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*14/11/2019*
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South Korea grounds 737NGs with ‘pickle fork’ cracks as FAA expands inspectionsThe US Federal Aviation Administration (FAA) has published an airworthiness directive requiring that Boeing 737NGs, which have completed 30,000 flight cycles, be re-inspected on its hardware known as pickle forks.

Under the directive, carriers must inspect 737NGs that have completed 22,600 flight cycles within their next 1,000 flight cycles within the next 60 days. The order impacts US-registered 737NGs, including -600, -700, -800 and -900 series aircraft.

In response, Boeing has issued a statement, which said: “We regret the impact to our customers and have a repair plan in place to address any findings.

“Less than 5% of the 1,200 airplanes that have undergone the initial inspection were found to have the cracking issue. The secondary issue has been discovered on three in-service airplanes and one airplane that was undergoing maintenance in preparation for a modification.”

IBA has said that it could cost up to $250,000 per aircraft to fix the pickle forks affecting Boeing 737NG variants -600, 700, 800, 900 and 900ER aircraft.

FAA ordered inspections on the pickle fork issues in October after the agency was notified of structural cracks.

Boeing discovered cracks on pickle fork hardware of 737-800s undergoing passenger-to-freighter conversions in China.

Airlines impacted include QantasSouthwest Airlines, Gol and Indonesian carriers Sriwijaya Air and Garuda.

South Korea is the latest country to ground a number of Boeing 737NG found to have structural cracks.

The Ministry of Land, Infrastructure and Transport (MOLIT) inspected 100 737NGs and found that 13 contain cracks.

Nine of these were identified in a first round of inspection in October and had clocked more than 30,000 flight cycles.

The Airline Economics Aviation 100 Global Leaders Awards 2020The Airline Economics Aviation 100 Global Leaders awards recognises the year’s most outstanding performers in the commercial aviation industry.

Please cast your vote today for the top ten performers in the following categories: Airline, Lessor, MRO, Bank, CEO/Industry Leader, CFO/Treasury Team, Appraiser, Law Firm and Parts Supplier.

The top ten rankings for each category are based primarily on an industry survey vote, however the votes are then filtered to ensure fairness (votes for your own company will not count for example). Nominations for each category are also accepted and are judged using a combination of points awarded for specific criteria (see our website award page for full details).

https://www.research.net/r/AEAwards2020

Aviation 100 Deals of the Year 2020 The Airline Economics Aviation 100 Global Leaders awards also recognise the most outstanding finance and leasing deals closed in 2019 Aviation 100 Deals of the Year 2020 that are presented at the Global Leaders awards held in Dublin in January.

Please submit your nominations for the Deals of the Year for all deals closed in 2019 in the following categories:

M&A Deal of the Year
Capital Markets Deal of the Year
Equity Deal of the Year
Debt Deal of the Year
Lease Deal of the Year
Supported Finance Deal of the Year
Editor’s Deal of the Year for Innovation
Overall Deal of the Year

To nominate your deal, please submitting your pitch to The Aviation 100 editorial team victoria@aviationnews-online.com with AE AWARDS 2019 in the subject line. Indicate clearly the following details: Deal name, Size & Structure, All Deal Participants, Abstract detailing the main challenges, unique characteristics and benefits of the deal.

The editorial team’s decision for all award winners is final.

Airline Economics
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Available assets from
Aircraft
Model MSN YoM TFHs/TFCs Engines CC OL/A/S AD
A320-200 2584 2005 CFM56-5B4/P PAX OL/S 210331
Engines and APUs
Model ESN L/E/S AD
CFM56-5C4 741646 L IMM

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Airline News

Wizz Air chief says UK expansion will continue ‘no matter what happens to Brexit’

Wizz Air chief executive Jozsef Varadi has said the airline will continue with its expansion plans in the UK “no matter what happens to Brexit”.

The co-founder of the Hungarian low-cost carrier outlined that London is a key market for the airline and spoke of his desire for plans to expand in the capital, despite missing out on Thomas Cook’s take-off and landing slots at Gatwick in the wake of its collapse.

“London is the single biggest travel market in the world,” Varadi told Bloomberg. “I don’t think this is going to change any time soon, no matter what happens to the country, what happens throughout Brexit.

“We are very keen on positioning ourselves strategically to the London market.”

It’s a buoyant time for Wizz Air whose net profit rose more than a quarter for the first half of the 2019 financial year. The figure stood at just over €371 million, a 26.2% rise from the same period one year ago.

Elsewhere, revenue rose 21.7% to €1.67 billion as the airline carried 22.1 million passengers in the first half of 2019, a 17.9% increase.

Greece’s Astra cancels flights as it struggles for funding amid closure rumours

Greek regional airline Astra has cancelled all flights amid speculation that it has financial struggles.

The airline has not commenced any flights since 9 November, it had hoped that a bailout from the Greek government would help – but it hasn’t.

Local reports suggest that in order to remain in operation, the airline is looking for a new investor to provide funding – this looks doubtful because of the large amount of competition in the Greek market.

Speculation suggests that Astra may be forced to cease operations permanently.

Astra was co-founded by Ioannis Zlatanis, founder of Interaviator Ltd, and Anastasios Zirinis, former CEO of Olympic Aviation. It launched its operations on 5 July 2008, and has a small fleet that consists of two ATR 42-300s, one ATR 72-200 and one BAe 146-300.

Volotea gears up for major growth plans in 2020

Spanish low-cost airline Volotea will introduce five additional Airbus A319 next year making a total fleet of 38 aircraft.

The airline has said that the move to add five Airbus A319 aircraft comes at a time where it will phase out three Boeing 717 in 2020 accelerating the transition to become an Airbus fleet airline in 2022.

The airline’s other major plans in the year 2020 include adding three new bases in Naples, Lyon and Hamburg as well as launching 53 new routes.

Carlos Muñoz, founder and CEO of Volotea, commented: “We are both excited and confident about the growth we are experiencing in all the markets where we operate.

“At the back of a very competitive year, we are now growing in aircraft, routes, markets, team and improving the quality of our service, which goes to speak about the resilience of our strategy in serving mid and small European cities. Most importantly we are increasing the opportunities of our clients, by continuing to offer new possibilities for travel at very competitive fares with almost 350 routes in 2020.”

Aegean finalises secured loan for new A321neo aircraft

Asset management firm Aviation Capital Group (ACG) has been mandated by Greek airline Aegean to structure, arrange, and provide a guarantee of a secured loan by Apple Bank for Savings.

The secured loan will be in order to finance Aegean’s two A321neo aircraft and separately to place two A320neo aircraft with Aegean under long-term operating leases.

The aircraft are scheduled to be delivered over the next 12 months.

Andrew Falk, managing director of ACG, commented: “ACG is very excited to have this opportunity to work with Aegean and Apple Bank. This combined mandate demonstrates ACG’s ability to provide our airline customers with a complete solution to their fleet needs.

“We continue to offer operating lease solutions and, through our AFS program, we are able to provide an airline with financing for aircraft it wishes to own. We look forward to strengthening our relationship with Aegean.”

Iberia set to launch new routes and introduce more A350 aircraft in 2020

Iberia is set to launch a new route from Madrid, Spain to the US destination of Washington DC, commencing summer 2020.

The new route is set to operate up to five times per week, the non-stop flights to the US capital will be operated by Iberia’s A330-300s.

Next year, Iberia will increase its capacity on its flights to San Juan in Puerto Rico operating one extra daily flight.

The non-stop route from Madrid to San Francisco is scheduled to begin in early April and continue until late October.

Iberia is also set to introduce A350 aircraft on the Madrid-Tokyo route on 29 March, and in June it will add two more weekly Tokyo flights for a daily service.

In 2020, Iberia’s fleet of A350s will double to 12 units, the airline said.

Austrian Airlines reveals October 2019 operational results; introduces new US route

Austrian Airlines is set to introduce new flights to Boston in the US in March next year as the carrier also revealed an increase in passengers flown in October 2019.

The airline said that about 1.4 million passengers flew on its services in the month marking an increase of 4.4% compared to the same period last year.

The available seat kilometers (ASK) was up 0.5% with revenue passenger kilometers (RPK) climbing 1.5%.

Meanwhile, capacity utilisation of the flights equalled 82.8% on average in October 2019, an increase of 0.9 percentage points compared to the previous year.

The number of flights operated by Austrian Airlines was increased by 0.7% to 12,565.

The airline will launch flights to Boston on 29 March, 2020. The service will initially run four times a week from its Vienna base, but the weekly frequency will rise by two from mid-April, using Boeing 767s aircraft.

The airline will also increase capacity on its Chicago route by switching to an all-777 service.

Norwegian Air Shuttle ASA startsjoint venture with CCBLI

A new joint venture has been established between CCB Leasing Corporation DAC (CCBLI) and Norwegian Air Shuttle.

Under the agreement, a team from Hogan Lovells advised long-standing client Norwegian on the establishment of the joint venture with CCBLI to finance, own and lease aircraft that the airline has on order.

CCBLI, a wholly-owned subsidiary of China Construction Bank Corporation, will own a 70% share of the JV and will also provide senior debt financing for the 27 aircrafts that will comprise the JV.

Norwegian, through its wholly owned subsidiary Artic Aviation Assets DAC, will own the remaining 30%.

The deal has the potential to cut Norwegian’s committed capital expenditure by approximately $1.5 billion based on the initial 27 aircraft.

The Hogan Lovells team was led by London finance partner Robert Fugard and senior associate Anthony Doolittle (corporate) with support from partner Don McGown (corporate) and senior associate Russell Green (finance).

Cargo News

BelugaXL receives Type Certification from EASA

The BelugaXL has received its Type Certification from the European Aviation Safety Agency (EASA) paving the way for entry-into-service by early 2020.

The BelugaXL is said to allow for 30% extra transport capacity being 7 metres longer and 1 metre wider than its BelugaST predecessor.

With the largest cargo bay cross-section of all existing cargo aircraft worldwide, the BelugaXLcan carry two A350 XWB wings compared to the BelugaST, which can only carry one. With a maximum payload of 51 tonnes, the BelugaXL has a range of 4,000km (2,200nm).

The aircraft gets its stamp of approval following an intensive flight test campaign that saw the BelugaXL complete more than 200 flight tests, clocking over 700 flight hours. In total, six aircraft will be built between 2019 and 2023, gradually replacing the current fleet of BelugaSTtransporters.

Launched in November 2014, the BelugaXL is based on an A330-200 Freighter, with a large re-use of existing components and equipment, the BelugaXL is powered by Rolls Royce Trent 700 engines. The lowered cockpit, the cargo bay structure and the rear-end and tail were newly developed jointly with partners, giving the aircraft its distinctive look.

The BelugaXL is the latest addition to Airbus’ transportation portfolio.

Environment News

Shell supports SkyNRG to develop first sustainable aviation fuel (SAF) production plant

Shell will support SkyNRG to develop Europe’s first dedicated sustainable aviation fuel (SAF) production plant.

The development of the DSL-01 production plant in Delfzijl, Netherlands, is led by SkyNRG, a global market leader for SAF and a long-term strategic partner of Shell Aviation.

Anna Mascolo, vice president Shell Aviation, commented: “Shell Aviation are proud to be part of the DSL-01 project: this first dedicated plant is a crucial milestone in accelerating the supply of sustainable aviation fuels in Europe and will contribute to a reduction in emissions in the aviation sector.

“When it comes to carbon emissions, the aviation industry needs collaboration amongst industry players, it needs support to drive technical innovation and investments, and last but not least it needs a multiple set of solutions that help drive a faster transition to a net zero emissions world. At Shell we have started the journey, although we recognise there is a lot more to do to avoid, reduce and offset carbon emissions.”

The DSL-01 production facility is on schedule for commissioning in 2022, representing the earliest dedicated commercial supply of sustainable aviation fuel to the aviation market in Europe.

The plant will annually produce 100,000 tonnes of sustainable aviation fuel, corresponding to a reduction in lifecycle CO2 equivalent emissions of approximately 270,000 tonnes. While also producing naphtha, and 15,000 tonnes of bioLPG annually as a by-product.

The feedstocks used for production will be waste and residue streams, such as used cooking oil, sourced predominantly from regional industries.

The facility will run on sustainable hydrogen, produced local to the site in the Groningen Seaport.

The combined benefits of the feedstocks, sustainable hydrogen, and use of low carbon energy to power production, will contribute to the production of sustainable aviation fuel with lifecycle carbon emissions approximately 85% lower than conventional jet fuels, as estimated by the Roundtable on Sustainable Biomaterials.

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Airline News

SAA flights cancelled as strike action takes place

South African Airways (SAA) has cancelled nearly all its domestic, regional and international flights scheduled for 15 November and 16 November as it aims to minimise the impact of disruptions for its customers.

The cancellations follow an announcement by the South African Cabin Crew Association (SACCA) and the National Union of Metalworkers of South Africa (NUMSA) that members will embark on industrial action from 14 November.

SAA Spokesperson Tlali Tlali said: “We are putting our customers first and regret the inevitable inconvenience that these cancellations may cause our customers. However, by acting proactively SAA can certainly help customers find alternatives.

“Unless alternative arrangements are in place, customers are requested not to go to their departure airports during the disruption as SAA will be unable to provide any assistance. Information on the status of our flights will be regularly updated on our website.”

Only flights operated by South African Airways will be affected as well as all flights operated on partner airlines, including SA Express, Mango, SA Airlink and all codeshare partners, including flights operated by Star Alliance partner airlines.

The airline has said it will assess the situation on an ongoing basis and customers will be kept informed of all operational developments on a daily basis.

It was revealed that SAA has presented a revised offer for employees delivering a 5.9% increase subject to the availability of funds from lenders. NUMSA and SACCA are demanding an 8% increase.

National Transport Movement (NTM) has not stated whether its members will embark on a strike or not.

PIA and Etihad relaunch codeshare agreement

Etihad Airways and the flag carrier of Pakistan, Pakistan International Airlines (PIA), have relaunched its codeshare partnership.

The agreement will provide customers with greater access to both airlines’ routes between the UAE and Pakistan.

The codeshare flights will be open for sale on 13 November 2019, for travel from 26 November.

The partnership will see Etihad Airways place its ‘EY’ code on PIA services to and from Abu Dhabi to the Pakistani cities of Lahore, Islamabad and Peshawar. PIA will place its ‘PK’ code on Etihad services from Karachi, Islamabad and Lahore to Abu Dhabi; among others.

Etihad Airways has been serving Pakistan since November 2004, and currently operates two daily flights from Abu Dhabi to Islamabad, 11 weekly flights to Lahore, and a daily service to Karachi.

PIA has been serving Abu Dhabi for more than three decades, and currently flies seven weekly flights each from Lahore, Islamabad and Peshawar.

Jazeera Airways launches direct flights between Kuwait and Al Ain

Jazeera Airways has established a new direct flight between Travelers in Kuwait and Al Ain, Abu Dhabi.

“This deal marks a new chapter in tourism between Kuwait and Abu Dhabi” said Nabeel M. Al Zarouni, regional promotions manager, Middle East and Africa at DCT Abu Dhabi. “Proximity, volume and strong cultural ties between the UAE and Kuwait make it one of the most important source markets for us in Abu Dhabi. We would like to thank Jazeera Airways for their hard work and collaboration over the past months to bring this pioneering deal to life, and we will be working closely with them in the future to encourage Kuwaiti travels to discover the UAE gem that is Al Ain, with the help of the new flight routes.”

Established in 2004, Jazeera Airways is Kuwait’s leading low-cost airline, operating regionally and internationally, serving over 33 popular destinations across the Middle East, India and Europe through its Jazeera Terminal T5 at Kuwait International Airport.

Maintenance News

Qatar Airways signs $4 billion LEAP-1A engine and service agreements

Qatar Airways has selected CFM International LEAP-1A engines to power its new fleet of 50 A321neo family aircraft.

Alongside the engine deal, Qatar has also signed with CFM International a rate-per-flight-hour support agreement to cover its entire fleet of LEAP-1A engines, including spares, for a combined total value of $4 billion at list price.

Qatar Airways has been a CFM customer since 2015 and currently operates a fleet of 38 A320ceo family aircraft, of which eight are CFM56-5B powered. The first LEAP-1A powered A321neo are scheduled to be delivered in 2020.

Qatar Airways Group chief executive Akbar Al Baker said: “We chose the LEAP engine based on its proven efficiency in commercial operations.

“This engine addresses our strategy to operate a state-of-the-art fleet with the most advanced technologies in the industry while expanding our network and maintaining flexibility for our customers.”

CFM International’s advanced LEAP engine continues to set a new industry standard for fuel efficiency and asset utilisation as the fleet continues the most rapid buildup in commercial aviation history, with the fleet logging more than five million engine flight hours through August, three years after commencing commercial service.

CFM International president and CEO Gaël Méheust added: “We are excited to take another step forward in our partnership with Qatar Airways. This is a real trust mark in our products, and we look forward to helping them introduce the fuel-efficient LEAP engine into their fleet to support Qatar Airways fast growth and maintain lower operating costs.”

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Airline News 

Colombian low-cost carrier Wingo appoints new CEO

Colombian low-cost carrier Wingo has appointed Carolina Cortizo Colon as its new chief executive officer, effective immediately.

Before becoming the CEO of Wingo, subsidiary of Panama’s Copa Airlines, Cortizo held several positions with Copa, most recently that of director of pricing and revenue management.

Commenting on her appointment, Cortizo said: “Wingo is the low-cost airline with the most international recognition in the region. I am proud of becoming part of the team that made this possible. We will take Wingo to the next level with an important expansion plan, which will see us add more routes and and grow our fleet, starting in 2020.”

Copa chief Pedro Heilbron made his thoughts on the appointment known in a Twitter post, commenting: “Carolina, after seven years of successfully holding several positions with Copa, had to compete with candidates from all over the world to get selected for this new challenge.”

Copa Airlines reports increased net profit during Q3 2019 results

Panama’s flag carrier Copa has reported net profit of $104 million during the first quarter of 2019, up from the $58 million posted during the same period a year ago.

Operating profit for the quarter came in at $133 million, representing a near 71% increase from an operating profit of $78 million in 3Q18.

Total revenues during Q3 2019 increased 5.3% to $708 million.

Operating margin for the third quarter of 2019 came in at 18.8%, 7.2 percentage points higher than the 11.6% generated in the corresponding period last year.

Despite the operational challenges presented by the grounding of its Boeing MAX fleet, Copa Airlines delivered an on-time performance of over 92% and a flight-completion factor of 99.8%, maintaining its position among the best in the industry.

Copa Holdings ended the quarter with a consolidated fleet of 103 aircraft – 68 Boeing 737-800s, 14 Boeing 737-700s, 15 Embraer-190s and 6 Boeing MAX9s.

As part of its plan to increase efficiencies, the airline has decided to accelerate the exit of its E190 fleet and is planning to sell the remaining 14 aircraft over the next 18 months, three years earlier than previously planned.

This anticipated exit could result in a book loss in the range of $90 million related to the sale of the aircraft and spare parts inventory.

Codeshare agreement introduced between Silver and Delta

A new codeshare agreement has been introduced between Silver Airways and Delta Airlines which aims to provide customers of both airlines with more options.

Under the agreement, Delta’s airline designator code ‘DL’ is available on Silver Airways’ 3M’ designator code for over 150 Caribbean flights per week, including to and from San Juan, Anguilla, Antigua, Dominica, Tortola, Nevis, St. Kitts, St. Thomas, St. Croix and St. Maarten.

Silver’s wholly-owned subsidiary, Seaborne Airlines, previously had a codeshare relationship with Delta on its Caribbean network. Those flights are now operated for Silver Airways.

Silver Airways CEO Steve Rossum said: “We are thrilled to welcome Delta Air Lines to Silver Airways’ codeshare family, and are pleased to provide Delta’s customers with Silver’s safe, reliable and customer-friendly service and expanded reach throughout our extensive Caribbean network.”

Leasing News 

Brazil’s Azul takes delivery of two Airbus A321neo

Brazilian airline Azul has taken delivery of its first two Airbus A321neo aircraft on lease from CDB Aviation.

John Rodgerson, Azul CEO, commented: “The A321neo is an important milestone for Azul as it will allow the company to simultaneously grow its route network and become more efficient.”

Maintenance News

Avianor obtains A220 maintenance approval from Transport Canada

Avianor has received Transport Canada (TCCA) approval to add the Airbus A220- 100 and A220-300 to its maintenance capability list.

With this approval, Avianor can offer post-delivery modification services to operators of the Airbus A220 family of aircraft.

Jean Seguin, president of Avianor, commented: “As Airbus main A220 final assembly line is located less than 1km from Avianor’s hangar, Avianor can offer all Airbus A220 clients who are taking delivery of their aircraft from Mirabel, the opportunity to complete custom modifications and service bulletins.

“All without using engine cycles and crew teams as Avianor shares the same airfield as the Airbus factory.”

People News 

Boeing names Donna Hrinak president of Canada division

Boeing has named Donna Hrinak to the newly-created position of president of Boeing Canada, effective immediately.

Hrinak will coordinate all company business activities in Canada and will be responsible for expanding Boeing’s local presence, managing business partnerships and government affairs and pursuing new growth and productivity initiatives in Canada.

Hrinak will also continue to serve as president of Boeing Latin America and Caribbean; and will report to Sir Michael Arthur, president of Boeing International.

Boeing managing director for Canada, Bob Cantwell, will report to Donna Hrinak.

Commenting on the new appointment, Sir Michael Arthur said: “Expanding Donna’s leadership role to include Boeing Canada streamlines company efforts to identify new opportunities to grow the business.

“Donna has successfully led Boeing in Latin America and Caribbean over the past eight years. Similarly, Bob is an outstanding leader of Boeing Vancouver and managing director of Boeing Canada. Together, they’ll strengthen our relationships in Canada and pursue new business partnerships across the aerospace industry.”

Prior to joining Boeing in 2011, Hrinak was vice president, global public policy and government affairs, for Pepsi.

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Airline News

Cathay Pacific CEO warns of ‘challenging and uncertain’ short-term outlook

Cathay Pacific has further lowered its full-year profit forecast as it issued a warning that the second half of 2019 will come in lower than expected due to continued protests in Hong Kong.

Ronald Lam, Cathay Pacific’s chief customer and commercial officer warned that the short-term outlook remains “challenging and uncertain”.

He said: “We expect our second-half financial results will be significantly below those of our first-half.”

Cathay Pacific said its drop in business was due to reduced passenger volume, less busy flights and lower airfares. In response, the airline will cut passenger flight capacity against its original schedule by 2 to 4% between August and October, and 6 to 7% for November and December.

Demand for flights to and from Mainland China continued to fall at a steep rate, declining 21.9% in October. China flights typically make up one-fifth of Cathay Pacific’s daily flights. October was the third month in a row in which Cathay has seen demand in its China market fall more than 20%.

The demand bright spot for Cathay came from Europe, which increased 5.4%.

In October, demand for travel into Hong Kong remained weak with inbound passenger traffic seeing a year-on-year decline of 35%, consistent with the trend seen in both August and September.

The drop in outbound Hong Kong traffic was 13% in October, again similar to the trend over the past two months.

The group has also said it is looking to optimise passenger fleet of its airlines – Cathay Pacific, Cathay Dragon and HK Express.

It’s a move which the group hopes will allow each airline to achieve its full development potential by leveraging respective unique strengths.

In total, the group has existing orders for 65 new aircraft that it will receive by 2024, as part of the fleet modernisation plan. This includes the delivery of 21 state-of-the-art Boeing 777-9 aircraft, 12 modern Airbus A350 and 32 A321neo aircraft between 2020 and 2024.

Following a comprehensive review of its airlines’ fleets, the group has decided that Cathay Dragon will operate the first 16 of these narrow-body A321neo aircraft upon delivery from 2020 to 2022. The remaining 16 aircraft, meanwhile, will join the HK Express fleet from 2022.

Qantas prepares for second test non-stop flight from New York to Sydney

Australia’s national carrier Qantas is preparing for its second ultra-long haul research flight, as part of scientific studies into minimising jetlag for passengers and improving crew wellbeing.

The first research flight was operated between New York and Sydney non-stop four weeks ago with 49 passengers and crew. It cut around three hours off the typical gate-to-gate travel time of current one-stop flights.

The airline has re-purposed the delivery flights of three brand new 787 Dreamliner aircraft, which would otherwise ferry empty from Seattle to Australia.

A third research flight, repeating the New York-Sydney route, will take place in December.

Researchers from the University of Sydney’s Charles Perkins Centre as well as the Cooperative Research Centre for Alertness, Safety and Productivity (Alertness CRC) will again travel on the non-stop Dreamliner flight to collect passenger and crew data.

The research flight will carry around 50 passengers and crew in order to give the 787-9 the range required for the 17,800 km flight, expected to take around 19 and a half hours.

Bangkok Airways posts Q3 2019 operating results

Bangkok Airways has announced its operating results for the third quarter of 2019.

The airline posted total revenue amounting to 6.7 million baht, with a reported net profit of 66 million baht; up by 66.3%compared to the same period last year.

Puttipong Prasarttong-Osoth, president of Bangkok Airways, commented: “In the third quarter of 2019, the better performance was mainly due to an increase of revenue from airport-related businesses and unallocated revenues, together with a significant reduction of major expenses in airline business.”

For the nine-month period of 2019, the company has accumulated a total revenue of 20.5 million baht, down by 2.5% from the same period in 2018.

Decreasing revenue was from airline and airport businesses which dropped by 6.9% and 9.7%, respectively.

Revenue from airport–related businesses and unallocated revenue grew by 6.7% and 22.1% since last year.

Southeast Asia region contributed the highest growth rate at 23%, followed by the passengers from the North America region at 10% and the South Asia region at 3%. For the nine-month period of 2019, the company reported a net loss of 121 million baht. The loss was attributed to the equity holders of the company and was 131 million baht.

Jetstar Asia launches direct service from Singapore to Hefei

Jetstar Asia has launched a new direct service from Singapore to Hefei in mainland China.

The service will commence from 28 November and will operate three services a week using Airbus A320.

Jetstar Asia CEO Bara Pasupathi said: “As the only Singapore-based airline flying direct to Hefei Xinqiao International Airport, we are proud to be giving travellers a greater choice of destinations in China enabling them to maximise their experience there.

“The new charter service is in partnership with Shanghai Xihao Aviation Service, and helps us fulfil our vision of helping more people travel to more places and further builds on Jetstar’s commitment and presence in the important Chinese market.”

The Jetstar Group of airlines offers more than 80 return flights a week into seven Chinese cities, including Shanghai, Haikou and Guangzhou from Singapore, Vietnam, Japan and Australia.