South Africa’s government said a deal to sell a 51% stake in bankrupt state-owned South African Airways to a group of private investors isn’t at risk after aviation veteran Gidon Novick resigned from the proposed new owner’s board. Novick, a former head of the recently collapsed Comair Ltd., was intended to provide the industrial expertise to a revived SAA after more than 18 months in receivership. He resigned earlier this week from the board of the Takatso consortium, which is made up of closely held Global Airways, and private-equity firm Harith General Partners. “Government is awaiting the completion of the regulatory processes and thereafter will finalize Takatso’s acquisition,” the Department of Public Enterprises said in a statement on Friday. “We condemn the deliberate misinformation and casting of doubt about the transaction and regulatory processes” since Novick’s resignation, it said.<br/>
star
Asiana Airlines improved its quarterly profits, amid an upswing in passenger travel following the easing of domestic and international travel restrictions. For the quarter to 30 September, the South Korean carrier reported an operating profit of W229b ($171m), up 43% year on year. It is also Asiana’s sixth consecutive quarter of profitability, the airline notes. Quarterly revenue rose about 47% to W1.5t, led mainly by a “brisk” four-fold increase in passenger travel revenue. In a Korean language statement, Asiana says the sharp uptick in passenger revenue is also the result of its “quick response to changes in the external environment”, including the country’s easing of pandemic curbs. The airline has since returned its fleet of temporary freighters - comprising Airbus A330s and A350s - to passenger operations to meet the increase in demand. Its A380s have also been returned to service. By region, Asiana reports the sharpest increase in takings from European flights, with revenue increasing about fourteen times year on year. On the other hand, the Star Alliance carrier says cargo demand has softened, with revenue decreasing about 10% year on year. Asiana attributes this to the slowdown in the global economy, as well as the decrease in maritime freight rates. The carrier continued to post a net loss, though it cut some red ink in its latest earnings. It reported a net loss of W172b, down from last year’s W210b net loss. Asiana says it continued to make a net loss as a result of foreign currency losses.<br/>
Tata Group-owned Air India is in talks with Boeing and Airbus (AIR.PA) about ordering new aircraft and is meeting its immediate needs by leasing planes and repairing grounded aircraft, the airline's chief executive said on Saturday. The autos-to-steel conglomerate, which completed its purchase of Air India in January, faces an uphill struggle to upgrade an ageing fleet, turn around the company's financials and improve service levels, industry analysts say. "We are in deep discussion with Boeing, Airbus and engine manufacturers for a historic order of the latest generation aircraft that will power Air India's medium- and long-term growth," Campbell Wilson, the airline's chief executive, said at a Tata corporate event in Mumbai. Wilson said Air India planned to expand its fleet and global network, aiming to increase its market share to 30% on both domestic and international routes over the next five years. At present, Air India has a domestic market share of about 10% and an international market share of around 12%, according to industry estimates. Air India said in September it would lease 30 Boeing and Airbus planes, expanding its fleet by more than 25% as part of the drive to boost market share and to improve service levels. Industry sources said in July that Air India was moving closer to a decision on an order worth $50b at list prices to be split between Airbus and Boeing. The sources said at the time that both planemakers were making a "final push" with the order set to include up to 70 wide-body jets including Airbus A350s and Boeing 787s and 777s, and up to 300 narrowbodies.<br/>