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MH Secure Finance For Existing A380 Order  
User currently offlineseansasLCY From Hong Kong, joined Mar 2007, 857 posts, RR: 0
Posted (1 year 9 months 1 week 5 days 5 hours ago) and read 10827 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.

29 replies: All unread, showing first 25:
 
User currently offlineAeroWesty From United States of America, joined Oct 2004, 20541 posts, RR: 62
Reply 1, posted (1 year 9 months 1 week 5 days 5 hours ago) and read 10842 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.


International Homo of Mystery
User currently offlinekl911 From Czech Republic, joined Jul 2003, 5131 posts, RR: 12
Reply 2, posted (1 year 9 months 1 week 5 days 5 hours ago) and read 10842 times:

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


User currently offlineKarelXWB From Netherlands, joined Jul 2012, 11367 posts, RR: 33
Reply 3, posted (1 year 9 months 1 week 5 days 5 hours ago) and read 10844 times:

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


Only two things are infinite, the universe and human stupidity. And I'm not sure about the universe.
User currently offlineN14AZ From Germany, joined Feb 2007, 2699 posts, RR: 25
Reply 4, posted (1 year 9 months 1 week 5 days 5 hours ago) and read 10843 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)).

User currently offlineKarelXWB From Netherlands, joined Jul 2012, 11367 posts, RR: 33
Reply 5, posted (1 year 9 months 1 week 5 days 4 hours ago) and read 10831 times:

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

Now also on reuters.com:

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



Only two things are infinite, the universe and human stupidity. And I'm not sure about the universe.
User currently offlineflood From United States of America, joined Feb 2009, 1381 posts, RR: 1
Reply 6, posted (1 year 9 months 1 week 5 days 4 hours ago) and read 10833 times:

Doesn't this financing merely cover existing orders?

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


User currently offlineAeroWesty From United States of America, joined Oct 2004, 20541 posts, RR: 62
Reply 7, posted (1 year 9 months 1 week 5 days 4 hours ago) and read 10835 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



International Homo of Mystery
User currently onlineStitch From United States of America, joined Jul 2005, 30901 posts, RR: 87
Reply 8, posted (1 year 9 months 1 week 5 days 4 hours ago) and read 10835 times:
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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.


User currently offlineflood From United States of America, joined Feb 2009, 1381 posts, RR: 1
Reply 9, posted (1 year 9 months 1 week 5 days 4 hours ago) and read 10833 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


User currently offline9MMAR From Malaysia, joined Jul 2006, 2110 posts, RR: 18
Reply 10, posted (1 year 9 months 1 week 5 days 4 hours ago) and read 10837 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.

User currently offlineFocker From Netherlands, joined Jan 2011, 153 posts, RR: 0
Reply 11, posted (1 year 9 months 1 week 5 days 4 hours ago) and read 10840 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]

User currently offlinena From Germany, joined Dec 1999, 10702 posts, RR: 9
Reply 12, posted (1 year 9 months 1 week 5 days 3 hours ago) and read 10839 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.


User currently offline9MMAR From Malaysia, joined Jul 2006, 2110 posts, RR: 18
Reply 13, posted (1 year 9 months 1 week 5 days 3 hours ago) and read 10836 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.


User currently offlineLAXintl From United States of America, joined May 2000, 25148 posts, RR: 46
Reply 14, posted (1 year 9 months 1 week 5 days 3 hours ago) and read 10838 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)

=



From the desert to the sea, to all of Southern California
User currently onlinejfk777 From United States of America, joined Aug 2006, 8339 posts, RR: 7
Reply 15, posted (1 year 9 months 1 week 5 days 3 hours ago) and read 10833 times:
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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.

User currently offlineastuteman From United Kingdom, joined Jan 2005, 10008 posts, RR: 96
Reply 16, posted (1 year 9 months 1 week 5 days 3 hours ago) and read 10834 times:
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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


User currently offlineSomeone83 From Norway, joined Sep 2006, 3367 posts, RR: 3
Reply 17, posted (1 year 9 months 1 week 5 days 3 hours ago) and read 10834 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.


User currently onlineStitch From United States of America, joined Jul 2005, 30901 posts, RR: 87
Reply 18, posted (1 year 9 months 1 week 5 days 3 hours ago) and read 10832 times:
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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]

User currently offlineAirAfreak From United States of America, joined Apr 2012, 713 posts, RR: 0
Reply 19, posted (1 year 9 months 1 week 5 days 2 hours ago) and read 10833 times:
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It would be nice to see Malaysia A380 here in Los Angeles!!!

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


Do you lead an Intercontinental life?
User currently offlinescbriml From United Kingdom, joined Jul 2003, 12495 posts, RR: 46
Reply 20, posted (1 year 9 months 1 week 5 days 2 hours ago) and read 10835 times:
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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.


Time flies like an arrow, but fruit flies like a banana!
User currently offlinedtw9 From United States of America, joined Sep 2003, 1156 posts, RR: 2
Reply 21, posted (1 year 9 months 1 week 5 days 2 hours ago) and read 10829 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


User currently offlinescouseflyer From United Kingdom, joined Apr 2006, 3389 posts, RR: 9
Reply 22, posted (1 year 9 months 1 week 5 days 2 hours ago) and read 10831 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!


User currently onlineStitch From United States of America, joined Jul 2005, 30901 posts, RR: 87
Reply 23, posted (1 year 9 months 1 week 5 days 1 hour ago) and read 10841 times:
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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.


User currently offlineSInGAPORE_AIR From United Kingdom, joined Nov 2000, 13742 posts, RR: 19
Reply 24, posted (1 year 9 months 1 week 5 days 1 hour ago) and read 10837 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.



Anyone can fly, only the best Soar.
User currently offlineEK413 From Australia, joined Nov 2003, 4906 posts, RR: 4
Reply 25, posted (1 year 9 months 1 week 4 days 22 hours ago) and read 9456 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



Good evening, ladies and gentlemen. We are tonight’s entertainment!
User currently offlineCXfirst From Norway, joined Jan 2007, 3059 posts, RR: 1
Reply 26, posted (1 year 9 months 1 week 4 days 22 hours ago) and read 8592 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



From Norway, live in Australia
User currently offlinedtw9 From United States of America, joined Sep 2003, 1156 posts, RR: 2
Reply 27, posted (1 year 9 months 1 week 4 days 22 hours ago) and read 8642 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


User currently offlineEK413 From Australia, joined Nov 2003, 4906 posts, RR: 4
Reply 28, posted (1 year 9 months 1 week 4 days 22 hours ago) and read 8647 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



Good evening, ladies and gentlemen. We are tonight’s entertainment!
User currently onlineStitch From United States of America, joined Jul 2005, 30901 posts, RR: 87
Reply 29, posted (1 year 9 months 1 week 4 days 22 hours ago) and read 8282 times:
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Now that we know this is not an order for new airframes, I have flagged the thread for archiving.

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