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Industrials
Size
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Market Cap £64.83bn
Enterprise Value £67.12bn
Revenue £42.76bn
Position in Universe 14th / 850

UPDATE 1-China Southern reviewing future of its A380 jets, says executive

Wed 14th April, 2021 9:06am
(Adds detail, other A380 fleets)
    April 14 (Reuters) - China Southern Airlines  600029.SS  is
reviewing the future of the five Airbus  AIR.PA  A380
superjumbos in its fleet, an executive said on Wednesday, at a
time when many carriers are retiring the jets early because of
the COVID-19 pandemic.
    "Not only for China Southern but also for many airlines we
must be thinking about the A380," China Southern Senior Vice
President International and Corporate Relations Wu Guoxiang said
at a CAPA Centre for Aviation event. 
    "Maybe it is too large for the route and its operation cost
is very high. It is still in our consideration how we solve this
problem." 
    China Southern is the only Chinese A380 operator and is
running only 10% of its overall pre-pandemic international
capacity because of border restrictions, Wu said.
    Germany's Lufthansa  LHAG.DE , Air France  AIRF.PA  and Thai
Airways  THAI.BK  have announced plans to retire their A380
fleets permanently since the pandemic hammered international
travel demand. 
    Others, such as Australia's Qantas Airways  QAN.AX  and
Singapore Airlines  SIAL.SI , have grounded their A380 fleets
temporarily until demand returns.
    Qantas Chief Executive Alan Joyce said the airline expected
to resume flying all 12 of its A380s eventually. The aircraft
are currently being stored in the desert in California.
    "Once demand is there, they're going to be good aircraft and
get back in the air," he said earlier at the CAPA event.

 (Reporting by Jamie Freed in Sydney
Editing by David Goodman)
 ((Jamie.Freed@thomsonreuters.com;))
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