Swire Pacific Limited and its Cathay Pacific Airways subsidiary have announced an agreement to sell their entire interests, 19.998 and 10 per cent respectively, in Hong Kong Air Cargo Terminals Limited (HACTL) and HACTL Investment Holdings Limited (HIHL). The interests in HACTL and HIHL are being purchased by existing HACTL and HIHL shareholders, namely Jardine Matheson & Co., Limited, The Wharf (Holdings) Limited, Mosgen Limited (a wholly owned subsidiary of Hutchison Whampoa Limited), … [Read more...] about Swire, Cathay sell stakes in HACTL
Canada to screen cargo in passenger bellies
In a move mirroring steps already well underway in the US, the Canadian government has announced a C$96 million (US$88.8 million) plan aimed at improving the security of Canadian air cargo, citing the potential for terrorist attacks within the commercial cargo system. The new measures, to be phased in over five years, include additional screening technologies and more stringent security checks for companies that screen cargo. While all cargo will be subject to the new measures, screening methods … [Read more...] about Canada to screen cargo in passenger bellies
Singapore Airlines’ Q4 net profit up six-fold
Singapore Airlines (SIA) has said its fourth quarter net profit soared more than six-fold as the global economic rebound boosted travel and cargo demand. Net profit in the three months to March was S$278 million (US$197.5 million), up from $42 million in the same quarter the year before, the company said in a statement. Together with the $404 million net profit in the third quarter, the fourth quarter earnings reversed $466 million in losses recorded in the financial first half. The airline … [Read more...] about Singapore Airlines’ Q4 net profit up six-fold
Dubai Int’l grows April cargo, pax despite ash
The volcanic ash cloud that grounded flights around the world for six days last month had a minimal impact on growth at Dubai International as April cargo and passenger numbers rose 19.6 and 13.9 per cent respectively, year-on-year. The airport handled 178,357 tonnes of cargo in April and 3.9 million passengers. … [Read more...] about Dubai Int’l grows April cargo, pax despite ash
BAWC gets 4Q boost and full-year profit
British Airways World Cargo (BAWC) has reported commercial revenue (flown revenue plus fuel surcharges) of £550.3 million (US$790 million) for the full year beginning April 2009. This represents a decrease of 18.2 per cent against the same period last year. Excluding the impact of favourable exchange rate movements, commercial revenues were down 26.1 per cent. Volumes of 4.5 million cargo tonne kilometres (CTKs) for the full year represent a decrease of 2.2 per cent versus the previous 12 … [Read more...] about BAWC gets 4Q boost and full-year profit
New UK government kills third Heathrow runway
The UK's new coalition government indicated last week that it will cancel plans for a third runway at London Heathrow and refuse additional runways at Gatwick and Stansted, stating that it is committed "to implement a full programme of measures to fulfil our joint ambitions for a low carbon and eco-friendly economy." … [Read more...] about New UK government kills third Heathrow runway
