The parent of China Eastern Airlines may receive a further capital injection of US$292 million from the central government. The official Shanghai Securities News quoted China Eastern Air Holding deputy general manager Li Jun as saying that the injection, which would bring total government aid to $1.3 billion, still required approval from the authorities. It also quoted Luo Zhuping, the listed company’s board secretary, as saying there was no timetable for receiving additional … [Read more...] about CHINA: China Eastern group may get $292M aid
CHINA: OECD cuts China’s growth figure again
The Organisation for Economic Cooperation and Development (OECD) will cut its 2009 economic growth projection for China to below 6.5 per cent, the Wall Street Journal reported. The OECD’s previous forecast, made in November, was 8 per cent, but Richard Herd, the organisation’s chief economist, said it was unlikely China will achievethis goal. Last week, the World Bank revised its projection for China’s GDP growth to 6.5 per cent from 7.5 per cent. Herd said … [Read more...] about CHINA: OECD cuts China’s growth figure again
CHINA: Air China eager to set up Shanghai cargo carier
China’s Air China is set to buy East Star Airline and also negotiating with Cathay Pacific and China Eastern subsidiary China Cargo Air to establish a joint venture cargo airline in Shanghai, according to a report in Chinastakes.com. Air China chairman Kong Dong, who also is general manager of Air China Group, Air China’s parent company, said the buyout deal - with the nine-plane, 10-route East Star Airline - would be finalised soon. East Star is believed to owe … [Read more...] about CHINA: Air China eager to set up Shanghai cargo carier
CHINA: China’s cargo traffic down 28% in Feb
China’s air cargo traffic volume declined 28 per cent year-on-year in February due to the deepening global economic crisis, Li Jiaxiang, director of the Civil Aviation Administrationof China (CAAC), said according to a Chinadaily.com report. The country’s domestic passenger air traffic grew 13.5 per cent year-on-year in February while passenger traffic on international routes fell 16 per cent, Li said. He said China’s total passenger traffic growth for 2009 is … [Read more...] about CHINA: China’s cargo traffic down 28% in Feb
MALAYSIA: MASkargo may slash cargo capacity again
Malaysia Airlines (MAS) may slash another 20 per cent of its cargo capacity in the coming months following a cut of 23 per cent year-on-year since the fourth quarter of the 2008 financial year ended31 December. That aggressive cut helped to bolster MAS’ cargo load factor at 65.6 per cent in the fourth quarter, with yield of 90.4 sen (US$0.25) per load tonne km, compared with the load factor of 64 per cent and yield at 91.8 sen per load tonne km in the corresponding period a year … [Read more...] about MALAYSIA: MASkargo may slash cargo capacity again
MALAYSIA: ASEAN must aim high in market liberalisation
Malaysia must be a strong voice in encouraging ASEAN member states to keep the regional open skies roadmap on track, says IATA’s Bisignani. ASEAN has missed the December 2008 deadline to open markets between capital cities on a multilateral basis, said Giovanni Bisignani, director general and CEO of the International Air Transport Association (IATA). “Malaysia must be a strong voice encouraging ASEAN member states to fulfill their obligations under the ASEAN Roadmap for … [Read more...] about MALAYSIA: ASEAN must aim high in market liberalisation
