Taiwan’s Starlux Airlines takes out loan to help fund new A350s

StarLux Airlines targets $111 million on Taiwan OTC Exchange

2022-07-10 – 22:56 UTC

Starlux Airlines (JX, Taipei Taoyuan) has applied to the Taipei Stock Exchange to trade its shares on the country’s over-the-counter market (Taiwan OTC Exchange), the exchange’s website revealed.

The effective date of the public offering is set for July 12, and Starlux Airlines spokesman Nieh Kuo-wei told local media that the stock will be listed on the OTC market for three months after. Upon emergence, the company can begin to prepare for other external fundraising.

The company currently has a capital of TWD 15.3 billion New Taiwan Dollars (USD 514 million), and it has proposed a cash capital increase of 275 million shares at TWD 12 (USD 0.40) per action to raise an additional amount estimated at TWD 3.3 billion ($111 million).

After reducing the extent of its quarterly losses, Starlux Airlines is already raising funds and with the capital increase, it plans to increase its total capital by the end of August to more than TWD 18 billion. ($605 million). If the funds are sufficient, it will not proceed to a new fundraising before the end of…

Taiwanese Starlux prepares a new capital increase and targets the United States in 1Q23

2022-06-13 – 23:07 UTC

Starlux Airlines (JX, Taipei Taoyuan) has revealed it plans to raise more funds later this year to bolster its working capital and battle high losses despite what it claims to be a slowly improving financial situation this year. .

On June 12, spokesman Nieh Kuo-wei told the country’s Central News Agency that the airline may inject additional capital or seek external financing. Starlux had already completed a capital increase of TWD 4 billion New Taiwan Dollars (USD 134 million) in April, 90% of which was financed by owner and chairman Chang Kuo-wei, with the rest subscribed by employees.

The carrier launched scheduled operations on January 23, 2020, just a week before the first pandemic restrictions began affecting its services from Taipei Taoyuan to Macao Int’l. Now, however, it aims to launch A330-900 operations on June 1, 2022, deploying its first widebody on routes across Southeast Asia.

StarLux Airlines remains under pressure from the pandemic, Nieh admitted to the news agency, but is experiencing a recovery…

Taiwan’s Starlux Airlines to launch A330 operations in late 2Q22

25.05.2022 – 03:18 UTC

Starlux Airlines (JX, Taipei Taoyuan) plans to launch A330-900 operations on June 1, 2022, deploying its first widebody on international routes across Southeast Asia.

The ch-aviation schedule module shows that the Taiwanese carrier will initially operate A330-900s from Taipei Taoyuan to Bangkok Suvarnabhumi (daily from June 1) and Ho Chi Minh City (6 times a week from June 18). June). It also plans to deploy the type on individual rotations to Manila Ninoy Aquino Int’l, starting June 1.

Starlux Airlines took delivery of its first A330-900, B-58301 (msn 2003), in mid-February 2022. It has since used it on test flights, primarily between Taipei and Kaohsiung, as well as to Macau International Airport. The second unit of the type was delivered on May 11, 2022. Both are leased to Air Lease Corporation.

The company’s A330-900s have 297 seats, including 28 in business class and 269 in economy class.

Starlux Airlines plans to take six other A330-900s, including five from the same lessor. In total,…

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