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.

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Airlines

Air India Rolls Out A350s for Delhi-New York JFK and Newark Routes

In a major development for North American travelers, Air India has announced the deployment of its state-of-the-art Airbus A350-900 aircraft on two key routes: Delhi to New York and Delhi to Newark.

The service on the Delhi-New York route will commence on November 1, 2024, while the Delhi-Newark route will see its inaugural flight on January 2, 2025.

The introduction of the air india a350 will bring significant enhancements to Air India’s offerings, particularly with the launch of its Premium Economy class. air india retrofit This new class will feature 24 wide seats arranged in a 2-4-2 configuration, providing passengers with extra legroom and a more comfortable flying experience.

Soon, Air India aircraft will feature onboard WiFi & all-new cabins: Click here

“We are encouraged by the positive guest feedback we have received from the domestic deployment of our air india a350 interior to offer our hero product on the Delhi-New York JFK and Delhi-Newark routes. This is a significant leap forward for our U.S. operations that also underscores our commitment to continuous improvement,” said Campbell Wilson, Chief Executive Officer & Managing Director of Air India.

The A350’s Business class will set new standards with 28 private suites, each equipped with full-flat beds, direct aisle access, and personal wardrobes. Economy class will be configured to accommodate 264 passengers in a 3-4-3 layout. Across all cabins, passengers will enjoy the latest Panasonic eX3 in-flight entertainment system, offering over 2,200 hours of content.

Air India’s First A350-900: Interior, Routes, &Inflight Features: Click here

This strategic deployment marks a notable enhancement in Air India’s U.S. operations, with 60% of its flights to the U.S. now featuring new or upgraded cabin interiors. The air india new international routes currently operates 51 weekly flights to five U.S. destinations: New York JFK, Newark, Washington DC, Chicago, and San Francisco.

The revamped cabins, advanced in-flight entertainment systems, and improved service standards represent air india wifi commitment to providing a superior travel experience. “We believe this enhanced offering will solidify Air India’s position as a leading carrier and attract travellers seeking a world-class flying experience between India and the United States,” the airline stated.

Seats on these flights are now available for booking on Air India’s website, mobile app, and through travel agents, ensuring that passengers can easily plan their journeys on these newly upgraded routes.