SINGAPORE/MANILA, Jan 12 (Reuters) – Global Ferronickel
Holdings Inc, the Philippines’ No. 3 nickel producer, is
expected to raise $600 million in a Manila IPO in March, sources
said, taking advantage of higher prices and exports triggered by
a ban on shipments of ore from Indonesia.
One banking source familiar with the matter said
pre-marketing for the issue, aiming to raise as much as 26.98
billion pesos in the first local commodity IPO since Coal Asia
Holdings Inc in 2012, would start in early March.
SINGAPORE/NEW YORK (Reuters) – Australian bank Macquarie Group Ltd’s aircraft leasing subsidiary is in exclusive talks to buy a portfolio of new planes from Dublin-based lessor AWAS for more than $4 billion, according to people familiar with the matter.
Macquarie AirFinance is negotiating a deal for just under 100 newly built and on-order aircraft being sold by AWAS, the people said. Macquarie is working to finalise an agreement before the end of January, they said, asking not to be named because the matter was confidential.
SINGAPORE (Reuters) – The rapid growth in Southeast Asia’s airline industry is showing up the pressing need for reforms to the region’s fragmented safety framework, with a lack of streamlined standards on air navigation and staff training.
The Association of Southeast Asian Nations (ASEAN) has no regional agencies overseeing aviation safety or co-ordinating air traffic control, unlike in the more developed European market.
SYDNEY/SINGAPORE (Reuters) – The sheer volume of flights in the skies over Southeast Asia is putting pressure on outdated air traffic control and on pilots to take risky unilateral action in crises such as that possibly faced by AirAsia Flight QZ8501.
Pilots who have flown the Indonesia to Singapore route say it’s not unusual for delays to requests to increase altitude to avoid bad weather – and for requests to eventually be rejected due to the number of other planes in the area.
KUALA LUMPUR/SINGAPORE (Reuters) – As AirAsia Bhd grapples with its first airliner disaster since its founding a dozen years ago, Asia’s biggest budget carrier will have little margin for error given tough competition and thin profits in the sector.
Even before an Indonesia AirAsia flight went missing on Sunday night with 162 on board, presumed to have crashed off the Indonesian coast, affiliates in Thailand and the Philippines as well as its long-haul unit were posting losses while its Indonesian unit eked out only a tiny profit in the latest quarter.
SINGAPORE/KUALA LUMPUR, Dec 28 (Reuters) – AirAsia was built
up from two planes in 2001 to an airline industry titan that
operates more than 180 jets in just over a decade but now faces
its biggest ever challenge.
A dream run for the airline and its flamboyant boss, Tony
Fernandes, turned sour on Sunday, as Indonesia AirAsia reported
an Airbus 320-200 with 162 people on board went missing during a
flight from the Indonesian city of Surabaya to Singapore.
SINGAPORE, Nov 28 (Reuters) – Airlines in Asia-Pacific are
holding off from hedging their fuel costs as they wait for oil
to dip below $70 a barrel in hopes of securing lower prices,
industry executives said on Friday.
The benchmark Brent crude oil price fell more than
$6 to under $72 a barrel on Thursday, its lowest since July
2010, after the Organization of Petroleum Exporting Countries
opted against cutting production even though a supply glut is
pulling down prices.
SINGAPORE (Reuters) – Indonesia’s Lion Group is expected to sign a deal on Thursday to buy about 40 ATR 72-600 aircraft for nearly $1 billion at list prices, a source familiar with the matter said on Thursday.
The order is part of a strategy by Lion Air, one of the world’s fastest-growing airlines, to use turboprop planes in remote locations in Indonesia and Malaysia.
SINGAPORE, Nov 10 (Reuters) – Singapore’s two glitzy casinos
are fighting for a shrinking pool of high rolling players as
China’s corruption crackdown and economic slowdown reduce the
number of VIPs at their tables, and the battle is starting to
Gaming mogul Sheldon Adelson, whose Las Vegas Sands
runs the Marina Bay Sands resort, has accused rival Genting
Singapore’s Resorts World Sentosa of relying on overly
generous incentives and credit to entice big money players.
SINGAPORE, Oct 31 (Reuters) – Emirsyah Satar said on Friday
he would step down as chief executive of Garuda Indonesia
within months after a decade-long stint during which
he helped repair the image of the loss-making Indonesian flag
carrier and restructure operations.
Satar told Reuters in an interview that he will leave Garuda
because current regulations prevent any CEO from serving more
than two, five-year terms. He said he would step down late this
year or early next year, after a shareholders’ meeting.