All articles by Air Cargo News (Admin) – Page 491
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News
Transmile future still uncertain
STRUGGLING Malaysian cargo company – Transmile Group – has missed the deadline for submitting a debt-restructuring plan, leaving its future uncertain.After its low point in 2007, following financial irregularities by senior management, Transmile was given until April to provide a plan for approval by one of its investors, Malaysian Trustees.“It ...
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Atlas Air wins 747-8F funding
ATLAS Air Worldwide Holdings (AAWW) has secured the finances to buy the final nine of 12 747-8 freighters scheduled for delivery between early 2011 and 2013.“We are very pleased to secure the financing for the remainder of our 747-8 deliveries," said Jason Grant, AAWW’s senior vice-president and chief financial officer.“Although ...
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Rip-off or not
THE volcanic ash cloud that heavily disrupted air services in Western Europe for six days in mid-April was originally seen as another devastating blow to an air cargo industry that was just recovering from the lows of 2009.However, as the cloud drifted away and airspace reopened, airlines found themselves able ...
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Unexpectedly rapid recovery strengthens in March
INTERNATIONAL airfreight traffic in March continued to strengthen in demand. Compared to March 2009, cargo demand grew 28.1 per cent, up from the 26.3 per cent growth recorded in February. Obviously, the low point last year, being so extreme, must be taken into account.Global airfreight is now within one per ...
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Thai cargo starts using 777Fs
THAI Cargo has started operating its two 777-200LR freighters leased from Southern Air. Thai deployed the two aircraft on its Bangkok to Frankfurt and Bangkok-Hong Kong-Amsterdam-Bangkok routes – the first route twice weekly, the second once weekly.Thai is the first carrier in Asia and Southeast Asia to conduct freighter operations ...
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Hong Kong accuses carriers of profiteering
AIRLINES are charging exporters in Hong Kong premium rates to clear the backlog of airfreight resulting from the European volcanic ash delays.According to the Hong Kong Shippers' Council, prices to Europe have been lifted by over 200 per cent, from less than US$30 per kg to over $100.Sunny Ho, council ...
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Cargolux lost $153 million in 2009
CARGOLUX lost US$153 million in 2009 as the industry slump pulled its revenues for the year down 34 per cent from 2008’s to $1.3 billion. Traffic fell 11.3 per cent, yields by 26 per cent. To compensate, capacity was cut 9.3 per cent to ensure load factor only fell from ...
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CORRECTION Agility to layoff 1000s
In a story published on 24 March – Agility to lay off 1,000s – we incorrectly reported that Gulf Agency Company (GAC) and DP World had also announced similar layoffs.This was incorrect and neither company has made any redundancies at all this year. While they have been affected by the ...
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BA demands compensation for Act of God
WITH Iceland’s erupting volcano now calming, the ash is clearing and aircraft flying. But it will still be weeks before the backlog of airfreight is cleared and longer still before the full impact of the crisis can be properly evaluated. That hasn’t stopped both the media and IATA from throwing ...
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Volcanic ash delay starts to bite deep
THE ash from the Icelandic volcano continues to disrupt aviation, but, as the restrictions on aircraft movements continue, airlines and forwarders are growing increasingly desperate to restart operations.Alan Braithwaite, chairman of LCP Consulting, said: “The disruption to UK and EU aviation from the Icelandic dust cloud will lead to shortages ...
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Volcanic eruption causes chaos at European airports
AIRPORTS and airlines in northern Europe were thrown into chaos on Thursday 15 April, as a large volcanic ash cloud swept down from the northeast rendering vast swathes of airspace unusable.All flights in and out of the UK and several other European countries were suspended as ash from a volcanic ...
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Is Air China the future for Jade Cargo
WITH two top executives from its major shareholder Shenzhen Airlines under arrest, and that carrier looking set to be absorbed by the Air China group, these must be uncertain times for Jade Cargo International.With 51 per cent of its equity held by Shenzhen Airlines and 25 per cent by Lufthansa ...
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AA looks to niches for higher yielding traffic
IN February the US DoT eventually gave its tentative blessing to anti-trust immunity for American Airlines and British Airways, plus Iberia. In return for giving up four slots at Heathrow, the US authority cleared the way for the carriers’ long coveted ambition to form fully-fl edged alliances both in cargo ...
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Battery rule will cost US$1billion of pain
SHIPPERS, freight forwarders and airlines have reacted with anger and dismay to the latest ill-conceived proposed legislation from US lawmakers. Following on from the farce of the 100 per cent screening ruling, the industry is again set to absorb massive extra costs should the proposal become law.Plans for new regulations ...
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Korean’s record profits confirm recovery
KOREAN Air has posted record results for the first quarter of 2010. Operating profit rose by nearly 3,300 per cent, 6.6 billion won (US$5.9 million) to 220.2 billion won ($197.6 million), from the same period last year. Net profit will be available in mid-May.Even taking into account the depths that ...
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MAS latest target for price-fixing charges
AUSTRALIA has charged Malaysia Airlines (MAS) with price-fixing. The Australian Competition and Consumer Commission (ACCC), which served the statement of claims, alleges that MAS and its subsidiary MASkargo, between 2001 and 2006, conspired with other international carriers to set fuel and security surcharges on airfreight in Indonesia and Hong Kong.“Malaysian ...
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Agility fraud charges pulls in two subsidiaries
ALLEGATIONS against Agility for fraud against the US Army have been widened to include two of the company’s subsidiaries: US-based Agility DGS Holdings and Kuwait-based Agility DGS Logistics Services.The expansion of the case includes no new charges against Agility, just pulls in the two additional companies into the original charges.The ...
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New Airbus freighter cleared by EU
AIRBUS’ latest freighter – the A330-200F – has been granted type certification by the European Aviation Safety Agency (EASA) following a successful 200-hour flight-test campaign. The trials were performed by two aircraft, covering both engine types on offer: the Pratt and Whitney PW4000 and the Rolls-Royce Trent 700.Speaking at the ...
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MK Airlines forced from the sky
MK Airlines has suspended all flying after the struggling cargo carrier failed to secure sufficient funding to continue its operations.The struggling UK-headquartered B747-200 freighter airline only exited administration last June with the promise of new investment. However, this appears to have failed to materialise and the future is now in ...
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Vertannes is IATA’s new Global Head of Cargo
Air Cargo News can exclusively reveal that Etihad’s executive vice-president cargo is leaving his current position and taking the role as IATA’s Global Head of Cargo. Based in Geneva, Vertannes will report to the previous IATA head of cargo Aleks Popovich.Vertannes joined Etihad to lead the airline’s Crystal Cargo division ...