Posts tagged ‘China Eastern Airlines’

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04/11/2015

Prepare for Takeoff: China Rolls Out First Large Passenger Jet – China Real Time Report – WSJ

China’s first large passenger jet rolled off the assembly line on Monday after years of delays, bringing Beijing’s dream of developing a rival to Boeing Co. and Airbus Group SE closer to reality.

As WSJ’s Chun Han Wong reports: Still, the single-aisle C919 airliner won’t be delivered to airlines for at least another three years, highlighting the difficulties

China has faced in becoming a global player in aviation. Developed by the state-run Commercial Aircraft Corp. of China Ltd. (Comac), the twin-engine jet was initially set for its first flight in 2014, ahead of commercial deliveries starting in 2016. Production setbacks forced Comac to extend its deadlines repeatedly. Company executives say flight testing should start next year, with deliveries expected in 2018 or 2019 at the earliest.

Thousands of guests, including government officials and aerospace executives, witnessed the C919’s rollout at an assembly plant near Shanghai’s Pudong International Airport, according to Chinese state media.

Source: Prepare for Takeoff: China Rolls Out First Large Passenger Jet – China Real Time Report – WSJ

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01/08/2015

China’s Bohai bids $2.6 billion for aircraft leasing firm Avolon | Reuters

China’s Bohai Leasing Co Ltd 000415.SZ has offered to buy Irish rival Avolon (AVOL.N) for $2.55 billion, a 55 percent premium over its December initial public offering, the Irish firm said on Friday.

Traders gather for the IPO of Avolon Holdings Ltd. on the floor of the New York Stock Exchange December 12, 2014. REUTERS/Brendan McDermid

Avolon said it was considering Bohai’s $31 per share offer and a rival $30 per share bid from an unidentified bidder and was in contact with both parties.

Shares in U.S.-listed Avolon opened up 20 percent on Friday at $29.8, before falling back to $28, compared to a price of $20 when it listed in December.

Bohai, a unit of aviation and shipping conglomerate HNA Group, earlier this month offered to buy 20 percent of Avolon for $429 million at $26 per share, an offer that is now being put to shareholders.

But it offered to buy the whole company when it was informed of the third party bid.

“Avolon’s Board of Directors has not accepted or rejected either offer and continues to carefully evaluate these … and has authorized its financial advisors to continue negotiations with both,” Avolon said in a statement.

The purchase would boost HNA’s access to a global aircraft leasing market dominated by GE Capital and AerCap Holdings NV (AER.N).

Chinese lessors, mostly backed by state-owned banks, have been expanding in recent years as large carriers such as Hainan Airlines Co Ltd (600221.SS), Air China Ltd (0753.HK), China Eastern Airlines Corp Ltd (0670.HK) and China Southern Airlines Co Ltd (1055.HK) opened more routes at home and overseas.

Ahead of Avolon’s IPO, China Investment Corp (CIC) and AVIC Capital Co Ltd (600705.SS) were in talks to acquire Avolon.

Avolon, which was founded by leasing entrepreneurs Domhnal Slattery and John Higgins in 2010, owns or managed 152 aircraft at the end of June and had over 100 more on order.

via China’s Bohai bids $2.6 billion for aircraft leasing firm Avolon | Reuters.

Posted in acquisition, aviation, China alert, Economics, Transport | Leave a Comment »

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06/02/2015

Record spending spurs race by governments for Chinese tourist dollars | Reuters

Embassies are re-writing visa rules and governments are hammering out aviation pacts as record spending by Chinese travelers sets off a race around the world for a share of the Chinese tourist dollar.

Chinese spending on international travel in 2014 rose to $165 billion from $129 billion in 2013, the biggest percentage increase in two years, according to data released by the State Administration of Foreign Exchange last week.

Chinese disposable incomes have been steadily rising and would-be travelers got an additional boost in the past year from favorable foreign exchange rates, with the yuan appreciating more than 10 percent against the yen and the Australian dollar. The gains versus the euro have been even greater, at more than 14 percent, and the yuan set a record against the single currency last month.

Governments near and far are keen to get their countries onto Chinese itineraries. In November, the United States signed a landmark deal with China extending one-year visas issued to Chinese travelers to up to a decade. This year Malaysia and Indonesia are planning visa exemptions, while Thailand is considering exempting visa fees, which were briefly suspended last year. Australia in January signed an agreement with China allowing more passenger flights from Beijing, Shanghai and Guangzhou with immediate effect.

Air traffic data for China’s big airlines confirms a rising preference for overseas travel in the world’s most populous nation. Air China’s international routes recorded 14.6 percent growth in 2014 in revenue passenger kilometers (RPKs), a gauge of traffic, versus 6.1 percent for domestic routes, Reuters calculations show. China Southern Airlines‘ international RPK growth was 20.2 percent versus 10.0 percent domestically. China Eastern Airlines posted international RPK growth of 4.4 percent.

via Record spending spurs race by governments for Chinese tourist dollars | Reuters.

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31/01/2014

Chinese man used first-class airline ticket to get free meals in airport’s VIP lounge for almost a year

Man should get a prize for enterprize!

“Man used first-class airline ticket to get free meals in airport’s VIP lounge for almost a year

A man bought a first-class ticket and used it to have free meals and drinks at an airport’s VIP lounge almost every day for nearly a year.

The itinerary for the ticket was found to have been changed more than 300 times within a year, and the owner of the ticket used it to enjoy the facilities at the airport’s VIP lounge in Xi’an in Shaanxi, China.

The case was discovered by a China Eastern Airlines staff member, who then decided to investigate.

When the ticket’s validity was almost up, the passenger cancelled it for a refund. An airline spokesman said there were no means to stop this act, even if it was done on purpose.”

via Nothing To Do With Arbroath: Man used first-class airline ticket to get free meals in airport’s VIP lounge for almost a year.

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27/05/2013

* Gutter oil to be used as auto fuel

China Daily: “Authorities aim to keep waste from returning to the kitchen

Gutter oil to be used as auto fuel

Processed gutter oil is expected to be used as bus fuel within two years in Shanghai, as part of efforts to advance a circular economy and prevent recycled cooking oil from returning to the kitchen.

A China Eastern Airlines ground crew fills an airliner with biofuel made from gutter oil and palm oil at Shanghai Hongqiao International Airport on April 14. The Airbus A320 succesfully made a one-and-a-half hour test flight with the fuel. CHEN FEI / XINHUA

The Shanghai Municipal Food Safety Committee will cooperate with Tongji University and six businesses that process used cooking oil into biodiesel that can power vehicles, said Yan Zuqiang, the committee’s director, in an interview with a local news portal on Saturday.

Owing to the comparatively high cost of transforming recycled cooking oil to vehicle diesel, those who use the oil will receive subsidies, he said.

Lou Diming, a professor at Tongji’s School of Automotive Studies who has led the study for the past three years, said after many experiments it is now the right time to turn the application of recycled cooking oil for vehicles into a reality.

His team has experimented with using mixed diesel fuel on more than 300 taxis, buses and lorries.

A regulation regarding the proper disposal of waste oil, including a clarification of the qualifications of oil collectors, came into effect in Shanghai in March.

The municipality leads the country in supervising the collection of waste oil, and at least 90 percent of its oil has been recycled appropriately, according to Yan.”

via Gutter oil to be used as auto fuel |Society |chinadaily.com.cn.

See also: https://chindia-alert.org/economic-factors/greening-of-china/

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