Evergreen International Airlines has filed a US lawsuit against The Boeing Company after it pulled a Dreamliner contract Evergreen had been counting on as a lucrative source of income for the next 20 years, awarding it to Atlas Air Inc instead. “Boeing committed bad faith and breached its contractual promises to conduct its business fairly, impartially and in an ethical and proper manner,” Evergreen alleged in the complaint, filed in US District Court in Seattle. … [Read more...] about TAIWAN: Evergreen sues Boeing over Dreamlifter contract

Thai Airways International has begun to deploy two brand-new Boeing 777 freighters on Bangkok to Frankfurt and Bangkok to Amsterdam services as it seeks to regain lost ground after years of neglect playing a distant second fiddle to the passenger side. The flag carrier last week started to use cargo capacity on the B777Fs, which are operated by Southern Air, a US-based low-cost cargo carrier, under an aircraft block space agreement (BSA) struck last year for a period of two years. The … [Read more...] about THAILAND: Thai begins new services with B777Fs

Korean Air’s cargo revenue jumped 22 percent in the fourth quarter of 2009 as demand and yields increased dramatically at the end of the year, the carrier said in its annual report. The world’s largest air freight carrier, said traffic grew 15.2 per cent in the last three months of the year over the same period a year earlier, including a 25.2 per cent jump in December. The airline said its cargo yield rose 13.4 per cent to its highest level of the year. Korean … [Read more...] about KOREA: Korean saw soaring Q4 volumes and yield

Korean Airlines and Asiana Airlines will be subject to fines of KRW10.4 billion (US$9.2 million) and KRW640 million respectively for engaging in anticompetitive practices to hurt smaller Korean carriers, South Korea’s Fair Trade Commission announced last month. The announcement came just days after the Australian Competition and Consumer Commission charged Korean Air with air cargo price fixing. In what is now a familiar charge, Australian authorities allege Korean Air entered … [Read more...] about KOREA: Antitrust regulators hit Korean, Asiana

Philippines-based budget carrier Cebu Air Inc has been given approval to conduct an initial public offering for its Cebu Pacific airline, worth as much as P25.7 billion (US$5 billion). The planned offering consists of about 235.6 million shares with an indicative price of P95 per share for a total size of P22.38 million. Should the demand for their share be strong, Cebu Pacific has an option to upsize its IPO by another 35.33 million shares worth an additional P3.35 billion. The company … [Read more...] about PHILIPINES: Cebu pacific gets nod for IPO

Air China Cargo and Tolmachevo International Airport have signed an agreement on bilateral cooperation. The agreement stipulates that Tolmachevo International Airport becomes the first airport in Russia where Air China Cargo will make its technical stops. As of today, the airline has already received a certificate to provide the first seven charter flights by B747-400F on the route Shanghai – Novosibirsk (Tolmachevo) – Frankfurt. In the future, the airline is planning to … [Read more...] about CHINA: Air China Cargo agrees to stop at Novosibirsk