AirAsia inks US$12.25b Airbus deal to add 70 long-range jets
He said the low-cost carrier inked a memorandum of understanding (MOU) with Airbus in Paris today for 50 A321XLRs with rights for 20 A321XLRs, the new fleet of which is targeted to serve Central Asia, the Middle East, and Europe, among others.
'This will probably make us one of the...
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Malaysia Sun
7 hours ago
- Malaysia Sun
Malaysia's airlines acquire new aircraft for expansions
KUALA LUMPUR, July 5 (Xinhua) -- Malaysia's airlines, including Malaysia Airlines and low-cost budget airline AirAsia, announced Saturday that they are acquiring new aircraft to support their expansions. Malaysia Aviation Group (MAG), the parent company of Malaysia Airlines, said in a statement that it has exercised its purchase rights for 20 additional A330neo aircraft through a direct order with Airbus, reaffirming its commitment to a long-term strategy for fleet renewal and network development. With this latest acquisition, Malaysia Airlines is set to become one of the largest A330neo operators in the Asia-Pacific region, said the statement. This new order builds on MAG's initial commitment in 2022 for 20 A330neo aircraft, comprising 10 directly purchased and 10 leased from Ireland-based lessor Avolon, bringing the group's total A330neo commitment to 40 aircraft to date. Deliveries from this additional batch are scheduled between 2029 and 2031. To date, MAG has taken delivery of four A330neo aircraft, currently operating on selected services to Auckland, Melbourne, and Bali. Six more are scheduled for delivery by the end of the year, with the remaining aircraft from the original order set to arrive progressively through to 2028. Meanwhile, AirAsia, a wholly-owned subsidiary of Capital A Berhad, said in a statement that it has signed a landmark agreement with Airbus valued at 12.25 billion U.S. dollars for 50 A321XLRs with rights for 20 A321XLRs. The aircraft are scheduled for delivery commencing in 2028 through 2032. AirAsia Group aims to carry 150 million guests annually by 2030, reaching a cumulative total of 1.5 billion guests since inception, according to the statement.
The Star
11 hours ago
- The Star
M'sia to prioritise neutrality, strategic hedging at Asean Foreign Ministers' Meeting
KUALA LUMPUR: The 58th Asean Foreign Ministers' Meeting (AMM) and related meetings are set to convene here next week, with maritime disputes, economic headwinds including impending US tariffs, and shifting global dynamics expected to dominate the agenda. Against this complex global geopolitical backdrop and intensifying US-China rivalry in the South China Sea, Malaysia, as chair, is expected to adopt a neutral yet proactive stance in leading the regional bloc to foster constructive engagement with its external partners for peace and stability across the Indo-Pacific. ALSO READ: Road closures in stages for 58th Asean Foreign Ministers' Meeting, says Bukit Aman International relations and defence expert Dr Nor Aishah Hanifa said Malaysia's leadership in Asean would prioritise peace, stability, and the rule of law in navigating major power competition in the Indo-Pacific. "The 46th Asean Summit reaffirmed the region's commitment to a peaceful resolution of disputes in the South China Sea. "All leaders emphasised maximum restraint and the importance of upholding the 2002 Declaration on the Conduct of Parties (DOC)," the Universiti Pertahanan Nasional Malaysia (UPNM) senior lecturer told Bernama. ALSO READ: Over 5,000 police personnel on duty for Asean Foreign Ministers' Meeting from July 8 to 11 Nor Aishah said Malaysia, as Asean Chair, would maintain good relations with both the United States and China, its key trading partners, while pursuing a hedging strategy to safeguard sovereignty and mitigate risks associated with geopolitical uncertainty. She said Prime Minister Datuk Seri Anwar Ibrahim's active foreign engagements reflect Malaysia's broader strategy to diversify economic ties and reduce reliance on any single major power. "Malaysia is a middle power. Hedging allows us to balance both sides and pursue our national interests without aligning too closely with either major power," she said, adding that such a strategy remains vital in today's volatile international system. She said that amid ongoing maritime tensions, Malaysia would continue diplomatic engagement with China and advocate for the speedy implementation of a legally binding Code of Conduct (COC) in the South China Sea. ALSO READ: How Asean can thrive through innovation and collaboration "Malaysia's tone will remain diplomatic, aiming to avoid escalation," she said. On the potential outcome of the 58th AMM, she said Malaysia and fellow Asean members were in a unique position to persuade China towards a more concrete COC, especially as economic headwinds prompt Beijing to deepen trade ties with the region. "China's economic situation, coupled with the need for stable trade channels, presents an opportunity for Asean to gain traction on the COC. The regional structure right now offers a window for diplomacy," she said. In terms of broader engagements with Dialogue Partners, including the US, China, the United Kingdom (UK), and the European Union (EU), Nor Aishah noted that economic cooperation remains the cornerstone of Asean's external relations, though the focus may vary by partner. "The UK, for instance, is seeking to expand its free trade footprint in the region and has programmes like the Asean-UK Economic Integration Programme and STEM scholarships. With the EU, there's potential to advance a region-to-region FTA (free trade agreement)," she said. ALSO READ: Indonesian FM to attend Asean meetings in Kuala Lumpur Meanwhile, Universiti Putra Malaysia (UPM) Human Ecology Faculty senior lecturer Dr Fairuzzaman Shaharuddin also highlighted that security and economic issues are expected to dominate discussions at the 58th AMM, with Malaysia likely to emphasise strategic autonomy while strengthening cooperation in areas such as supply chains, sustainability, and regional security frameworks. Fairuzzaman said Asean's engagement with countries such as the US, China, UK, and EU will be "multi-dimensional" that reflect the shifting dynamics in the Indo-Pacific and global economy. He said the US and China are expected to compete for influence, particularly in the South China Sea, while the UK and EU will likely promote trade, a rules-based international order, and sustainable development goals. "With growing geopolitical tensions and economic uncertainties, for instance, the Iran-Israel conflict and Trump's 'reciprocal tariffs', Asean is likely to discuss supply chain resilience, the green transition, the digital economy and regional security frameworks. "Despite many interests, I believe maintaining strategic autonomy while deepening functional cooperation will be key for Asean to achieve centrality, (in line with) Malaysia's vision in Asean Vision 2045," he told Bernama. Addressing broader regional tensions, Fairuzzaman said Malaysia's longstanding military cooperation with the US and deep economic ties with China have drawn increasing interest from scholars and analysts, who view this approach as a form of 'strategic hedging', aimed at managing risks between the competing superpowers. This strategy, he said, aligns with Malaysia's non-aligned foreign policy, which prioritises economic cooperation, regional stability, and defence diplomacy to navigate shifting geopolitical dynamics in the Indo-Pacific. Malaysia will host the 58th AMM and related meetings from July 8 to 11, with a total of 24 meetings at the Asean Foreign Ministers' level to be convened, including a series of meetings with Asean Dialogue Partners and Sectoral Dialogue Partners. More than 35 foreign ministers and representatives from various international bodies are expected to attend the meetings. - Bernama
Malaysia Sun
13 hours ago
- Malaysia Sun
Modi will 'meekly bow' to Trump tariff deadline: Rahul Gandhi takes dig at Piyush Goyal's 'Do not make deals based on deadlines or time pressure'
New Delhi [India], July 5 (ANI): A day after Union Minister Piyush Goyal categorically stated that 'India never enters into trade deals based on deadlines or time pressure', Leader of Opposition in the Lok Sabha Rahul Gandhi on Saturday asserted that Prime Minister Narendra Modi will 'meekly bow' to theTrump tariff deadlines, referring to the India-US trade deal. Rahul Gandhi referenced a media report and wrote on X, 'Piyush Goyal can beat his chest all he wants, mark my words, Modi will meekly bow to the Trump tariff deadline.' Commerce and Industry Minister Piyush Goyal on Friday emphasised that India will only enter into trade agreements, including the proposed US Bilateral Trade Agreement (BTA), when they serve the country's national interests and offer mutual benefits. Speaking on the sidelines of the 16th Toy Biz B2B expo in New Delhi, Goyal made it clear that India's approach to international trade negotiations remains firm and principled. 'It should be a win-win agreement, and only when India's interests are safeguarded -- national interest will always be supreme -- and keeping that in mind, if a good deal is formed, India is always ready to engage with developed countries,' the minister stated. Goyal emphasised that India negotiates on its own minister revealed that India is currently engaged in trade discussions with multiple countries across different continents. 'Discussions are ongoing with various countries -- be it the European Union, New Zealand, Oman, the US, Chile, or Peru. Talks about agreements are underway with many nations,' he said. However, Goyal stressed that the multiplicity of negotiations does not mean India is in a rush to conclude deals. 'A Free Trade Agreement is only possible when there is mutual benefit,' he explained. 'India never enters into trade deals based on deadlines or time pressure. A deal is accepted only when it is fully matured, well-negotiated, and in the national interest,' Goyal stated. This approach reflects India's confidence in its negotiating position and its commitment to securing favourable terms for its economy and businesses. At the toy expo, Goyal expressed optimism about the growth potential of India's toy manufacturing sector, highlighting both domestic and international opportunities. 'I am sure with the high quality goods I am seeing here, they will all be finding good market with the whole gulf region all the 6 countries of the Middle East as they are today finding in nearly 153 countries in the world,' the minister said, praising the quality of Indian toy products. Goyal announced that the government is preparing additional support measures for the sector. 'We will soon be coming out also with the support program and incentive scheme to support the toy industry,' he revealed. The minister highlighted the enormous domestic market potential for toys in India, noting the country's demographic advantage. 'Considering that we have a market of 1.4 billion Indians who would like to use toys. At every age, there is a demand of toys,' Goyal observed. He characterized the toy industry as 'a growing sector which have eyes on the world,' indicating the government's confidence in the sector's export potential alongside domestic consumption. (ANI)
