aviation

United Technologies, Raytheon to combine as defense giant

NEW YORK (June 10): United Technologies Corp. agreed to buy Raytheon Co. in an all-stock deal, forming an aerospace and defense giant with US$74 billion ($100.9 billion) in sales in one of the industry’s biggest transactions ever.

ST Engineering expands MRO presence to Vietnam with $5.3 mil JVCo

SINGAPORE (June 6): ST Engineering’s Aerospace unit and Vietnam Airlines Engineering Company (VAECO), a subsidiary of Vietnam Airlines, have formed a 49:51 joint venture (JV) entity in Vietnam following a memorandum of understanding (MoU) signed in April last year.

Called Vietnam Singapore Technologies Engineering Aerospace, the JV company was set up with a capital of US$3.9 million ($5.3 million) to provide component maintenance, repair & overhaul (MRO) solutions.

It also establishes ST Engineering’s foray into Vietnam.

SATS well supported by decent dividend yield, strong growth prospects: DBS

SINGAPORE (May 23): DBS Vickers Securities is remaining positive on SATS with a “buy” call and target price of $5.44, on the belief that Changi Airport and regional aviation growth will continue to drive the gateway services provider’s long-term earnings growth.

This comes after SATS ended FY19 with earnings of $248.4 million, down 5% y-o-y due to the absence of one-off gains.

ATA.ONE offers cheap airfares to fill empty seats

SINGAPORE (May 20): From booking tickets to online checkins, mobile apps have been transforming the travel experience for airlines and passengers alike over the past decade or so.

Categories: 

This app is a win-win solution for both airlines and travel junkies

SINGAPORE (May 17): 2.2 million seats are left unsold every day around the world, translating to significant lost revenue for thousands of commercial airlines globally.

Now, there is now an app that lets passengers seek bargain airfares by bidding for last-minute left over seats while helping airlines fill empty seats at the same time.

ATA.ONE is currently only available in Europe and the Middle East. 

Singapore Airlines, SATS extend partnership with new five-year contract commitment

SINGAPORE (April 30): Singapore Airlines (SIA) and SATS Ltd have agreed to renew a suite of aviation services contracts for the next five years as part of their bid to strengthen Singapore’s overall competitiveness as a hub.

For the next five years starting from April 1, SIA and SilkAir contracts will have a five-year tenure with the option to extend for another five years. It encompasses inflight catering and cabin handling, passenger and ramp handling, cargo handling, aircraft interior cleaning, aviation security and laundry services.

China Aviation Oil's 1Q earnings fall 2.12% to $35.9 mil on lower revenue

SINGAPORE (April 25): China Aviation Oil (CAO) has announced 1Q19 earnings of US$26.3 million, down 2.12% y-o-y from US$26.9 million a year ago due to lower revenue.

Revenue for the quarter fell 9.37% to US$3.72 billion from US$4.1 billion in 1Q18 on the back of lower oil prices as well as a decrease in overall supply and trading volume.

Notably, a 32.5% decrease in revenue contributions from other oil products to US$960.7 million more than offset a 2.91% improvement in revenue from middle distillates to US$2.76 billion.

SIA Engineering to establish line maintenance JV in Thailand with NokScoot

SINGAPORE (April 1): SIA Engineering Company (SIA EC) is establishing a $2.74 million line maintenance joint venture (JV) company in Thailand with low-cost carrier (LCC) airline, NokScoot Airlines.

The JV company is due to commence operations in Bangkok’s Don Mueang Airport (DMK) with the aim to subsequently expand to other key airports in Thailand.

Under the terms of the agreement, SIA EC will subscribe for a 51% stake in the JV for $1.34 million in cash – while NokScoot will hold the remaining 49% interest with a $1.4 million cash subscription.

China Aviation Oil poised to take off this year with compelling valuations, strong passenger traffic recovery: RHB

SINGAPORE (Mar 27): RHB Research is upgrading its call on China Aviation Oil (CAO) to “buy” from “hold”, while raising its target price on the stock by 10 cents to $1.60 to suggest 26% upside plus 3.6% yield.

This comes as the research house expects CAO to benefit from signs of a strong recovery in international passenger growth in China, in addition to the anticipated capacity constraints of its 33%-owned associate, Shanghai Pudong International Airport (SPIA).

More earnings drivers required for China Aviation Oil to be a 'buy', says RHB

SINGAPORE (Mar 1): RHB Research is remaining “neutral” on China Aviation Oil (CAO) after the group reported FY18 earnings of US$94 million ($127 million), up 10% y-o-y and coming in slightly ahead of RHB and consensus estimates on better-than-expected gross profit margin.

The research house has raised its target price on the stock to $1.50 from $1.32 previously as it rolls over its blended valuation to 2019, which implies 9% upside and 4% FY19F yield.

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