Aviation

First A320neo assembled in Tianjin delivered to AirAsia

Tianjin, 25^th October 2017 – AirAsia has taken delivery of the first A320neo assembled at the Airbus Final Assembly Line Asia (FALA) at a dedicated ceremony in Tianjin, China. The aircraft, powered by CFM LEAP-1A engines, seats comfortably 186 passengers and is equipped with the innovative Space-Flex cabin.

AirAsia is the largest airline customer of the A320 Family with orders for 578 aircraft. These include 404 A320neo Family aircraft.

Aireen Omar, AirAsia Berhad Chief Executive Officer said, “We are very proud to receive the first Airbus A320neo fully assembled in Tianjin, China and we would like to congratulate Airbus, as well as the Chinese Government for achieving yet another milestone.”

“China is today one of the world’s most important markets for aviation, and we are honoured to be part of the development and rapid growth of China’s civil aviation. We are certainly proud to take delivery of this aircraft fully assembled in Tianjin and have this historic aircraft as part of our fleet.”

“The Airbus A320 aircraft has contributed immensely towards our business model and our operations. We received our first A320neo last year and this is our thirteenth Airbus A320neo that we are receiving for the group, which is also the 184th aircraft delivered by Airbus. As we expand our network and grow our fleet, it is important for us to stay at the forefront of our business. We are very pleased with the A320neo, which provides up to 15 percent fuel savings and an additional range of 500 nautical miles, which translates to a lower fares for our guests,” she added.

“I am very pleased to hand over the first A320neo to be assembled in Tianjin to AirAsia. AirAsia will continue to benefit from the unique commonality between all variants of the Airbus Family and enjoy efficiencies throughout its existing fleet,” said Eric Chen, President of Airbus Commercial Aircraft China. “The delivery of the NEO is a milestone for our Asia Final Assembly Line, which will help to meet the robust demand of our customers in China and the Asia-Pacific region.”

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.