|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||28.88 - 29.33|
|52-week range||13.00 - 31.30|
|Beta (5Y monthly)||1.86|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||16 Apr 2020|
|1y target est||N/A|
Boeing (NYSE: BA) is ramping up planning for a new jet that would bridge the yawning gap between its 737 MAX and 787 Dreamliner models, after scrapping an earlier midsize aircraft concept last year. Engine maker Rolls-Royce recently confirmed that it is talking to Boeing about providing engines for a potential new aircraft project. On the one hand, it's heartening to see that Boeing is ready to buckle down and invest in all-new jet designs, after its attempt to update the 737 quickly and cheaply (in the form of the 737 MAX) backfired spectacularly.
(Bloomberg) -- Philippine Airlines Inc. is in talks with plane lessors about reducing its fleet size and has told them it’s considering a Chapter 11 filing in the U.S. to carry out a restructuring, according to people familiar with the plan.The airline could return at least two Airbus SE A350s to lessors and four of the 10 Boeing Co. 777s in its fleet, some of the people said, asking not to be identified as the information is private. Two A350s are in the process of being taken back by aircraft lessors and will be redeployed to other carriers, one person said. Prior to the negotiations, Philippine Airlines had six A350s.One lessor reached an agreement with the airline for it to keep a 777 and an A330, a person involved in the discussions said, asking not to be identified. Work on restructuring lease contracts and reaffirming commitments is ongoing, another person said.Philippine Airlines is working on documentation for a pre-packaged bankruptcy, people familiar said, with Seabury Capital advising on the restructuring. Cirium had previously reported that Seabury was an adviser on the Chapter 11 plan. Seabury didn’t immediately respond to emailed requests for comment.Founded in 1941, the airline said in a statement it is working with stakeholders “on a comprehensive restructuring plan” that will enable it to emerge from the global crisis financially stronger. Flights and operations won’t be affected in any restructuring, it said.Representatives for Airbus said the company doesn’t comment on fleet planning at individual airlines. Boeing declined to comment. Philippine Airlines’ lessors include GE Capital Aviation Services and Goshawk Aviation Ltd., according to Cirium. Calls to GE Capital Aviation’s Singapore office and an email to Ireland-based Goshawk seeking comment weren’t immediately returned during Asia hours.Philippine Airlines would join dozens of carriers and other aviation businesses, including Latam Airlines Group SA and lessor AeroCentury Corp., in being felled or forced to restructure after global travel was decimated by the pandemic.The tourism industry accounted for nearly 13% of the Philippines’ gross domestic product in 2019 and employed 13.5% of its labor force. Then Covid-19 came, and international arrivals slumped 82% last year to less than 1.5 million.While air travel within some countries is recovering as vaccination rollouts gather pace, a return to pre-pandemic levels of traffic could still take years as the virus mutates and governments take different approaches to opening borders. The International Air Transport Association has warned carriers globally will lose about $48 billion in 2021 amid setbacks in restarting travel.PAL Holdings Inc., the holding company of Philippine Airlines, has reported losses since the first quarter of 2017, including nearly 29 billion pesos ($607 million) in the first nine months of 2020, its latest published figures show.The airline said in November it was working on a recovery and restructuring plan, without providing details. In February, it said that it would cut 2,300 jobs or about a third of its workforce by mid-March.Philippines Finance Secretary Carlos Dominguez has told private banks to take the lead in assisting airlines, saying the government didn’t want to take ownership.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- Go Airlines India Ltd., a no-frills carrier controlled by the Wadia Group, has sought approval from India’s markets regulator to raise as much as 36 billion rupees ($490 million) through an initial public offering.The company may consider a pre-IPO share issue of as much as 15 billion rupees, the airline said in its prospectus Friday, adding the IPO size will be cut if the pre-IPO placement happens.Go Airlines, the second biggest customer for Airbus SE, is planning to use the proceeds for repayment of debt, and dues to Indian Oil Corp. ICICI Securities Ltd., Citi and Morgan Stanley will manage the IPO. GoAir has rebranded itself as Go First, the airline said in a statement Thursday.Go Airlines’s decision to seek to raise funds comes at a time when an overwhelming surge in coronavirus infections in India has hit the country’s air travel industry, which had just begun recovering, particularly in domestic routes. The second wave has delayed a rebound for international and domestic travel, according to India Ratings & Research Ltd., a unit of Fitch Ratings Ltd.IndiGo, India’s biggest budget airline, decided to raise 30 billion rupees by selling shares as the second wave prolongs air travel recovery, months after saying it didn’t need money. SpiceJet Ltd., India’s second-largest carrier, deferred salaries for half of its employees.Go Airlines asked as many as 90% of its 5,500 employees to go on an indefinite leave without pay during last year’s lockdown, people with knowledge of the matter said in April 2020.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.