10.01.2023 - 03:12 UTC
Mumbai-based private equity firm Convergent Finance and former Kingfisher Airlines executive Manoj Chacko have announced the formation of Fly91 (Goa Dabolim), a new Indian regional airline that aims to begin operations by December 2023.
In a joint statement, the parties said Convergent Finance and funds advised by the firm would anchor Fly91's initial INR2 billion rupee (USD24.3 million) investment.
UDO Aviation Private Limited, a holding company set up by Chacko that owns Fly91, has applied for a No Objection Certificate and for requisite security clearances from the Indian Ministry of Civil Aviation. According to Chacko, Fly91 will operate a young fleet of ATR72-600s.
Fly91 aims to operate in the short-haul segment (45 and 90-minute flights), serving underserved regional airports under the Indian government's Regional Connectivity Scheme (RCS). Commercial operations will debut from Goa Dabolim, which will be the start-up's first base. The region is one of India's most popular tourist destinations.
Convergent Finance Managing Partner Harsha Raghavan will be Fly91's chairman, and Chacko will be the airline's chief executive officer....
28.12.2022 - 01:48 UTC
Indonesia AirAsia (QZ, Jakarta Soekarno-Hatta) plans to have all its aircraft back in the air in 2023 and add additional planes to the fleet. CEO Veranita Yosephine Sinaga and corporate secretary Leon Ruben outlined the 2023 strategy at a December 21, 2022, shareholder’s briefing.
The airline presently has 16 of its 23 aircraft operational. Sinaga said capacity had increased “tremendously” throughout 2022. Asked about the seven planes still parked, she said “efforts are being made to resume operations soon… we are quite confident that we can recover overall in the next few months.”
The airline exclusively operates A320-200s and, according to ch-aviation schedules data, currently has a 3.44% market share in Indonesia (measured by seat capacity). However, discounting domestic routes where the airline had historically lagged behind its local competitors, Indonesia AirAsia is offering the most seats of any airline on routes in and out of Indonesia, with a 12.9% market share. Sinaga acknowledged the advantages this international market segment dominance gives the low-cost carrier and told shareholders more engagement with tourist authorities...
20.12.2022 - 12:23 UTC
Ambitious Malaysian logistics operator Teleport has confirmed securing USD50 million from undisclosed "large institutional investors" to fund the acquisition and induction of additional aircraft, the development of infrastructure in new hubs, and technological upgrades.
Teleport is the logistics company of Capital A (formerly known as AirAsia Group), the business group behind AirAsia (AK, Kuala Lumpur International). Since starting up in 2018, Teleport has captured 9% of the intra-Southeast Asian cargo market, primarily by providing value-for-money e-commerce parcel deliveries in tandem with on-the-ground last-mile delivery partners and airlines like AirAsia and K-Mile Asia (8K, Bangkok Suvarnabhumi) who operate aircraft for and on behalf of Teleport.
"Today we are profitable, larger, and growing faster than pre-COVID. We are battle-tested and believe a challenging environment is the perfect opportunity to build the leading cross-border logistics company in Southeast Asia,” said Teleport CEO Pete Chareonwongsak. “Key to Teleport’s leadership in the next three years is the extension of our network coverage by air with the induction of A321-200(P2F) freighters starting in 1Q 2023."
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20.12.2022 - 09:44 UTC
Philippines AirAsia (Z2, Manila Ninoy Aquino International) has dodged a last-minute holiday season shutdown by paying a portion of a PHP1.14 billion Philippine peso (USD20.5 million) debt owed to the Civil Aviation Authority of the Philippines (CAAP). The low-cost carrier had a noon deadline on Friday, December 16, to pay the bill which was primarily made up of air navigation and concession fees.
According to Manila's Business Inquirer news outlet, CAAP Director General Manuel Antonio Tamayo wrote to the airline on December 15 telling them to pay the debt or risk being shut out of CAAP-owned and operated facilities. Philippines AirAsia subsequently settled an undisclosed portion of that debt within 24 hours. ch-aviation has approached CAAP for a comment on the matter.
Philippines AirAsia is a joint venture between Capital A (formerly known as AirAsia Group) subsidiary AirAsia Investment Limited which has a 40% stake in the airline and the Romero family-owned F&S Holdings which holds the remaining 60%. ch-aviation PRO airlines data shows the airline flies to 30 destinations in 11...
