Latest news with #AirbusA321XLR
The Star
a day ago
- Business
- The Star
Trading ideas: Public Bank, DNeX, Food Life, Master TEC, MN, Guocoland, Capital A, Kobay, LGMS, Pharmaniaga, Scientex
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. Public Bank ordered to pay RM90mn in damages to the National Feedlot Corporation for confidentiality breach. Dagang Nexchange Bhd has secured a RM103.8mn contract from the government to continue providing support for the Integrated Government Financial and Management Systems over a period of 60 months. Food Life Sdn Bhd a wholly-owned subsidiary of Farm Price Holdings Berhad, has entered into agreements to acquire assets and a business from Hong Yun Vegetables and Fruits Sdn Bhd, as well as assets from D & D Sinma 8888 Univeg Trading for a total of RM4.5mn in cash. Master TEC Group Bhd has entered into a MoU with Yangtze (Jiangsu) Marine Technology Company Limited to explore collaboration on high-specification and next-generation cable solutions for Malaysia's growing power infrastructure market. MN Holdings Bhd has secured a RM39.6mn contract for the expansion of the electrical supply system for a cable landing station located at a data centre in southern Peninsular Malaysia. Guocoland (Malaysia) Bhd said the group faces a net financial impact of RM5.5mn following an arbitration ruling against its wholly owned subsidiary over a disputed project termination. 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. Kobay Technology Bhd plans to reallocate RM20.7mn — part of the funds originally set aside for its aluminium business expansion — to develop manufacturing services for the electronic and electrical sector. LGMS Bhd is seeking a transfer of its shares to the Main Market of Bursa Malaysia from the ACE Market. Pharmaniaga Bhd said it will continue to stay in the black for the FY2025 after making a turnaround last year, according to its managing director Zulkifli Jafar. The group is targeting to deliver FY2025 revenue of RM4bn a profit after tax of RM60mn. Scientex Bhd saw its net profit slip over 5% to RM123.9mn in 3QFY25 as the improved operating profit at its property segment was more than offset by a weaker packaging division.
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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
Time of India
30-05-2025
- Business
- Time of India
IndiGo plans overseas push as it readies to fly new aircraft
IndiGo is set to expand its long-haul flight network, introducing routes to London, Copenhagen, Athens, and Siem Reap. The airline will incorporate Airbus A321 XLR and A350 aircraft in 2026 and 2027, respectively, and begin long-haul services to Amsterdam and Manchester in July using leased Boeing 787s. Tired of too many ads? Remove Ads New Delhi: IndiGo plans to mount more long-haul flights , adding London, Copenhagen, Athens, and Siem Reap, as India's largest airline by market share continues its overseas expansion plans. The budget airline-with a more than 60% share of the domestic market-will be inducting the long-range narrow-body Airbus A321 XLR aircraft and the A350 widebody aircraft-of the Airbus family in 2026 and 2027, respectively to bolster its overseas flight will make its maiden foray into long-haul flying with services to Amsterdam and Manchester starting July-using Boeing 787 aircraft leased from European carrier Norse Atlantic. So far, the carrier's network has been limited to domestic routes, and up to six-hour international flights . In the domestic sector, IndiGo plans to add Hindon, Adampur, Navi Mumbai, and Noida, increasing local destinations to 95 this fiscal airline-targeting a 600-aircraft fleet by 2030-Friday announced plans to set up a maintenance, overhaul and repair facility in Bengaluru. IndiGo has acquired 31 acres for the facility that will be able to handle both narrow body and wide body aircraft."The Indian aviation sector is at an inflection point. We are excited to lead the next phase of growth with a strategy that balances agility, scale, and regulatory compliance," said Pieter Elbers , CEO, IndiGo.
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Business Standard
30-05-2025
- Business
- Business Standard
IndiGo to start non-stop flights to 10 int'l destinations in FY26: CEO
IndiGo plans to launch non-stop flights to 10 new international destinations in 2025–26 (FY26), including Manchester and London in the UK, Amsterdam in the Netherlands, Copenhagen in Denmark, Siem Reap in Cambodia, Athens in Greece, and four cities in Central Asia, its Chief Executive Officer Pieter Elbers said on Friday. 'IndiGo currently serves 40 international destinations. By the end of FY26, we aim to expand this to 50,' Elbers said at a press conference. He added that the expansion will be supported by the recently leased Boeing 787 aircraft and the Airbus A321XLR planes, which are expected to join the fleet in the latter part of FY26. The A321XLR is a new long-range narrow-body aircraft developed by Airbus. It is slated to enter commercial service globally in the second half of FY26. Elbers did not mention the names of the Central Asian cities that would be connected via IndiGo flights in FY26. Responding to a question on whether IndiGo might consider joining one of the three major global airline alliances — Star Alliance, oneworld, or SkyTeam — Elbers said the airline currently sees more value in building bilateral codeshare partnerships rather than joining a formal global grouping. 'We're having partnerships with different airlines from different parts of the world. If it makes sense for the two parties, we can do the partnership... We have no short-term ambitions — or no ambitions, actually — at this point in time to move into an alliance,' he said. He explained that while Indian carriers currently account for about 45 per cent of India's international passenger traffic, the figure is significantly lower on certain routes, particularly to Europe. 'In some parts of the world, it's a 50-50 share, but for Europe, for example, it's more like 70 per cent of traffic on European operators and just 30 per cent on Indian operators... So the opportunity to expand in that region is just very obvious for us," he added. There are three major global airline alliances in the world: Star Alliance (featuring Lufthansa, Singapore Airlines, United Airlines, Air India, among others), SkyTeam (which includes Air France-KLM, Delta Air Lines, and Korean Air), and oneworld (featuring British Airways, Qatar Airways, and American Airlines). These alliances allow member airlines to coordinate schedules, share airport lounges, offer reciprocal frequent flyer benefits, and simplify global ticketing and connections. A year ago, IndiGo — for the first time — placed an order for wide-body aircraft, ordering 30 Airbus A350 planes. These are scheduled to join IndiGo's fleet from 2027 onwards. Elbers ruled out the possibility of advancing the delivery schedule for the A350s, saying the production and allocation of such aircraft follow a rigid timeline. 'Wide-bodies have a very different structure compared to narrow-bodies,' Elbers said, when asked whether the A350 deliveries could be brought forward to accelerate IndiGo's international expansion. 'I wish I could just pick up the phone and say, 'You know what, switch a few — I won't take these (narrow-bodies), I'll take those (wide-bodies).' But it doesn't work like that,' he added. Using a culinary metaphor, he stated, 'It's not like switching from a samosa to a paneer tikka — you can't just do it instantly. There's a lead time involved, and the production schedule is already very tight and optimised.' Elbers noted that the decision to place the wide-body order in 2024 was a timely move. 'I'm very glad we made the A350 order last year, which will allow us to induct those aircraft from 2027. But yes, you're right — India is in a hurry, and so is IndiGo.'
