China's exports declined 25.7 percent year-on-year in February, the fourth straight monthly decline, according to China's General Administration of Customs. Total foreign trade was US$124.95 billion in February, down 24.9 per cent year-on-year. Total Chinese exports in February amounted to US$64.9 billion, reflecting weak demand for Chinese goods in the US and Europe. The country's imports also slumped 24.1 per cent to $60.05 billion. China's trade surplus narrowed to US$4.84 billion, less than … [Read more...] about Chinese exports plunge 26% in February
Carriers
N. Korea warns away carriers from its skies
The United Nations' International Civil Aviation Organisation has called on North Korea to retract its threat against South Korean passenger planes. Last week, the North said it could not guarantee the safety of South Korean passenger jets flying near its airspace if Seoul continues with its plans to conduct 12 days of joint military drills with the US. Korean Airlines and Asiana have said they will re-route flights away from North Korea as a precaution." A military threat to the normal … [Read more...] about N. Korea warns away carriers from its skies
Finnair suspends Mumbai route
Finnair announced that it will temporarily suspend its four-times weekly Helsinki-Mumbai service from May until mid-October. The carrier said the decision was based on the ongoing unfavourable economic conditions affecting both passenger and cargo sales in India and Europe and noted the current overcapacity situation on Mumbai-Europe routes. … [Read more...] about Finnair suspends Mumbai route
China Eastern group may get $292m aid
The parent of China Eastern Airlines may receive a further capital injection of US$292 million from the central government. The official Shanghai Securities News quoted China Eastern Air Holding deputy general manager Li Jun as saying that the injection, which would bring total government aid to $1.3 billion, still required approval from the authorities. It also quoted Luo Zhuping, the listed company's board secretary, as saying there was no timetable for receiving additional aid. But an … [Read more...] about China Eastern group may get $292m aid
Cargo crime to jump as crisis deepens
The global economic downturn will lead to an increase in incidents of cargo crime in 2009, warns the Transported Asset Protection Association (TAPA). The latest statistics from the association's Incident Information Service (IIS) for the Europe, Middle East and Africa (EMEA) region show 3,756 reported incidents of cargo crime during 2008 with a total loss value of more than ¢ã170.6 million. This figure will continue to grow with incident data still being collated for last year, according to … [Read more...] about Cargo crime to jump as crisis deepens
Air China eager to set up Shanghai cargo carrier
China's Air China is set to buy East Star Airline and also is negotiating with Cathay Pacific and China Eastern subsidiary China Cargo Air to establish a joint venture cargo airline in Shanghai, according to a report in Chinastakes.com. Air China chairman Kong Dong, who also is general manager of Air China Group, Air China's parent company, said the buyout deal - with the nine plane, 10 route East Star Airline - would be finalised soon. East Star is believed to owe Hangzhou Xiaoshan Airport more … [Read more...] about Air China eager to set up Shanghai cargo carrier