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Topic: MH Secure Finance For Existing A380 Order
Username: seansasLCY
Posted 2012-11-20 11:41:37 and read 10710 times.

Apparently Malaysia has ordered 6 more A380.

http://www.ausbt.com.au/mas-to-buy-six-more-airbus-a380s

Great to see more A380s being sold.

Topic: MH Secure Finance For Existing A380 Order
Username: AeroWesty
Posted 2012-11-20 11:47:04 and read 10725 times.

Congrats to MH and Airbus. I guess that should put to rest the conventional wisdom that MH ordered the A380 as a "me too" knee-jerk reaction to the others in the region who were also placing sizable orders for the A380.

Topic: MH Secure Finance For Existing A380 Order
Username: kl911
Posted 2012-11-20 11:47:57 and read 10725 times.

What?? I never saw this one coming. Where are they gonna use them for?
Regardless, great news for Airbus!

Topic: MH Secure Finance For Existing A380 Order
Username: KarelXWB
Posted 2012-11-20 11:58:04 and read 10727 times.

What an unexpected surprise. They don't have a route for their 6th frame yet and already ordering 6 more.

Topic: MH Secure Finance For Existing A380 Order
Username: N14AZ
Posted 2012-11-20 12:07:29 and read 10726 times.

Is this a reliable source? I mean, it comes as such a suprise that I would be glad to have confirmation from another source (we had this before, journalists mixing up orders and deliveries, A 330 and A 380s (even LH staff did this just recently)).

Topic: MH Secure Finance For Existing A380 Order
Username: KarelXWB
Posted 2012-11-20 12:12:05 and read 10714 times.

Quoting N14AZ (Reply 4):
Is this a reliable source?

Now also on reuters.com:

http://www.reuters.com/article/2012/...malaysia-mas-idUSBRE8AJ0LQ20121120

Topic: MH Secure Finance For Existing A380 Order
Username: flood
Posted 2012-11-20 12:12:51 and read 10716 times.

Doesn't this financing merely cover existing orders?

Would be fantastic if true, but I'm skeptical at this point.

Topic: MH Secure Finance For Existing A380 Order
Username: AeroWesty
Posted 2012-11-20 12:24:47 and read 10718 times.

Quoting flood (Reply 6):
Doesn't this financing merely cover existing orders?

Here is another source, quoting MH. Are the A332F and A333 mentioned new or existing orders? That could shed some light on the subject.

http://www.bernama.com/bernama/v6/newsbusiness.php?id=710347

Topic: MH Secure Finance For Existing A380 Order
Username: Stitch
Posted 2012-11-20 12:44:56 and read 10718 times.

How many 747-400s does MH have in service?

Airfleets.net shows they own 9, but Wiki shows 5.

So assuming they had at one time 9 in revenue service, 12 A380s would cover replacement and allow for some expansion.

Topic: MH Secure Finance For Existing A380 Order
Username: flood
Posted 2012-11-20 12:48:23 and read 10716 times.

Quoting AeroWesty (Reply 7):
Are the A332F and A333 mentioned new or existing orders?

They still have outstanding A330s but don't have any more freighters on order - unless there's still an MOU out there.

Quoting Stitch (Reply 8):
Airfleets.net shows they own 9, but Wiki shows 5.

Their website shows 9 as well.
http://www.malaysiaairlines.com/us/e...erience/fleet/boeing-747-400p.html

Topic: MH Secure Finance For Existing A380 Order
Username: 9MMAR
Posted 2012-11-20 12:49:35 and read 10720 times.

From the Bernama article, it is apparent to me that the 8 aircraft mentioned are the existing 6 A380s, 3 of which have been delivered, 1 A332F from the current order (9M-MUD) and 1 A333 (9M-MTK) from the current 15 order as well. MH did mentioned that it is having a surplus of A332F and even planning not to take the last 2 frames (9M-MUC and 9M-MUD) before the decision was overturned.

Topic: MH Secure Finance For Existing A380 Order
Username: Focker
Posted 2012-11-20 13:04:01 and read 10723 times.

The article in the OP clearly says 6 additional aircraft. Question is if their sources are correct.

The 6 additional 380's may be used for the Australian markets i.e. SYD and MEL, and maybe even for the long awaited AMS flight (being Dutch myself one can hope).

[Edited 2012-11-20 13:04:46]

Topic: MH Secure Finance For Existing A380 Order
Username: na
Posted 2012-11-20 13:21:20 and read 10722 times.

Nice to hear about a new A380 order. And it comes as a big surprise. I didnt have Malaysia on the books for that as I thought they retire the 744 because they need to shrink. I terms of seatcount 12 A380s are about the same as all 744s they once had.

Quoting Stitch (Reply 8):
So assuming they had at one time 9 in revenue service, 12 A380s would cover replacement and allow for some expansion.

Not so much expansion I think. Two or three years ago they had about passenger 15 Jumbo-Jets, I think two or three have been converted to freighters, and about 3 or 4 are stored. As they are phasing out the 744 quickly, it could be 7 or 8 now and two less by Christmas.

Topic: MH Secure Finance For Existing A380 Order
Username: 9MMAR
Posted 2012-11-20 13:28:20 and read 10719 times.

Quoting Stitch (Reply 8):
How many 747-400s does MH have in service?
Quoting flood (Reply 9):
Their website shows 9 as well.

I think they only have 6 at the moment.

1. 9M-MPK Johor Bahru
2. 9M-MPL Penang
3. 9M-MPM Melaka
4. 9M-MPN Pangkor
5. 9M-MPP Putrajaya
6. 9M-MPQ Kuala Lumpur

MPK and MPQ are dedicated B744s for MAS Charter operation (primarily for hajj charters). As a matter of fact, MPQ had its J class removed and replaced with the normal Y seats including on the upper deck. The F class is intact. 12F, 442Y = 454 seats on MPQ vs 12F, 41J, 306Y = 359 seats on the other B744. The refurbishment was done in September 2010.

The remaining 4 aircraft are assigned to the remaining flights operated by the B744, MH4/1 KUL-LHR-KUL and MH 122/123 KUL-SYD-KUL. Since flight MH4/1 will be upgraded to A380 from 25 November 2012 onwards, the sole remaining B744 flight within MH's network is flight MH 122/123 KUL-SYD-KUL. It is expected that MH will retire more B744 except for maybe 2 frames to service SYD.

Topic: MH Secure Finance For Existing A380 Order
Username: LAXintl
Posted 2012-11-20 13:34:25 and read 10721 times.

According to their CEO the 747 fleet will be parked by the end of the year, while 777s will be gone within 3.

Malaysian To Park 747 Fleet (by LAXintl Jul 22 2012 in Civil Aviation)

=

Topic: MH Secure Finance For Existing A380 Order
Username: jfk777
Posted 2012-11-20 13:48:04 and read 10716 times.

Where is MAS going to fly 12 A380's ? One plane does a roundtrip to Sydney or Melbourne daily. With the fiirst 6 doing 3 rt to Europe, 6 A380 to Australia daily is way too many. This sounds like "keeping up with Singapore Airlines" or the Jones.

Topic: MH Secure Finance For Existing A380 Order
Username: astuteman
Posted 2012-11-20 13:55:46 and read 10717 times.

Quoting flood (Reply 6):
Doesn't this financing merely cover existing orders?

Quote
Malaysian Air lines up $1.73 billion bond to buy new Airbus aircraft
Unquote

I'd suggest they wouldn't have their current orders without the financing.
Three of these are already in service anyway.
Which sort of makes them "second-hand" as opposed to new, doesn't it?

guess we'll have to wait for an Airbus announcement to know for certain

Rgds

Topic: MH Secure Finance For Existing A380 Order
Username: Someone83
Posted 2012-11-20 13:56:59 and read 10717 times.

Just because is written, doesn't make it so....this has probably more to do with piss poor journalism than anything else. And seems to be more about a financially struggling airline that has obtained government backed financing for eight aircraft already on order

BTW: When ordering new aircrafts, financing is usually not finalized. This is something that the airlines does closer to delivery.

Topic: MH Secure Finance For Existing A380 Order
Username: Stitch
Posted 2012-11-20 13:58:27 and read 10715 times.

Quoting jfk777 (Reply 15):
6 A380 to Australia daily is way too many. This sounds like "keeping up with Singapore Airlines" or the Jones.

Perhaps they feel they need multiple A380 services between the EU and Australia via BKK to indeed "keep up" with the multiple A380 services on SQ (via SIN) and QF/EK (via DXB).



Quoting Someone83 (Reply 17):
Just because is written, doesn't make it so....this has probably more to do with piss poor journalism than anything else

There are no press releases on either MH's nor Airbus' websites about a new order.

Air Transport World doesn't say it's a new order, just that it would fund six A380-800s and one each of the A330-200F and A330-300.

The Business Times of Malaysia also states the money will be used "to pay for aircraft purchases, including its new super jumbos."

So this may indeed be financing for existing orders (MH could have secured bridge financing to take the initial delivery).

[Edited 2012-11-20 14:12:22]

Topic: MH Secure Finance For Existing A380 Order
Username: AirAfreak
Posted 2012-11-20 14:22:30 and read 10716 times.

It would be nice to see Malaysia A380 here in Los Angeles!!!

[Edited 2012-11-20 14:23:52]

Topic: MH Secure Finance For Existing A380 Order
Username: scbriml
Posted 2012-11-20 14:23:13 and read 10718 times.

As much as I'd like to see new A380 orders, I do believe this is just MH getting finance for its existing order resolved.

Topic: MH Secure Finance For Existing A380 Order
Username: dtw9
Posted 2012-11-20 15:03:10 and read 10712 times.

Quoting scbriml (Reply 20):
As much as I'd like to see new A380 orders, I do believe this is just MH getting finance for its existing order resolved.

Exactly. Seems odd that Leahy isn't strutting around like a Peacock and clucking like a chicken over a new A380 order

Topic: MH Secure Finance For Existing A380 Order
Username: scouseflyer
Posted 2012-11-20 15:05:29 and read 10714 times.

Quoting dtw9 (Reply 21):
Exactly. Seems odd that Leahy isn't strutting around like a Peacock and clucking like a chicken over a new A380 order

Can't remember him making too much of fuss with SQ top-up recently either. Maybe he's slowing down in his old age!

Topic: MH Secure Finance For Existing A380 Order
Username: Stitch
Posted 2012-11-20 15:22:26 and read 10724 times.

Doing some more digging, evidently Malaysia Airlines in May 2012 stated they were going to lease 6 A380s and 2 A330s from the Malaysian Government (who were paying for the planes). To support the purchase, the Malaysian Government planned to sell up to RM5.3bil of Islamic bonds under a 20-year programme.

These state-guaranteed notes would be sold by Turus Pesawat Sdn Bhd, which is the entity reported in conjunction with the RM5.31 billion Islamic loan being reported today.

So until such a time as we see a formal announcement from MH and Airbus that a new order has been placed, I really do believe this is just an announcement that the existing orders now are financed and no new orders are being placed.

Topic: MH Secure Finance For Existing A380 Order
Username: SInGAPORE_AIR
Posted 2012-11-20 15:27:09 and read 10720 times.

This is the official release. Looks more like a notification of debt-raising to finance an existing order to me.



1. INTRODUCTION

Our Board of Directors wish to announce that we had on 19 November 2012 executed a Master Facility Agreement with Turus Pesawat Sdn Bhd (“Turus Pesawat”) in respect of a Bai’ Bithaman Ajil Islamic financing arrangement of up to RM5.311 billion (“Financing Facilities”).

Turus Pesawat is incorporated in Malaysia as a special purpose company, wholly-owned by the Ministry of Finance, Inc, in order to provide the Financing Facilities.

The Financing Facilities are to be utilised by us to finance the purchase of eight (8) aircraft comprising six (6) Airbus A380-800, one (1) Airbus A330-200F and one (1) Airbus A330-300 (“Aircraft”) and other expenses in relation to the purchase thereof.

The salient terms of the Financing Facilities are set out in Section 2 below.

2. SALIENT TERMS OF THE FINANCING FACILITIES

The relevant salient terms of the Financing Facilities are as follows:

Facility : Bai’ Bithaman Ajil Facility up to a maximum aggregate amount of RM5.311 billion only.

Purpose : The Financing Facilities of RM5.311 billion shall be utilised by us to finance the purchase of the Aircraft and other expenses in relation to the purchase thereof including but not limited to the following:

(a) pre-delivery progressive payments including advances paid by us for the purchase of the Aircraft;
(b) balance purchase price of the Aircraft (if any) including buyer furnished equipment;
(c) to redeem any bridging facility or credit lines undertaken by us in relation to the purchase of the Aircraft; and
(d) such other costs as may be determined by Turus Pesawat

Tenure : The tenure of the Financing Facilities shall be for a period of up to twenty (20) years from the date of each disbursement under the Financing Facilities.

Security: The Financing Facilities are secured against the Aircraft.

3. EFFECTS OF THE FINANCING FACILITIES

The Financing Facilities will not have any effect on our issued and paid-up share capital, net assets and net assets per share.

This announcement is dated 20 November 2012.

Topic: MH Secure Finance For Existing A380 Order
Username: EK413
Posted 2012-11-20 18:09:44 and read 9339 times.

Shocking news I must say, regardless congratulations MH and Airbus...

Quoting seansasLCY (Thread starter):
Apparently Malaysia has ordered 6 more A380.

http://www.ausbt.com.au/mas-to-buy-six-more-airbus-a380s

Great to see more A380s being sold.

Great news for Airbus and MH... I certainly didn't see this one coming at all... Would make up for the cancellations...

Quoting jfk777 (Reply 15):
Where is MAS going to fly 12 A380's ? One plane does a roundtrip to Sydney or Melbourne daily. With the fiirst 6 doing 3 rt to Europe, 6 A380 to Australia daily is way too many. This sounds like "keeping up with Singapore Airlines" or the Jones.

MH have shelved their plans to deploy the A380 on the Australian network in favour of LHR double daily & CDG... I'm only assuming the extra frames will be deployed on the European network FRA, AMS, IST and probably on the US of A route LAX...?

EK413

Topic: MH Secure Finance For Existing A380 Order
Username: CXfirst
Posted 2012-11-20 18:26:15 and read 8475 times.

Well, the original article in the OP, states now that they made an error, and the news was really about financing for their initial 6 A380's.

Too bad, but makes much more sense. I could possibly see a couple more A380's (still doubtful), but not a total of 12 as MH stands now.

-CXfirst

Topic: MH Secure Finance For Existing A380 Order
Username: dtw9
Posted 2012-11-20 18:29:29 and read 8525 times.

Quoting EK413 (Reply 25):
Great news for Airbus and MH... I certainly didn't see this one coming at all... Would make up for the cancellations...

Better reread the article. It's been updated to say it's for financing for previous orders

Topic: MH Secure Finance For Existing A380 Order
Username: EK413
Posted 2012-11-20 18:35:08 and read 8530 times.

Quoting dtw9 (Reply 27):
Better reread the article. It's been updated to say it's for financing for previous orders
Update | An earlier version of this story, based on early wire reports from Malaysian press, indicated that MAS has received financing to purchase eight new Airbus aircraft, among them six A380s.

We've dug further into this and determined that the financing was in fact to cover existing purchase committments with Airbus, including the six A380s which Malaysia Airlines already has on its order sheet rather than additional aircraft beyond that order.


Thanks for bringing it to our attention
             

EK413

Topic: MH Secure Finance For Existing A380 Order
Username: Stitch
Posted 2012-11-20 19:02:41 and read 8165 times.

Now that we know this is not an order for new airframes, I have flagged the thread for archiving.


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