Figures for January released by IATA show air freight and passenger traffic heavily down again, dropping 23.2 and 5.6 per cent respectively. The sharp fall in air freight was even deeper than the 22.6 per cent drop in December and marks the eighth consecutive month of contraction for freight traffic. Asia Pacific carriers, representing 43 per cent of the market, led the cargo decline with a 28.1 per cent year-on-year drop. This was followed closely by the other major market players: European … [Read more...] about Deeper cargo drop in Jan
Carriers
Cathay bucks trend and expands cargo services
Cathay Pacific Airways today announced that it will expand its global freighter network with the launch of services to two new destinations in the US. On 6 March, the airline will add Miami and Houston to its list of US freighter destinations, which already includes New York, Chicago, Dallas, Atlanta, Los Angeles and San Francisco. The new service will follow a Hong Kong-Anchorage-Miami-Houston-Anchorage-Hong Kong routing and will be operated three times a week using B747-400ERF Extended Range … [Read more...] about Cathay bucks trend and expands cargo services
Alaska Air cargo defies downturn
Alaska Airlines posted fourth-quarter profits aided by the success of their cargo fleet and an increase in mail. For the first time ever, Alaska Airlines cargo surpassed US$100 million in revenue from airfreight and mail as the group posted a fourth-quarter net profit for 2008 of US$16.4 million, compared to a net loss of US$17.9 million in the fourth quarter of 2007. … [Read more...] about Alaska Air cargo defies downturn
Philippine Air sinks further into red
Philippine Airlines, a subsidiary of PAL Holdings Inc, incurred a net loss of US$113.8 million for the fiscal first half ended Sept 30 and widened that loss in the third quarter ending 31 December with a massive US$215.9 million loss. The third quarter loss was partially attributed to a US$42.4 million loss from fuel hedging contracts, the carrier said. … [Read more...] about Philippine Air sinks further into red
TNT reports 60% fall in 4Q profits
Dutch mail and express company TNT reported a 60 per cent fall in profit for the fourth quarter this week citing restructuring charges and worsening business conditions, especially in its express delivery arm. Net profit at Amsterdam-based TNT was €207 million, down from €250 million in the same period a year earlier. Sales fell 2.4 per cent to €2.93 billion. The company took €146 million in charges during the quarter to restructure both its mail and express divisions, … [Read more...] about TNT reports 60% fall in 4Q profits
Air India to go-ahead with B777 deliveries
Air India plans to go ahead with its planned delivery of the final three of eight B777-200LRs between June and August this year, despite the global crisis and resulting aviation downturn. Air India plans to deploy the aircraft on a new non-stop service to San Francisco in the second half of 2009. The National Aviation Co. of India Ltd., the state-owned parent of carrier Air India, plans to borrow US$1.06 billion to fund the purchase of these and additional aircraft from Boeing. India¡¯s … [Read more...] about Air India to go-ahead with B777 deliveries