A Dutch executive with Martinair will serve eight months in jail and pay a US$20,000 fine for his part in an international air cargo price-fixing conspiracy, the US Justice Department said. Franciscus Johannes de Jong, aka Frank de Jong, formerly the vice president of cargo sales in Europe, agreed to plead guilty to fixing air cargo rates as part of a global conspiracy that ran from 2002 to 2006, the Justice Department said. De Jong and his co-conspirators "engaged in a conspiracy to fix the … [Read more...] about Martinair exec latest to face jail over price-fixing
Air China profits and may sell-off China East stake
Air China Ltd has reported profits of CNY 981 million (US$143.7 million) in the first quarter of 2009, after incurring a loss of CNY 9.15 billion, including CNY 7.47 billion from fuel hedging losses, in the full year 2008. After the third quarter 2008 plunge in the global air market, Air China slashed its capacity on European and US routes by more than 40 per cent, focusing instead on domestic routes. China National Aviation Holding Company (CNAHC), parent company of Air China, is also … [Read more...] about Air China profits and may sell-off China East stake
CentrAfrique Air Express B737 freighter crashes
News services are reporting that a Boeing 737 cargo aircraft has crashed and burned early this morning near Kinshasa, the capital of the Democratic Republic of Congo. Reports indicate the twin-jet, possibly belonging to CentrAfrique Air Express, took off from Brazzaville in the Congo and was headed for an interim stop in Nairobi en route to Harare, Zimbabwe. The flight originated in the Central African Republic city of Bangui. … [Read more...] about CentrAfrique Air Express B737 freighter crashes
DHL ups capacity on its Asia Air Network
Robust intra-Asian volumes have led DHL to increase capacity between Hong Kong and Singapore, which it serves through Air Hong Kong, a joint venture between Cathay Pacific and DHL. A 110 tonne capacity Boeing 747-400F will replace the current 45 tonne capacity A300-600F, and will operate between both cities six days a week, more than doubling capacity on the SIN-HKG route, a vital link for Intra-Asia trade, DHL said. “The Boeing 747-400F service will link DHL’s Central Asia Hub … [Read more...] about DHL ups capacity on its Asia Air Network
Panalpina Q1 profit nose dives 94%
Swiss logistics group Panalpina reported a 94 per cent drop in first-quarter profit to 1.9 million Swiss francs (US$1.64 million), but said it was on track to reach its cost-cutting goal for 2009 which includes cutting 10 per cent of its workforce. "The massive recession-related global volume decline seen since the end of 2008 has impacted Panalpina on all major trade lanes and had negative effects on the results in the first quarter," said chief executive Monika Ribar. "However, with the … [Read more...] about Panalpina Q1 profit nose dives 94%
DHL ups capacity on its Asia Air Network
Robust intra-Asian volumes have led DHL to increase capacity between Hong Kong and Singapore, which it serves through Air Hong Kong, a joint venture between Cathay Pacific and DHL. A 110 tonne capacity Boeing 747-400F will replace the current 45 tonne capcity A300-600F, and will operate between both cities six days a week, more than doubling capacity on the SIN-HKG route, a vital link for Intra-Asia trade, DHL said. “The Boeing 747-400F service will link DHL’s Central Asia Hub … [Read more...] about DHL ups capacity on its Asia Air Network
