ARC NEWS
EVA Air orders four more 787-10s
May 15, 2024
Taiwanese carrier EVA Air has ordered four more Boeing 787-10s from the airframer. In a filing to the Taiwan stock exchange on 10 May, the carrier says the total transaction price for the order will not exceed $1.95 billion, with unit prices not exceeding $488 million. In a separate filing on the same day, the carrier also announced the purchase of a General Electric GEnx-1B74/75 spare engine for no more than $36.8 million. The engine powers 787-9s. EVA operates 85 aircraft, comprising 34 777-300ERs, 11 787-10s, four 787-9s, nine Airbus A330-300s, one A330-200, 14 A321-200s and nine 777-200LR freighters, fleets data shows. It also has two A330-200s and one A321 stored. It has 18 A350-1000s, 15 A321neos, nine 787-9s and two 787-10s on order, excluding the new commitment. EVA says the 18 Airbus widebodies will be delivered between 2026 and 2030, while the 18 narrowbodies are scheduled for delivery from 2029 to 2030, according to its 2023 annual report. The carrier will start receiving its orders of 11 787s this year and will convert three of its 777-300ERs to freighters from 2026, it adds. EVA expects to end the year with 87 aircraft on its fleet, comprising 33 777-300ERs, 12 787-10s, seven 787-9s, nine A330-300s, 17 A321-200s and nine 777F freighters. The carrier announced in March that it sold the three A330-200s in its fleet to Mockingbird Limited.


China Airlines boosts annual profit
May 15, 2024
China Airlines made an operating profit of NT$10.2 billion ($315 million) in 2023, up from NT$2.58 billion seen in 2022. Operating revenue rose 23% to NT$185 billion, up 23%, the airline says in a filing to the Taiwan stock exchange. Operating expenses increased to NT$13.7 billion from NT$8.79 billion. Net profit came in at NT$7.47 billion, versus NT$2.25 billion the previous year. Cash and cash equivalents decreased to NT$30.4 billion at year-end, from NT$35 billion at 2023's dawn.


US Treasury to auction CARES Act airline warrants
May 14, 2024
The US Department of Treasury intends to commence in June auctioning its warrants received from airlines that were beneficiaries during the pandemic of the federal government's various aid packages, including the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Treasury's warrants to purchase the common stock of certain publicly traded airlines will be sold to qualified institutional buyers, institutional accredited investors or the issuing airlines. "The proceeds of these sales will provide additional returns to the American taxpayer from the financial assistance and liquidity that Treasury provided to these airlines during the pandemic," the department notes. US carriers in spring 2020 received $25 billion via the payroll support programme under the CARES Act. Airlines that accepted payroll support had to agree not to conduct involuntary furloughs or reduce pay rates through September 2020. Payroll support came in the form of both direct grants and loans, and also came with a provision that airlines must offer warrants to the Treasury. An additional $15 billion in pandemic-related payroll support for US carriers was approved by Congress in December 2020, with similar conditions and provisions attached. Houlihan Lokey Capital and Loop Financial Consulting Services will assist Treasury in co-ordinating and conducting the auctions, which are set to commence the first week in June.


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