TransAsia Airways, the Taiwan-based airline that had two fatal crashes within seven months of each other, said in a stock exchange filing on Tuesday that it was shutting down. Its shares and flights had been suspended since Monday. The company has continuously lost money, and its shares have been sliding since the crashes in 2014 and 2015 raised questions about the safety of its planes. In July 2014, one of its planes hit a building while landing in stormy weather in the Penghu Islands, about 30 miles west of Taiwan’s main island. Forty-eight people were killed. Another plane crashed into the Keelung River in Taiwan in February 2015, killing at least 35 people. The pilot of that plane acknowledged later that he had shut off the wrong engine, according to a report on the crash. The report also said that he had failed a simulator test the previous year but passed a makeup exam.<br/>
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PIA is evaluating an order for wide-body Airbus and Boeing jets as it looks to upgrade its ageing fleet, an executive for the state-owned airline said on Tuesday. "Boeing 777X would be a good option," said the airline's executive director of human resources and works, Raheel Ahmed, adding that PIA is also looking at the Airbus A330 and A350 models. PIA would consider purchasing the aircraft directly from the manufacturer and financing the order through a sale and leaseback arrangement, when an airline sells a jet to a lessor who then leases it back. It would also consider a direct leasing agreement, known as a dry lease. Ahmed did not say when PIA would order the jets or how many it could buy. It has a fleet of 38 narrow-body and wide-body Airbus and Boeing jets, with three A310s to be retired on Dec. 31, he added. Ahmed also said PIA would cut its 18,000 workforce by between 3,000 and 3,500 employees by the end of 2017 as the Pakistan government looks to turn around the loss-making airline and sell-off a 49% stake. However, PIA later said Ahmed's figures were incorrect, and no decision had as yet been taken on how many jobs would be cut or over what timeframe.<br/>
Long-haul budget carrier AirAsia X swung to a profit of MYR11.02m ringgit (US$2.49m) in its Q3, from a loss of MYR288.2m. Revenue for the quarter to end September was MYR982.4m, an increase of 23.9% on the same period last year. The increase was due to increased ticket revenue, ancillary income and aircraft operating lease income. Pre-tax profit was MYR12m ringgit, from 2015’s loss of MYR291m. During the quarter capacity in available seat km terms (ASK) was up 34% and revenue (in revenue seat km) rose 39%. AirAsia X carried 1.22m passengers in the three months, a 35% uplift from 2015. Load factor was up 3 percentage points at 78%. The third quarter has “seen great capacity injected amounting to 10% out of the 32% planned for the whole year,” the airline said. “Australia routes continue to be [AirAsia X’s] highest revenue contributor at 33% of total revenue.”<br/>
Fiji Airways has opted for five Boeing 737 MAX 8 planes to replace its existing narrow-body fleet. The airline currently operates five earlier model Boeing 737s on its short and medium-haul network to destinations including New Zealand, Australia, Hawaii, Kiribati, Samoa, Solomon Islands, Tonga and Vanuatu. The first two of the five new B737 MAX 8 aircraft will arrive in 2018, and the remaining three will arrive the following year. The announcement today was made jointly in the Fijian capital, Suva, by Fiji Airways and the Fijian Government, the airline's majority shareholder. Fiji Airways CE Andre Viljoen said the improved operating economics and product enhancements were "compelling reasons" to consider renewing the current Boeing 737 aircraft. It was a major capital decision and the airline had achieved a ground-breaking package deal, Viljoen said. The deal secured with Boeing, leasing company GE Capital Aviation Services and engine manufacturers CFM International included a 12-year sale and leaseback financing arrangement. The aircraft have 170 seats and will have a two-class configuration - business and economy.<br/>