August 27, 2024

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August 27, 2024

AirAsia secures USD 443 million for fleet renewal and refinancing

Malaysian airline AirAsia has closed a private financing of USD 443 million to fund the refurbishment of parked aircraft and refinance lease liabilities. The financing was provided in two tranches: USD 200 million was provided by investment firms Ares Management Corporation (California) and Indies Capital Partners (Singapore) for aircraft refurbishment, while the remaining USD 243 million was contributed by lessors for refinancing. AirAsia plans to use these funds to reactivate its fleet to meet the growing demand for air travel. Ten aircraft are expected to return to service by October 2024, with another 15 to follow by 2025.

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Consortium plans investment in Indian low-cost airline Akasa Air

A two-party consortium comprising private equity firm Premji Invest and venture capital firm Claypond Capital is preparing to invest around $125 million in Indian low-cost carrier Akasa Air. This investment would raise the valuation of Akasa Air, which was founded just two years ago, to about $350 million, four times the original valuation. The consortium is currently in negotiations for a significant minority stake and has hired consultancy Alvarez & Marsal to conduct due diligence. Akasa Air, founded by aviation entrepreneur Vinay Dube and the Jhunjhunwala family, plans to use the funds raised for its expansion and advance payments for aircraft deliveries. Despite losses of around $88,7 million in the first year of operations so far and expected further losses until March 2024, management remains optimistic about achieving profitability in the next two years.

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Air Cairo expands flight offer to Germany

Air Cairo, which has partnerships with Egypt Air and Sunexpress, announces a significant expansion of its flight offerings to Germany. From the 2024/25 winter schedule, the airline will strengthen its presence in the German market by launching a new route from Cairo to Cologne/Bonn. This expansion is just the first step in a broader strategy that will include further new connections in summer 2025. Air Cairo will then additionally launch two new routes connecting Hurghada with Dresden and Erfurt. These developments are part of the airline's efforts to expand its reach in Europe and specifically target the German travel market. Expansion of the 2024/25 winter schedule From October 27, 2024, Air Cairo will fly twice a week from Cairo to Cologne/Bonn. The new connection offers passengers a convenient way to travel between the Egyptian capital and one of the most important cities in North Rhine-Westphalia. Cologne/Bonn, as one of Germany's central airports, represents a strategically important hub for the airline. The addition of this route enables Air Cairo to offer tourism and business travelers an attractive option for travel to Egypt, especially during the winter months when many people want to escape the cold weather in Europe. The decision to add Cologne/Bonn to the network underlines Air Cairo's commitment to serving the demand for direct flights between Egypt and Germany. Cologne/Bonn is known for its cultural and economic attractions, making the new connection attractive for both tourism and business purposes. New routes for the 2025 summer schedule With the start of the 2025 summer schedule, Air Cairo will expand its offer

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High costs burden the aviation industry: Reduction in flight offers expected in Germany

The aviation industry in Germany is facing significant challenges due to increased costs, including the increased air traffic tax and doubled fees for security checks and air traffic control. According to the German Aviation Association (BDL), these financial burdens could lead to airlines significantly reducing their capacity in the 2024/2025 winter flight schedule. Joachim Lang, CEO of the BDL, predicts the loss of up to 4 million seats at German airports. The industry is particularly critical of the air traffic tax increased in May 2024, which airlines such as Ryanair believe could lead to flight cancellations and a shift in services to countries with cheaper location costs. Ryanair has already threatened to reduce its service at German airports by 2024 million seats in summer 1,5 if the tax is not withdrawn. Lang is calling for the additional revenue from the air traffic tax to be used to promote alternative aviation fuels, as originally agreed in the coalition agreement.

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Technical failure of KC-46A Pegasus: tanker aircraft has to make emergency landing

On August 21, 2024, a disturbing incident occurred when a U.S. Air Force KC-46A Pegasus tanker aircraft was forced to make an emergency landing at Travis Air Force Base, California, during a routine refueling mission. The tanker aircraft, operating out of McConnell Air Force Base, Kansas, was en route to an F-15 Eagle fighter jet during the deployment when it encountered a significant technical issue. This incident is just the latest in a series of difficulties that have plagued the KC-46A program. The KC-46A Pegasus, an advanced tanker developed for the U.S. Air Force, was forced to conduct a routine aerial refueling mission on August 21, 2024. According to a statement from the 60th Air Mobility Wing at Travis Air Force Base, an issue with the tanker aircraft's boom equipment arose during the deployment. This resulted in the crew having to initiate an emergency landing at Travis AFB. The landing was safe, however the runway had to be temporarily closed to allow emergency responders to respond and address potential hazards. After the successful landing, operations at the base were able to resume. The 931st Air Refueling Wing, attached to the 22nd Air Refueling Wing, confirmed in a statement to Air & Space Forces Magazine that the tanker aircraft had jettisoned part of the boom near the base. Unconfirmed photos posted on social media appear to show the damaged boom structure broken in half, as well as a deformed exhaust cone on the Auxiliary Power Unit (APU), indicating a possible collision. Past

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Hydraulic problem forces United Airlines flight to make emergency landing in Honolulu

A United Airlines flight, UA1685, from Lihue on the island of Kauai (Hawaii) to Denver (Colorado) had to be diverted to Honolulu over the weekend due to a hydraulic problem. The Boeing 757-200, which was airborne at 35.000 feet and 490 nautical miles from Honolulu, landed safely on runway 08R in Honolulu after almost three hours. The aircraft had already been delayed before takeoff due to a technical problem, and the hydraulic failure caused control problems with the landing gear during the flight. After landing, further delays occurred and the flight was ultimately canceled. Passengers had to be relocated for the next day. The 29-year-old aircraft remained grounded in Honolulu for a total of 43 hours before returning to Denver.

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Oman Air receives first Boeing 787 Dreamliner: New course for the airline

Oman Air, the national airline of the Sultanate of Oman, recently took a significant step towards modernization and expansion. The airline has taken delivery of its first Boeing 787-9 Dreamliner, part of a larger fleet expansion. This move is not only a technical advancement, but also marks a strategic shift in the airline's cabin configuration and service offerings. With the new delivery of Dreamliners and an impending admission to the oneworld alliance, Oman Air is facing an exciting phase of transformation and expansion. The delivery of the first Boeing 787-9 Dreamliner on August 23, 2024 is of particular significance for Oman Air. It is the first of a total of three new Dreamliners that the airline will receive by the end of the year. The new jet will increase the number of Boeing 787s in the fleet to ten. In addition to the two newly delivered 787-9s, the airline will take delivery of a further five of these models by 2027. Oman Air's fleet currently includes two 787-8s and eight 787-9s, which impress with their advanced technology and environmental friendliness. Oman Air CEO Con Korfiatis stressed the strategic importance of this step: "We are delighted to welcome our new Boeing B787-9 to our aircraft fleet. This expansion will enable us to maintain operational efficiency, optimise maintenance costs and ensure a seamless experience for our guests." The new fleet is part of a comprehensive plan to make the airline more financially sustainable and to consolidate its international reputation as a world-class airline. New cabin concept A striking feature of the new Dreamliner is the change in the

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Passenger numbers at Schiphol Airport will increase by 2024 percent in July 5

Schiphol Airport in Amsterdam recorded a 2024 percent increase in passenger numbers in July 5 compared to the same month last year, handling a total of 6,3 million travelers. Of these, 4,2 million were direct travelers and 2,1 million were transfer passengers. The most popular destinations were Spain, the United Kingdom, the United States, Italy and Greece. The number of aircraft movements also increased by 4 percent to 42.452 takeoffs and landings, including 34.669 flights to European and 7.783 to intercontinental destinations. Despite a slight decline in pure cargo flights by 1 percent to 1.304, cargo traffic recorded significant growth: the volume of cargo transported increased by 13 percent to a total of 128.192 tons.

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Malaysia Airlines announces drastic cuts in flight operations

Malaysia Airlines, the national carrier of Malaysia, has announced that it will significantly reduce its operations. This decision is in response to ongoing supply chain issues and technical difficulties that have resulted in a number of flight delays, cancellations and emergency landings. The temporary cuts are planned until December 2024 and aim to address the underlying issues and improve the airline’s operational efficiency. In a recent statement, Malaysia Aviation Group (MAG), the parent company of Malaysia Airlines, said the airline will temporarily reduce its flight schedule to address operational challenges. These measures have become necessary after the airline repeatedly faced supply shortages, staffing shortages and other external factors related to the global aviation sector’s post-pandemic recovery in recent months. The issues include, among others, delays in the delivery of new aircraft in 2024. These delays have resulted in fewer aircraft being available than originally planned. MAG's statement highlights that the reduction in network operations is necessary to implement the necessary corrective measures and ensure the long-term reliability of the fleet. Datuk Captain Izham Ismail, Managing Director of MAG, explained that the airline is working intensively with its aircraft and engine manufacturers as well as a variety of suppliers to comprehensively resolve the supply chain and engineering issues. "We are working closely with our manufacturers and suppliers to thoroughly resolve all issues," said Ismail. The temporary reduction in network operations is intended to ensure that the fleet remains reliable in the long term and improve operational robustness. MAG emphasises that

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Bomb threat at Brussels Airport causes evacuation and long waiting times

On Saturday evening, a bomb threat at Brussels Airport led to significant security measures that paralyzed parts of the terminal. Passengers were prevented from leaving aircraft or entering the baggage area while the departure hall was evacuated to allow a thorough search by federal police. The police, who were deployed with automatic weapons, investigated the suspicious report that led to the alarm. After being closed for almost two and a half hours, the affected areas of the airport were reopened at around 01:30 a.m. The measures led to significant delays and discontent among passengers, who had to wait a long time for clearance.

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