Airlines

China Southern to raise over $2.8 billion to fund new aircraft purchase

In a filing with the Shanghai Stock Exchange on May 31, China Southern Airlines stated that it intended to raise up to CNY17.5 billion yuan (USD2.46 billion) through a private placement of shares, with some of the funds going towards the purchase of fifty A320neo aircraft.

The state-owned airline will receive CNY5.25 billion (USD740 million) of the above amount for supplemental working capital, while CNY12.25 billion (USD1.72 billion) would be utilized to “introduce” the fifty new twinjets. The company “will adjust the funds that are raised” if the actual amount raised after expenses is less than the entire anticipated investment.

The Guangzhou-based airline announced on the same day that it is prepared to offer CNY17.5 billion (USD2.5 billion) in new Shanghai shares and HKD2.9 billion (USD370 million) in new Hong Kong shares to chosen investors.

China Southern Airlines orders 20 Airbus A350 XWBs(Opens in a new browser tab)

A private placement, in which additional stock is offered to certain investors to generate money, reduces the number of outstanding shares of a listed firm, frequently resulting in a temporary drop in the stock price.

According to China Southern, over CNY12.3 billion from the Shanghai share sale will be utilized to purchase 50 aircraft from the Airbus A320 Neo family, with the remaining funds being used to increase working capital. The funding for the general operations of the company will now include the profits from the Hong Kong private placement.

According to China Southern, Airbus A320 Neo aircraft are among the most popular short- and medium-haul airplanes in the world. According to the catalog pricing on the European aircraft manufacturer’s website, which is dated January 2020, the 50 aircraft will cost approximately USD 6.4 billion.

source:

Airlines

Virgin Australia Launches Black Friday Sale on Flights Worldwide

Virgin Australia has launched its much-anticipated 2024 Black Friday sale, offering unbeatable deals on both domestic and international flights.

With fares starting at just $49 for one-way domestic flights and return fares to New Zealand as low as $405, this is a fantastic opportunity for travelers to save big. The sale is available for bookings made between November 28 and December 5, with travel dates ranging from January 6 to September 18, 2024.

Whether you’re looking to explore Australia or venture abroad, these discounts cover Virgin Australia’s entire network.

Tejas and C-390 Millennium: India and Brazil’s Defense Trade Vision

For domestic travel, Virgin Australia is offering one-way flights starting at $49, with the cheapest route being Sydney to Ballina Byron. Other attractive domestic deals include flights from Sydney to Gold Coast from $65, Melbourne to Hobart from $85, and Brisbane to Prosperine from $79.

Additionally, flights to iconic Australian destinations like Hamilton Island, Uluru, and the Whitsundays are available at significantly reduced prices, providing excellent options for those looking to explore more of the country.

International travelers can also take advantage of great offers, with return flights to popular destinations like New Zealand, Bali, and Fiji. Notable international deals include return flights from Sydney to Queenstown (New Zealand) for $435, Melbourne to Denpasar (Bali) for $589, and Brisbane to Port Vila (Vanuatu) for $499. These discounts offer an excellent chance to visit exotic locales without breaking the bank.

This international airline is offering free flight tickets to Indian travelers

Virgin Australia’s sale covers a wide range of routes from major cities across Australia. For example, from Sydney, you can fly to Melbourne for just $89, Adelaide for $119, and Perth for $209 one-way. Melbourne residents can take advantage of flights to Brisbane from $119, Darwin from $205, and Nadi (Fiji) from $599 return.

Brisbane-based travelers can book one-way flights to Hamilton Island from $109 or to Apia (Samoa) from $689 return, while Perth residents can enjoy flights to Broome for $179 and Darwin for $219 one-way.

The sale also includes affordable fares from Adelaide, Hobart, and Darwin. Adelaide to Gold Coast is available from $109, while Hobart to Melbourne is priced at $85 one-way. In Darwin, flights to Adelaide start from $139, and one-way flights to Melbourne are available from $205.

Virgin Australia’s Black Friday sale began at midnight on November 28 and runs until 11:59 PM on December 5. Travelers can book flights for travel between January 6 and September 18, 2024, ensuring plenty of options for future trips. Whether you’re planning a domestic getaway or an international adventure, these limited-time offers make now the perfect time to book your next flight.