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UK Global Airlines Pursues Investment from Saudi Arabia

June 5, 2025By ePlane AI
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UK Global Airlines Pursues Investment from Saudi Arabia

UK Global Airlines Pursues Investment from Saudi Arabia

Strategic Investment Talks and Growth Ambitions

Global Airlines, a British start-up headquartered at London City Airport, is reportedly in discussions with Saudi Arabia’s Kingdom Holding Company regarding a potential investment. According to Aviation Week, this funding could enable the airline to expand its Airbus A380-800 fleet from a single aircraft to four, marking a significant milestone in its growth strategy.

While Global Airlines has acknowledged ongoing conversations with various financial partners about its future, it has neither confirmed the involvement of Kingdom Holding Company nor disclosed details of other potential investors. Both parties have declined to comment on inquiries, leaving the specifics of the negotiations undisclosed. Speculation has arisen that the investment might lead Global Airlines to shift its focus from scheduled transatlantic flights to the ACMI (Aircraft, Crew, Maintenance, and Insurance) market, particularly servicing Hajj operations. The airline has firmly denied these claims, reaffirming its commitment to becoming a scheduled carrier. In a recent statement, Global Airlines emphasized its dedication to its original vision despite the challenges ahead, rejecting any pivot toward an ACMI business model.

This development follows an earlier announcement that Knighthood Global, a consultancy and investment firm, plans to acquire a stake in Global Airlines. Knighthood Global has been engaged to provide strategic advice and support, underscoring the airline’s efforts to strengthen its financial and operational foundation.

Ownership, Operations, and Future Prospects

Currently, Ihtg Limited (formerly Holiday Swap Group Limited) holds a majority stake exceeding 75% in Global Airlines. James Asquith, the airline’s founder and CEO, is the principal owner of Ihtg Limited, while the identities of other shareholders remain undisclosed.

Global Airlines commenced operations with its inaugural flight from Glasgow International to New York JFK on May 15. As the airline has yet to secure a UK Air Operator Certificate (AOC), this flight was operated by its ACMI partner, Hi Fly Malta. Following a second rotation between Manchester and New York, the airline’s sole Airbus A380-800 (registration 9H-GLOBL, msn 120) was ferried to Dresden on May 26, where it currently remains in storage.

Looking ahead, Global Airlines aims to obtain its own UK AOC to operate scheduled services independently, a critical step toward establishing itself as a full-fledged scheduled carrier. The pursuit of strategic investments, including the potential partnership with Kingdom Holding Company, is central to accelerating this ambition.

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Airbus Commercial Aircraft Deliveries Fall Short Again in May

Airbus Commercial Aircraft Deliveries Fall Short Again in May

Airbus Commercial Aircraft Deliveries Fall Short Again in May Airbus reported another decline in commercial aircraft deliveries in May, handing over 51 jets to customers. This figure is two fewer than in May 2024 and five less than in April, underscoring ongoing challenges for the European aerospace giant. For the first five months of 2025, total deliveries reached 243 aircraft—a 5% drop compared to the same period last year. Mixed Performance Across Aircraft Families The delivery downturn was most pronounced in the A320neo family, historically Airbus’s best-selling line. Only 11 A320neo jets were delivered in May, nearly all to Chinese airlines. Year-to-date, 63 A320neos have been delivered, marking a steep 34% decline from the previous year, with 32 fewer aircraft reaching customers. In contrast, the A321neo showed resilience, with 120 units delivered so far in 2025—seven more than last year. The A220 family was the sole bright spot, with 29 deliveries so far this year, representing a robust 38% increase. Widebody models continued to struggle: A330 deliveries fell by 10%, and A350 deliveries slipped by 6% compared to the same period in 2024. Supply Chain Strains and Market Impact Persistent supply chain disruptions have hampered Airbus’s production capabilities, contributing to the delivery shortfalls. These operational challenges have not only delayed aircraft handovers but also weighed on the company’s financial performance, leading to a decline in market value and a drop in Airbus’s stock price. The situation is further complicated by intensifying competition from emerging manufacturers such as China’s COMAC, which is seeking to expand its presence in the global commercial aviation market. Outlook and Order Activity Despite the disappointing delivery figures, Airbus is maintaining its 2025 guidance, which targets 880 commercial aircraft deliveries for the year. CEO Guillaume Faury acknowledged the difficulties facing the company in the first half of 2025 but expressed confidence in a stronger performance in the latter half as supply chain issues are addressed. In May, Airbus did not announce any new aircraft orders but disclosed 17 previously unidentified deals. Notable updates include: - Two A220-100s for Air Niugini of Papua New Guinea - An increase in Bocom Leasing’s A320neo order from 41 to 42 aircraft - Chengdu Airlines’ total order rising to 12 aircraft - Six new A350-1000 orders from British Airways, supplementing its existing fleet of 18 widebodies - Iberia, part of IAG Group, increasing its A350-900 orders from 23 to 29 - KLM adding another A320neo as part of the broader Air France-KLM order As Airbus navigates ongoing production headwinds and a shifting competitive landscape, the company’s ability to resolve supply chain bottlenecks and ramp up deliveries will be critical to meeting its annual targets and restoring investor confidence.
Delivery Data Indicates Progress for Boeing’s MAX

Delivery Data Indicates Progress for Boeing’s MAX

Delivery Data Indicates Progress for Boeing’s MAX For much of the recent past, news surrounding Boeing’s MAX program has been a source of concern. Yet, recent developments suggest a shift in momentum. Changes implemented after the company’s leadership transition and the resolution of a labor strike appear to be yielding results. Reports now confirm that Boeing’s production rates are on the rise—a positive sign for the embattled manufacturer. While increased production is encouraging, the real measure of progress lies in deliveries, which directly impact Boeing’s cash flow. Delivery data by MAX model shows a steady uptick, indicating that the company is not only building more aircraft but also successfully moving them to customers. This progress is being closely watched by competitors and the broader market. Rival manufacturers may respond with price adjustments or by accelerating new product launches to maintain their market positions. The market’s reaction to Boeing’s improved delivery performance will likely hinge on ongoing perceptions of safety and reliability. If confidence in the MAX continues to recover, Boeing could regain market share, prompting competitors to reassess their strategies. As always, the data tells the story. Boeing’s recent delivery figures suggest that the company’s corrective actions are taking hold. However, the competitive landscape remains dynamic, with both Boeing and its rivals poised to adapt to shifting market conditions.
Airbus Confirms 12 A350 Orders for IAG in May Despite No New Orders

Airbus Confirms 12 A350 Orders for IAG in May Despite No New Orders

Airbus Confirms 12 A350 Orders for IAG in May Despite Absence of New Deals Airbus reported no new aircraft orders in May, according to its latest orders and deliveries update. Despite the lack of fresh deals, the European manufacturer confirmed that International Airlines Group (IAG) is the customer behind a previously undisclosed order for 12 A350s, even as the company faces ongoing supply chain challenges and production delays affecting the A350 program. IAG Order Clarified Amid Order Book Stability On June 5, Airbus announced that its net orders for 2025 remain unchanged at 215 aircraft, with no new orders or cancellations recorded in May. The company also clarified that a March 6 order for six A350-900s and six A350-1000s—previously listed under an undisclosed customer—was placed by IAG for its subsidiaries British Airways and Iberia. IAG had already revealed this order in its first-quarter results on May 9, alongside plans to acquire 34 A330-900s (21 firm, 13 options) and 42 Boeing 787-10s (32 firm, 10 options). However, the A330-900 order has yet to appear in Airbus’s official backlog. Additionally, Airbus recorded an order from another undisclosed customer for 13 A320neo and 17 A321neo aircraft on the same day, though the airline’s identity remains confidential. Despite confirming the IAG A350 order, Airbus continues to grapple with supply chain disruptions and production delays, particularly for the A350 line. These challenges could provide opportunities for competitors to capitalize on Airbus’s constrained output. Deliveries Continue, Highlighted by Wizz Air’s First A321XLR In May, Airbus delivered 51 aircraft to customers worldwide, maintaining momentum despite order stagnation. Deliveries included: - 1 A220-100 to Comlux (private aviation) - 4 A220-300s - 1 A319neo (Air China’s first) - 11 A320neos - 28 A321neos - 3 A330-900s - 3 A350-900s A notable milestone was Wizz Air’s receipt of its first A321XLR, registered as G-XLRA. Delivered to Wizz Air UK and arriving at London Luton Airport on May 20, the aircraft soon entered commercial service, operating flights from London Gatwick to Athens and Jeddah. Several US airlines, including Breeze Airways, Delta Air Lines, Frontier Airlines, JetBlue, and Spirit Airlines, also took delivery of new Airbus jets in May. However, some US carriers, notably Delta and Spirit, have voiced concerns about the future of their Airbus backlogs amid ongoing EU-US trade tensions rooted in policies from the Trump administration. Despite these uncertainties, Delta received four new aircraft in May, including one A321neo, reflecting continued demand. Outlook While Airbus’s order book remained static in May, the confirmation of IAG’s A350 order underscores sustained demand for widebody aircraft. However, persistent supply chain issues and production delays—especially for the A350—pose ongoing challenges for the manufacturer, potentially opening the door for rivals to gain ground.
Texarkana College and FAA Safety Team Recognize Aviation Excellence at Regional Airport

Texarkana College and FAA Safety Team Recognize Aviation Excellence at Regional Airport

Texarkana College and FAA Safety Team Recognize Aviation Excellence at Regional Airport The Little Rock FAA Safety Team (FAASTeam), in partnership with Texarkana College’s Aviation Technology program, will hold a ceremony on June 20, 2025, at 10:00 AM to honor distinguished contributions to the field of aviation. The event will take place at the Texarkana College Department of Aviation Hangar, located at 60 Globe Avenue, Texarkana, Arkansas. During the ceremony, the prestigious Wright Brothers Master Pilot and Charles Taylor Master Mechanic Awards will be presented to pilots and mechanics whose careers have significantly influenced the region’s aviation heritage. Honoring Distinguished Aviation Professionals The ceremony will be led by Jamie Black, FAASTeam Program Manager at the Little Rock Flight Standards District Office. Recipients of the Wright Brothers Master Pilot Award include Jim Collom, Randy Williams, Tevis Pappas, Gary Walker, and Jerry Browning. This award recognizes pilots who have accumulated 50 or more years of experience in piloting and aircraft operations, celebrating the pioneering spirit of Orville and Wilbur Wright. The Charles Taylor Master Mechanic Award will be bestowed upon Jim Collom, Randy Williams, and Perry Hodgson. Named after the Wright brothers’ mechanic who engineered the engine for their first successful aircraft, this award honors mechanics with at least 50 years of civil or military maintenance experience. Strengthening Aviation Education and Workforce Development Texarkana Regional Airport, established in 1928 and regarded as the premier maintenance relief airport in the Ark-La-Tex region, continues to uphold a tradition of excellence by supporting both veteran professionals and emerging aviation talent. Thirty-four students from Texarkana College’s recently launched Airframe and Powerplant (A&P) program will attend the ceremony, drawing inspiration from the award recipients and reinforcing the airport’s reputation for cultivating skilled aviation mechanics. Brandon Sanders, Director of Aviation Technology at Texarkana College, emphasized the significance of the event for students, stating, “This event is a unique opportunity for our students to connect with the legacy of excellence fostered at Texarkana Regional Airport. It aligns with our mission to provide high-quality education that prepares students for impactful careers in aviation maintenance.” The introduction of the A&P program at Texarkana College reflects a broader commitment to advancing aviation education and workforce development in the region. While the program’s growth may intensify competition among aviation training providers, it also promises to expand the local pool of skilled workers, benefiting area businesses. Competing institutions may respond by enhancing their own offerings to attract students and forge industry partnerships. Despite these evolving dynamics, the collaboration between Texarkana College and Texarkana Regional Airport continues to reinforce the region’s status as a hub for aviation maintenance, repair, and overhaul (MRO) services. The upcoming ceremony not only celebrates individual achievements but also highlights the collective efforts propelling the region’s aviation sector forward. Members of the aviation community and media are invited to attend the ceremony to honor these exemplary professionals and support the ongoing pursuit of aviation excellence in Texarkana.
Riyadh Air Plans to Acquire Airbus A350-1000 as Flagship Aircraft

Riyadh Air Plans to Acquire Airbus A350-1000 as Flagship Aircraft

Riyadh Air to Select Airbus A350-1000 as Flagship Aircraft Riyadh Air is preparing to finalize a significant fleet decision, with industry insiders reporting that the Saudi Arabian startup will designate the Airbus A350-1000 as its flagship aircraft. The anticipated order, expected to be formally announced at the Paris Air Show in June 2025, could involve the acquisition of approximately 50 A350s. This move represents a major milestone in the airline’s ambitious expansion strategy as it prepares to launch operations later that year. The airline has already placed substantial orders for up to 72 Boeing 787-9s and as many as 60 Airbus A321neos. However, Riyadh Air has been assessing an additional wide-body aircraft to serve as the cornerstone of its long-haul network, with its options narrowed to the Airbus A350 and the Boeing 777X. Strategic Selection: Airbus A350-1000 Versus Boeing 777X Riyadh Air’s preference for the A350-1000 over the Boeing 777X reflects a combination of operational considerations and market conditions. The A350-1000, the largest variant in the A350 family, offers an advantageous blend of long-range capability, high passenger capacity, and efficient operating costs—critical attributes for a carrier targeting rapid international growth. Conversely, the Boeing 777X has encountered significant certification delays, now approximately six years behind schedule. For a nascent airline like Riyadh Air, the uncertainty surrounding the 777X’s entry into service poses a considerable risk. This high-profile decision is attracting considerable attention within the aviation industry. Market analysts suggest that Riyadh Air’s move may trigger competitive responses from rival carriers, including potential fare adjustments and revised marketing strategies, as airlines compete for market share in the increasingly contested Middle Eastern aviation sector. The choice is also expected to influence future aircraft procurement trends and intensify the ongoing rivalry between Airbus and Boeing in the region. Fleet Composition and Passenger Experience While Riyadh Air will initially operate Boeing 787-9s, the A350-1000 is set to become the airline’s premier aircraft, deployed on its most critical long-haul routes. The airline recently revealed the cabin design for its Boeing 787 fleet, which notably excludes a first-class section. In contrast, the A350 will feature a first-class cabin, highlighting its role as the flagship product within Riyadh Air’s fleet. The airline has made significant commitments to elevating passenger experience, aiming to establish new benchmarks in service and comfort. Supported by robust financial resources and a carefully devised strategy, Riyadh Air is positioning itself as a formidable new entrant in the global aviation market. Industry observers are closely monitoring how the airline’s strategic choices will influence both its own development and the broader competitive landscape. Outlook Riyadh Air’s expected order of around 50 Airbus A350s, predominantly the A350-1000 variant, will complement its existing mix of Boeing and Airbus narrow-body and wide-body aircraft. The forthcoming announcement at the Paris Air Show will not only clarify Riyadh Air’s fleet development plans but also signal evolving dynamics within the Middle Eastern aviation market, as competitors and manufacturers respond to this significant strategic initiative.
VAI Calls for Prompt FAA Review of Low-Altitude Vertical Flight Routes

VAI Calls for Prompt FAA Review of Low-Altitude Vertical Flight Routes

VAI Urges Swift FAA Action on Low-Altitude Vertical Flight Routes, Citing Industry and Market Implications Vertical Aviation International (VAI) has urged the Federal Aviation Administration (FAA) to expedite the implementation of new rules supporting low-altitude instrument flight rules (IFR) operations for rotorcraft and powered-lift aircraft. Testifying before the U.S. House Subcommittee on Aviation during the hearing “FAA Reauthorization Act of 2024: Stakeholder Perspectives on Implementation One Year Later,” VAI emphasized the critical need for timely action on Section 627 of the 2024 FAA Reauthorization Act. Cade Clark, VAI’s chief government affairs officer, highlighted that Section 627 mandates the modernization of low-altitude IFR routes using performance-based navigation. He called on the FAA to prioritize this initiative, especially in high-density airspace, and to integrate these efforts with broader air traffic control modernization. “Implementing Section 627 is a critical step toward ensuring that rotorcraft and powered-lift aircraft can operate safely, predictably, and efficiently in increasingly congested and complex airspace,” Clark stated. He added that these changes would also pave the way for integrating advanced technologies and next-generation vertical flight aircraft into a modern, performance-based airspace system. Clark’s testimony also underscored the essential role of vertical flight aircraft in public safety and emergency response, noting that nearly 1,000 helicopters were contracted for federal wildfire response missions in 2024 alone. He stressed that reliable low-altitude IFR routes are vital for disaster response, firefighting, medical evacuations, and infrastructure resilience. VAI’s call for prompt FAA action comes at a time when the industry is closely watching regulatory developments. The association’s advocacy may prompt competitors to reassess their strategies, as the modernization of IFR routes could reshape operational standards and market dynamics. Industry observers note that increased scrutiny from both regulators and market participants is likely, with the FAA’s review potentially influencing future regulations for vertical flight operations. VAI reaffirmed its commitment to collaborating with Congress, the FAA, and industry stakeholders to ensure that Section 627 is implemented with urgency, transparency, and technical precision. The association emphasized that swift action is necessary to meet expanding public service and commercial demands, and to maintain the safety and efficiency of the national airspace as new technologies and aircraft enter the market.
Airbus Records No Commercial Aircraft Orders in May 2025

Airbus Records No Commercial Aircraft Orders in May 2025

Airbus Reports No Commercial Aircraft Orders in May 2025 Amid Industry Uncertainty Airbus reported zero commercial aircraft orders for May 2025, according to its latest monthly update, marking an unusual pause for the European aerospace giant. The company did not specify reasons for the lack of new orders, but industry analysts suggest Airbus may be holding back announcements ahead of the International Paris Air Show later this month, where major deals are often unveiled. The absence of new orders comes at a time of heightened uncertainty in the global aviation sector. Economic headwinds and ongoing geopolitical tensions are weighing on airlines’ fleet planning and investment decisions. This environment has raised concerns among investors about the potential for prolonged stagnation in aircraft demand, with some market watchers warning that competitors like Boeing could seize the opportunity to gain ground if Airbus’s order momentum falters. Deliveries Decline as Supply Chain Issues Persist In addition to the order update, Airbus disclosed that it delivered 51 aircraft to 32 customers in May 2025. This figure represents a slight decrease from May 2024, when 53 aircraft were delivered to 43 customers, and a more pronounced drop from May 2023’s 63 deliveries to 36 customers. The year-on-year decline from May 2024 to May 2025 amounts to a 4% reduction in deliveries. Despite the subdued order activity, Airbus achieved several notable milestones last month, including the delivery of Wizz Air’s first A321XLR and Kuwait Airways’ inaugural A321neo. However, total deliveries for the year so far stand at 243 aircraft, leaving the company well short of its annual target of approximately 820 commercial jets. Industry Faces Ongoing Headwinds Both Airbus and its main rival, Boeing, continue to grapple with significant challenges in meeting production and delivery targets. Persistent supply chain disruptions, particularly shortages of aircraft engines, remain a major bottleneck affecting output. These issues reflect broader pressures across the aerospace industry as manufacturers work to recover from the lingering effects of the COVID-19 pandemic and adapt to shifting market dynamics. As the sector looks ahead to the Paris Air Show, all eyes will be on whether Airbus can reverse its recent order drought and reassure investors about its long-term growth prospects amid a complex and evolving global landscape.
The Capabilities of the Boeing 777

The Capabilities of the Boeing 777

The Capabilities of the Boeing 777 The Boeing 777 stands as a remarkable achievement in modern aviation, exemplifying power, innovation, and efficiency. While regional jets demonstrate the advances of contemporary engineering, few aircraft match the scale and capability of the 777. Jet engines have transformed air travel, enabling the transport of hundreds of passengers across continents within hours. Although four-engine aircraft such as the Boeing 747 and Airbus A380 have traditionally dominated long-haul intercontinental routes, the Boeing 777 distinguishes itself through its exceptional twin-engine performance. Power and Efficiency Redefined The Boeing 777 is powered by two General Electric GE90 turbofan engines, the most powerful ever installed on a commercial airliner. This engineering milestone has established the 777 as the most capable twin-engine jet in operation, setting new standards in fuel efficiency, range, and passenger capacity. Boeing’s ongoing commitment to this platform is evident in the development of the next-generation 777X, which builds upon the success of earlier models and is anticipated to influence the future of high-capacity aviation. Design, Development, and Evolution Initiated in 1990 through collaboration with eight major airlines, the Boeing 777 was conceived to fill the gap between the smaller 767 and the larger 747, while replacing aging trijet models such as the Douglas DC-10. The aircraft’s maiden flight occurred in June 1994, and it entered commercial service with United Airlines in 1995. Since then, the 777 has become Boeing’s flagship long-range widebody aircraft, particularly following the phase-out of the 747. The 777 incorporates several key design features that contribute to its performance and reliability. These include the largest engines ever fitted to a commercial jet, raked wingtips that enhance aerodynamic efficiency, six-wheel main landing gear for improved stability, a circular fuselage combined with a composite tail structure, and advanced fly-by-wire control systems. Early variants like the 777-200 and 777-300 were succeeded by longer-range and stretched versions, all benefiting from continuous advancements in engine technology. Notably, the GE90 engines on models such as the 777-300ER and 777-200LR generate over 110,000 pounds of thrust, enabling unparalleled operational capabilities. The Future: Boeing 777X and Market Influence The forthcoming Boeing 777X represents the third generation of the 777 family, featuring innovative composite folding wings and the new GE9X engines. Designed to accommodate between 301 and 368 passengers in a typical three-class configuration, the 777X offers a maximum range of up to 8,555 nautical miles. It is scheduled to enter service in 2026. By April 2025, Boeing had secured more than 2,300 orders and delivered over 1,700 units, making the 777 the best-selling widebody jet in history. Boeing’s advancements with the 777 have prompted responses from competitors, who are pursuing their own technological innovations, strategic market initiatives, and acquisitions to remain competitive. These developments are reshaping market dynamics, influencing demand patterns and pricing structures. Boeing continues to face challenges from emerging entrants and must adapt its strategies to sustain its leadership position in an increasingly dynamic aviation industry. The Boeing 777’s combination of power, efficiency, and adaptability ensures its enduring significance amid evolving market conditions and intensifying competition.
TP Aerospace Signs Agreement with Supernova for Wheels and Brakes

TP Aerospace Signs Agreement with Supernova for Wheels and Brakes

TP Aerospace Secures Long-Term Wheels and Brakes Deal with Supernova Airlines TP Aerospace has entered into a long-term cycle flat rate (CFR) agreement with Ukrainian cargo carrier Supernova Airlines to provide wheels and brakes support for the airline’s forthcoming Boeing 737NG freighter operations. The partnership represents a significant step in Supernova’s expansion strategy and further strengthens TP Aerospace’s footprint in Eastern Europe’s aviation sector. The agreement, now in effect, is being serviced primarily from TP Aerospace’s newly EASA-approved 10,000 m² flagship facility in Brno, Czech Republic. This site, which received final approval in December 2023, serves as a central hub for the company’s European operations and will play a crucial role in meeting Supernova’s fleet requirements. Supernova Airlines, a subsidiary of the Nova Group, was established in 2021 and commenced official operations after obtaining its Ukrainian operator’s certificate in early 2023. The airline currently operates within the EU, with hubs in Riga and Warsaw, and is positioning itself for further growth in the European cargo market. Igor Lazniuk, Technical Director at Supernova, emphasized the value of the new partnership: “Their expertise and capabilities will be instrumental in ensuring the reliability and efficiency of our operations as we continue to grow.” The CFR programme is designed to deliver predictable maintenance costs and improved operational efficiency for Supernova’s fleet. However, the agreement comes at a time when the aviation supply chain faces ongoing turbulence and heightened market competition. Industry rivals may respond by bolstering their own supply chain resilience and investing in advanced technologies to maintain a competitive edge. Despite these challenges, the broader market is showing signs of recovery, with rising demand for aircraft support services fueling industry growth. The collaboration between TP Aerospace and Supernova positions both companies to capitalize on these trends, aiming for sustained success in the evolving European cargo sector.
SriLankan Airlines Receives First New Widebody Aircraft in Seven Years

SriLankan Airlines Receives First New Widebody Aircraft in Seven Years

SriLankan Airlines Welcomes First New Widebody Aircraft in Seven Years SriLankan Airlines has received its first new widebody aircraft in seven years, marking a significant milestone for the financially troubled national carrier. The Airbus A330-200, registered as 4R-ALT (msn 1261), arrived in Colombo on June 3 under an eight-year lease from Carlyle Aviation Partners. The 260-seat, two-cabin aircraft, previously operated by Fly Gangwon and Garuda Indonesia, is expected to provide a much-needed capacity boost as the airline grapples with a depleted fleet and ongoing financial instability. Chairman Sarath Ganegoda described the arrival as a crucial step forward, acknowledging that previous decisions to cancel widebody orders and persistent engine shortages had left SriLankan Airlines struggling to maintain its route network. “It’s not easy for us to compete with other airlines with our [existing] hardware,” Ganegoda told Channel News Asia. “We can’t afford to go for brand new state-of-the-art aircraft.” He confirmed that negotiations are underway to acquire at least two more aircraft by the end of the year, though he did not specify the models. The airline’s financial challenges have made it difficult to secure aircraft in a competitive leasing market. Former CEO Richard Nuttall previously noted that a lack of available cash and poor financial standing limited SriLankan’s ability to expand its fleet, despite the existence of profitable routes that remain unserved. Ganegoda echoed this sentiment, stating, “Even this [delivery] is not sufficient. As per our plan, we’ll add at least two more aircraft by the end of this year, if everything goes well.” In April 2024, the previous government approved a proposal to lease four A330s—two from ORIX Aviation and two from Aergo Capital—but the decision was later cancelled without explanation. Earlier, a 2013 fleet renewal campaign involving orders for four A350-900s and six A330-300s was derailed by procurement irregularities; the A350s were never delivered, and the A330s eventually joined the fleet via leases. Ganegoda is now seeking compensation from Airbus over the cancelled A350 order. Currently, SriLankan Airlines operates a fleet of 23 leased aircraft: seven A320-200s, two A320-200Ns, four A321-200Ns, three A330-200s, and seven A330-300s. The airline has faced difficulties replacing aircraft as leases expire, resulting in a shrinking fleet and limited growth opportunities. “There is a dearth of aircraft,” Ganegoda said. “We can’t add them per our plans and wishes.” Despite these setbacks, SriLankan Airlines aims to double its fleet within the next five years as part of its medium- to long-term strategy. The arrival of new widebody aircraft could help the airline regain market share and improve its competitive position, especially as rivals may respond by enhancing their own services. Positive market reactions are possible if SriLankan demonstrates clear progress toward financial recovery. The airline’s future is also drawing increased attention from the Sri Lankan government. President Anura Kumara Dissanayake has shifted oversight of the carrier from the Ministry of Ports, Shipping, and Aviation Services to the Ministry of Finance, signaling a renewed focus on the airline’s turnaround and long-term viability.
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