Latest news with #AirbusA220
Cision Canada
17 hours ago
- Business
- Cision Canada
Minister Joly travels to France to support innovative Canadian industries
PARIS, /CNW/ - The Honourable Mélanie Joly, Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions, led Canada's presence at the 55th International Paris Air Show. Minister Joly showcased Canada's highly innovative aerospace sector and promoted the country as a top destination for global aerospace investment—at a time when Canada is seeking to help build trusted, reliable partnerships that support its companies and workers. Minister Joly met with CEOs of Canadian and global aerospace businesses as well as with key provincial partners, including François Legault, Premier of Quebec; Christine Fréchette, Quebec Minister of Economy, Innovation and Energy; and the Honourable Victor Fedeli, Ontario Minister of Economic Development, Job Creation and Trade. During the visit, Minister Joly underscored Canada's world-class aerospace sector, with its strong workforce and cutting-edge innovation, and highlighted that the government is committed to making major investments in the economy and supporting Canada's defence sector. These investments will generate jobs and opportunities throughout Canada's industrial base, strengthen domestic capabilities, and diversity Canada's international partnerships. She also advocated for workers across other Canadian industries, including steel and aluminum, which are well positioned to be better integrated into global aerospace supply chains. A highlight of the visit was LOT Polish Airlines' announcement of its intention to purchase up to 84 Canadian-built Airbus A220 aircraft, made in Mirabel, Quebec. This is a major win for Canadian workers. The deal will create many high-paying jobs and highlights Canada's desire for deeper industrial and commercial ties with Europe at a time when cooperation with reliable partners is more important than ever. Minister Joly welcomed France's announcement of its purchase of new GlobalEye aircraft from Saab, which uses Bombardier's Canadian-designed, -developed and -built Global 6500 platform. In addition, Minister Joly welcomed the announcement of $87.4 million for the latest projects from the Initiative for Sustainable Aviation Technology (INSAT), a pan-Canadian, industry-led network focused on accelerating sustainable innovation in aviation. Prior to the Paris Air Show, Minister Joly represented Canada at VivaTech 2025, Europe's largest startup and tech event. Canada was Country of the Year at the event, and its participation was a celebration of our leadership in AI and new technologies that the world needs. Quotes "Canada is open for business. Our aerospace companies and workers help lead the world, and international partners want to invest. Canada is one of the few countries in the world that has everything needed to develop and manufacture modern aircraft. Building the strongest economy in the G7 means supporting our leading industries, forging new trade partnerships and showing Canadian leadership at home and around the world." – The Honourable Mélanie Joly, Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions Quick facts Canada is one of the top suppliers of aircraft technology, and Canadian-made aerospace parts are used on almost every passenger aircraft in the world. The International Paris Air Show is a global showcase for the aerospace industry that attracts over 2,500 exhibitors from 48 countries. Associated links Stay connected Find more services and information on the Innovation, Science and Economic Development Canada website. SOURCE Innovation, Science and Economic Development Canada
Morocco World
17 hours ago
- Business
- Morocco World
Morocco Emerges as Aerospace Powerhouse with 150 Firms, €2.5 Billion Revenue
Marrakech – Morocco is cementing its position as a global aerospace hub, boasting 150 companies operating factories nationwide and generating €2.5 billion in annual revenue. Speaking to French newspaper 'Le Point' at the renowned Paris Air Show, Minister of Industry and Commerce Ryad Mezzour shared insights into the sector's remarkable growth. These aerospace enterprises, concentrated in Casablanca, Tangier, Rabat and Fez, provide full-time employment to 26,000 individuals. Their primary focus lies in producing fuselages, structural components, interior furnishings, and wiring systems. Mezzour also shed light on the collaboration between national carrier Royal Air Maroc (RAM) and French aerospace giant Safran concerning the CFM engine. 'During French President Emmanuel Macron's visit to Morocco last October, an agreement was signed extending the partnership to the next-generation CFM-Leap engine,' he stated. Morocco's competitive edge lies in its ability to handle advanced technology, with 23,000 engineers graduating annually, 400 of whom enter the aerospace field. 'Production costs are competitive at €25 per hour, compared to €100-120 in Europe or the US,' Mezzour stressed. Looking ahead, the minister outlined ambitious plans: 'We will expand our offer to cabin fittings, landing gear manufacturing, and within ten years, we think we can offer a final assembly line for commercial aircraft.' He expressed confidence in doubling the sector's turnover by 2030. RAM is currently exploring the acquisition of the Airbus A220, a narrow-body jet well-suited for its European routes. 'A study is underway for an aircraft order by RAM, which is interested in the Airbus A220, a small-to-medium range jet suited for its European network,' Mezzour confirmed. The air show kicked off with a bang for Morocco as aviation titan Boeing inked a major deal, signaling a new chapter in its Moroccan investment strategy. Casablanca Aeronautique, a subsidiary of French group Figeac Aero, entered into a partnership agreement to manufacture machined structural parts for Boeing's 737 MAX program. This agreement builds upon a 2016 Memorandum of Understanding between Boeing and the Moroccan government. 'This commitment underscores the planemaker's desire to strengthen Morocco's industrial base and sustainably anchor its supply chains in the country,' Mezzour concluded. Tags: aerospace industry in moroccoMorocco aeronautics industryRyad Mezzour
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Business Standard
2 days ago
- Business
- Business Standard
AirAsia seeks jets for growth but restructuring first priority: CEO
Airline entrepreneur Tony Fernandes, CEO of AirAsia owner Capital A Group, said on Wednesday he is in talks to buy 50 to 70 Airbus A321XLR jetliners, but signalled the first priority was to complete the group's restructuring. Asia's largest low-cost carrier also remains in talks to buy 100 smaller Airbus A220 or Embraer E2 regional jets but Fernandes, a veteran of eye-catching order announcements, all but ruled out an expected deal at this week's Paris Airshow. "I don't think there'll be an order at this air show. Were still doing a lot of work with Airbus and other (manufacturers).... I think we'll look to do something imminently, in the next 1-3 months," Fernandes told Reuters in an interview. "We want to make sure we clear out of our restructuring. The great thing is, we're back in the growth stage." The Malaysia-based low-cost carrier operates an all-Airbus fleet and is one of Airbus' biggest customers, having staged a series of dramatic air show finales after last-minute talks. The comments came after industry sources said AirAsia was in advanced discussions to place an order for at least 100 Airbus A220 regional jets at the Paris Airshow, with rival Embraer also vying for a chance to win a major breakthrough for its E2 jet. Two industry sources said Airbus had made an "aggressive" offer to boost orders for its A220 and win a launch customer for a new 160-seat version, or kickstart a larger version still on the drawing board, but that barring any further twist in negotiations on Wednesday the talks had stalled partly over financing. "There is no deal," one of the sources said. One of Airbus' biggest customers with over 350 planes on order, AirAsia has not placed an order since the pandemic, but ended a gap in deliveries by taking four Airbus jets last August, marking what it described as a new growth milestone. It has been steadily restructuring its order book as it faced financial difficulties after a slump during COVID-19. The company, hard hit by pandemic travel restrictions, was classified by Malaysia's stock exchange as financially distressed in 2022. It says it hopes to exit this so-called PN17 status by the middle of this year as it pursues a recovery. NETWORK EFFECT Capital A plans to sell its AirAsia aviation business to long-haul unit AirAsia X to consolidate long and short-haul operations under a single AirAsia brand. The group also needs consent letters from creditors, of which it has "virtually all of them," Thai Stock Exchange approval, and to raise new capital. "I am hoping we can wrap up this process in June and complete everything by the end of July .... We are getting closer to my liberation day, not Donald Trump's liberation day," Fernandes said in a play on the nickname for US tariffs. He said new investors had been "locked in," but declined to provide specific details ahead of any formal announcement. Bloomberg reported in March that the Saudi Public Investment Fund was set to invest in AirAsia. "We never confirmed (PIF) or not, but we have all our capital locked in and as soon as we get the consent letters and the Thai Stock Exchange we will announce who the new capital is," Fernandes said. AirAsia has led a boom in low-cost carriers in the region in the past two decades as incomes rose. Such carriers offer bargain fares by driving costs as low as possible, with large fleets of one aircraft type driving efficiencies of scale. Fernandes said the airline was ready to tweak that approach by picking smaller planes in a different category. What does the network need? It needs lots of frequency and it needs the ability to go to more destinations. Fernandes said he is still in discussions with China's COMAC about a potential order for its C919 narrowbody aircraft, though trade tensions between China and the US - which sources say has suspended engine deliveries - remain a possible obstacle. We received an offer from COMAC. The geopolitics don't help ... we need to be confident that that's going to be OK, but it's a good aircraft and well certainly look at it.
The Star
2 days ago
- Business
- The Star
AirAsia owner seeks jets for growth but restructuring first priority, CEO says
Capital A chief executive officer Tan Sri Tony Fernandes. PARIS: The CEO of Capital A Group, Tan Sri Tony Fernandes, said on Wednesday the owner of AirAsia is in talks to buy 50 to 70 Airbus A321XLR jets in coming months, but that the first priority is to complete the group's restructuring. Asia's largest low-cost carrier also remains in talks to buy 100 Airbus A220 or Embraer E2 regional jets but there is unlikely to be any announcement on plane orders at this week's Paris Airshow, he told Reuters in an interview. "I don't think there'll be an order at this air show. We're still doing a lot of work with Airbus and other (manufacturers).... I think we'll look to do something imminently, in the next 1-3 months," Fernandes said. "We want to make sure we clear out of our restructuring. The great thing is, we're back in the growth stage." The Malaysia-based low-cost carrier operates an all-Airbus fleet and is one of Airbus' biggest customers. The comments came after industry sources said AirAsia was in advanced discussions to place an order for at least 100 Airbus A220 regional jets at the Paris Airshow, with rival Embraer also vying for a chance to penetrate the all-Airbus carrier. AirAsia has also had an offer from China's COMAC, Fernandes said. AirAsia has previously said it was looking to add smaller planes for regional routes. One of Airbus' biggest customers with over 350 planes on order, AirAsia has not placed an order since before the pandemic, but ended a gap in deliveries by taking four Airbus jets last August, marking what it described as a new growth milestone. It has been steadily restructuring its order book as it faced financial difficulties. The company, hard hit by pandemic travel restrictions, was classified by Malaysia's stock exchange as financially distressed in 2022. It says it hopes to exit this so-called PN17 status by the middle of this year as it pursues a recovery. Capital A plans to sell its AirAsia aviation business to long-haul unit AirAsia X to consolidate long and short-haul operations under a single AirAsia brand. The group also needs consent letters from creditors, of which it has "virtually all of them," a Thai approval and to raise new capital. "I am hoping we can wrap up this process in June and complete everything by the end of July. We are getting closer and closer," Fernandes said. Fernandes said new investors had been "locked in," but declined to provide specific details ahead of any formal announcement. - Reuters
New Straits Times
3 days ago
- Business
- New Straits Times
AirAsia to announce Airbus A220 order at Paris Air Show?
KUALA LUMPUR: AirAsia will most likely make a major fleet announcement at the Paris Air Show as early as tomorrow (Wednesday) with industry sources indicating the low-cost carrier is likely to place an order for at least 100 Airbus A220 aircraft. If finalised, the deal would make AirAsia the first low-cost carrier in Southeast Asia to operate the cutting-edge A220 and marks the airline's bold step towards its post-pandemic growth strategy. The A220, a smaller narrow-body aircraft designed for shorter to medium-haul routes, is believed to be able to play a crucial role in expanding AirAsia's regional network, particularly to underserved and secondary cities across Southeast Asia. Both AirAsia's co-founders, Tan Sri Tony Fernandes and Datuk Kamaruddin Meranun, are believed to be in Paris at the time of writing, fuelling speculation that the deal could be unveiled during the international aerospace event. The Paris Air Show, held at Le Bourget, is the world's oldest and largest air show and frequently serves as the platform for major aircraft purchase announcements. Business Times has reached out to AirAsia's parent Capital A Bhd for comment. Meanwhile, an Airbus spokesperson had on June 9 commented to Business Times that the European aircraft manufacturer does not comment on discussions they may or may not have with customers. The aircraft is highly regarded for its fuel efficiency, cabin comfort and suitability for thinner routes. The A220 seats between 100 to 150 passengers and is capable of flying up to 6700km. Analysts said the aircraft is ideal for high-frequency regional routes and point-to-point domestic operations in key markets such as Malaysia, Indonesia, the Philippines and Thailand. AirAsia has long been a key Airbus customer, operating one of the largest all-Airbus A320 Family fleets in the world. Airbus is also eyeing Malaysia as a strategic market for the A220, given the country's growing aviation footprint. Airbus Asia Pacific president Anand Stanley said in a media event in Kuala Lumpur last month that the aircraft fits well with Malaysia's evolving role as a regional hub. "Malaysia is already a great connector between China and India and Asean, and the A220 can cover this region perfectly for long, thin routes, but it can also cover the regional routes perfectly within Malaysia to create that feeder network," he said during a media briefing at Airbus' new office in Putrajaya. While he confirmed that discussions are ongoing with Malaysian carriers, Stanley clarified at that time that no agreements have been finalised. "We are still only in conversations, but we do hope that, even though I cannot comment on timing, that because of the inherent demand, and the nature of Malaysia as a strong hub, that we can see the A220 in Malaysia," he added. Stanley described the A220 as a clean-sheet design aircraft that is unique in its category highlighting its exceptional fuel efficiency, lower carbon emissions, and enhanced passenger comfort. In Asia Pacific, existing A220 operators include Korean Air and Qantas, while Air Niugini, the national airline of Papua New Guinea is set to join the list of operators soon.
