ARC NEWS
Airlink to acquire 40% strategic equity in FlyNamibia
September 29, 2022
South African airline Airlink is acquiring a 40% strategic equity holding in Windhoek-based FlyNamibia for an undisclosed monetary sum. Through this venture, Airlink and FlyNamibia will support Namibia's National Transport Policy vision by providing affordable air transport, the South African airline says. The investment will accelerate Namibia's post-pandemic recovery and drive the expansion of airline services to, from and within the country, it adds. The investment is underpinned by a commercial franchise agreement under which FlyNamibia will adopt Airlink's "4Z" IATA designator for its ticket sales and scheduled flights, while retaining its unique corporate identity, brand and aircraft livery. It will also see FlyNamibia's inventory attaining higher visibility and being promoted on Airlink's computerised reservation system and on those of major foreign airlines which have partnered with Airlink. Airlink will also provide additional airline operations, technical and commercial skills training and development support for FlyNamibia. The changes will come into effect as soon as practicable, the airline says.


China Airlines finalises order for up to 24 Boeing 787s
September 29, 2022
China Airlines on 28 September disclosed that it had finalised its existing order of 16 Boeing 787-9 aircraft, adding options for eight additional jets as deliveries of the widebody resume. The Taiwan-based carrier first disclosed its order in August as part of its plan to replace its ageing fleet of Airbus A330-300 aircraft. This fleet modernisation is “the cornerstone” of its sustainability efforts, China Airlines chairman Hsieh Su-Chien states. “The 787's best-in-class efficiency and low operating costs will allow us to expand our network for years to come," Hsieh says. The carrier has 22 A330-300s, including 19 that are leased and three of which that are parked or in storage, Cirium fleets data shows. Its widebody passenger fleet also includes 14 A350-900s and 10 777-300ERs. The airline also has six 777 freighters on order. Boeing gave no target date for when shipments could begin. The airframer seeks to accelerate its aircraft delivery speed now that the US Federal Aviation Administration allowed 787 shipments to resume following a halt that lasted 15 months.


Garuda files for US Chapter 15 bankruptcy protection
September 28, 2022
Garuda Indonesia on 23 September filed for recognition of its debt-restructuring proposal under the US Chapter 15 process in the Southern District of New York. The carrier is pursuing a Chapter 15 filing to "provide certainty for debtors and all creditors, especially those under the jurisdiction of the United States", president director Irfan Setiaputra states in a filing to the Indonesia Stock Exchange. Under the US bankruptcy code, Chapter 15 is a mechanism for dealing with insolvency cases involving debtors, assets, creditors and other parties from more than one country. "With hundreds of creditors including foreign creditors, we understand that various steps are needed to ensure the peace agreement as agreed by more than 95% of creditors through PKPU can be implemented properly," Setiaputra adds. Garuda first entered a court-supervised restructuring in December 2021, when a Jakarta court upheld a suspension of debt-payment obligations (PKPU) petition. The airline's debt restructuring plan was greenlit by the Central Jakarta District Court at a 27 June hearing, following creditors' approval of the plan. Garuda had proposed to settle existing liabilities to creditors with a package of new bonds and stocks worth $1.13 billion.


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