Latest news with #Airbus320neo
Calgary Herald
23-06-2025
- Business
- Calgary Herald
'Prime location': New aviation hub lands at Calgary International Airport
A hub for aviation technology and infrastructure at Calgary's airport is targeting world-class support services and training for the industry. Article content Formation of the hub, called YYC AeroNex, comes as labour shortages are expected in Canada's aviation sector over the next decade, brought on by industry growth and an aging workforce. Article content Making up a portion of hundreds of millions in new investment into the Calgary International Airport, the YYC AeroNex hub will keep more components of the aviation industry in the city. Article content Article content 'We're not having to send these engines thousands of miles away, waiting months and months for them to come back . . . the turnaround times are a lot quicker,' Bachart told Postmedia on Monday. Article content Calgary Airports is responsible for the management, development, and operation of the Calgary International Airport and Springbank Airport. Article content YYC AeroNex will include four major projects, of which three have yet to be announced. A total of $344 million will be contributed to the program, with funding split between the Canada Infrastructure Bank and loans from commercial banks. Article content Article content Article content A groundbreaking ceremony is scheduled for Wednesday for the Lufthansa project, which is expected to open in 2027. Article content Once complete, it will provide maintenance, repair and overhaul services, and serve as a test facility for Leap 1A and 1B engines for Boeing 737 MAX and Airbus 320neo aircraft.
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Business Standard
03-06-2025
- Business
- Business Standard
HK Express airfares fall amid rising competition, aircraft issues: CEO
An accelerating fall in the price of air tickets from recent high levels is the biggest challenge at Cathay Pacific's budget arm HK Express, its CEO said, as competition rises after a third runway opened at Hong Kong's airport. Many airlines, including HK Express and its low-cost rivals, are capitalising on the third runway that opened in November to add more flights, CEO Jeanette Mao told reporters on the sidelines of the IATA annual meeting in New Delhi. HK Express was the world's fastest-growing airline last year, with flight frequencies up 46 per cent from 2023 according to aviation data firm OAG, and it expects to grow by more than 30 per cent this year, according to Mao. "But of course such aggressive growth in the supply also added pressure on the yield side," she said. HK Express annual yield, a proxy for airfares, fell 23 per cent year-on-year in 2024, mainly due to intense price competition on regional routes pushing airfares down. Yields at Cathay Pacific's full-service airline were down 12 per cent. Airfares in Asia are coming down from post-pandemic record highs as the region's airlines continue to restore seat capacity. Asia's air travel recovery has lagged the rest of the world due to China and Hong Kong being slower to return to international flying after COVID-19. Last year, capacity between Hong Kong and short-haul destinations surged by almost 40 per cent, so fares from Hong Kong to Southeast and Northeast Asia are under pressure, Mao said. Some Asian rivals with lower-cost home bases are using "fifth-freedom" rights, which have been allowed for many years in Hong Kong, to fly routes from the city to destinations outside the foreign airline's home country, directly competing with HK Express routes, Mao said. For example, Thai AirAsia in June launched a Bangkok-Hong Kong-Okinawa route. Another drag on HK Express has been the grounding of Airbus 320neo planes due to industry-wide issues with their Pratt & Whitney engines, Mao said. Half of the 10 A320neos in its fleet are still grounded, she said, adding there was not a definite timeline of when the issue can be resolved. The situation is improving but the airline needs more clarity from the engine manufacturer "to regain the confidence for our recovery aircraft reactivation", she said.
Business Times
03-06-2025
- Business
- Business Times
HK Express airfares dragged down by rising competition out of Hong Kong, CEO says
[NEW DELHI] An accelerating fall in the price of air tickets from recent high levels is the biggest challenge at Cathay Pacific's budget arm HK Express, its CEO said, as competition rises after a third runway opened at Hong Kong's airport. Many airlines, including HK Express and its low-cost rivals, are capitalising on the third runway that opened in November to add more flights, CEO Jeanette Mao told reporters on the sidelines of the Iata annual meeting in New Delhi. HK Express was the world's fastest-growing airline last year, with flight frequencies up 46 per cent from 2023 according to aviation data firm OAG, and it expects to grow by more than 30 per cent this year, according to Mao. 'But of course, such aggressive growth in the supply also added pressure on the yield side,' she said. HK Express annual yield, a proxy for airfares, fell 23 per cent year on year in 2024, mainly due to intense price competition on regional routes pushing airfares down. Yields at Cathay Pacific's full-service airline were down 12 per cent. Airfares in Asia are coming down from post-pandemic record highs as the region's airlines continue to restore seat capacity. Asia's air travel recovery has lagged behind the rest of the world due to China and Hong Kong being slower to return to international flying after Covid-19. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Last year, capacity between Hong Kong and short-haul destinations surged by almost 40 per cent, so fares from Hong Kong to South-east and Northeast Asia are under pressure, Mao said. Some Asian rivals with lower-cost home bases are using 'fifth-freedom' rights, which have been allowed for many years in Hong Kong, to fly routes from the city to destinations outside the foreign airline's home country, directly competing with HK Express routes, she said. For example, Thai AirAsia in June launched a Bangkok-Hong Kong-Okinawa route. Another drag on HK Express has been the grounding of Airbus 320neo planes due to industry-wide issues with their Pratt & Whitney engines, she added. Half of the 10 A320neos in its fleet are still grounded, the CEO said, adding there was not a definite timeline of when the issue can be resolved. The situation is improving but the airline needs more clarity from the engine manufacturer 'to regain the confidence for our recovery aircraft reactivation', she said. Pratt, owned by RTX, did not immediately respond to a request for comment. REUTERS
