Vietnam Airlines earned a pre-tax profit of US$8.1 million in 2009, down 42.1 per cent from the $14 million reported in 2008, according to a Agence France Presse report. The airline cited the global recession and H1N1 flu as the key reasons for the drop. Revenue declined 16.7 per cent to $1.3 billion. … [Read more...] about VIETNAM: Vietnam Airlines full-year profit tumbles 42%

Munich Airport and Bangkok’s Suvarnabhumi Airport have signed a Sister Airport agreement linking the two international air transportation hubs and further enhancing the longstanding cooperation between the two airports. Munich Airport played a key role in the successful launch of operations of the new Bangkok Airport in 2006 and the new agreement is expected to extend this cooperation into the areas of technology and airport operations, as well as media relations. The partners also … [Read more...] about THAILAND: Munich and Bangkok airports now ‘sisters’

An Air West Georgia Il-76, seized and detained in Bangkok on 11 December, was carrying arms destined for Iran, according to US media reports. The aircrew were apprehended by Thai authorities after a tip-off from the US CIA that the aircraft was carrying an illegal weapons shipment out of North Korea. The Il-76 was found to be carrying 35 tonnes of missiles, including surfaceto- air missiles and rocket launchers. The aircraft’s five crew from Kazakhstan and Belarus, have … [Read more...] about THAILAND: Air West Georgia IL-76 carrying arms for Iran

EVA Air, one of Asia’s largest cargo operators, has been boosted by the pre-Christmas cargo rush, with cargo volume soaring 50 per cent to 64,120 tonnes which helped push yields up 9.7 per cent in December 2009, for the second consecutive month of growth, after 11 straight months of massive cargo yield reductions. The yield improvement comes off a negative base however, as EVA’s cargo yield was down 15.4 per cent in December 2008 year-on-year. … [Read more...] about TAIWAN: EVA’s yields boosted by pre-Christmas rush

Singapore Airlines said it plans to restore some of its scheduled flights in the first quarter adding that it will also suspend flights to Pakistan and to Nanjing, China, as part of an overhaul of its network. “Positive signs of a recovery in demand continue to be seen, but operating conditions remain challenging and yields in particular remain under pressure,” SIA said in a statement. The additional belly capacity of the restored passenger flights will return some of SIA … [Read more...] about SINGAPORE: SIA to restore some pax flights

Asia’s small and medium sized enterprises (SMEs) face both new challenges and opportunities as they emerge from the financial crisis according to a new research report by the Economist Intelligence Unit (EIU), commissioned by FedEx Express. The study shows that while cost controls remain crucial to survival, SME exporters may benefit from both new sources of consumer demand within Asia and from the rising volume of trade within the region. The benefits are even greater if more … [Read more...] about CHINA: New trade landscape emerging for Asia’s SMEs