Week 69: A320 Type Rating Week 8

I was totally overwhelmed during my first lesson in the simulator. I didn't know what to do, I didn't know what to expect, I was somewhat lost, not helped by my instructor expecting a high standard from us right from the first lesson.

I was the first cadet out of three to be the Pilot Flying(PF). With the plane being positioned at the holding point of RWY02C of WSSS, I had to enter the runway and line up at the threshold. Even such a short distance of taxi was a challenge to me as I wasn't used to the reaction speed of the nose wheel steering as well as the speed control. Rolling on the runway, with the assistance from the Pilot Monitoring(PM), I lifted off, retracted my gears and went into a blank haha..

It was only then I realised I still had two stages of flaps extended with my spoilers armed. What speed should I maintain, what height should I climb to, what angle of pitch should I be at. 1001 things for me to think about and I admit that I was overloaded. Even reaching transition altitude and the switching of the QNH had me confused on what to do.

Upon reaching the cruise altitude, I was given vectors to fly the plane. My control was horrible initially. I couldn't control my airspeed well and I over climbed by 200ft or so. Fortunately after a few climbs and descends, I finally got the hang of it and it became much easier.

My PF flight ended with an approach to land manually. With approach speeds at excess of 140kts, it was one heck of a different game when I was flying the C172 at 70kts approach speed. I had trouble following the glideslope which caused me to be either too high or too low. The momentum of the huge plane is the culprit of my lack of control.

Tried twice and had to redo for the third time which was forcefully landed as I had passed way to front of the touch down point. Not exactly the kind of performance I expected of myself, but I guess I'll have to learn and adapt faster.

Next, I was the PM and even so, its job is not any easier. I had to handle radio calls, which isn't my strong point all this while. And with me not being familiar with all the calls, it was another screw up after screw up. Sigh..

After the long 4hr simulator training, we had a briefing with the instructor. Obviously, a lot still need to be brushed up, but he gave me a remark of "Progressing Normal". I was totally famished after not eating for close to 6hrs. Got to remind myself to bring some snacks to munch on in my next lesson or I may find myself battling with gastric pain soon.

Next session will be two weeks later, and I'm determined to make it a better performance.

First session

Went to CAAS to collect my PPL. Next license booklet shall be in green colour

Qantas posts record annual net loss of US$2.65b

Australian flag carrier Qantas on Thursday posted a record annual net loss of A$2.84 billion (S$3.3 billion), but chief executive Alan Joyce insisted clearer skies lie ahead after aggressively cutting costs.

The worse-than-expected result compared with a wafer-thin profit in the previous year, with one-off restructuring and redundancy payouts hammering the bottom line. But the biggest hit came from a A$2.6 billion non-cash writedown of the value of its ageing international fleet, largely due to the historic cost of aircraft purchased at a much lower Australian dollar exchange rate.

Qantas's underlying loss before tax in the 12 months to June 30 - its preferred measure of financial performance, which excludes one-off costs and writedowns - was A$646 million, slightly better than forecast. Analysts had been expecting a net loss of up to A$1.0 billion as the carrier also battles high fuel costs and fierce competition from subsidised rivals.

Qantas in February announced it was axing 5,000 jobs, deferring aircraft deliveries, freezing growth at Asian offshoot Jetstar and cutting routes in a bid to turn around its fortunes. Joyce said the worst was now over. "There is no doubt today's numbers are confronting, but they represent the year that is past," he said. "We have now come through the worst.

"With our accelerated Qantas Transformation programme we are already emerging as a leaner, more focused and more sustainable Qantas Group. There is a clear and significant easing of both international and domestic capacity growth, which will stabilise the revenue environment," he added. "We expect a rapid improvement in the group's financial performance -- and a return to underlying profit before tax in the first half of FY15, subject to factors outside our control."

Qantas's share price closed 6.95 per cent higher at A$1.385, with analysts saying investors felt a bottom had been reached. "It's a horrible read, but some light is visible at the end of the tunnel," said IG Markets' Evan Lucas of the results. "With this mass clear of the decks, has Qantas finally reached the bottom? Possibly. However, further staff reductions could be a reality, and fuel and forex remain consistently volatile."

'STANDING STILL IS NOT AN OPTION'

The airline's international arm continued to underperform, booking a loss of A$497 million compared with A$246 million in the 2013 financial year, with high fuel prices and foreign exchange movements blamed. Domestic operations turned a A$30 million profit - but this was substantially lower than the previous year, while its discount carrier Jetstar was A$116 million in the red.

Qantas, whose main domestic rival Virgin Australia is majority-owned by state-backed Singapore Airlines, Air New Zealand and Etihad, has regularly complained that the 1992 Qantas Sales Act restricts its access to capital. The act caps foreign ownership at 49 per cent and in July the government agreed to relax the restrictions. While the 49 per cent cap remains, the change means a single foreign investor or foreign airline can boost their holding to a maximum 49 per cent from 25 per cent previously.

As a result Qantas said it would create a new unit for its international division, effectively separating it from the domestic arm - allowing it to increase the potential for future investment. "This will have no impact on the day-to-day operations, network or staffing at Qantas International," said Joyce.

The Transport Workers Union blamed a "lack of management" for the huge losses but Transport Minister Warren Truss said the projected return to profit in 2015 was encouraging. "While the numbers are dramatic, the reality is Qantas is a strong company and seems to be positioning itself for a better future," he said.

Joyce voiced similar sentiments despite the disappointing numbers. "Our cash balance and liquidity position is strong, and the group's overall financial performance is rapidly improving," he said. "We are removing costs to drive earnings growth. With our structural review complete, we can move forward with certainty."

SOURCE

Air China shares lose early gains after H1 profit fall

Shares in Air China slipped in Hong Kong Wednesday (Aug 27) after the flag carrier reported a 55 per cent drop in first-half net profit. Based on international accounting standards, the company recorded 510.4 million yuan (S$103.6 million) in net profit for the first six months, it said late Tuesday in a filing to the Hong Kong exchange, where it is listed.

Although revenue grew 8.5 per cent year-on-year to 49.9 billion yuan in the first half, passenger yield -- a measure of the average fare paid per mile by passengers - dropped 3.33 per cent to 0.58 yuan from a year earlier, it said. The results were in line with a profit warning issued in July, when it warned of a drop of 55-65 per cent caused by foreign exchange losses as the yuan weakened. Using Chinese standards net profit was 474.38 million yuan (S$96.3 million), down from 1.12 billion yuan from the in same period last year.

Shares in the Chinese flag carrier jumped in the morning 1.43 per cent but by early afternoon were trading up 0.2 per cent. A 2.5 per cent decline in the yuan resulted in a net exchange loss of 721 million yuan, compared with a net gain of 1.1 billion yuan for the same period last year, the airline said.

Higher jet fuel costs, which rose 4.99 per cent to 17.2 billion yuan, and intensified competition also contributed to the decrease in profits, the statement said. "The exchange rate volatility of the (yuan) against the US dollar was the primary factor that led to the overall decline of our first half results," the airline said in the filing. It said it had faced a "complex and volatile economic environment both internationally and domestically" for the reported period, as it faced increasing competition in the aviation market.

China's air industry is undergoing a rapid expansion with a slew of new start-ups now competing with older stablemates. Chinese airlines carried 350 million passengers last year, up nearly 11 per cent from 2012, according to official figures, while the civil aviation authority said the country will have more than 230 airports by 2015, up from 193 last year.

Air China said it saw moderate growth in the domestic passenger market, and a moderate recovery in the air cargo market for the first half of the year. Exchange rates and oil prices are expected to remain uncertain for the remainder of the year, it added. Air China took delivery of 28 new aircraft in the reported period including Boeing 777-300s and Airbus 330s, and retired 13 old aircraft to reduce operating and maintenance costs.

The International Air Transport Association in June said airline profits are improving and that it expects companies to record combined net profits of US$18 billion for 2014, down from its earlier forecast of US$18.7 billion made in March.

SOURCE

Air New Zealand announces bumper annual profit

Air New Zealand posted a 45 percent rise in annual net profit on Wednesday (Aug 27), and predicted more strong growth in the current financial year amid rising demand and easing fuel prices.

The airline said net profit for the 12 months to June 30 was NZ$262 million (S$272 million, US$218 million), up from NZ$181 million (S$188 million) a year earlier.

In an often volatile industry, chairman Tony Carter said Air New Zealand had achieved its third consecutive year of growth, demonstrating that the carrier "continues to be a world-leading airline, both in terms of customer experience and financial performance".

"Based on our current expectations of market demand and fuel prices, we expect to improve on the 2014 result in the coming year," he said.

Underlying the airline's confidence, it placed a US$1.5 billion (S$1.8 billion) order for 14 medium-range Airbus planes in June. Carter said the arrival of new aircraft would significantly boost Air New Zealand's capacity.

The airline's operating revenue rose one percent to NZ$4.7 billion (S$4.89 billion), earnings before tax were up 30 percent at NZ$332 million (S$345 million), and the board declared a final dividend of 5.5 cents a share, as well as a special dividend of 10 cents a share.

The announcement was made before trading started on the New Zealand stock exchange, where Air New Zealand shares last traded at NZ$2.15 (S$2.23).

SOURCE

China's BOC orders 82 Boeing planes worth US$8.8b

Aircraft leasing firm BOC Aviation said Monday it has ordered 80 Boeing 737 planes and two B777-300ERs worth a total $8.8 billion at list prices, to meet expanding client needs as travel booms in Asia.

The Singapore-based company, owned by the Bank of China, said the bulk of the orders was for 50 B737 MAX 8 planes and 30 next-generation B737-800s. The 80 planes have a value of US$8.14 billion based on 2014 catalogue prices published on Boeing's website. The orders will allow BOC Aviation to build on its fleet for the next seven years, the company said in a statement.

The firm said it has also ordered two B777-300ER aircraft, worth a total US$660 million at catalogue prices. Both planes have already been placed with an existing customer, it added. US aircraft maker Boeing said in a separate statement that the order is the "largest in BOC Aviation's 20-year history" and is part of the leasing firm's effort "to grow its portfolio of fuel-efficient airplanes".

Robert Martin, BOC Aviation's managing director and chief executive, said the fresh B737 orders followed a similar purchase made in 2006 for 50 B737 next-generation aircraft. "This is a continuation of our commitment to be responsive to airline customers which are expanding or replacing older fleets," he said. "The 737 is known for its operational and fuel efficiency, and BOC Aviation expects healthy demand for the next generation 737 and 737 MAX in the next seven years."

As of Jun 30, BOC Aviation said its fleet of 251 delivered aircraft included 118 Boeing aircraft operated by 27 airlines. At the Farnborough airshow in July, BOC Aviation also ordered 43 Airbus single-aisle A320 passenger jets worth US$4.4 billion at list prices.

Boeing has projected a travel boom in the Asia Pacific region over the next 20 years from 2013, fuelled by a rising middle class and strong regional economic growth. "As income levels rise, Asia Pacific is set to become the largest air travel market in the world. In 2033, approximately 48 per cent of global traffic will be to, from, or within the region," Boeing said in its latest regional forecast.

SOURCE

Thai Airways debunks reports of pilots' mass resignation

Thailand’s national carrier Thai Airways on Monday (Aug 25) denied reports that scores of pilots suddenly left the company after the airlines’ earnings were hit by competition and high costs.

Executive vice president for operations Athisak Padchuenjai on Monday debunked local media reports, saying it was not true that 200 pilots have resigned. He added that about 30 pilots have left Thai Airways this year, but it has not affected the airline’s operations.

Thai Airways is undergoing restructuring after it posted losses for five consecutive quarters. It has proposed to cut 1,500 jobs this year, and it intends to shed a quarter of its full-time staff by 2018.

The airline had 1,350 pilots as at August this year. About 100 student pilots join the carrier every year, said Athisak.

SOURCE

Aeroflot defies sanctions to create new low-cost airline

Russian flag carrier Aeroflot will create a new low-cost unit after Western sanctions grounded its first effort to enter the market, the airline's chief executive said on Sunday (Aug 24).

"We will after all register a new airline," Aeroflot chief executive Vitaly Savelyev was quoted as saying by Russian news agencies. He said the company's low-cost carrier, Dobrolyot, had worked well during the six weeks it was allowed to operate.

Dobrolyot was forced to shut down because it flew to Russian-annexed Crimea and was therefore hit by EU sanctions imposed over the Kremlin's alleged support for pro-Russian rebels in Ukraine, including the cancellation of the leasing contracts for its Boeing aircraft.

"We are holding talks with leasing companies and the first steps show that they want to work with us," said Savelyev. He said possible routes were still being worked out, but that the new airline could begin operations from the end of October when the winter schedule begins.

Savelyev said flights to Crimea, which Russia annexed from Ukraine in March, would depend on demand. Services to the popular Black Sea summer resort are usually cut back during the winter months.

New fuel-efficient jets are key to the success of low-cost airlines as the high cost of fuel often makes it their biggest expense. Leasing allows new airlines the opportunity to acquire aircraft more quickly without huge up-front investments.

Dobrolyot, which operated two Boeing 737-800 aircraft when it was forced to shut down, had planned to lease another six this year to begin flying to a handful of Russian cities.

SOURCE