MAS A380 - Fleet to be Retained

[badrul 0]

stumbled upon this:

 

 

 

gear up ladies and gentlemen?

[Muhammad Othman 0]

Sad news is we're not invited, but he/she did.

(*i mean i didn't at least)

 

So when this bird fly from LFBO/TLS, is it possible to track her using Flightaware or something else? Will she fly as 9M-MNA? What callsign?

Edited May 21, 2012 by Muhammad Othman

[Josh T 0]

We have seen the pictures earlier and have discussed the cabin/ seats earlier as well.

 

I want to see more pictures!! I know...I'm being greedy.

[badrul 0]

Sad news is we're not invited, but he/she did.

(*i mean i didn't at least)

 

So when this bird fly from LFBO/TLS, is it possible to track her using Flightaware or something else? Will she fly as 9M-MNA? What callsign?

 

agreed.... who ever invited is really is very very lucky ... spotting session anyone?

[Mohd Azizul Ramli 2]

Apparently MH can not afford the 6 A380s (+ 2 other A333s) and now demanding for the government to buy it for them and they will lease the aircraft instead via a third party company ala PMB.

 

 

 

MAS to raise over RM4b from bonds, loans

 

UPDATED @ 11:29:18 PM 22-05-2012

By Lee Wei Lian

May 22, 2012

 

KUALA LUMPUR, May 22 – Malaysia Airlines (MAS) unveiled details of its critical fund raising exercise today consisting of RM2.5 billion in Islamic bonds, RM2 billion in bridging loans from commercial banks and proposals for a new state entity to pay for RM5.3 billion of pending aircraft delivery and lease them to MAS rather than own the planes outright.

MAS said that should its plans fall short, it would fall back on its parent company, state asset manager Khazanah Nasional to step in to provide financial support in the form of an equity capital injection to finance any unfunded aircraft capex (capital expenditure) and also for working capital needs.

“Such financing would only be forthcoming if and when required and subject to targets to be agreed,” said MAS in a statement.

The airline, which posted its largest ever annual loss of RM2.5 billion in February, proposed to launch a 10-year sukuk programme of up to RM2.5 billion to shore up its capital base, and the proposed programme is currently pending regulatory approvals.

It also said that it secured a bridging loan of RM1 billion from a local commercial bank on 30 March to ensure adequate working capital cash until the expected drawdown of the first tranche of the proposed sukuk.

MAS also said that it is in discussions with the Ministry of Finance Inc (MoF) to lease six new Airbus A380s and two new Airbus A330s with a total capital value of RM5.3 billion from a special purpose vehicle (SPV), which would be wholly-owned by MoF Inc.

The SPV would issue bonds or Sukuk in the ringgit capital markets and be asset-backed or collateralized by the aircraft assets which it is financing and the operating cash flows generated from the assets are expected to repay the lease obligations over the tenure of the funding.

MAS would enter into a long-term obligation to lease the aircraft from the SPV and the operating risks and residual value risks of the aircraft assets would be borne by by the national carrier.

Five of the aircraft would be delivered in 2012, where the first two aircraft are to be delivered by end May and another three are to be delivered in the second half of 2012. The remaining three aircraft would be delivered in early 2013.

The carrier also secured a bridging loan of RM1 billion from a consortium of local banks to pay for the two aircraft due in May.

The capital expenditure (capex) bridging loan would be repaid by aircraft proceeds from the proposed funding SPV, which MAS said would hopefully take off in July.

MAS said that it is “confident” of raising the requisite funding for the remaining capex of 2012 from commercial sources, such as operating leases, finance leases and commercial debt.

It said that it received funding commitments and proposals from “numerous” third party financiers for the remaining aircraft capex obligations in 2012, and also for some capex obligation in 2013.

MAS reported losses of RM171 million after tax for its first quarter ending March 31, down 29 per cent reduction from the same period last year.

Operating losses were also trimmed by 10 per cent to RM307 million due to increased revenue of RM3.11 billion and reduced expenses of RM3.42 billion.

Its chief executive Ahmad Jauhari Yahya said this was due to “some tough decisions” in accordance with its turnaround plan.

[nrazmoor 0]

Are they asking for another SPV? why not use PMB like the previous arrangement? Or PMB cannot afford it as well??

[Josh T 0]

Well, a first quarter loss of only RM171 million is far better than what analysts were predicting and this is taking into consideration that the first quarter is usually the worst/softest quarter for MH. The analysts were expecting a loss of over RM300 million!

[Mohd Azizul Ramli 2]

Are they asking for another SPV? why not use PMB like the previous arrangement? Or PMB cannot afford it as well?

 

Actually there are currently 2 existing SPVs that MH leases its aircraft from. From the Bursa announcement:

 

- Penerbangan Malaysia Berhad, where MH incurred RM 58.2 million of aircraft hire charges

- Aircraft Business Malaysia Sendirian Berhad, where MH incurred another RM 60.4 million of aircraft lease charges

 

Interesting to note that MH uses different acquisition term with each company, "hire" is used for PMB, while "lease" is used for ABM. I believe both have different treatments and rates most definitely.

 

On the proposal to set up yet another SPV to lease the aircraft to MH, usually this is done to diversify risks since all of them (PMB, ABM and the proposed SPV) are directly or indirectly belong to the Ministry of Finance anyway.

[flee 5]

I suppose they have a mixture of operating and finance leases.

 

This is off balance sheet financing.

 

BTW, MH's fourth A380 has flown to Hamburg for interior fitting.

http://www.malaysianwings.net/forum/index.php?showtopic=17326&st=40&do=findComment&comment=305450

[Mushrif A 3]

Actually there are currently 2 existing SPVs that MH leases its aircraft from. From the Bursa announcement:

 

- Penerbangan Malaysia Berhad, where MH incurred RM 58.2 million of aircraft hire charges

- Aircraft Business Malaysia Sendirian Berhad, where MH incurred another RM 60.4 million of aircraft lease charges

 

Interesting to note that MH uses different acquisition term with each company, "hire" is used for PMB, while "lease" is used for ABM. I believe both have different treatments and rates most definitely.

 

On the proposal to set up yet another SPV to lease the aircraft to MH, usually this is done to diversify risks since all of them (PMB, ABM and the proposed SPV) are directly or indirectly belong to the Ministry of Finance anyway.

 

I think Hire is probably operating lease and lease is finance lease. The new SPV is likely to be finance lease as MH will be responsible for residual value risk.

[KK Lee 5]

MH is a virtual airline effectively.

[Johan Z 0]

Malaysian Airline Fits A380s With Widest Seats In The Sky

Malaysian Airline System Bhd. (MAS) has taken a 5-inch lead over Singapore Airlines Ltd.

That’s how much wider the carrier’s first-class seats will be than Singapore Air’s when it starts flying the Airbus SAS A380 in July. In total, passengers will have more space than on a single-bed mattress, with seats measuring 40 inches by 87 inches.

Enlarge image

Malaysian Air's Airbus A380. Photographer: P. Pigeyre/Airbus SAS via Bloomberg

Enlarge image

A Singapore Airlines flight attendant, prepares the double bed in the luxury class suite on a A380 superjumbo aircraft in Melbourne. Photographer: Carla Gottgens/Bloomberg

The new seats, costing about $9,000 for a round trip to London, will spearhead Malaysian Air’s push to win corporate and long-haul travelers after higher fuel prices and competition from budget carrier AirAsia Bhd. (AIRA) led to a 2.5 billion ringgit ($795 million) loss last year. Thai Airways International Pcl will also get its first A380s this year, adding a further challenge forSingapore Air.

“Malaysian Air has to improve on their premium services in order to be able to compete,” said Joshua Ng, an analyst at RHB Research Institute Sdn. in Kuala Lumpur. “There is a bit of national pride involved as well -- especially when you’re talking about competing with Singapore Air.”

The carrier, the eighth A380 operator, will start flights with the plane on July 1 with a trip to London. Daily services on the route will begin Aug. 25. Flights to Australia and another country will be added as more of the planes enter service, Anbarasu Sundram, a spokesman for the airline based in Subang outside Kuala Lumpur, said by phone. The last is due to arrive in February.

Widest Seats

Malaysian Air, controlled by state investment fund Khazanah Nasional Bhd., will fit its A380s with 494 seats. The eight first-class units, which will be on the lower deck, are wider than any seats listed on comparison website seatguru.com. The planes will also have 66 business-class seats on their upper floors and 420 coach seats divided between the two decks.

Yields, a measure of average ticket prices, are typically 5.5 times higher in first class than coach, compared with business-class’s 3.6 ratio, according to aviation consultant Rigan Doganis. The seats are also important in terms of marketing and for maintaining the loyalty of business travelers through potential upgrades.

“First-class is retained for prestige and brand, and as an incentive in the frequent flier-program,” said Andrew Wong, London-based regional director for TripAdvisor Inc. (TRIP)’s flights division, which owns seatguru.com. Few first-class passengers buy tickets themselves, he said.

Asian and Middle East carriers have kept first-class cabins, which have been largely eliminated by North American carriers, because of their greater focus on long-haul routes, he said. Emirates Airline, the largest A380 operator, has fitted showers in the premium cabins of its superjumbos.

More here..

[Mohd Suhaimi Fariz 2]

The future 9M-MNA is expected to arrive in KUL at 1400, May 30.

 

Anybody planning to go catch a glimpse?

[Suzanne Goh 0]

Sounds like a bit of marketing spiel. Unless MH has got a proper mattress planned - SQ Suites has them beat quality wise. By far the most comfortable bed I've ever had the chance to experience.....

[flee 5]

The future 9M-MNA is expected to arrive in KUL at 1400, May 30.

 

Anybody planning to go catch a glimpse?

Not sure.

 

Depends on what info is available on where it will land and taxi to. KLIA is darn difficult nowadays, with so many spotting locations no longer accessible.

[Arthur Van Straten 0]

@ KK Lee, Posted 23 May 2012 - 11:21 PM

 

KK, Herewith you have been awarded with the "quote of the month", on this forum.

 

Cheers

Art

[Mohd Suhaimi Fariz 2]

Not sure.

 

Depends on what info is available on where it will land and taxi to. KLIA is darn difficult nowadays, with so many spotting locations no longer accessible.

 

It will probably land on 32L & enter the hangar.

 

But MH Comms dept are looking for photographers who would like to cover the arrival - they will be given full access to the hangar & the tarmac area. If anyone's interested there are 5 spots - just e-mail your full details (contact, IC etc for MAB pass approval) to socialmedia.team@malaysiaairlines.com. It'll be on a first come, first served basis.

Edited May 25, 2012 by Mohd Suhaimi Fariz

[flee 5]

Oh tarmac!

 

This means we need our super wide angle (8-16mm) lenses too!

 

OK, if they are looking for photographers I think we at MWings can apply!

 

Thanks for the heads up!

[BC Tam 2]

Would that extra 5" width be of any advantage to the pax who is already comfortably accomodated in seats that do not boast such extravagant real estate ?

I thought I read somewhere that SQ had to bring in sort of seat pillows in the premium classes to cater for pax who found the seats a tad too wide for optimal comfort ?

An attempt by the marketing people to distract from fact that there will be no private suites fitted (on available evedence so far anyway) in my opinion

It's also easy to get distracted by the cleavage of that SQ flight attendant btw .......

Edited May 25, 2012 by BC Tam

[Suzanne Goh 0]

 

I thought I read somewhere that SQ had to bring in sort of seat pillows in the premium classes to cater for pax who found the seats a tad too wide for optimal comfort ?

 

Yes, on the 77W in J/F and 380 in J they added an extra square leather pillow to make it a bit more comfy. Was not necessary on the 380 in R.

[Lock SH 0]

According to my source, the A380 proving flights would be done on 04 Jun, , destination TBN.

 

 

[Ikman Ikreza 0]

According to my source, the A380 proving flights would be done on 04 Jun, , destination TBN.

 

 

 

Yup, my insider informer also informed me we can see MH A380 @ KLIA on 4th June.

[xtemujin 0]

Malaysia Airlines takes delivery of its first A380

Eighth operator of world's largest and most eco-efficient aircraft

29 May 2012 P

 

ress Release

 

Malaysia Airlines (MAS) has taken delivery of its first A380, becoming the eighth operator of the world’s largest and most eco-efficient airliner. The aircraft was handed over to MAS Group Chief Executive Officer Ahmad Jauhari Yahya by Airbus Chief Operating Officer Fabrice Brégier in Toulouse today.

 

Malaysia Airlines has ordered six A380s. Powered by Rolls-Royce Trent 900 engines, the aircraft feature a premium three class layout, with accommodation for a total of 494 passengers. Features include fully flat beds in First and Business Class, plus new wider seats in Economy. Seats in all classes are equipped with the latest individual in-flight entertainment systems, USB ports and satellite telephone facilities.

 

“The A380 showcases our latest premium offering in products and services. This will be our flagship aircraft, offering new levels of comfort, luxury and convenience for long haul travel,” said Ahmad Jauhari Yahya, MAS Group Chief Executive Officer. “With the A380 in our fleet, MAS will reinforce its position as one of the world’s preferred premium carriers bringing great Malaysian Hospitality to our customers.”

 

"We are extremely proud to welcome Malaysia Airlines as the latest operator of the A380," said Fabrice Brégier, Chief Operating Officer, Airbus. "The A380 has set new standards of comfort, fuel-efficiency and respect for the environment. The combination of these features and MAS’s world-famous in-flight service represents a winning formula, enabling the carrier to offer its passengers the best the industry has to offer.”

 

Since first entering service in 2007, the A380 has exceeded all expectations, flying more people further at lower cost, while significantly reducing carbon emissions. The spacious, quiet cabin and smooth ride have also made the A380 a firm favourite with passengers, resulting in higher load factors and increased profitability on all routes where the aircraft is operated.

 

Typically seating 525 passengers in a three class layout, the A380 is capable of flying 8,300 nautical miles or 15,300 kilometres. This enables non-stop service with a full payload from Kuala Lumpur to any destination in Europe or one-stop service to major destinations in the US.

 

http://www.airbus.co...its-first-a380/

Edited May 29, 2012 by xtemujin

[Muhammad Othman 0]

Looks like the A380 will arrive in KUL in incomplete livery. How dissappointing

Edited May 29, 2012 by Muhammad Othman

[Mohd Suhaimi Fariz 2]

Looks like the A380 will arrive in KUL in incomplete livery. How dissappointing

 

Any further delay & you will delay the EIS - better to get through all the proving flights out of the way first then worry about painting the livery.