Expressing sentiment expressed recently by a number of players in the airfreight industry, Toll Group chief executive Paul Little has said that airfreight was leading seafreight as the global economic recovery gathers steam. Little also predicted a rebound beginning in the fourth quarter this year. "Interestingly we've probably seen more interest in airfreight than seafreight," Little said speaking on ABC's Inside Business program. "Airfreight, of course, is a direct result of people trying to … [Read more...] about Airfreight rising faster than seafreight: Toll
Carriers
China-ASEAN Free Trade Area on track
The Chinese Vice Premier has reaffirmed his country's commitment to going beyond the China-ASEAN Free Trade Area (CAFTA) which is set to come into effect on January 1, 2010 in developing comprehensive economic cooperation in the Asian region. This agreement will provide a zero-tariff policy on 90 per cent of the products traded between China and ASEAN countries including Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. Once CAFTA takes … [Read more...] about China-ASEAN Free Trade Area on track
Korean pulls out of SkyTeam cargo alliance
Korean Air has terminated its involvement in the SkyTeam joint venture cargo sales alliance that had been formed with SkyTeam partners Delta and Air France. The Asian carrier's withdrawal effectively ended the joint venture after Delta Cargo decided to pull out late last year. Korean will now sell its cargo capacity in the US and Canadian market through its own offices following a revamp of its sales network creating one western and one eastern division. … [Read more...] about Korean pulls out of SkyTeam cargo alliance
MASkargo charts expansion plans
MASkargo, the air cargo subsidiary of Malaysia Airlines, has said that once its contract on the four Boeing 747-200F’s it wet leases from Air Atlanta Icelandic expires next year it hopes to acquire more modern and larger aircraft, possibly either 747-400’s or Airbus A330’s, to boost its capacity. … [Read more...] about MASkargo charts expansion plans
Classic B707 crashes in Sharjah on landing
A Boeing 707 cargo aircraft belonging to Sudan's Azza Air crashed in the United Arab Emirates at Sharjah airport on Wednesday while landing killing all six aboard. The airframe was originally delivered to Lufthansa on February 27, 1969. Since then it has also served with Condor, United Arab Emirate, Sudan Airways and Ibis Air Transport, as well as other carriers. … [Read more...] about Classic B707 crashes in Sharjah on landing
United posts $63 million loss for Q3
UAL Corporation, the holding company of United Airlines, reported a net loss of $63 million for the third quarter ended Sept. 30, 2009. Cargo revenue for the quarter decreased 43 per cent year-over-year as a result of lower volumes and continued pressure on yields due to the weak economy, the group said. "United's significant presence in the Pacific export markets, which have been particularly impacted by the weakness in the global economy, continues to disproportionately affect its cargo … [Read more...] about United posts $63 million loss for Q3