Air cargo carrier Transmile Group Bhd, which is facing investigations by the Malaysian authorities over an accounting scandal, said its accounts were hit worse than expected and had slashed its market value by half, Malaysian Business Times reported. The paper also reported that Transmile Group Bhd’s founder and chief executive offi cer, Gan Boon Aun, had relinquished his post voluntarily with immediate effect following the recent disclosure of irregularities in the company’s … [Read more...] about MALAYSIA: Transmile audit shows losses in 2005, 2006
MALAYSIA: Tribunal rules against MAS in ACL case
After three years of proceedings, an arbitration tribunal has ruled that Malaysian Airline System Bhd (MAS) breached its obligation under a cargo ground handling agreement with Hahn, Germany-based ground handling company, ACL Advanced CargoLogistic GmbH. The tribunal proceedings against MAS at the ICC International Court of Arbitration in Paris, France, were initiated by ACL managing director, Uwe Beck in September 2004, claiming more than 60 million euros (RM240 million) for reneging on the … [Read more...] about MALAYSIA: Tribunal rules against MAS in ACL case
GATEWAYS
The fi nal assembly of the fi rst Boeing 787 has been completed and the fi rst “Dreamliner” left the assembly line late last month. The Boeing 787 Dreamliner is a mid-sized, wide body, twin-engined aircraft, which is scheduled to enter service in May 2008. Boeing has stated that it will be morefuel-effi cient than comparable earlier Boeing aircraft. It is also the fi rst major airliner to use composite material for most of its construction. … [Read more...] about GATEWAYS
Cargo joint venture faces dramatic oversupply, disastrous yields
The announcement by China Southern Airlines and Air France KLM that the airlines have entered into exclusive talks to launch a joint venture cargo carrier in China, merits some close analysis, because it comes at a time when main-deck and belly-hold capacity have fl ooded the market and as a result rates and yieldsare under extreme pressure. In this month’s Supplement - pages 46 -54 - most of the leading players in the Chinese market acknowledge that capacity has outgrown demand and … [Read more...] about Cargo joint venture faces dramatic oversupply, disastrous yields
Macau is betting on a vision
Macau’s airport was born during a wave of building new or replacement airports in southern China’s Pearl River Delta region largely caused by China’s then paramount leader Deng Xiaoping touring southern China in 1992 andencouraging economic development. Just about every wealthy city drew up plans for an airport. Of the major fi ve within about 40 miles or less of each other, a heady mixture of politics and economics surrounded theircreation: Shenzhen, immediately north … [Read more...] about Macau is betting on a vision
Payload Asia, May 2007 issue, Bellyache
Want to avoid Heathrow? Reading Bellyache, I noted the articles on BA and LHR. Living in London’s Docklands, I realised some years ago that flying out of London City (LCY) via Amsterdam is an excellent alternative. I have connected with EVA Air for Taipei while my partner has booked with KLM from LCY to Birmingham Alabama via Schiphol and Chicago. KLM doesn’t tend to push LCY for intercontinental connections and neither do travel agents but it’s great. You can check … [Read more...] about Payload Asia, May 2007 issue, Bellyache
