Sydney Airport by APA leader Macquarie Bank. FIRB may not approve the deal if they are deemed associates. Reports from both bodies are expected in late February. Deputy leader of the governing Liberal Party and Treasurer Peter Costello then will consider the case on national interest grounds, but that review may take some time. In 2001 Costello took six months to reject the bid by Anglo-Dutch oil giant Shell for Australia's Woodside Petroleum. Jan 11, 2007 01/22/2007

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Jan 8, 2007
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