The Airport Authority Hong Kong has signed a five-year, US$600 million evolving credit facility with 21 local and international banks participating, to help finance the expansion to a three-runway airport. Jack So Chak-kwong, the authority’s chairman, said a third runway is vital for HKIA’s cargo business, which handled 4.38 million tonnes in 2014 – a 6.0 per cent rise over the previous year. For the first six months of 2015, cargo traffic at HKIA was mostly flat, rising just 0.6 per cent, … [Read more...] about HK signs loan US$600m loan deal for third runway
Carriers
PAL mulls move to Clark as NAIA congestion losses rise
Philippine Airlines, Inc. (PAL) said its losses reach around US$1,780 for every 30-minute delay in its flights due to the runway congestion at Manila's Ninoy Aquino International Airport (NAIA). Jaime J. Bautista, president and chief operating officer of PAL, made the comments in New Zealand during a ceremony marking the inaugural Philippine Airlines four-times weekly flight from Manila to Auckland on 8 December. “Many times we fly around Metro Manila for additional 20 to 30 minutes - we did … [Read more...] about PAL mulls move to Clark as NAIA congestion losses rise
Hawaiian looking to add East Coast routes
Hawaiian Airlines is looking to add flights to the East Coast after 2017, building on the single route it currently has to New York JFK. Creating new routes to major Eastern cities will “become more central in our consideration in the next 18 months,” CEO Mark Dunkerley said. “New York’s been a success for us,” he told Bloomberg news, saying “we have the ambition to start more services to the U.S. East Coast.” Hawaiian sees growth opportunity in big Eastern cities including Philadelphia, … [Read more...] about Hawaiian looking to add East Coast routes
2015 weakness from low vols not adverse yield dev’ts: WorldACD
For the second month in a row, the worldwide average USD-yield improved month-over-month (MoM), this time by 1.0 per cent, down however, from last year’s MoM figure of +1.7 per cent. The YoY yield change was of a wholly different nature (-17.5 per cent%), but that deterioration should be viewed against the background of two important developments in 2015, according to the latest analysis from WorldACD. Volume-wise, October 2015 was not spectacular either. For the now more than 60 airlines in … [Read more...] about 2015 weakness from low vols not adverse yield dev’ts: WorldACD
2015 weakness from low vols not adverse yield dev'ts: WorldACD
For the second month in a row, the worldwide average USD-yield improved month-over-month (MoM), this time by 1.0 per cent, down however, from last year’s MoM figure of +1.7 per cent. The YoY yield change was of a wholly different nature (-17.5 per cent%), but that deterioration should be viewed against the background of two important developments in 2015, according to the latest analysis from WorldACD. Volume-wise, October 2015 was not spectacular either. For the now more than 60 airlines in … [Read more...] about 2015 weakness from low vols not adverse yield dev'ts: WorldACD
US FAA downgrades Thailand to Category 2
The US Federal Aviation Administration (FAA) has downgraded its safety rating of Thailand's Department of Civil Aviation (DCA) from a 'Category 1' to a 'Category 2’ rating, following earlier findings by the United Nation's International Civil Aviation Organisation (ICAO) and its own recent assessment. The FAA said its downgrade meant that Thailand either lacked the laws or regulations necessary to oversee air carriers in line with minimum international standards - or that it was deficient in … [Read more...] about US FAA downgrades Thailand to Category 2