Latest news with #A330neos
Business Insider
6 days ago
- Business
- Business Insider
Airbus (EADSF) Receives Large New Order from VietJet
Vietnamese budget airline VietJet announced on Monday that it has placed a new order with European plane manufacturer Airbus (EADSF) for 20 A330neo wide-body jets. This brings the total number of A330neos the airline has agreed to purchase up to 40 and follows a deal that was signed last year for the same number of aircraft. The latest agreement was announced during French President Emmanuel Macron's visit to Hanoi, where he met with Vietnamese leaders in order to discuss strengthening ties between the two countries. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Although VietJet didn't reveal the price of the deal or the exact delivery timeline, it said that the order is part of its long-term strategy to support expansion over the next ten years. The agreement was signed by VietJet Chairwoman Nguyen Thi Phuong Thao and Airbus executive Wouter van Wersch. Thao said that the A330neo jets will help VietJet grow its international flight network, especially across the Asia-Pacific region, and may be used for future long-haul routes to Europe. Unsurprisingly, Van Wersch added that Airbus is proud to be the airline's wide-body aircraft provider of choice. The announcement also comes at a time when Vietnam is in the middle of trade talks with the United States, where it is trying to avoid getting hit with heavy tariffs. This has led VietJet to show interest in buying aircraft from Boeing (BA), which U.S. and Vietnamese officials have said could help reduce Vietnam's large trade surplus with Washington. Interestingly, though, it's worth noting that the airline previously agreed to buy 200 Boeing 737 MAX jets in a deal that was signed in 2016, but none of those planes have been delivered yet. Is EADSF Stock a Good Buy? Turning to Wall Street, analysts have a Strong Buy consensus rating on EADSF stock based on 11 Buys, two Holds, and zero Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average EADSF price target of $210.22 per share implies 17.9% upside potential.
New Straits Times
22-04-2025
- Business
- New Straits Times
MAG plans major widebody fleet revamp across three campaigns
KUALA LUMPUR: Malaysia Aviation Group (MAG) is preparing to roll out three major widebody aircraft campaigns as the group charts its next phase of twin-aisle fleet growth. MAG group managing director, Datuk Captain Izham Ismail said the first campaign involves finalising options for the 20 Airbus A330neo aircraft, powered by new generation engines, which the group is currently evaluating. The group signed a deal with Airbus in August 2022 to purchase 20 A330neo, with options for another 20. MAG has received three of the 20 A330neos and is currently operating the aeroplanes to destinations such as Melbourne, Auckland and Bali. The group is expecting to receive another seven A330neos this year. The second campaign will see the group evaluating new long-range widebody aircraft such as the A350, Boeing B787 Dreamliner and B777-9. Izham said MAG is open to various aircraft types but is mindful of delivery slot availability for popular models such as the A350 and B787. "But it's tough because from 2031 onwards the slot availability is limited for the B787 and the A350. We have to look into the context of the slot as well." "If to secure an earlier slot is tough, and the B777-9 is a 400-seater aircraft, it is still doable to us if we spec it properly with maybe a three-class cabin. It is probably workable," Izham told Business Times in an interview recently. MAG group chief strategy and transformation officer Bryan Foong said eventually the group plans to grow its A350 fleet from seven to 16. The third campaign involves renewing the cargo fleet operated by MAG's freighter arm, MASKargo. Izham said the group is exploring whether to convert its A330ceo passenger aircraft, fitted with current-generation engines, into freighters or to acquire brand-new cargo aircraft. "The current cargo fleet has aged considerably, 12-15 years. So, it's either new (freighter aircraft) or converting," he said. MAG is expected to issue a request for proposal (RFP) for its long-range widebody campaign in the third or fourth quarter this year. Izham said MAG's long-term planning goes well beyond the next decade. "What we are doing today is not for tomorrow. We are looking at 2043, that far ahead. Buying an airplane is not like buying a car. "It is a huge capital expenditure, a huge investment, and the airplane can only be delivered starting from four to five years down the road." As MAG looks to expand its footprint in the Asia Pacific region, the group is also planning for a larger widebody presence in response to slot constraints at major airports in the region. Bryan said airlines are facing constraints in terms of adding more flight frequencies, particularly in ASEAN capital cities due to the increasing congestion in the major airports. "Today, we have more B737 narrowbody (aircraft), but eventually by 2035, we would have more widebody (aircraft) because we need to grow in the Asia Pacific region. Destinations such as ASEAN capitals are congested and will be very congested. "So, because of that, we have no choice but to put in larger airplanes because we cannot add more frequency. This means that we need to grow our widebody fleet," he added. Bryan also said that through the next 10 years, MAG will be transitioning its current narrowbody and widebody fleet of B737-NGs (new generation), A330ceos and A350s to the B737 MAX 8, A330neo and replacement for its current A350s in early 2030s.
