Latest news with #A330s
Business Recorder
26-05-2025
- Business
- Business Recorder
Vietnam's Vietjet Air to buy 20 Airbus A330s: airline statement
HANOI: Vietnamese airline Vietjet Air said Monday it will buy 20 widebody Airbus A330-900 planes, doubling its order from the aviation giant in a deal worth an estimated $8 billion. The budget carrier's chairwoman Nguyen Thi Phuong Thao signed the deal with Airbus as French President Emmanuel Macron looked on as he made an official visit to Hanoi. The carrier said the order was part of its plans to expand its operations in Asia as well as introducing future long-haul services to Europe. The announcement comes on top of the 20 A330-900s ordered by VietJet in February last year. The airline said the A330s would enable it to "increase flights on high-capacity routes across the Asia-Pacific region, as well as to introduce future long haul services to Europe". The list price of the aircraft was around seven billion euros ($8 billion), an Airbus source told AFP. "Vietjet remains dedicated to delivering greater connectivity and sustainable air travel for millions of passengers in Vietnam and around the world," Thao said in the Vietjet statement. Vietnam property tycoon bets big on new airline The Vietjet fleet currently numbers 115 aircraft, all Airbus, including seven A330-300s operating to destinations in Australia, India and Kazakhstan. The carrier has another 96 single-aisle A320s on order from Airbus. The Vietjet deal is one of a raft of agreements expected to be signed between Vietnamese and French companies as Macron makes his official visit to the communist country, which was once ruled by France.
Yahoo
29-04-2025
- Business
- Yahoo
One of Egypt's largest airlines to cut flights for Russians due to sanctions
One of Egypt's largest airlines, AlMasria Universal Airlines, will reduce its flight programme between Russia and the resort cities of Sharm El Sheikh and Hurghada by nearly one-third. Source: Russian propaganda newspaper Izvestia, citing a source in the company Details: The source said that ahead of the tourist season, the airline will cancel 50% of flights for tour operator Anex Tour, 37% for Fun & Sun, and 21% for Coral Travel. The cancelled flights are expected to be redistributed among Russian airlines Azur Air, Ural Airlines and Red Wings, as well as Egyptian airlines Egypt Air, Air Cairo and Red Sea Airlines. The reason for the schedule revision is reported to be EU secondary sanctions, which have limited the airline's ability to acquire aircraft. AlMasria had allocated around US$100 million for the purchase of two Airbus A321s and two A330s for use on the Russian market. "After one of the payments was made, the funds were frozen in a deposit account because the Egyptian airline was accused of working with Russia. As a result, only two aircraft were delivered, and even then with a delay of more than 65 days," the source told Izvestia. Additionally, the decision to reduce flights to Russia was influenced by security risks from drone attacks and frequent delays in flight departures. Russia's Federal Air Transport Agency confirmed that AlMasria had decided to cut its number of flights to Russia. Background: The European Union Aviation Safety Agency (EASA) has recommended that airlines avoid flying to Moscow, St Petersburg and other Russian cities. EASA updated its conflict zone bulletin, adding Russian airspace – particularly the European part of it – to its list of areas considered dangerous for civil aircraft. Support Ukrainska Pravda on Patreon!
Yahoo
06-03-2025
- Business
- Yahoo
Turkey's ULS Cargo Airlines to receive 1st A330 freighter in March
Air Transport Services Group, a major lessor and operator of freighter aircraft, expects to deliver its first Airbus A330-300 converted freighter this month to Turkey-based ULS Airlines Cargo and a second one in April, an industry source close to the company said. The Airbus A330-300 cargo jets are much larger than the three A310 converted freighters ULS Airlines Cargo currently operates from Istanbul Airport. Air Transport Services Group (NASDAQ: ATSG) said in Tuesday's fourth-quarter earnings report that it plans to place its first four Airbus A330-300 converted freighters with customers this year after historically relying on the Boeing 767 as its platform of choice. The first two A330 freighter conversions are expected to be completed in March, ATSG added in its annual report. The A330's introduction has slipped several months for undisclosed reasons. Industry publication Cargo Facts in March 2024 first reported ULS Airlines Cargo as the launch customer for ATSG's A330 lease program and said then the planes would join the fleet last August. That month, Wilmington, Ohio-based ATSG said two A330s were nearly finished undergoing conversion by Airbus aftermarket services affiliate Elbe Flugzeugwerke GmbH and would be delivered in late 2024. EFW accepted ATSG's first A330 passenger plane at one of its conversion facilities in October previously reported that EFW was months behind schedule delivering A330 passenger-to-freighter conversions to Amazon Air and South America's Avianca because of program mismanagement that compounded supply chain challenges across the aerospace sector. An ATSG spokesperson didn't respond to an email query seeking details about the A330's conversion and delivery schedule. ATSG intends to acquire and convert 29 A330s for cargo to diversify its midsize aircraft offering as the availability of used 767 passenger aircraft begins to dry up, but will take longer to do so after the company in 2023 decided to scale back capital expenditures in favor of cash flow and shareholder returns. The company several years ago formed a joint venture to design a conversion for Airbus A321 into a cargo configuration, but so far has had difficulty leasing them because of overcapacity in the global narrowbody freighter fleet, a slowdown in regional parcel demand and competition from the Boeing 737-800. There are three A321s in service and five additional conversions in storage that ATSG said it expects to lease this month, stockholders voted to approve the proposed merger with Stonepeak, an alternative investment firm specializing in infrastructure and real assets. The company is working to obtain approval from the U.S. Department of Transportation and hopes to complete the transaction in the first half of the year, according to quarterly results published on Tuesday. The addition of 10 Boeing 767-300 freighters provided by retail and logistics giant Amazon helped improve airline revenues from the prior quarter. Amazon last spring ended a partnership with Atlas Air and began transferring the 10 medium freighters to ATSG subsidiary ABX Air to operate on its behalf for five years. The final aircraft joined the ABX fleet in December. ATSG now operates 51 medium 767 freighters for Amazon, including 30 owned and leased by ATSG. ATSG's results improved slightly in the second half of 2024. Revenue during the fourth quarter was flat year over year at $517 million. Adjusted earnings from core operations increased 23% to $162.2 million. ATSG generated $34.7 million in free cash flow versus negative cash flow of $65.5 million in the same 2023 period. On a full-year basis, revenue slipped $100,000 to $2 billion, and adjusted core earnings decreased 2.2% to $549.4 million. Straight leasing revenue decreased 12% for the fourth quarter and 6% for the year as the scheduled return of nine 767-200 and four 767-300 leased aircraft offset the placement of nine additional 767-300s with customers. At the end of the year, ATSG had 91 aircraft leased to external customers – one more than in 2023. It sold nine older 767-200s and three 767-300s during the year. The outsourced airline business saw pretax earnings tumble to $1 million for the full year from $32 million in 2023 due to reduced flying in the Amazon and DHL Express delivery networks, as well as by passenger operator Omni International. Increased costs, including for employee compensation and capital expenses, also hurt profitability, ATSG revenue block hours for ATSG airlines declined 5% in 2024 versus the prior year. Click here for more FreightWaves/American Shipper stories by Eric Kulisch. Write to Eric Kulisch at ekulisch@ Avianca faces delivery delays for Airbus converted freighters The post Turkey's ULS Cargo Airlines to receive 1st A330 freighter in March appeared first on FreightWaves. Sign in to access your portfolio
Yahoo
03-03-2025
- Business
- Yahoo
AELF Acquires Airbus A330-300 on Lease to South African Airways
Announcement Made at ISTAT Americas Convention PHOENIX, ARIZONA / / March 3, 2025 / During the ISTAT Americas annual convention in Phoenix today, Aircraft Engine Lease Finance, Inc ("AELF") announced it has acquired an A330-300 on lease to South African Airways; the 2016 vintage aircraft bears serial number 1754. "This A330-300 acquisition presented a unique opportunity to connect our recent activities in South Africa and our extensive experience with A330s," said Joe Cirillo, Chief Commercial Officer. "South African Airways is a long-standing flag carrier on a positive trajectory, which we are very proud to add to our roster of valued airline partners." AELF has recently acquired, leased and financed several 737-800s in of South Africa and elsewhere, and owns a leased fleet of A330-200s. "SAA is pleased and grateful at the renewal of its partnership with AELF as we grow and modernise our fleet in light of the exciting prospecting beckoning our industry here in Africa and beyond," added John Lamola, CEO of South African Airways. The transaction was arranged by the Dutch firm Arena Aviation Capital. "This transaction is our first with AELF who we congratulate with the acquisition and smooth professional deal closing" said Erik Dahmen, Chief Commercial Officer of Arena. "Moreover, it is a testimony to our desire to add value to and generate more revenue from third party services, apart from traditional aircraft lease management." About the AELF Aircraft Engine Lease Finance Inc. ("AELF") is an experienced commercial aircraft lessor. Based in Chicago, AELF offers customized and flexible financing solutions to airlines and commercial aircraft operators worldwide. AELF has been in operation for a decade and is continually expanding its commercial aircraft and engine portfolio, with a strong current focus on the 737NG market. About South African Airways With 90 years in the skies, South African Airways (SAA) is the most awarded Skytrax airline in Africa and the proud carrier of the South African flag, linking domestic, regional and international destinations. About Arena Aviation Capital Arena Aviation Capital is a globally recognized aircraft leasing and asset management company, specializing in structuring and managing aircraft investments. Arena, with its main offices in Amsterdam and Dublin, today manages over 50 aircraft and engine assets leased to 25 airline customers in Europe, North & South America, Africa and Asia. With a commitment to excellence and innovation, Arena Aviation Capital partners with investors to provide tailored solutions in aircraft leasing and asset management. For more information, visit Contact Information Amy Phillips communications@ SOURCE: Aircraft Engine Lease Finance, Inc. View the original press release on ACCESS Newswire Sign in to access your portfolio
Euronews
27-02-2025
- Business
- Euronews
Greenland's big tourism push: Why the world's largest island wants more visitors
Whale watching, iceberg treks and almost guaranteed Northern Lights - why wouldn't you want to visit Greenland? Yet tourism in the country is a relatively young business, and one that the world's largest island is keen to grow. Greenland is seeking to diversify its economy. About 90 per cent of its exports currently come from fishing, but relying so heavily on a single industry is seen as potentially risky. The government is aiming for tourism to reach 40 per cent of its export value by 2035. Although tourism isn't 'exported' as such, it brings foreign money into the country, so is classified as an economic export. To put that into context, the tourism revenue generated in 2023 (€250 million) would need to triple in the next decade to come close to 40 per cent of Greenland's export value. So the island is hoping to attract many more intrepid travellers to its shores in 2025, with a unique offering of remote seclusion and bucket-list Arctic activities. One big reason it will be easier to visit Greenland In October 2024, the capital of Greenland, Nuuk, officially opened its new international airport. Although there has been an airport in Nuuk since 1979, its runway was too short for large airliners to use, and flights were limited to small turboprop and regional jet aircraft. Now, the runway has more than doubled in length to 2,200 metres and a new terminal has been built. Major airlines with large passenger jets are able to fly in and connect the island's capital directly to destinations around the world. 'Previously, Nuuk did not have a sufficiently long runway or suitable terminal for non-stop flights to Europe or beyond,' notes airline route analyst James Pearson. 'This meant that Air Greenland's A330s had to fly from Kangerlussuaq, with most passengers connecting on to Nuuk,' he says. 'Nuuk's enhanced facilities will be vital for tourism and economic development.' Several airlines have already made a move to begin serving Nuuk in 2025. United Airlines will launch a nonstop flight from Newark, just outside New York on the East Coast of the US. The route starts from 14 June, initially scheduled to operate seasonally until 25 September. Joining United is Scandinavian airline SAS, which will begin flights from Copenhagen in June. SAS has served Greenland on and off for decades but can now connect to the capital with a larger aircraft. SAS noted its Danish roots and historic links to Greenland, saying it is "with a special humility and pride that we now fully resume this role.' It added, 'We hope that with our new route to Nuuk, we can help support this development and increase growth and employment in Greenlandic society.' Also operating out of the new airport are Icelandair, connecting the island to Keflavik, and home flag carrier Air Greenland. As well as its long-established route to Copenhagen, Air Greenland is adding connections to Aalborg and Billund for summer 2025. While it's still early days for the new airport, hopes are high that more international airlines will begin service. And it's not just Nuuk that's getting an aviation upgrade. Ilulissat in the north and Qaqortoq in the south both plan to open an international airport by 2026 with equally long and capable runways. Discussions are ongoing about modernising other airports in Greenland in a bid to make the country more accessible. Why is Greenland keen to attract tourists? Targeting more tourists is seen as a key economic enabler for Greenland. The remote, sparsely populated island is keen to diversify away from its reliance on the fishing industry, and sees tourism's potential as an additional revenue source. Tourism is already beginning to grow, with a record number of foreign visitors in 2023. Almost 40,000 arrived by air, 9 per cent higher than in 2022, while over 76,000 arrived on cruise ships - almost twice as many as pre-pandemic in 2019. Statistics from Visit Greenland show that in 2023, foreign tourism contributed revenue to Greenland of almost DKK 1.9 billion (€250 million). Not only that, but tourist arrivals directly accounted for over 1,000 jobs. While the new airport and Greenland's unique environment have the right recipe for tourism success, organisations are cautious about overstimulating the market. A pledge for sustainable tourism, signed in 2023, aligns increased tourism with direct benefits to local residents while maintaining important cultural connections. 'Among the tourism companies and organisations, there is a strong desire for a common and sustainable direction for tourism development,' says Visit Greenland's CEO, Anne Nivíka Grødem. 'That's why I am so encouraged that the tourism industry itself is setting clear direction with this pledge for sustainable tourism development that benefits all of Greenland.' In Nuuk, the municipality is collaborating with the tourism industry on increasing the number of hotel rooms by 50 per cent by the end of 2030, which will add 500 more beds. However, that won't happen quickly, and analysis by Visit Greenland suggests both Nuuk and Ilulissat could face a shortage of accommodation in the short term. What are the best things to do in Greenland? Greenland's wow factor comes from its untouched natural surroundings and uncrowded spaces. Like Iceland, its Arctic Circle location means there are vast opportunities for experiences that are hard to find elsewhere in the world. Greenland is marketing itself as an adventure tourism hotspot, and it's easy to see why. Icebergs the size of skyscrapers and ancient glaciers can be explored by boat or kayak. The Ilulissat Icefjord, a UNESCO World Heritage site, is one of Greenland's most iconic attractions, with massive icebergs calving off the Sermeq Kujalleq glacier. Greenland has perhaps the best 'dark sky' environment of anywhere, due to its minimal light pollution, vast, untouched landscapes, and clear skies. Its northerly location and long, dark winters make it one of the best places in the world to view the Aurora Borealis. Winter fun is year-round here, with dog sledding a popular pastime for visitors and locals alike. Sisimiut and Kangerlussuaq offer long, snow-covered trails ideal for sledding, while Tasiilaq in the east offers an authentic Innuit dog sled experience. Skiing and snowboarding are popular too, with heli-skiing an option for thrill seekers. There are opportunities to spot some of Greenland's diverse wildlife throughout the island, but the most popular excursions take visitors out to sea to view the giant whales in their natural environment. From Disko Bay and Nuuk, tourists can take a boat tour to view humpback whales, fin whales and even minke whales in the Arctic waters. Alongside this, there are numerous cultural and historical experiences to be found in Nuuk and other towns across the island, as well as infinite opportunities for hiking, wildlife watching, and simply relaxing. The unspoilt riches of Greenland are beginning to be discovered, and with easier connections than ever, it's sure to make its way onto many travellers' bucket lists in 2025.
