Australia Briefing: Pilot Demand Soars
Good morning, it’s Andreea here and this is what you need to know this morning...
Today’s must-reads:
• Pilot demand is taking off
• India’s Modi will still visit Australia
• New Zealand to unveil budget as economy slows
Air China has swamped an Australian flight school with a request for commercial pilots, as the vast Chinese market resumes international travel. Air China had stopped sending its trainees to the Australian Airline Pilot Academy campus in regional Victoria after the pandemic halted overseas travel in early 2020. But talks resumed two months ago and the school had to interview over 100 Air China cadets in four days.
India’s Prime Minister Narendra Modi will visit Australia next week for top level political meetings and events with the Indian diaspora, in spite of the last-minute cancellation of the Sydney Quad summit after US President Joe Biden called off his trip. Modi’s scheduled to have bilateral talks with Prime Minister Anthony Albanese, meet the business community and hold a “very public” rally at Sydney’s Homebush Arena.
Top equities fund manager David Wilson’s betting BHP and Rio Tinto can withstand softer iron-ore prices and will benefit as China’s reopening boosts demand. Wilson, who oversees the equivalent of $5.3 billion at First Sentier Wholesale Geared Share Fund, says Aussie producers have relatively low operating costs and high exposure to the mainland. Meanwhile, Australia’s wine exports to China could take years to recover fully after any easing of steep tariffs, the head of Penfolds owner Treasury Wine Estates said, as frosty ties show signs of thawing.