Hong Kong's December air cargo throughput plunged 29.7 per cent from a year earlier, on the back of weak global demand for Asian goods as a result of the deteriorating economic conditions in Western countries where many retailers were offering huge discounts to sell goods over the Christmas period. The decline in trade accelerated from a 19 per cent year-on-year drop in November, according to the latest data from Hong Kong Air Cargo Terminals Ltd (Hactl). "The global economic performance remains … [Read more...] about HK sees plummeting volumes
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Airports
Air China moves to fully acquire cargo division
China's largest carrier, Air China is to purchase the remaining stake in Air China Cargo Co. Ltd, from Capital Airports Holding Company, which holds a 24 per cent share of Air China Cargo, for an estimated 798 million yuan. Air China currently holds a 76 per cent stake in the cargo subsidiary. Air China Cargo was co-established in March 2003 by Air China, Citic Pacific, and Capital Airports Holding Company. Air China originally held 51 per cent stake of Air China Cargo and later bought the 25 … [Read more...] about Air China moves to fully acquire cargo division
US airline groups seek US$4 billion in aid
US airline groups seek US$4 billion in aid A broad coalition of US airline and aerospace industry trade groups is reportedly seeking a US$4 billion slice of the economic stimulus package being mulled over by the incoming Obama administration, Dow Jones reported. The funds would be used to kick-start modernisation of the country's antiquated air traffic control system through equipping aircraft with satellite-based navigation technology. The plan is outlined in a letter to government officials … [Read more...] about US airline groups seek US$4 billion in aid
Changi buys into Indian airport developer
Singapore's Changi Airports International Pte Ltd has bought a 26 per cent stake in Bengal Aerotropolis Projects Ltd, which is building an estimated US$2.1 billion airport city at Durgapur in India's West Bengal state, according to an Economic Times report. … [Read more...] about Changi buys into Indian airport developer
AirAsia opts for own KL airport
Malaysian budget carrier AirAsia has unveiled plans to shift to its own US$460 million airport outside Kuala Lumpur, abandoning the current budget terminal next to Kuala Lumpur's main international hub. The move has thrown into doubt the national airport operator's plans to build a new Low Cost Carrier Terminal next to Kuala Lumpur International Airport (KLIA), to replace the existing facility that opened in 2006. AirAsia has rapidly outgrown the existing terminal adjoining KLIA, which has no … [Read more...] about AirAsia opts for own KL airport
Thailand’s Suvarnabhumi airport resumes full operations
Thailand's main international airport has officially resumed full operations, two days after anti-government protesters left the site. The People’s Alliance for Democracy (PAD) anti-government protesters ended their occupation at both Suvarnabhumi International Airport and Don Mueang Airport Wednesday, but airport authorities had to re-certify the airport in accordance with internationally-recognised standards and guidelines established by the International Civil Aviation Organization … [Read more...] about Thailand’s Suvarnabhumi airport resumes full operations
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