Sri Lanka has decided against liquidating its national airline and will scout for a foreign investor, a minister said Thursday, despite warnings the loss-making carrier could drag on the economy. A panel convened by president Maithripala Sirisena to determine the fate of debt-saddled SriLankan Airlines recommended it be retained, but subjected to a major financial restructuring. The airline is estimated to be carrying loans and accumulated losses of nearly US$2b. "We have ruled out the closure of the airline because the process of winding down will also be expensive," state minister of finance Eran Wickramaratne said. Attempts to privatise the airline failed in May 2017 when San Francisco-based private equity firm TPG withdrew its bid for a 49% stake. Since then, there had been no foreign or local investor interest in SriLankan Airlines. <br/>
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Qatar Airways has converted 10 of the Airbus A321neos it has ordered to the long-range variant, the A321LR. The carrier says it will use the A321LRs to connect its Doha base to "new growing markets" where demand is not sufficient for larger widebody aircraft or which lie beyond the range of current types. Group CE Akbar Al Baker states that the first of the 10 aircraft will be delivered in 2020. The carrier has 50 A321neos on order. With a range of 7,400km, the A321LR can carry 206 passengers in a 2-class layout or 244 in single-class configuration. The jet has a maximum take-off weight of 97t, compared with 93.5t for a standard A321neo, and is also differentiated by structural reinforcements to the wing and the centre wing box and by the option of adding a third fuel tank in the cargo compartment. <br/>
Qantas has signalled that it intends to take a majority stake Alliance Airlines, having acquired a 19.9% stake in the Brisbane-headquartered operator. The carrier states that the stake was acquired at a total cost of A$60m (US$43.6m). “Qantas expects to ultimately seek regulatory approval from the [Australian Competition and Consumer Commission] to build on its current shareholding, with a longer-term view of taking a majority position in Alliance Airlines in order to better serve the charter market by unlocking synergies,” it adds. In the meantime, Qantas says it is taking a “business as usual” approach to the carrier, and will not seek any board seats. The move appears to have come as a surprise to Alliance, with the airline stating that its board “has not received any approach from Qantas” at the time of the announcement. <br/>
A study of underwater sound waves recorded on the day the Malaysia Airlines flight MH370 disappeared suggests a different route and a possible crash site north-east of Madagascar, if indeed the data is from the missing plane. Scientists at Cardiff University in the UK have examined acoustic-gravity waves picked up by 2 hydro-acoustic stations in the Indian Ocean, one off Cape Leeuwin in Western Australia and the other at Diego Garcia further north. Signals from both stations show sound waves that could have come from a large object, such as a meteorite or an aircraft hitting the water. "We have now been able to identify 2 locations where the aeroplane could have impacted with the ocean, as well as an alternative route that the plane may have taken," Cardiff University's Dr Usama Kadri said. <br/>
Japan Airlines reported a lower net profit for the first 9 months of fiscal 2018, but raised its full-year income outlook as a result of an anticipated easing of fuel prices. The carrier reported a net profit of JPY106.5b (US$980.4m) for the 9-month period ending Dec 31, 2018, down 6.6% from the same period a year earlier. For the full fiscal year ending March 31, however, JAL raised its net profit estimate to JPY138b, JPY28b higher than the profit guidance issued Oct 31, 2018. The full-year revenue projection remains unchanged, but the carrier lowered its operating cost estimate by JPY8b. Deferred income tax was also a factor the higher net profit estimate. For the 9-month period, JAL reported a revenue increase of 8.1% year-over-year to JPY1.1t. Operating costs rose 9.4% to JPY985.5b, with fuel expense up 21.4%. <br/>