Hong Kong Aircraft Engineering Co. Ltd. (HAECO) has opened a new two-bay hangar for Boeing 747-sized aircraft. It is also planning to open a new narrow body heavy maintenance joint venture with Sichuan Airline Group (42 per cent) and Sichuan Haite High-Tech (nine per cent), called Taikoo Sichuan Aircraft Engineering Services, in the second half of 2010. The joint venture will carry out Airbus A320 heavy checks for Chengdu-based Sichuan Airlines. Mid-2010 also will see Taikoo (Xiamen) … [Read more...] about HONG KONG: HAECO, TAECO both expand ops

Hong Kong Air Cargo Terminals Limited (Hactl) announced today its air cargo tonnage throughput for August 2009 indicated that overall cargo volume was picking up gradually. A total of 206,810 tonnes were handled in the month, representing a relatively milder year-on-year drop of 6.2 per cent. Cumulative tonnage from January to August was 1.4 million tonnes, down 17.9 per cent compared with the same period last year. … [Read more...] about HONG KONG: HK sees milder cargo declines in August

Asia Airfreight Terminal Co Ltd (AAT) announced today its tonnage throughput for August 2009 was 43,232 tonnes, down 16 per cent compared with the same month last year. Export cargo registered 28,945 tonnes, a decline by 18 per cent against same period last year. Import cargo volume for August was 13,815 tonnes, recording a decrease of 13 per cent from last year. Transhipment cargo volume was 472 tonnes, representing a year-onyear growth of 27 per cent. The cumulative tonnage throughput … [Read more...] about HONG KONG: AAT sees improving throughput for August

Cathay Pacific Airways, Singapore Airlines, Lufthansa and Air France-KLM have raised freight rates 10 to 15 per cent to take advantage of renewed US and European demand. The airlines have hiked rates to about US$2.71 to US$2.84 per kilogram on routes from Hong Kong to Europe and North America. A Shenzhen-based freight forwarder said Air China had raised freight rates seven per cent or $0.29 per kilogram for shipments to Europe and the US from 10 September, the South China Morning Post … [Read more...] about HONG KONG: Carriers raising rates as demand improves

Cathay Pacific Airways’ cargo volumes fell in August at the lowest rate so far this year, with a 6.3 per cent decline as Cathay cut cargo capacity 14.1 per cent, giving the Hong Kong-based carrier a healthy 72 per cent load factor, 4.3 percentage points better than August 2008. Cathay Cargo Sales and Marketing general manager Titus Diu said Cathay saw “a continued increase in demand out of our key home market, but while tonnage is undoubtedly picking up there is still a lot … [Read more...] about HONG KONG: Cathay volumes recover, only 6.3% August decline

Cathay Pacific has signed an agreement with aircraft leasing company BOC Aviation for the sale and leaseback of six of the 19 Boeing 777-300ER aircraft it has on order. CEO Tony Tyler said the move was consistent with the airline’s “cashpreservation” strategy saying Cathay had no intention of cancelling aircraft orders. “However, we are in negotiation with aircraft manufacturers to defer some of our deliveries to align our capacity with expected demand. We … [Read more...] about HONG KONG: Cathay signs leaseback deal for six B777s