All articles tagged with #aviation market
US airlines and unions are urging the Biden administration to halt the approval of additional flights between the US and China due to what they perceive as unfair and anti-competitive policies imposed by China on American carriers. They argue that China's restrictions and advantages given to its own airlines put US carriers at a disadvantage, leading to potential loss of flights to Chinese airlines.
US airlines and their unions are urging the Biden administration to halt the approval of additional flights between the US and China due to what they perceive as unfair and anti-competitive policies imposed by China on American carriers. They argue that China's restrictions and advantages given to its own airlines put US carriers at a disadvantage, leading to potential loss of flights to Chinese airlines.
India's Akasa Air has placed an order for 150 Boeing 737 MAX narrowbody planes as it aims to expand its operations beyond domestic routes and tap into the country's fast-growing aviation market. The order, announced at the "Wings India" air show in Hyderabad, excludes the MAX 9 version, which has faced grounding issues. With this move, Akasa Air seeks to compete with larger rivals like IndiGo and Tata Group airlines, which currently dominate the market.
Vietnam Airlines is expected to sign an initial agreement to purchase around 50 Boeing 737 Max jets in a deal valued at approximately $7.5 billion. The deal, which confirms a previous Reuters report, coincides with U.S. President Joe Biden's visit to Hanoi to strengthen ties. The agreement, worth up to $7 billion at list prices, comes as Vietnam aims to expand its aviation market, which is predicted to serve 150 million passengers by 2035. Boeing's 737 Max jets were grounded globally following two fatal crashes in 2018 and 2019. Vietnam Airlines recorded a net loss in Q2 2022, citing rising fuel prices and other financial risks.
Boeing has appointed Alvin Liu as the new head of its China unit, as the aircraft maker faces challenges in the crucial Chinese aviation market due to geopolitical and trade tensions. Liu, a Chinese-born representative recently hired from the auto industry, will take over from Sherry Carbary, who stepped down in July. Liu's appointment is seen as a strategic move to rebuild ties with China, as he has experience working with the country's civil aviation authorities and is physically present in China.
Airbus has secured a record-breaking order for 500 narrowbody jets from Indian budget carrier IndiGo, the largest ever by number of aircraft. The deal follows months of negotiations and is worth billions of dollars. The aircraft will be delivered between 2030 and 2035. Indian carriers now have the second-largest order book, with an over 6% share of the industry backlog, behind only the United States.
Airbus is close to securing a deal to sell 500 A320 narrow-body planes to IndiGo, which would be the largest order ever by volume. The deal is not yet finalized, but Airbus is the current frontrunner. IndiGo is already an exclusive buyer of narrow-body jets from Airbus, but was also considering Boeing 737 Max for its potentially historic order. India is the world's fastest growing aviation market and is predicted to need about 2,210 new airplanes over the next two decades, with single-aisle jets comprising 90% of that.
India's Minister of Civil Aviation, Jyotiraditya Scindia, has stated that he is not looking to increase passenger quotas with Gulf states, but rather is requesting that Indian airlines increase their international service. With Air India now having been privatized, and placing one of the largest aircraft orders in history, Scindia sees this as the ideal opportunity for India to recapture international passenger demand. However, restricting capacity ultimately leads to higher fares and less consumer choice.