SINGAPORE (Reuters) – BOC Aviation, the leasing arm of Bank of China (601988.SS: Quote, Profile, Research, Stock Buzz), has placed the biggest order in its 20-year history for 80 Boeing (BA.N: Quote, Profile, Research, Stock Buzz) medium-haul passenger planes, weeks after lessor SMBC Aviation ordered 115 Airbus jets.
The shopping spree by leasing companies comes as they ride a boom in aviation financing and see strong demand from airlines. Seeking to keep lean balance sheets, airlines are increasingly turning to lessors to upgrade fleets to fuel-efficient aircraft.
KUALA LUMPUR/SINGAPORE, Aug 21 (Reuters) – AirAsia Bhd’s
second-quarter results point to early signs of a
recovery in the Malaysian market with a planned restructuring by
Malaysian Airline System Bhd (MAS) expected to lead to
lower capacity in the sector.
Malaysian carriers have been caught in a price war over the
past few years as both MAS and AirAsia have added seat capacity
to retain market share. Last year’s entry of Malindo, an
affiliate of Indonesia’s Lion Group, put further pressure on
yields. Analysts now expect struggling MAS to cut domestic
capacity, thus easing pressure on the industry.
SINGAPORE (Reuters) – Malaysia’s AirAsia Bhd (AIRA.KL: Quote, Profile, Research, Stock Buzz) dismissed a media report that it is weighing a bid for Japan’s embattled Skymark Airlines Inc (9204.T: Quote, Profile, Research, Stock Buzz), saying it is focused on a budget airline it is setting up with Japanese partners.
The Nikkei business daily said AirAsia, the region’s most aggressive budget airline, is in talks with financial institutions on a possible tender offer for the low-cost carrier – sending shares in Skymark surging 28 percent.
SINGAPORE, Aug 6 (Reuters) – Indonesia’s Lion Group, which
boasts an order backlog of about 500 Boeing and Airbus
aircraft, has clinched the first deal for its leasing
subsidiary in a key diversification move for one of the world’s
Two years after setting up shop in Singapore, Transportation
Partners (TP) has signed a deal to lease three new Boeing
737-800 planes to 9 Air, the low-cost airline of China’s Juneyao
Airlines, TP’s chief operating officer told Reuters.
SINGAPORE, Aug 1 (Reuters) – P2i, a technology spin-off from
Britain’s Ministry of Defence, is looking to raise as much as 10
million pounds ($17 million) from Singapore investors as it
readies the launch of its “Dunkable” or waterproof technology
for smartphones and tablets.
The fundraising by the nanotechnology company follows an
expanding list of overseas firms tapping Singapore’s pool of
high net worth individuals.
SINGAPORE/KUALA LUMPUR, July 23 (Reuters) – Singapore’s
civil aviation authority has asked airlines based in the
city-state to review their risk assessment of conflict zones
following the shooting down of a Malaysia Airlines
jetliner over Ukraine last week.
The deaths of nearly 300 passengers and crew in the downing
of Flight MH17 have shocked the aviation industry and prompted
calls for a re-think on assessing the threat to planes flying
thousands of metres above fighting on the ground.
SINGAPORE (Reuters) – The second fatal incident involving Malaysia Airlines (MAS) in four months will deepen the slump in ticket sales and force the government to speed up any plan to rescue the stricken flagship carrier, bankers say.
An MAS jet en route to Kuala Lumpur from Amsterdam was shot down over rebel-held territory near Ukraine’s border with Russia on Thursday, killing all 298 people on board. Shares of the loss-making airline plunged as much as 18 percent on Friday.
SINGAPORE (Reuters) – Singapore sovereign investor Temasek Holdings wants to increase its holdings in China’s financial services and technology sectors, banking on the long-term growth prospects of the world’s second largest economy.
Temasek Holdings Pte Ltd [TEM.UL], which has two-thirds of its assets in Singapore, China and Australia, poured S$24 billion ($19.27 billion) into new investments in the financial year ending March, a 20 percent increase from the previous year and the largest amount since the 2008 global financial crisis.
SINGAPORE (Reuters) – The uphill battle faced by Singapore’s stock exchange to improve its trading volumes appears to be getting only tougher.
This year has seen a sharp drop-off in IPOs and some big deals take a chunk of popular shares off market – both developments adding to the pain caused by a penny stock scandal last year and prompting the bourse to arm itself with new incentives to win back companies and investors.
SINGAPORE, June 24 (Reuters) – Singapore is to bring in new
rules to ensure all banks operating in the city-state have
enough liquid assets to withstand a sudden shock to the
financial system, falling in line with the global regulatory
trend for tougher liquidity rules.
DBS, Oversea-Chinese Banking Group and
United Overseas Bank, and foreign banks with a major
local presence will have to meet a requirement proposed by the
Basel Committee on Banking known as the liquidity coverage ratio
(LCR) by 2015, Lim Hng Kiang, Singapore’s trade and industry
minister, said in a speech on Tuesday.