Turkey's Tepe Akfen Ventures (TAV) and Sigma Sembada Group signed an initial agreement on 30-Jun-2010 for the construction of a new airport at Singaraja, Bali, with an investment of USD500 million (Antara News, 06-Jul-2010). Sigma and TAV will establish a joint venture company to build the project on a build, operate and transfer (BOT) scheme. Sigma is seeking cooperation with PT Angkasa Pura to construct or expand a number of airports in Indonesia.
TAV and Sigma to build airport in Bali, Indonesia
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Until 2014 Turkey was one of the most reliably fast-growing air traffic markets in Europe. In 2015 passenger numbers levelled off, and in 2016 traffic is set to decline. The impact of geopolitical events, including a series of terrorist attacks, the civil war in neighbouring Syria and the failed coup attempt in Jul-2016, has weighed heavily on demand for international travel to/from Turkey.
Foreign airlines switched capacity away from Turkey in summer 2016, but the country's two largest operators – Turkish Airlines and Pegasus Airlines – continued to grow. However, following years of double-digit growth by both, Turkish Airlines and Pegasus Airlines are taking unusual steps this winter. According to data from OAG, Turkish looks set to implement year-on-year capacity cuts, while Pegasus appears to be planning flat capacity for the period from Nov-2016 to Mar-2017. It seems likely that both airlines will again cut their growth targets for 2016.
Moreover, Pegasus is seeking wet-lease customers for six of its current fleet of 73 aircraft. Perhaps more significantly, Turkish is to reschedule 165 aircraft deliveries planned for 2018-2022, cutting its planned fleet size in 2021 from 439 to 400.
Garuda Indonesia international outlook Part 1: further expansion despite weak 1H2016 results
Garuda Indonesia is planning further international expansion in 4Q2016 and 2017, despite a recent lacklustre performance in the international market. Garuda is adding capacity to China in 4Q2016 and aiming to launch services to the US in 2017.
Garuda’s international load factor was only 70% through the first eight months of 2016 as the airline struggled to fill additional seats generated by an 18% increase in ASKs. International yields have also declined as Garuda swung back into the red in 1H2016.
The long haul network has particularly struggled, driving the drop in profitability. However Garuda is keen to continue strategic expansion.