Philippine low cost carrier Cebu Pacific and its wholly owned subsidiary Cebgo, generated a net income of P7.1 billion (US$144.4 million) from January to September 2016, equating to a 99.6 per cent increase from the P3.6 billion earned in the same period last year. The group's revenues grew 10.5 per cent to P46.7 billion with passenger revenues climbing by 10.1 per cent to P35.4 billion and cargo revenues also grew by 2.5 per cent to P2.5 billion for the first nine months of 2016. “Our … [Read more...] about Cebu Pacific sees profit double, cargo revenue up
Carriers
Volga-Dnepr delivers ‘jaw crusher’
An 88-tonne ‘jaw crusher’ used for gold mining has arrived at Russia’s Sokol Airport in Magadan onboard one of Volga-Dnepr Airlines’ An-124-100 freighters. The jaw crusher, which was transported along with other equipment and tooling from Pulkovo Airport in Saint Petersburg, will be used for primary ore crushing during the gold mining process in the Magadan Region. Volga-Dnepr was able to load the cargo using the An-124-100’s onboard loading systems, removing the need for the additional cost … [Read more...] about Volga-Dnepr delivers ‘jaw crusher’
Lufthansa Cargo continues cooperation with tech startups
Lufthansa Cargo is continuing its cooperation with RocketSpace on the Logistics Tech Accelerator programme. In 2015, Lufthansa’s logistics subsidiary was the world’s first cargo airline to take part in the new programme. US company RocketSpace is helping selected young technology companies and innovation drivers bring their ideas and visions of the future to life. “Digitisation will have a decisive impact on the future of the logistics industry. Lufthansa Cargo is driving this change. We are … [Read more...] about Lufthansa Cargo continues cooperation with tech startups
Turkish sees nine-month $463m net loss from last year’s $877m profit
Turkish Airlines has posted a net loss for the first nine months of 2016, of US$463 million - a dramatic change from the $877 million net profit for the same period last year. Revenues were down 6.0 per cent to $7.6 billion, while an operating loss of $154 million contrasted the $894 million operating profit for the same period in 2015. The carrier blamed political and economic instability in Europe and Middle East, over-capacity and tough competition in the market. Meanwhile, Turkish … [Read more...] about Turkish sees nine-month $463m net loss from last year’s $877m profit
Emirates Group sees profits slide 64%
The Emirates Group has reported a 64 percent year-on-year drop in net profit to US$364 million for the first half of its financial year ending 30 September 2016. Group revenue rose one per cent in the period to US$12.7 billion with Emirates Airline contributing US$11.4 billion, down one per cent. Chairman Sheikh Ahmed bin Saeed Al Maktoum said the result reflected increased competition, a strong US dollar against other currencies, and sustained economic and political uncertainty in many parts … [Read more...] about Emirates Group sees profits slide 64%
AF-KLM to launch new airline to compete with Gulf carriers
Air France-KLM has announced a new 'Trust Together' nine-point strategy to "return to a leadership position in our markets," which includes a new Air France airline called 'Boost', aimed at long-haul markets, according to chairman and CEO Jean-Marc Janaillac To be launched in the winter of 2017 and based at Paris CDG, it will have a fleet of 10 long-haul aircraft by 2020 with a specific focus to compete with Gulf airlines that are expanding into "key markets where Air France-KLM is pursuing … [Read more...] about AF-KLM to launch new airline to compete with Gulf carriers