All articles by Air Cargo News (Admin) – Page 465
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Jade ‘doomed from the start’
JADE Cargo was doomed from the start by a “flawed” strategy, says industry expert Stan Wraight.The managing partner, of Strategic Aviation Solutions International, lays the blame for the demise of the Chinese-German freight carrier, now going into liquidation, on an “ill-conceived” game plan.Jade’s partners included Lufthansa Cargo, Chinese logistics enterprise ...
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Bomb plot fails but terror still rules
AL Qaeda's thwarted bomb plot has ignited the fires of fear, almost as much as if the plot had succeeded. Now, panicking governments are threatening the aviation industry with financially crippling screening requirements.The two bombs, disguised as printer cartridges, were smuggled into the logistics chain last week. One was found ...
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Avianca snaps up Tampa Cargo
TAMPA Cargo, will be sold by its shareholders Martinair and private Colombian investors to Colombian carrier Avianca.In Bogota, Colombia the parties reached a principle agreement on the sale of 100 per cent of the shares. The transaction is expected to be finalised in June 2008.Furthermore Martinair, Tampa Cargo and Avianca ...
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Hong Kong Airport’s surprise cargo rise
HONG Kong International Airport (HKIA) records a modest increase in freight volumes in May after 14 months of decline.HKIA handled 333,000 metric tonnes, representing a 1.1 per cent rise.According to its operator, the Airport Authority Hong Kong, the figure was primarily due to a three per cent year-on-year growth in ...
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Oman Air’s 47 per cent cargo hike
OMAN Air (OA) celebrates a record-breaking 47 per cent hike in cargo revenues during the first five of months of 2012 – the most successful period in the airline’s history.The carrier also reveals freight volumes grew 33 per cent between January and May this year.Wayne Pearce, Oman’s chief executive officer, ...
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Jade grounds freighters
JADE Cargo, the joint venture between Air China and Lufthansa Cargo, has grounded all six of its 747-400ER freighters.While the company claims this is only temporary, sources close to the situation say it is because Jade does not have the money for fuel and is instead using the cash to ...
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Liquidation for Jade Cargo
TROUBLED Chinese-German freight carrier Jade Cargo is to be liquidated after its shareholders fail to agree on a restructuring plan.Chinese logistics enterprise, UniTop Group, became the newest partner in the joint venture, which included Lufthansa Cargo and LufthaShenzhen Airlines – the major shareholder with a 51 per cent stake.A spokesperson ...
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Hong Kong traffic falls 186 per cent
HONG Kong’s airfreight traffic fell 18.6 per cent in May, year-on-year.According to Hong Kong Air Cargo Terminals Limited (Hactl) Hong Kong International Airport handled 177,980 metric tonnes of cargo in May.Cumulative tonnage for the first five months of the year was 815,803 tonnes, down 23.0 per cent compared with the ...
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US wants more screening data
THE US Government Accountability Office (GAO) wants all-cargo air carriers to increase the amount of data they provide to government about screening.The GAO released a report in May that said Transportation Security Administration (TSA) officials found it difficult to “verify the accuracy of the self-reported screening data” by passenger carriers ...
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AIR Partner has expanded into Turkey and Hong Kong
AIR Partner has expanded into Turkey and Hong Kong as part of its on-going geographical growth plans to enter new and emerging markets.The new ventures began trading last month (January) with a focus on developing the company‘s freight charter business to meet the needs of a client base, which continues ...
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Fuel costs hit Oman Air
OMAN Air reported a loss of RO110m (US$285.6m) during 2011 on the back of a 38 per cent increase in fuel, which cost the company RO37m ($96m).However, freight tonnage grew 13 per cent, with a knock-on revenues increase of 28 per cent – RO4.1m ($10.6m).Despite the overall losses, Darwish bin ...
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Cartel fine for MASkargo
AUSTRALIA’S Federal Court in Sydney fines MASkargo A$6m (US$5.9m) for price-fixing within an international cartel.MASkargo admitted conspiring with other international carriers to fix general and security surcharges and customs fees on freight from Indonesia between 2001 and 2005, in the wake of the 9/11 terrorist attacks on the US.Proceedings against ...
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FedEx retires more freighters
FEDEX is to permanently retire 18 A310-200s and six Boeing MD-10-10s due to the continuing slump in demand for air cargo.The aircraft have already been grounded so they will not be taken out of active service.“The decision to permanently retire these aircraft will better align the US domestic air network ...
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Etihad buys Virgin Australia stake
ETIHAD Airways buys four per cent stake in Virgin Australia (VA) sparking union fears of a takeover.Forging ahead with its bid to extend its global reach, the carrier reveals it acquired the shares for US$35.6m and is eager to raise its holding to as much as 10 per cent – ...
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Cargo Champion – Larry Coyne
TO DESCRIBE Larry Coyne, chief executive officer of Coyne Airways and its parent company Coyne Aviation, as being “doggedly determined” would be an understatement, according to Pat Roche, who has known him professionally for more than 15 years.“Things don’t just happen, you have to make them happen and Larry always ...
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Russia refuses overflight rights…again
RUSSIA is up to its old tricks of refusing overflight rights for European airlines, but this time the EU may be to blame.Russia refused requests from Finnair and Lufthansa Cargo for additional overflights without giving a reason. However, it has recently protested at the EU Emissions Trading Scheme (ETS) that ...
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BAA abandons hope for third runway
BAA is said to have abandoned its plans for a third runway at London Heathrow. The incumbent Labour Party government had given the go ahead for the runway.But with it looking increasingly likely that the Conservative Party, which has made scrapping the plan a central part of its election manifesto, ...
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Thai axes president
THAI Airways International’s board is sacking its president Amranand Piyasvasti due to disagreements over strategy.Panyayong Chokchai, vice-president of strategy and business development, is now the acting president, says the airline’s chairman, Kittiampon Ampon.“The board has agreed to terminate the president’s contract because he cannot work in unity with the strategy ...
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EL Al awaits US price-fixing settlement approval
EL Al ISRAEL Airlines awaits approval for its US$15.8m US class action settlement over alleged price-fixing.The carrier has already paid $9.8m and the remaining sum is to be paid in five installments of $1.2m by the end of 2016.It is understood a New York court will approve the settlement in ...
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Bout witness gets five years
AN air cargo accomplice of Viktor ‘Merchant of Death’ Bout will be free within the year after turning star witness in Bout’s trial.Having already been held in custody since 2008 Andrew Smulian’s five-year sentence will see him released in only a few months.The judge who sentenced the two described Smulian ...