A review of civil aviation business dynamics in the week (2006.08.14-08.27)

This week, there are many things about private aviation. In particular, the incident of the Eagle Alliance has cast a shadow over the private aviation in distress.

As the rising oil prices have brought great pressure on airlines, low-cost aviation has been hit hard. In the private aviation, Chunqiu Airlines, which was initially committed to "cheap airlines", was forced to cancel its 99- yuan special fare due to the pressure on jet fuel costs . However, for Spring Airlines, the pressure brought by oil prices also has good news: Spring Airlines has increased its capital by 70 million yuan . The additional funds are mainly used for aircraft leasing and the opening of new routes. This shows that shareholders have always had confidence in the development of Spring Airlines. For the first private aviation company, Yinglian Airlines, it is not so lucky. There are indications that Eagle United Airlines Co., Ltd., which was established only for more than two years, is in a crisis. Following the series of incidents such as the expulsion of the CEO and the resignation of the vice chairman, Yinglian Airlines broke out a series of financial scandals. Since the entrusted loans and interest payments of more than 14 million yuan were not returned, Yinglian Airlines has been consulted by Wei Da (Shanghai). The company sued . The main shareholder of Eagle - China Guoan Culture Communication Co., Ltd. will invest in subsequent Eagle court. Eagle after the first in July 2005 and November with Vickers and OCBC Singapore (Shanghai) Branch signed a loan agreement, agreed Vickers entrusted loans to banks by a total of Eagle 9.28 million yuan. After the loan contract expires, the Eagle Alliance will neither return the loan nor announce the whereabouts of the funds. Eagle defendant raises a series of investments the company's identity problem. Established in 2004 , Yinglian Airlines announced two legal person shareholders, Guangdong Yinglian Investment Co., Ltd. and China Guoan Cultural Communication Investment Co., Ltd. What is the identity of Wei Dao? Shanghai Wei Dao is a wholly-owned subsidiary of Singapore Vodafone Financial Group. It is reported that this Singapore company is actually one of the actual investors of the Eagle Alliance. In this way, the Eagle Alliance obviously has a strong foreign investment background, and domestic civil aviation has a clear stipulation that foreign capital may not wholly fund the establishment of airlines. Although the current living conditions of private aviation are not satisfactory, the expectation of future development has attracted a lot of private capital to join. Zheshang Civil Aviation “ Jixiang Airlines ” continued to be in the process of preparations . The Civil Aviation Administration of China has issued the “Notice on Shanghai Auspicious Aviation Co., Ltd. Applying for Public Air Transport Enterprise Business License”. " This means that the preparatory work for Jixiang Airlines has been basically completed. As long as the public air transport enterprise business license and operation certificate issued by the Civil Aviation Administration of China is obtained, it can be officially operated. Due to the attack of state-owned airlines and other private airlines, they The airlines that are too competitive will not be considered, and reasonable planning will be made according to the layout. Some people will join and withdraw . The Kunlun International Aviation Co., Ltd. , which is under construction , has submitted an application a few days ago to cancel the company's preparatory project and become the first to cancel the preparation. The private airlines. The aviation industry analysts analyzed that the aviation industry's profit and loss pressure may be one of the reasons for Kunlun's exit. The aviation industry is originally a highly indebted industry, and the use of funds is too large. At present, the competition on various routes is fierce and the financial strength is not strong. If the airlines are not well-managed, there will be a problem of capital chain breakage. At the same time, this year's jet fuel has soared, and China Eastern Airlines, China Southern Airlines, Shanghai Airlines, etc. have all suffered losses, which is extremely stressful for a new airline.

Other airlines:

Under the pressure of high oil prices, Hainan Airlines still achieved a profit of 20.8 million yuan in the first half of the year. With an increase of 102.29%. In the first half of 2006 , Hainan Airlines passenger traffic was 6.172 million, an increase of 15.73% ; cargo and mail transportation was 83,500 tons, an increase of 20.51% ; total transportation turnover was 968 million tons, an increase of 19.99% . This is also unique among the airlines that lost money in the first half of the year. At the same time, Hainan Airlines’ parent company , Daxinhua , opened a public offering in Hong Kong to seek strategic investors , with an initial public offering of US$ 1 billion. According to sources, a number of airlines, including Air Australia, Air France, Air Canada, Lufthansa and Korean Air, have held talks with Daxinhua, and private equity funds have expressed their intentions. Daxinhua hopes that by listing in Hong Kong, competing with Cathay Pacific and Dragonair's international and mainland routes, and using the training, uniforms and catering supply in the Mainland, it can reduce costs. This is a good strategy. In the Shanghai-based East China's Shanghai Airlines will become the first Chinese official member of Star Alliance in the near future. The reason why Star Alliance chose Shanghai Airlines is inseparable from its position as the main base company of Shanghai Airlines Hub Port. Shanghai Airlines takes Shanghai as its hub, and its routes cover more than 40 domestic destinations and more than 10 international destinations. It plays a very important role in the Yangtze River Delta region. In terms of Air China is not ideal because of the purchase under the net and reduces the A-share issue size, Air China hopes to make up the shortfall by financing short-term bonds and long-term external debt, of which short-term financing bonds issued 2 billion yuan. At the same time, the board of directors approved the company's pilot apartment as a mortgage for the Spanish government loan project: According to the relevant memorandum signed between the Chinese government and the Spanish government, Air China obtained a loan of 30.543 million euros from the Spanish government, and the loan repayment period is up to 30 years. The pilot apartment is the collateral for the loan.

In terms of jet fuel and fuel surcharges:

Domestic airlines and oil companies on aviation fuel "net price" negotiations on the floating rate, it has been settled in southern China, neither go up nor down, still perform this year, April 1 Civil Aviation Administration airports specified " Guide price " . In eastern China, the airline is still negotiating with the oil companies did not result, oil companies require "net price" go up 8%, while the airline has made "could not agree on" the grounds of non-payment. In March of this year , the Civil Aviation Administration issued the Notice on the Reform Plan of Aviation Kerosene Sales Price (Trial). According to the reform plan, domestic airlines purchase jet fuel is no longer a national uniform price, but different sales according to different airports. The difference, and the airline can also have 8% of the floating space for negotiations with the oil company on the basis of the prescribed price difference . The negotiations still require patience and compromise from both sides before an agreement can be reached. A direct result of rising oil prices fuel surcharges continue to levy and "price." The State Council approved the National Development and Reform Commission and the Civil Aviation Administration recently issued a circular, since September 1, 2006 to improve the aviation fuel surcharge for domestic flights charged at the standard. 800 km The following segments will be increased from RMB 30 to RMB 60 per passenger , 800 and 800 km The above segment was increased from 60 yuan per passenger to 100 yuan. The above adjustments are based on the flight schedule, and passengers who have purchased tickets in advance will not be replenished. The additional standard for passenger transportation fuel on domestic routes has finally been raised again, and it is one month ahead of the expected October . On the one hand, this will increase the airline's revenue, hedge the fuel costs, and ease the pressure on domestic airlines. On the other hand, some people say that after accounting on the jet fuel, the airlines only make a profit. In the end, who is true and who is not, as a passenger, there is no way to judge, because they have only one choice - paying money.

Airport construction:

   The balance of the Pearl River Delta Airport was once again broken . Entering the civil aviation market in the Pearl River Delta in August , competition and cooperation are in turmoil. The Hong Kong Airport Authority has obtained the 20- year operation right of Zhuhai Airport . At the same time, the Hong Kong-Zhuhai-Macao Bridge project has recently obtained a " key breakthrough " , which has made the location advantage of Zhuhai Airport stand out. At the same time, Shenzhen Airport also demonstrated its strong edge: Jade, Donghai, two Shenzhen-based all-cargo airlines officially sailed, and a plane landed . Including Hong Kong, Macao, the Pearl River Delta is China's aviation market is undoubtedly the greatest generation, the region in terms of economic development, industrial structure or from industrial facilities, the next 10--15 years, this area still maintain relatively strong growth potential. Hong Kong Airport and Guangzhou Airport are full of confidence in the medium and long-term passenger transportation business, both of which plan to reach 80 million passengers each. Then, there are nearly 50 million passengers that need to be diverted and digested by airports in Shenzhen, Zhuhai and Macau. The five airports are full of opportunities and challenges.

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