Tag Archives: A321200

Gulf Air restructures its future fleet with both Airbus and Boeing, orders more A320neo aircraft, reduces 787s on order to 12

Gulf Air (Bahrain) has made the following announcement today concerning its future fleet plans:

Bahrain’s National Carrier, Gulf Air is pleased to announce that after extensive negotiations with Airbus and Boeing – its two key suppliers of wide-body and narrow-body aircraft – it has signed amendment agreements with both aircraft manufacturers to realign its original orders to meet its long-term strategic needs.

During 2011 Gulf Air has engaged in extensive discussions with both airframe manufactures to renegotiate its order book. This has become necessary in light of the tough economic conditions faced by the global aviation industry recently including high-fuel prices and a slump in air traffic as well as the regional developments over the last fifteen months resulting in the forced suspension of a number of destinations impacting revenue.

The revised agreement with Airbus ultimately permits the conversion of the existing wide-body obligation into eight A320ceo Family aircraft, all of which will have be delivered by year-end, plus up to sixteen A320neo Family aircraft slated to join the airline’s fleet as replacement and/or growth for the current single-aisle fleet in the latter part of the decade.

The revised Boeing agreement, allows the airline to reduce its wide-body 787s Dreamliner requirement to 12 – 16 aircraft depending on Gulf Air’s strategic requirements. These aircraft are scheduled for delivery towards the end of the decade and will replace Gulf Air’s current wide-body fleet.

Gulf Air CEO, Mr. Samer Majali, said, “As long-standing trade partners, Airbus and Boeing have understood our challenges and I am delighted that we have arrived at mutually agreeable solutions in-line with the Government directive to put the airline firmly on a path towards sustainability. The revised orders reduce our long-term financial liability of approximately USD $5 billion by over 50% and the remaining liability more effectively meets Gulf Air’s future fleet replacement and/or growth requirement.”

Marty Bentrott, Boeing Commercial Airplanes’ vice president of sales for the Middle East, Russia and Central Asia said: “We appreciate the fact that as a commercial airline Gulf Air has to respond to the changing global aviation environment. The revised fleet requirement from Gulf Air reflects this and we are glad to have cooperated with Gulf Air to arrive at an amicable solution. Gulf Air remains a valued customer of the Boeing 787 Dreamliner and we look forward to continuing our strong partnership.”

Copyright Photo: Olivier Gregoire. Gulf Air is already a major Airbus operator. Airbus A321-231 A9C-CB (msn 5074) approaches Toulouse for landing.

Gulf Air:

EVA Air becomes a new Airbus A321 operator

EVA Air (Taipei) of Taiwan has become a new operator of Airbus single aisle aircraft following the delivery today (October 31) of its first A321. The aircraft is being leased from Aviation Capital Group (ACG) and is the first of 12 A321s ordered by the US lessor. The aircraft was handed over at a ceremony in Hamburg attended by Chang Kuo Wei, President of EVA Air.

EVA currently plans to introduce 12 leased A321s into its fleet between now and end-2014 for operation on regional routes. The airline has specified a high comfort two class layout for the aircraft seating 184 passengers. EVA’s A321 fleet will be powered by CFM International CFM56 engines.

EVA Air plans to introduce the new A321 on November 10 on the Taipei (Taoyuan)-Macau route according to Airline Route.

Copyright Photo: Gerd Beilfuss. The first, the pictured Airbus A321-211 D-AVZD (msn 5354) at Hamburg (Finkenwerder), became B-16201 at today’s handover.

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EVA Air:

Aegean Airlines to acquire rival Olympic Air from MIG for €72 million ($93.1 million)

Aegean Airlines (Athens) appears to be finally successful in acquiring rival Olympic Air (3rd) (Athens). Previously on February 22, 2010 the two Greek airlines announced they had agreed to merge. However on January 26, 2011 the European Commission rejected the merger due to anti-competitive concerns.

Now Aegean Airlines and the Marfin Investment Group, the owner of Olympic Air, have agreed to a buy-out by Aegean of Olympic Air for €72 million ($93.1 million). Initially the two airlines will be operated as separate brands and airlines but the deal is still subject to the same anti-competitive concerns of the European Commission.

Both airlines have been losing money, especially with the austerity measures and EU protests in Greece.

Aegean Airlines has issued the following statement:

Aegean Airlines and Marfin Investment Group agreed on October 22, 2012 on the sale of 100% of Olympic Air to Aegean.

Following the completion of the transaction, Olympic Air will become a subsidiary of the listed Aegean. The brand names and logos of the two companies will be maintained and each will have distinct aircraft and flight staff. The unification of administrative, planning, purchasing and commercial functions will lead to substantial economies of scale, in buying power and elimination of duplicate systems. Fleet usage and network planning will be optimized to improve efficiencies and connectivity while improving coverage and product offer.

The deal is subject to approval by the Competition Authorities, a process which will also determine the timing of its execution.

The consideration for 100% of Olympic Air has been set at €72 million with payment in installments to MIG by Aegean. The shareholding structure of Aegean is not affected by the transaction.

Theodoros Vassilakis, Chairman of Aegean Airlines, commented on the deal: “Aegean Airlines and Olympic Air in recent years have invested $2 billion in a brand new fleet. Their service quality has been recognized with the receipt of numerous industry Awards. The two companies contribute in excess of €270 million to the Greek state revenues in airport taxes, fees, social security contributions. However, our subscale size, combined with the effects of the unprecedented Greek crisis, restrict our ability to successfully compete within the European and Global Aviation market leading us to further losses and further reductions of size and scope. As a result we are faced with the immediate danger of Greek Tourism, an industry essential for the country’s recovery, becoming entirely dependent on foreign carriers with permanent losses in local employment and state revenues.

Aegean still possesses the financial reserves to lead the consolidation of aviation in Greece to the benefit of tourism and state revenues as well as our employees and shareholders. The synergies from this agreement will allow us to reduce unit costs and offer enhanced network coverage with competitive prices to the consumers. We hope that all Greeks will support us in this challenging, ambitious and necessary endeavor.”

Companies’ Profiles

Fleet October 2012

	AEGEAN	OLYMPIC AIR
A321	4
A320	22	5
A319	3	2
Airbus Α320 Family	29	7


Bombardier Q400	0	10
Bombardier Dash 8-100	0	4
Total	29	21

Routes (Scheduled network – Summer 2012)

	AEGEAN	OLYMPIC AIR
Domestic	19	38
International	51	7

Annual Financial Results FY 2011 (in million €)

	AEGEAN	OLYMPIC AIR
Revenue	668.2	240.5
Net losses after taxes	(27.2)	(37.6)

Passenger traffic 2012 (estimate in million passengers)

	AEGEAN	OLYMPIC AIR
Domestic	2.6	2.3
International	3.4	0.6
Total	6.0	2.9

Top Copyright Photo: Wingnut. Airbus A321-231 SX-DVO (msn 3462) is pictured on the ramp at London (Heathrow).

Aegean Airlines:

Olympic Air (3rd):

Bottom Copyright Photo: Ole Simon. Flybe’s Bombardier DHC-8-402 (Q400) G-JECV (msn 4148), operated for Olympic Air, arrives at Frankfurt.

Cyprus Airways expands with new domestic routes in Greece

Cyprus Airways (Larnaca) is adjusting its route map. On October 28 the flag carrier of Cyprus dropped all service to Milan (Malpensa) and Vienna and instead expanded domestic operations in neighboring Greece. Following the successful launch of the Athens-Thessaloniki route, the airline decided to expand operations in Greece on the following new routes:

• Athens-Heraklion, two daily flights.

• Athens-Rhodes one daily flight.

• Rhodes-Heraklion four flights a week.

• Athens – Thessaloniki now three flights daily (instead of two).

• Heraklion-Rhodes, four weekly flights (instead of three).

Cyprus Airways believes it has now built a long-term relationship in Greece. The airline has served the Greek market since its inception in 1947 from Cyprus.

Copyright Photo: Michael B. Ing. The airline added its first Airbus A321 (the pictured 5B-DCO) on June 14, 2012. A321-231 5B-DCO (msn 2730) prepares to land at London (Heathrow).

Cyprus Airways:

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Finnair narrows its second quarter loss to $24.4 million

Finnair (Helsinki) narrowed its second quarter loss to $24.4 million.

Read the full story in the Washington Post: CLICK HERE

Copyright Photo: Wingnut. Finnair’s Airbus A321-211 OH-LZD (msn 1241) taxies at London (Heathrow) in the updated 2010 livery.

Finnair:

TUI Travel posts a fiscal third quarter operating profit of $115.3 million

TUI Travel (London) posted a fiscal third quarter (ending on June 30) operating profit of $115.3 million.

Read the full report from the group: CLICK HERE

TUI travel is the parent organization of Arkefly, Corsair, Jet4you, Jetairfly, Thomson Airways, TUIfly, TUIfly Nordic and the pictured new associated TUI Russia.

Copyright Photo: Paul Denton. TUI Russia (Moscow-Domodedovo) is a new joint venture of TUI AG (Hannover) and Russian investment company S-Group Capital Management, created on April 15, 2009. Kolavia (Surgut) is operatating three Airbus A321s under the TUI brand and the MetroJet (Russia) name. Operations commenced on July 3, 2012 from Moscow (Domodedovo) to Egypt (Hurghada, Sharm el-Sheikh), Spain (Barcelona, Palma de Mallorca, Ibiza), Croatia (Pula), Montenegro, Bulgaria (Varna, Bourgas), Greece (Heraklion, Rhodes) and Turkey (Antalya, Bodrum, Dalaman). A321-231 EI-ETJ is pictured arriving at Antalya using the colors of the Russian flag.

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