Malaysia's state investment company said Friday it plans to make Malaysia Airlines fully government owned by delisting it from the country's stock exchange in order to undertake a major overhaul of the beleaguered carrier. Currently estimated to be bleeding $2 million a day after two major disasters – the disappearance of MH370 and the shoot down of MH17 – this year added to its longstanding financial problems. Malaysia Airlines hasn’t been profitable for the past three … [Read more...] about Malaysia Airlines to delist for “complete overhaul”
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Malaysia Airlines to delist for “complete overhaul”
Malaysia's state investment company said Friday it plans to make Malaysia Airlines fully government owned by delisting it from the country's stock exchange in order to undertake a major overhaul of the beleaguered carrier. Currently estimated to be bleeding $2 million a day after two major disasters – the disappearance of MH370 and the shoot down of MH17 – this year added to its longstanding financial problems. Malaysia Airlines hasn’t been profitable for the past three … [Read more...] about Malaysia Airlines to delist for “complete overhaul”
Cathay Pacific invests in US biofuel developer
Cathay Pacific Airways announced today that it is the first airline investor in Fulcrum BioEnergy, Inc., a US-based sustainable biofuel developer, as part of the airline’s biofuel strategy and to help it achieve a target of carbon-neutral growth from 2020. The airline has made a strategic equity investment in Fulcrum, which is a world pioneer in the development and commercialisation of converting municipal solid waste into sustainable aviation fuel or 'biojet fuel’. … [Read more...] about Cathay Pacific invests in US biofuel developer
Air cargo volume growth slows in June: IATA
The International Air Transport Association (IATA) released data for global air freight markets showing 2.3 per cent growth in demand (measured in freight tonne kilometers) over June 2013, a growth rate that is slower than the 4.9 per cent growth reported for May. Nevertheless, overall growth for the first six months of 2014 stands at 4.1 per cent compared to the same period in 2013. That is much stronger than the weak 1.4 per cent increase reported for the full-year 2013 over 2012 levels, … [Read more...] about Air cargo volume growth slows in June: IATA
Scoot selects UTC Aerospace for B787s
Scoot the wholly-owned low-cost, long-haul subsidiary of Singapore Airlines, has selected UTC Aerospace Systems to provide asset management and repair services for components on its B787 aircraft through a Comprehensive Accessory Repair and Exchange (C.A.R.E.) programme agreement. Under the agreement UTC Aerospace Systems will provide inventory support and maintenance, repair and overhaul (MRO) services for 10 B787-9 and 10 B787-8 aircraft to be operated by Scoot. Products supported under … [Read more...] about Scoot selects UTC Aerospace for B787s
YTO Express gets ‘ok’ to launch cargo carrier
Seeking to tap China’s 2015-estimated nine million tonne air freight market, YTO Express is the latest Chinese express provider to receive approval to launch a domestic cargo airline. The Hangzhou Xiaoshan International Airport-based carrier will initially operate either B737-300 or 737-400 freighters on domestic routes with plans to expand to 15 Boeing freighters in the next three years. The company plans to invest CNY5.5 billion (US$890 million) in its … [Read more...] about YTO Express gets ‘ok’ to launch cargo carrier