p26 air nov28 25/11/08 11:04 Page 26
Air
Chris Gray
020 7921 8003
cgray@ttglive.com
For the latest news about flights, airlines and airports, visit ttglive.com/air
‘Airlines at risk of
$20bn shortfall’
Chris Gray.
business but what is different this time is the real
AIRLINES are facing a $20 billion shortfall next liquidity crisis that is prevalent in the market
year in funds they need to pay for aircraft they for aircraft ordered in the boom times to be
ordered before the credit crunch dried up delivered between 2009 to 2011.”
sources of finance. Tyler said that the same difficulties in
The shortfall could force manufacturers such raising money would hit anyone trying to start
as Boeing and Airbus to lend airlines money up new airlines to step into the gap left by the SKI SATURDAY: Air Southwest has teamed
to buy their own aircraft simply to keep their collapse of XL Airways. up with Harvey World Travel to offer ski
factories running, warned Graham Tyler, head of The CAA was demanding new airlines proved trips. The airline will start a weekly service
aviation finance at law firm DLA Piper. they had up to £25 million cash before allowing to Grenoble from Plymouth and Newquay
He was speaking at a media event held shortly them to operate, and raising that amount was all on Saturday, December 20. Pictured from
after easyJet deferred four aircraft deliveries as but impossible in the current climate, he added. left are: Annette Gibbs, Kelly Boakes
it announced a 46% drop in annual profits. Douglas McNeill, a transport analyst at invest- Stapleton and Marie Cole, all Harvey World
EasyJet can delay half its aircraft orders for up ment bank Blue Oar Securities, predicted leisure Travel; and Roz Mears, Air Southwest
to two years, but Tyler warned that most airlines travel would recover more slowly than business
did not have a similar option. travel once the UK economy emerged from
“Where is the money going to come from for recession towards the end of next year.
those aircraft deliveries that cannot be deferred? The recovery would be led by growing exports
Air NZ to test
“It’s predicted that in 2009 there could be a made possible by a fall in the value of sterling,
shortfall of $20 billion. Aviation is a cyclical which meant business travel would pick up first.
weed biofuel
KLM flies first
AIR NEW ZEALAND claims the biofuel it will use
in a test flight of a Boeing 747 could provide a
genuine alternative to conventional jet fuel.
new Embraer
The trial, due next month, follows a test in
February by Virgin Atlanticm which used fuel that
included 20% biofuel on an Amsterdam flight. The
trial was widely dismissed as a publicity stunt.
Air New Zealand insisted it was testing a more
realistic alternative because it used biofuel made
from the African jatropha weed that could not be
used for food. It would also be blended 50:50
with conventional fuel, unlike Virgin’s that used
20% biofuel made from coconut and babassu oil.
The fuel is being tested by Rolls-Royce in
Derby before the flight in Auckland, New Zealand.
Air New Zealand said the jatropha-based fuel
was chosen because it did not compete with food
THE FIRST of KLM’s cityhopper subsidiary’s 10 CO
2
. The second of the aircraft is due to arrive in resources, was readily available, could be used
Embraer 190 E-jets has gone into the service on December. on unmodified engines, and would provide the
the airline’s Edinburgh-Amsterdam Schiphol route. Michel Coumans, managing director of KLM same performance as conventional jet fuel.
The airline is adding 10 of the twin-engine jets cityhopper, said: “The aircraft will enable us to Environmentalists, however, remain sceptical.
to its fleet over the next 18 months to replace its improve our operational performance through- Greenpeace said the amount of jatropha needed
oldest Fokker 100s. It claims the Embraers burn out Europe with a superior product for our cus- to power world aviation could not be produced
9% less fuel than their predecessors so emit less tomers, while considerably reducing emissions.” in a sustainable manner.
26 28.11.2008
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