The sharp downturn in the air cargo market from October last year has resulted in British Airways World Cargo’ (BAWC) volumes falling 8.4 per cent over the third quarter of 2008, compared to a year earlier. A “marked and growing deterioration in market conditions” began during the third quarter of the financial year ending 31 December 2008, said British Airway’s cargo division. “The turndown in market conditions since November has been unprecedented and we … [Read more...] about EUROPE & CIS: BAWC volumes down 8.4% in Q3
EUROPE & CIS: Cargolux goes Italian
Cargolux Airlines International S.A. has entered into a strategic partnership in Italy to create Cargolux Italia for intercontinental all-cargo services from Milan’s Malpensa airport. Cargolux Italia has applied for a business license and certification with ENAC, the Italian civil aviation authority, in December 2008. It aims to become a fully certified Italian allcargo carrier. Start of operations is planned as soon as ENAC grants the required permits with the launch date expected … [Read more...] about EUROPE & CIS: Cargolux goes Italian
EUROPE & CIS: Lufthansa projects rise in '08 profit
Lufthansa yesterday raised its fullyear operating profit projection to €1.3 billion from the previous €1.1 billion. The carrier reported a €1.38 billion operating profit in 2007. Lufthansa said the increase in its forecast is “substantially attributable to a more stable result development in the fourth quarter than was previously expected.” It cited falling fuel prices and “favourable valuationeffects” without elaborating. … [Read more...] about EUROPE & CIS: Lufthansa projects rise in '08 profit
EUROPE & CIS: Lufthansa Cargo plugs Italian cargo gap
Lufthansa Cargo has from 18 February commenced freighter flights from Milan to New York and Chicago. The twice-weekly service from Milan- Malpensa Airport is to be operated by an MD-11 freighter. Lufthansa Cargo Chairman Carsten Spohr said: “Italy is Europe’s major airfreight market after Germany. The new freighter service will allow Lufthansa Cargo to further entrench its leading position in Italy and offer direct flights on cargo aircraft from Italy to the USA. The Lufthansa … [Read more...] about EUROPE & CIS: Lufthansa Cargo plugs Italian cargo gap
EUROPE & CIS: SAS cuts freighter unit
SAS, Scandinavia’s biggest airline, is set to cease freighter services and shrink other cargo operations as part of a radical restructuring to stem losses and retain its independence in the fast consolidating European airline industry. The part state-owned carrier said in future its freight unit, SAS Cargo, “will focus on selling belly cargo capacity forthe group’s airline operations.” It said other activities would be discontinued or outsourced to third parties. SAS … [Read more...] about EUROPE & CIS: SAS cuts freighter unit
EUROPE & CIS: Air France-KLM plunges into red
Air France-KLM has plunged into a third-quarter operating loss of €194 million euros, reflecting what the airline described as a deepening economic crisis. The losses were expected after Europe’s largest airline group warned of a quarterly loss of 200 million euros last month, as the global economic crisis pulls the airline sector deep intothe red. Overcapacity and evaporating fuel surcharges put pressure on cargo pricing in the third quarter, driving down unit revenue as freight … [Read more...] about EUROPE & CIS: Air France-KLM plunges into red
