Latest news with #RM51
The Sun
4 days ago
- Business
- The Sun
China Airlines holds on to older planes amid 787 delays
TAOYUAN: Taiwan's China Airlines is postponing the retirement of some of its older aircraft due to delays in getting Boeing 787-9 jets that may result in compensation payments from the planemaker, the carrier's newly appointed chairman said. Taiwan's oldest airline, established in 1959, is in the midst of a fleet renewal, last year splitting an order for new long-haul aircraft worth almost US$12 billion (RM51 billion) at list prices between Boeing and European rival Airbus. China Airlines has also ordered 24 Boeing 787s for regional and some longer-distance routes, including 18 787-9s and six of the stretched 787-10 variant. But chairman George Kao said China Airlines' fleet renewal plan to replace ageing Airbus A330s and Boeing 737-800s with 787-9s and A321neos was being hit by delays in getting new aircraft delivered, especially the 787-9s. 'We are at present being greatly impacted. Some aircraft that were scheduled to be phased out, or handed back at the end of their lease, as some are leased, will remain and have their leases extended,' he told Reuters in an interview at the airline's headquarters in Taoyuan, home to Taiwan's main international airport. Boeing has not given China Airlines an exact timeframe for the 787-9 delays, though it has said deliveries will 'basically' start from the end of 2025, added Kao, a pilot by training who started out as a flight attendant and became chairman in March. 'This is written into the contract,' he said, when asked whether China Airlines would seek compensation. 'For example, if it's in the supply chain, the responsibility is Boeing's, and Boeing has to provide some compensation. But if it's not, then there is no compensation. It's all recorded in the contract.' Boeing did not respond to a request for comment. Other airlines are facing similar issues. International Air Transport Association director-general Willie Walsh, whose group represents airlines globally, this month called predictions of aircraft delivery delays throughout this decade 'off-the-chart unacceptable'. Still, Kao was upbeat about expansion plans, pointing to the more fuel-efficient 777-9s and A350-1000s ordered last year that will enable more capacity to be added to routes like New York and London, and a new third terminal at Taoyuan airport, the first section of which is expected to open later this year. He signalled further aircraft additions ahead for subsidiary Mandarin Airlines, which flies almost exclusively domestic routes with ATR-72 turboprops and is getting a revamp to focus on regional routes from southern and central Taiwan with new jet aircraft. 'I can talk about this with aircraft lessors,' he said, without disclosing the jet models it could add. 'We have this plan, to let Mandarin Airlines grow up.' China Airlines faces competition at home not only from long-established rival EVA Air but also rapidly growing Starlux Airlines, which last week placed an order for 10 more A350s. Kao said while the Taiwan market itself was small, transit traffic, which all three airlines are focusing on, meant supporting three full-service airlines was not an issue. Seoul's Incheon airport is too big, meaning passengers can get lost, Tokyo's landing fees are too expensive and Hong Kong has 'political issues', whereas Taoyuan airport's new terminal will greatly improve the travel experience, he said. 'Our passengers are not all Taiwanese; many are transit. Because Taiwan's location, connecting the Pacific to all of Asia, is really very convenient.' – Reuters
New Straits Times
5 days ago
- Business
- New Straits Times
Entrepreneur Development Ministry's trade mission to Japan targets RM51mil in deals
KUALA LUMPUR: The Entrepreneur Development and Cooperatives Ministry (KUSKOP)'s official trade mission to Japan, held in conjunction with Expo 2025 Osaka, is expected to generate RM51 million in potential investment and sales. In a statement, the ministry said the mission is part of its strategic efforts to strengthen the presence of Malaysian small and medium enterprises (SMEs) in the international market, particularly in Japan. To date, seven memorandums of understanding (MoUs) worth RM10.3 million have been signed between four Malaysian companies and seven Japanese firms. "At the same time, 10 Malaysian SMEs also launched their products in conjunction with the inauguration of KUSKOP Week at the Malaysia Pavilion (at the expo)," the ministry said. The KUSKOP delegation, accompanied by its agencies, includes SME Bank, SME Corp Malaysia, Perbadanan Nasional Bhd, the Malaysian Cooperative Commission, 39 SME companies, and five cooperatives from various sectors. A key highlight of the mission is the organisation of KUSKOP Week at the Malaysia Pavilion, which began yesterday and runs until June 28. It carries the theme Health and Well-being, in line with efforts to promote local products and services in the health, healthy lifestyle and wellness sectors. The ministry said it remains fully committed to elevating Malaysian SMEs to the global stage by actively pursuing strategic business opportunities in Japan and the broader East Asian region. During the trade mission, the KUSKOP delegation will also engage with the Osaka Chamber of Commerce and Industry, as well as other key industry players, to explore new business collaboration opportunities. "The implementation of the trade mission is in line with the aspirations of Malaysia MADANI, which emphasises sustainability, inclusive development and well-being through the strengthening of international economic relations," the ministry added.
The Sun
5 days ago
- Business
- The Sun
KUSKOP trade mission to Japan targets RM51 million deals
KUALA LUMPUR: The Ministry of Entrepreneur Development and Cooperatives' (KUSKOP) official trade mission to Japan, in conjunction with the Osaka Expo 2025, is expected to generate RM51 million in potential investment and sales. It said in a statement that the mission is part of its strategic efforts to strengthen the presence of Malaysian Small and Medium Enterprises (SMEs) in the international market, particularly in Japan. So far, according to the ministry, seven memorandums of understanding (MoUs), worth RM10.3 million, have been signed between four Malaysian companies and seven Japanese companies. 'At the same time, 10 Malaysian SMEs also launched their products in conjunction with the inauguration of KUSKOP Week at the Malaysia Pavilion (at the expo),' said the ministry. The KUSKOP delegation, accompanied by agencies under the ministry, comprises SME Bank, SME Corp Malaysia, Perbadanan Nasional Bhd, the Malaysian Cooperative Commission, and 39 SME companies as well as five cooperatives from various sectors. The mission's highlight is the organisation of KUSKOP Week at the Malaysia Pavilion, which started yesterday and will run until June 28, with the theme 'Health and Well-being', in line with the aspiration to introduce local products and services in the health, healthy lifestyle and wellness sectors. According to the ministry, it has always fully committed to elevating Malaysian SMEs to the global stage by aggressively exploring and seizing strategic business opportunities in Japan and the East Asia region. During the trade mission, the KUSKOP delegation will also meet with the Osaka Chamber of Commerce and Industry as well as other industry players to expand business collaboration opportunities. 'The implementation of the trade mission is in line with the aspirations of Malaysia MADANI, which emphasises sustainability, inclusive development, and well-being through the strengthening of international economic relations,' added the ministry.
New Straits Times
5 days ago
- Business
- New Straits Times
KUSKOP trade mission to Japan targets RM51mil in deals
KUALA LUMPUR: The Entrepreneur Development and Cooperatives Ministry (KUSKOP)'s official trade mission to Japan, held in conjunction with Expo 2025 Osaka, is expected to generate RM51 million in potential investment and sales. In a statement, the ministry said the mission is part of its strategic efforts to strengthen the presence of Malaysian small and medium enterprises (SMEs) in the international market, particularly in Japan. To date, seven memorandums of understanding (MoUs) worth RM10.3 million have been signed between four Malaysian companies and seven Japanese firms. "At the same time, 10 Malaysian SMEs also launched their products in conjunction with the inauguration of KUSKOP Week at the Malaysia Pavilion (at the expo)," the ministry said. The KUSKOP delegation, accompanied by its agencies, includes SME Bank, SME Corp Malaysia, Perbadanan Nasional Bhd, the Malaysian Cooperative Commission, 39 SME companies, and five cooperatives from various sectors. A key highlight of the mission is the organisation of KUSKOP Week at the Malaysia Pavilion, which began yesterday and runs until June 28. It carries the theme Health and Well-being, in line with efforts to promote local products and services in the health, healthy lifestyle and wellness sectors. The ministry said it remains fully committed to elevating Malaysian SMEs to the global stage by actively pursuing strategic business opportunities in Japan and the broader East Asian region. During the trade mission, the KUSKOP delegation will also engage with the Osaka Chamber of Commerce and Industry, as well as other key industry players, to explore new business collaboration opportunities. "The implementation of the trade mission is in line with the aspirations of Malaysia MADANI, which emphasises sustainability, inclusive development and well-being through the strengthening of international economic relations," the ministry added.
Barnama
5 days ago
- Business
- Barnama
KUSKOP Expects Trade Mission To Japan To Generate RM51 Mln In Potential Investment, Sales
GENERAL KUALA LUMPUR, June 23 (Bernama) -- The Ministry of Entrepreneur Development and Cooperatives' (KUSKOP) official trade mission to Japan, in conjunction with the Osaka Expo 2025, is expected to generate RM51 million in potential investment and sales. It said in a statement that the mission is part of its strategic efforts to strengthen the presence of Malaysian Small and Medium Enterprises (SMEs) in the international market, particularly in Japan. So far, according to the ministry, seven memorandums of understanding (MoUs), worth RM10.3 million, have been signed between four Malaysian companies and seven Japanese companies. "At the same time, 10 Malaysian SMEs also launched their products in conjunction with the inauguration of KUSKOP Week at the Malaysia Pavilion (at the expo)," said the ministry. The KUSKOP delegation, accompanied by agencies under the ministry, comprises SME Bank, SME Corp Malaysia, Perbadanan Nasional Bhd, the Malaysian Cooperative Commission, and 39 SME companies as well as five cooperatives from various sectors. The mission's highlight is the organisation of KUSKOP Week at the Malaysia Pavilion, which started yesterday and will run until June 28, with the theme 'Health and Well-being', in line with the aspiration to introduce local products and services in the health, healthy lifestyle and wellness sectors. According to the ministry, it has always fully committed to elevating Malaysian SMEs to the global stage by aggressively exploring and seizing strategic business opportunities in Japan and the East Asia region. During the trade mission, the KUSKOP delegation will also meet with the Osaka Chamber of Commerce and Industry as well as other industry players to expand business collaboration opportunities. 'The implementation of the trade mission is in line with the aspirations of Malaysia MADANI, which emphasises sustainability, inclusive development, and well-being through the strengthening of international economic relations," added the ministry.
