Cebu Pacific is likely to increase its cargo business with new aircraft being added to its fleet following an order for 14 French-made ATR72-500 passenger planes. Lance Gokongwei, president of Cebu Pacific Airways said the acquisition of more aircraft would be partly finance by a planned initial public offering (IPO) of the airline at the Philippine Stock Exchange this year. The airline is aiming to expand its current fleet to 46 aircraft to meet rising cargo business and passenger … [Read more...] about PHILIPPINES: Cebu eyes more cargo business

Thai Airways International plans to buy at least 46 new aircraft in a 10 year plan to modernise its ageing fleet, Reuters reported, citing airline president Apinan Sumanaseni. The board of Thailand’s flagship carrier would confirm the details in August, but Apinan said the plan was separate from its purchase of eight Airbus A330- 300 and six A380 superjumbo planes. “Initially, we need 46 new aircraft to replace aircraft more than 20 years old. We also plan to buy more to … [Read more...] about THAILAND: Thai Airways to modernise fleet

Investment and holding company PT Bhakti Investama has come to the rescue of fledgling carrier Adam Air, which is facing government scrutiny following a series of aircraft accidents, by acquiring 50 percent of the carrier’s shares. The acquisition was done through its subsidiary PT Global Transport Services. Both Adam Air and Bhakti declined to reveal the value of the acquisition. However, Adam Air’s president director Adam Aditya Suherman said the value ‘equals the price … [Read more...] about INDONESIA: Bhakti Investama acquires AdamAir

A steady rebound in shares of Malaysia’s Transmile Group Bhd was interrupted by a research report that questioned the number of planes it has, a claim the air transport firm said was inaccurate, the Business Times reported. The stock, which last month fell to its lowest in two years on news of accounting irregularities recently, was down by as much as 13 percent at the end of May. Dealers said the fall was sparked by a report from Macquarie Research, which said the actual number … [Read more...] about MALAYSIA: Transmile shares stumble on report

Chinese carriers are feeling the pressure following last month’s signing of a new air services agreement between China and the US. “We don’t want Beijing to open the air transport market too fast. The pact covering an increase of air services signed in 2004 has already exerted great pressure on us,” China Eastern Airlines President Li Fenghua told China Business News in the weeks before the pact was concluded. He also noted that “it takes time to integrate … [Read more...] about CHINA: New pact pressures Chinese carriers