The International Air Transport Association (IATA) called on European governments and air navigation service providers to urgently develop more precise procedures to identify ash contaminated air space and allow more flights. The call came in the wake of 1,000 flight cancellations on Monday (17 May) as a result of the continued volcanic eruptions in Iceland. “This problem is not going away any time soon. The current European-wide system to decide on airspace closures is not working. We … [Read more...] about IATA blasts Europe again over volcanic crisis
Courier & Mail
China’s 2010 trade surplus expected to fall sharply
Commerce ministry spokesman Yao Jian stated that China's trade surplus will fall steeply as the renminbi rises against foreign currencies, reported state media. Surpluses narrowed in the first quarter of 2010, with China declaring a US$7.24 billion trade deficit in March. China's trade surplus in April decreased 87 per cent from a year earlier, and the national surplus could nearly halve this year. China's largest trading partner for the first quarter was the European Union, with trade with the … [Read more...] about China’s 2010 trade surplus expected to fall sharply
China's 2010 trade surplus expected to fall sharply
Commerce ministry spokesman Yao Jian stated that China's trade surplus will fall steeply as the renminbi rises against foreign currencies, reported state media. Surpluses narrowed in the first quarter of 2010, with China declaring a US$7.24 billion trade deficit in March. China's trade surplus in April decreased 87 per cent from a year earlier, and the national surplus could nearly halve this year. China's largest trading partner for the first quarter was the European Union, with trade with the … [Read more...] about China's 2010 trade surplus expected to fall sharply
ABX parent may expand fleet
Wilmington, US-based Air Transport Services Group Inc. (ATSG) has said it may expand its fleet by acquiring three B767-300 aircraft. ATSG is the parent corporation for ABX Air whose biggest customer was DHL Express before the German express and logistics company decided to pull out of domestic operations after years of losses. ATSG President and CEO Joe Hete said he is excited about the potential fleet expansion. ATSG’s aircraft leasing business recently executed a letter of intent … [Read more...] about ABX parent may expand fleet
TNT Q1 profit rockets up 90%
TNT has posted a net profit in the first quarter nearly double that of the same period a year earlier on strong gains in the express sector, but said it remains cautious about what it sees as a fragileeconomic recovery. TNT’s net profit jumped to US$190 million from $101 million, with the integrator realising a 54 per cent rise in operating profit to $334 million. Revenue increased 12 per cent to $3.65 billion — including $2.1 billion from the express division alone, … [Read more...] about TNT Q1 profit rockets up 90%
UPS posts strong Q1 results
UPS said its net profit soared 33 per cent in the first quarter on broad earnings gains across all its business segments giving further optimism that a full-blown economic recovery is in progress. “With global economies showing signs of recovery and UPS’ strong start to 2010, we are optimistic about this year and the future,†UPS chairman and CEO Scott Davis said. Overall, UPS showed a US$533 million net profit in the quarter, up from $401 million in the first three … [Read more...] about UPS posts strong Q1 results