Singapore Air Show Transactions

The Singapore Air Show is ongoing this week, and the second and third days have brought us some additional aircraft transactions.STARLUX ordered five A350F freighters and three A330neo aircraft. The Taiwanese carrier operates an all-Airbus passenger fleet that includes the A350-900, A330neo and the A321neo. “STARLUX Airlines has continuously nurtured the cargo market since its inception, capitalising on the strategic advantages offered by Taiwan’s geographical location,” said STARLUX CEO Glenn Chai. “With this order, STARLUX will become the first Taiwanese airline to operate the next-generation A350F widebody freighter. In an era of climate change, the A350F has unbeatable efficiency in terms of fuel burn, CO2 emissions, and economics, offering significant energy-saving and carbon reduction benefits. It not only meets customer requirements for carbon reduction but also aligns with STARLUX’s ESG plan to achieve zero emissions by 2050. Additionally, the three new A330neos will strengthen our fleet advantage and provide greater flexibility for passenger operations.” “We love working with STARLUX Airlines in building and strengthening its fleet,” said Benoît de Saint-Exupéry, Airbus EVP Sales, Commercial Aircraft. “Operating both the latest generation Airbus single aisle and widebody aircraft brings the airline enormous benefits. It significantly reduces fuel consumption and carbon emission and offers unrivalled levels of technical commonality, benefits in maintenance and training. The A350F, the only new generation large freighter, will fit seamlessly into this all-Airbus fleet and enable STARLUX Airlines to compete effectively with the leading players in key cargo markets.” Thai Airways announced several leasing transactions with Aercap to expand its fleet. These include four Airbus A350-900s, three Boeing 787-9s and 10 Airbus A321neos. Of the four A350 aircraft, two have already been delivered with the remaining two units scheduled for delivery in the first and second quarter of 2024, respectively. The 787 deliveries are scheduled to begin in the second quarter of 2024 through the fourth quarter of 2025, while deliveries of the A321NEOs are scheduled to begin in the third quarter of 2025 through the second quarter 2026. "This marks a significant milestone as we celebrate the continuing partnership with AerCap. It's a testament to the trust and commitment we share, as we emerge from the recent challenging period. The addition of these new generation aircraft enhances our ability to swiftly adapt to the evolving market demands, and not only enhances our operational capacity but also offers exceptional levels of comfort for our passengers." said Chai Eamsiri, the Chief Executive Officer of Thai Airways. "AerCap is very pleased to announce this significant transaction with Thai Airways and to support them with both their widebody and narrowbody fleet modernization plan as they emerge from a very challenging period," said Peter Anderson, the Chief Commercial Officer of AerCap. AerCap's business relationship with Thai Airways began in the mid-1990s with the lease of Boeing 737-400s and Airbus A330-300s, and we have worked closely together during both the upcycles and downcycles to maintain and strengthen the partnership between our two companies. We thank Thai Airways for their business and look forward to working with them as these aircraft deliver, and beyond."Viet Jet signed an MOU for 20 Airbus A330-900 widebody aircraft. When concluded, this transaction will be the first purchase of wide-body aircraft for VietJet, which will be used on the carrier's growing long-haul network and high capacity regional services.Vietjet Chief Executive Officer Dinh Viet Phuong said, "The new A330neo aircraft is a strategic addition to comprehensively modernise Vietjet's fleet, enhancing operational capabilities to support our global flight network expansion plan. Its fuel-efficient new-generation design aligns with our sustainable development strategy and ESG goals, aiming for net-zero emissions by 2050. With the introduction of the A330neo, passengers can look forward to longer-range, well-equipped flights with excellent services at more competitive fares." “We are excited to work with Vietjet on the next phase of the carrier's expansion,” said Christian Scherer, CEO of the Commercial Aircraft business of Airbus. “The A330neo will enable the airline to achieve the lowest possible operating costs per seat and to continue to offer its customers the best possible value wherever they fly. It will also be the perfect complement to the A321XLRs already on order with the airline, as it spreads its wings to more far flung destinations.”Powered by the latest generation Rolls-Royce Trent 7000 engines, the A330-900 is capable of flying 7,200 nm / 13,300 km non-stop. At the end of January 2024, the A330 Family had accumulated 1,771 firm orders from more than 130 customers worldwide.Fly91 in India ordered two ATR 72-600 aircraft leased from Dubai Aerospace Enterprise (DAE). FLY91 is a regional carrier that strives to enhance air connectivity from tier 2 and tier 3 towns across India. Founded by industry veterans and backed by professional funding, FLY91 aspires to make air travel accessible to every Indian. This vision is reflected in their selection of ATR 72-600 fleet, which is a smart choice for efficient and sustainable operations from most regional airports in the country. The carrier and DAE confirmed the agreement reached in January for the two aircraft. Manoj Chacko, Chief Executive Officer of FLY91, added, “India's aviation sector is expanding at an unprecedented rate, and FLY91 is proud to be part of this growth story. We are firmly committed to the country's development through last mile air connectivity, that aim to serve the unserved & under-served cities in India. As we prepare for take-off, our focus is to provide safe, reliable, and comfortable flights to our customers. We are thrilled to partner with DAE on this exciting journey and are thankful for their reaffirmation on FLY91’s vision for strengthening regional aviation in India”. Firoz Tarapore, Chief Executive Officer of DAE, said, “We are delighted to have reached an agreement with FLY91 as their first operating lessor, supporting their vision to enhance regional connectivity in India. We thank FLY91 for their trust in DAE as a partner and look forward to deepening this relationship over time.”Cebu Pacific ordered two ATR 72-600 aircraft, adding to its fleet of 16 aircraft of that type already in service. The airline is expected to choose between Airbus and Boeing later this year for a 100 narrow-body aircraft order, but that will come well after the Singapore Air Show. Nonetheless, this order for additional regional feeder aircraft will enable both point-to-point and connecting services within the Philippines. “One third of the world’s airports can be accessed only by turboprop aircraft due to the length of their runways,” said Fabrice Vautier, Sr. VP of Commercial Aircraft at ATR. “There is always a market for the ATR. What we have also seen is that everything is linked to traffic levels, and if you are looking at 60-70 passengers on a flight, the turboprop probably remains the best choice. You need to look at the economics—the cost of operation and ticket price—and that’s especially true in Asia, which is very price sensitive.” The Bottom Line While not the order volume of Paris, Farnborough, or even Dubai, the Singapore Air Show remains a major element of the Asian market, and an opportunity for manufacturers and airlines to announce important orders. This year, while orders have been light, is no exception.

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