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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Sri Lankan order most modern Airbus A350XWB

Sri Lankan order most modern Airbus A350XWB

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Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
One of the finest passenger aircraft ever built, AirBus Industries newest product,  A350XWB
successfully completed its maiden voyage on Friday 14 June 2013 in France.

Within few days of its first flight , Sri  Lankan Airlines ordered four of these most modern A350-900 planes from Airbus.

In the $2.6 billion sale, Sri Lankan will purchase six Airbus A330-300s and four A350-900s directly from Airbus and will lease a further three A350s as production lots are not available at the moment to buy outright.

Deliveries of the A330s will begin in October 2014 and of the A350s in 2017.
The heavy fuel burner A340s would, said Sri Lankan CEO Kapila Chandrasena, be returned to the lessor as the new aircraft arrived.

A350 is 20-25% efficient and cheaper to operate than four engined A340s . This will considerably reduce the unbearable fuel cost of UL and take it back to profit making level.

A350XWB will join commercial passenger operations in 12-13 months with Qatar airways.

Sri Lankan order most modern Airbus A350XWB   800x600_1371628602_A350-900_Srilankan

http://www.airbus.com/newsevents/news-events-single/detail/srilankan-airlines-opts-for-six-a330s-and-four-a350-xwbs/#

Market.Player

Market.Player
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Ascharya Kara Yana Gamana.........

traderathome

traderathome
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Its a Good decision .....
commis ehema adukarala gatta nam.
but thinking LT this is the right thing. 
and we should sell mihin and concentrate on Usually Late airline of ours Razz

rainmaker


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Mr Chinwi since you like flying can you pay for the insurance cost as well ?

As you can see the insurance surcharge is very high even though it has been lowered since the end of the war.

http://www.insurancenews.com.au/international/insurance-surcharge-for-sri-lanka

WildBear


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@rainmaker wrote:Mr Chinwi since you like flying can you pay for the insurance cost as well ?

As you can see the insurance surcharge is very high even though it has been lowered since the end of the war.

http://www.insurancenews.com.au/international/insurance-surcharge-for-sri-lanka
Dude you are publishing decades old news, those facts are not valid any more. This is year 2013

rainmaker


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
You would not believe me if I didn't provide a link.....

Insurance surcharge for landing is still above $50,000 per flight

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@rainmaker wrote:You would not believe me if I didn't provide a link.....

Insurance surcharge for landing is still above $50,000 per flight

???

That is Rs. 32,000 per ticket for 200 pax airplane. ?
 
How lucky are we ? By paying only the insurance cost we can go to Swarnabhumi , spend the weekend and come back free of charge. 


http://www.dailynews.lk/2001/09/20/new01.html



Last edited by Chinwi on Fri Jun 21, 2013 5:06 pm; edited 1 time in total

Arena


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Sri Lankan will purchase six Airbus A330-300s and four A350-900s directly from Airbus and will lease a further three A350s as production lots are not available at the moment to buy outright.

Ascharyak noweda Hasantha mahaththayo.........They dont have the required stocks to cater Sri lankan requirement.

rainmaker


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@Chinwi the cost is absorbed by treasury general account. 

There is no local insurance company that receives the money. It gets paid direct to large European insurers.

Same is for oil tankers and large container vessels

The railways on the other hand is not insured which something the Treasury must do.

Just an insight for you Wink

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@Arena wrote:Sri Lankan will purchase six Airbus A330-300s and four A350-900s directly from Airbus and will lease a further three A350s as production lots are not available at the moment to buy outright.

Ascharyak noweda Hasantha mahaththayo.........They dont have the required stocks to cater Sri lankan requirement.
Got it !Wink


---

Actually now they have secured orders for 600 + planes from all over the world. That includes 80 from Qatar, 70 from Emirates, and from other 30 + airlines including some aircraft  leasing companies. 
So, delivery time depends on the queue. With a  backlog of 600 + aircraft,  production slots filled out to 2020 as per Airbus spokesman.  That gives leasing companies business, to hire the planes they get before 2020. 


( I misspelled slots as lots in my earlier typing)


Now they say this gives unexpected chance to Boeing to market their B777 & Dreamliner B787 .  Popularity of  A350 was threatening Boeing which is said to be 8-10% fuel efficient than B777.



Last edited by Chinwi on Fri Jun 21, 2013 7:46 pm; edited 1 time in total

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@rainmaker wrote:@Chinwi the cost is absorbed by treasury general account. 

There is no local insurance company that receives the money. It gets paid direct to large European insurers.

Same is for oil tankers and large container vessels

The railways on the other hand is not insured which something the Treasury must do.

Just an insight for you Wink


I thought it was removed 3 years ago.     

http://www.marketplace.org/topics/world/sri-lanka-removed-lloyds-london-risk-war-blacklist

http://www.google.com/hostednews/afp/article/ALeqM5jOm6nHt-CupmVsxHYFS0DyAZXW1w

Jiggysaurus

Jiggysaurus
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Looks like rainman is reading his ancient books again. According to raniny each flight has to pay USD 50k which is paid by the treasury.
Jamis Banda never came up with such nonsense.
Every year there are 40,000 flight movements into BIA (so that is 20,000 landings x USD 50,000), are we to believe that the treasury pays $1 billion every year for a non existent war risk surcharge?
Where is the treasury getting this money from? Rainman's trust fund?
Rainman can you please change into Jamis Banda, he at least had upto date books.

rainmaker


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
S
Nothing ancient here. The war risk charge was removed but insurance surcharges have to be paid ( the war risk charge is percentile loading)

Govt and airlines share the costs. The passenger shares the cost via airport taxes.

There is also a insurance cost for keeping a plane on an airport. That is what the speech on the airport opening hinted.



Last edited by rainmaker on Fri Jun 21, 2013 8:10 pm; edited 1 time in total

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
ancient memories ...

just scanned .

Sri Lankan order most modern Airbus A350XWB   Aircey10
Air Ceylon first Trident jet service 1969. HS trident .

Sri Lankan order most modern Airbus A350XWB   Airlan10
Start of Air Lanka 1979. with L1011 Tristar, B 747 pl. refer Kithsiri.

Buying Brand new A350 will create history of Air travel in Sri Lanka. For the first time in the history we join with the rest of the world to order such an aircraft made for the future.



Last edited by Chinwi on Sat Jun 22, 2013 9:24 am; edited 1 time in total

Kithsiri

Kithsiri
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Airlanka was started not with Tristars (L1011) and Jumbos (B747) but with B707 and B737s, if I may correct you here.
Tristars joined later to replace B707 and Jumbos even much later.

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@Kithsiri wrote:Airlanka was started not with Tristars (L1011) and Jumbos (B747) but with B707 and B737s, if I may correct you here.
Tristars joined later to replace B707 and Jumbos even much later.

Accepted.

Correct. I remember Capt. Rackitha Wickramanayake arranged leasing of B707 & 737 from Singapore to start Air Lanka. . Later they hired L1011.

Thanks for correction.


rainmaker


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@Chinwi thanks for uploaded picture. 

If I'm correct SL had the honour of being a port of disembarkation on the London to Sydney schedule. The port was Koggala and the year was in the 1930s.

The fleet has to be replaced..... refer to the info below.

http://www.planespotters.net/Airline/SriLankan-Airlines

rainmaker


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
As your can see the latest planes so far have been leased from ALC Airlines Leasing Corporation

The cheaper leases are older planes that were delivered by IFLC as an urgent need 

I think the 3 A340s that are owned by the Airline will be retired when the new fleet arrives

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
Am I  hijacking the forum for flying ?  ! Cool

@ rainmaker, Yes we were in the map before many other Asian countries.  

@ Kithsiri , Your memory is wonderful. Today I found a first-day cover made by me 33 y ago (school going days) to commemorate L1011 maiden flight. 

Sri Lankan order most modern Airbus A350XWB   Ul_tri10
3 decades ago ...

Sri Lankan order most modern Airbus A350XWB   4r-ulc10

Our famous Lockheed Tristar 1011 wide bodied beauty.

Air Lanka used 15 Tristars time to time and one was destroyed by LTTE bombing killing the crew and 15+ passengers.

rainmaker


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
The Qantas share price has slumped to $1.28 (about 140/=). The market cap is now slightly less than $3 billion

They posted a loss but still not bad an airline which generates $16 billion in turnover ..... 308 aircrafts which are mostly owned and the most lucrative of all ....... landing rights to most of the world

Sponsored content


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