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CAPA News Briefs

CAPA publishes more than 400 global News Briefs every weekday, covering all aspects of the aviation and travel industry. It’s the most comprehensive source of market intelligence in the world, with around 50 per cent of content translated from non-English sources. The breadth of our coverage means you won’t need any other news sources to monitor competitors and stay informed about the latest developments in the wider aviation sector.

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Below is a sample of the latest news headlines. 162 news briefs have been published for CAPA Members in the past 2 days.

Avolon SVP - commercial Steve Mason said (19-Jan-2020) he expects "geopolitical uncertainty and international trade tensions will define the year" for 2020, that opportunity will emerge through the turbulence. According to Mr Mason, although improved airline profitability is forecast, many sizeable carriers "remain on life support". Airline capacity growth will be supported by the "still-buoyant global economy and the expanding middle class", which continue to drive long term passenger demand. For lessors, investment grade rated players with global platforms "are best positioned to seize any opportunities that may be presented". [more - original PR]

Japan National Tourism Organisation (JNTO) reported (17-Jan-2020) visitor arrivals to Japan for Dec-2019 and for the 12 months ended Dec-2019. Details include:

Air China announced (17-Jan-2020) the China Securities Regulatory Commission approved the carrier's public issue of corporate bonds with aggregate principal amount of no more than CNY16 billion (USD2.3 billion) to qualified investors in China. The corporate bonds will be used in stages, with the first tranche of bonds to be issued within 12 months from the date of approval (08-Jan-2020) and the other tranches to be issued within 24 months of approval. [more - original PR]

GMR Infrastructure announced (16-Jan-2020) plans to divest 49% of GMR Airports Ltd to TRIL Urban Transport Private Limited (part of TATA Group), an affiliate of GIC and SSG Capital Management. This is an increase from the 44.44% stake GMR previously agreed to divest to the investors. [more - original PR]

Air Mauritius established (16-Jan-2020) a transformation steering committee, effective 16-Jan-2020. The committee will consult with stakeholders, evaluate proposals of appointed consultants, propose actions to the board and monitor the implementation of approved programmes. The carrier appointed Sherry Singh as chairperson of the committee. [more - original PR]

Delta Air Lines CEO Edward H Bastian stated (14-Jan-2020) "We're certainly seeing some weakness" in Asia, due to "the China issues and some of the tariff discussions that's bled over into Korea and a few of the other Asian economies". Mr Bastian stated despite the weaknesses: "The health of our businesses in the US and the US corporate's doing quite well". [more - original PR]

Joby Aviation announced (16-Jan-2020) it received USD590 million series C financing for development and production of its electric vertical take-off and landing (eVTOL) aircraft. Toyota was the lead investor contributing USD394 million. [more - original PR]

Boeing president and CEO David Calhoun, via an email sent to all Boeing employees, stated (13-Jan-2020) this is a "crucial time" for the company and he sees "opportunities to be better" by "engaging one another and our stakeholders with greater transparency, holding ourselves accountable to the highest standards of safety and quality, and incorporating outside-in perspective on what we do and how we do it". Mr Calhoun outlined the following initial priorities for 2020:

  • Return the 737 MAX to service safely: Mr Calhoun said this "must be our primary focus" and includes following the lead of regulators and working with them to "ensure they're satisfied completely with the airplane and our work, so that we can continue to meet our customer commitments";
  • Rebuild trust: Mr Calhoun said many of Boeing stakeholders are "rightly disappointed in us", and Boeing needs to "repair these vital relationships". This will be achieved "through a recommitment to transparency and by meeting and exceeding their expectations";
  • Focus on our values: Boeing will commit to shared values while further strengthening its culture. This includes fostering an inclusive environment that embraces oversight and accountability and puts safety, quality and integrity above all else;
  • Operate with excellence: Boeing will embrace 'Operational Excellence' to work together to deliver safe products and services to our customers, while continuously improving our quality metrics. This "requires a focused approach and we will all need to find any opportunities for simplification to ensure we are dedicated to what matters most" said Mr Calhoun;
  • Maintain production health: Boeing will keep taking steps to maintain its supply chain and workforce expertise so it is ready to restart production and increase rate safely, smartly and with the highest standards of quality;
  • Invest in our future: Mr Calhoun observed the company's markets are growing, customer demand is evolving, the competition is increasing and technology is advancing "at a pace we've never seen before". Boeing "must keep innovating to succeed" and will "continue to invest in our global workforce and new processes and technologies that will help us become safer and more efficient as we define the future of aerospace". [more - original PR]

Bombardier announced (16-Jan-2020) that with its exit from the Commercial Aerospace segment, the company is reassessing its ongoing participation in the Airbus Canada Limited Partnership (ACLP), which produces the A220 under a JV with Airbus. Bombardier stated that while the A220 programme continues to win in the marketplace and demonstrate its value to airlines, the latest indications of the financial plan from ACLP calls for additional cash investments to support production ramp-up, pushes out the break-even timeline, and generates a lower return over the life of the programme. This may "significantly impact" the JV value. Bombardier will disclose the amount of any write-down when it completes its analysis and report its final 4Q2019 and full year 2019 financial results on 13-Feb-2020. [more - original PR]

Duty Free International reported (16-Jan-2020) the following financial highlights for the three months ended 30-Nov-2019:

  • Revenue: MYR197.2 million (USD47.2 million), +25.6% year-on-year;
  • Profit before tax: MYR12.1 million (USD2.9 million), -41.0%;
  • Net profit: MYR9.5 million (USD2.3 million), -44.0%;
  • Total assets: MYR826.5 million (USD197.9 million);
    • Cash and cash equivalents: MYR350.6 million (USD84.0 million);
  • Total liabilities: MYR258.5 million (USD61.9 million). [more - original PR]

*Based on the average conversion rate at MYR1 = USD0.2395

China Aircraft Leasing Corporation (CALC) announced (17-Jan-2020) an order for 40 new Airbus A321neo aircraft. Following this new order, CALC's accumulative order book with Airbus now stands at 252 aircraft, making CALC the seventh largest lessor customer for Airbus. [more - original PR]

SA Airlink CEO and MD Rodger Foster stated (16-Jan-2020) the airline intends to continue working with South African Airways' (SAA) business rescue practitioners "to find a solution that enables SAA to continue playing its important role in the Southern African market", but added: "We have a responsibility to take action to preserve Airlink's viability as a financially-robust, independent and privately-owned airline". Mr Foster said the transition from the airlines' franchise agreement to a new commercial agreement, currently scheduled for Jun-2020, may be accelerated "should SAA's circumstance worsen". [more - original PR]