Aviation
China’s top 3 airlines will purchase nearly 300 Airbus A320neo aircraft.
China has placed the largest order for Airbus aircraft in their nation, as many other nations have regulated the operations since the COVID dropping of cases. China is coming up with the substantial requirement ahead of the years.
Airbus had previously predicted that the region of China will experience a large demand for aircraft.
It is now obvious that the Chinese aviation industry is recovering and has a promising future after Airbus announced the signing of deals with Air China, China Eastern, China Southern, and Shenzhen Airlines for a total of 292 A320 Family aircraft. Once the relevant criteria are met, these orders will enter the backlog.
“These new orders demonstrate the strong confidence in Airbus from our customers. It is also a solid endorsement from our airline customers in China of the performance, quality, fuel efficiency and sustainability of the world’s leading family of single aisle aircraft.” said Christian Scherer, Airbus Chief Commercial Officer and Head of International.
“We commend the excellent work by George Xu and the entire Airbus China team as well as our customers’ teams for having brought to conclusion these long and extensive discussions that have taken place throughout the difficult COVID pandemic.”
Over 2,070 Airbus aircraft would be in service with Chinese carriers by the end of May 2022.
The latest generation engines and Sharklets used in the A320neo Family jointly save at least 20% more fuel and CO2 while reducing noise by 50%.
The Airbus 18-inch wide seats in economy are a basic feature of the A320neo Family, which provides unrivalled comfort in all classes.
More than 8,000 orders for the A320neo Family from more than 130 customers were in total as of May 2022. Airbus has delivered more than 2,200 A320neo Family aircraft since its Entry Into Service six years ago, reducing 15 million tonnes of CO2 in the process.
2,259 A320neo family aircraft with 127 operators were in operation as of May 2022, 85 of which use CFM engines and 42 of which use PW engines. The top five airlines by number of aircraft operated were IndiGo with 207, China Southern Airlines with 94, Frontier Airlines with 77, China Eastern Airlines with 72, and easyJet with 58. As of May 2022, there have been no accidents involving hull loss or fatalities in the A320neo series.
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The Airbus A320neo family of narrow-body aircraft is a development of the original Airbus A320 family. Based on the earlier A319, A320, and A321 (improved variation), which was dubbed A320ceo, for “current engine option,” the A320neo family (neo for “new engine option”) was created.
More than 5.51 million flights over 11 million block hours had been performed without a mishap by the A320neo fleet worldwide.
Deliveries will occur between 2023 and 2027, with the majority anticipated in 2024. According to available tonne kilometres (ATK), Air China estimated its acquisition would result in a 10.4% increase in capacity, while China Southern predicted a 13% rise.
In separate stock exchange filings, Air China and China Southern Airlines announced that they will each purchase 96 aircraft from the A320neo family, valued at $12.2 billion at list prices. It was announced that China Eastern Airlines would spend $12.8 billion to purchase 100 of the same type of aircraft.
Aviation
No More Jet Airways. Supreme Court Says “No Choice”, Orders Liquidation
Jet Airways was once one of India’s leading airlines, known for its service and extensive network. Founded in 1993, it served millions of passengers, connecting cities across India and international destinations.
However, since grounding its flights in April 2019, Jet Airways has struggled to navigate financial turbulence, leading to years of efforts to revive the airline and return it to the skies.
On Thursday, the Supreme Court ordered the liquidation of Jet Airways, citing “no choice” but to take this decisive step after the resolution plan failed to meet creditor obligations. The court invoked its extraordinary powers under Article 142, which allows it to make orders for “complete justice” in any case, overriding previous tribunal rulings.
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The Jalan-Kalrock Consortium (JKC), which had won the bid to revive Jet, faced criticism for not fulfilling payment commitments to creditors, which included major banks like the State Bank of India and Punjab National Bank.
The Supreme Court’s ruling pointed to “peculiar and alarming” issues surrounding the resolution plan’s implementation, leading to its conclusion that liquidation was the only feasible outcome.
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Chief Justice DY Chandrachud, alongside Justices JB Pardiwala and Manoj Misra, emphasized that while liquidation should be a last resort, it was necessary as the resolution plan was “no longer capable of implementation.”
In line with this decision, the court ordered that the ₹200 crore already infused by JKC be forfeited and directed the National Company Law Appellate Tribunal (NCLAT) in Mumbai to appoint a liquidator to oversee the process.
JKC, a partnership between Murari Jalan, a UAE-based Indian entrepreneur, and Florian Fritsch, a Jet shareholder through Kalrock Capital Partners Limited, had taken ownership of Jet Airways two years after it was grounded. The consortium’s inability to fulfill its financial obligations has now led to this final verdict, marking the end of an era for Jet Airways in India.
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