Malaysia's state investment company said Friday it plans to make Malaysia Airlines fully government owned by delisting it from the country's stock exchange in order to undertake a major overhaul of the beleaguered carrier. Currently estimated to be bleeding $2 million a day after two major disasters – the disappearance of MH370 and the shoot down of MH17 – this year added to its longstanding financial problems. Malaysia Airlines hasn’t been profitable for the past three … [Read more...] about Malaysia Airlines to delist for “complete overhaul”
Express
PIA optimistic of resuming cargo ops to EU
Pakistan International Airlines (PIA) is hoping to receive its ACC3 (Air Cargo or Mail Carrier operating into the Union from a Third Country) validation that will allow it to resume cargo service to Europe, which was suspended on 28 July. The national carrier says it is confident about getting the mandatory clearance as it has spent months putting in place relevant systems and procedures to comply with the new European Union conditions that came into effect officially on 1 July. … [Read more...] about PIA optimistic of resuming cargo ops to EU
DP-DHL sustains profit growth on mixed results
Deutsche Post–DHL (DP-DHL) turned in a set of mixed results for the second quarter with continued prosperity in the time-definite segment of its business, while others such as its freight forwarding business suffered margin pressure. The top-line numbers for the group saw only slight movement with revenue up 0.7 per cent year-on-year at €13.7 billion and EBIT (Earnings Before Interest and Tax) up 5.7 per cent year-on-year from €619 million in 2013 to €654 million this … [Read more...] about DP-DHL sustains profit growth on mixed results
Air cargo volume growth slows in June: IATA
The International Air Transport Association (IATA) released data for global air freight markets showing 2.3 per cent growth in demand (measured in freight tonne kilometers) over June 2013, a growth rate that is slower than the 4.9 per cent growth reported for May. Nevertheless, overall growth for the first six months of 2014 stands at 4.1 per cent compared to the same period in 2013. That is much stronger than the weak 1.4 per cent increase reported for the full-year 2013 over 2012 levels, … [Read more...] about Air cargo volume growth slows in June: IATA
Scoot selects UTC Aerospace for B787s
Scoot the wholly-owned low-cost, long-haul subsidiary of Singapore Airlines, has selected UTC Aerospace Systems to provide asset management and repair services for components on its B787 aircraft through a Comprehensive Accessory Repair and Exchange (C.A.R.E.) programme agreement. Under the agreement UTC Aerospace Systems will provide inventory support and maintenance, repair and overhaul (MRO) services for 10 B787-9 and 10 B787-8 aircraft to be operated by Scoot. Products supported under … [Read more...] about Scoot selects UTC Aerospace for B787s
CEVA confident on future as 2Q results down
Saying he was pleased with the progress made in rebuilding the leadership team at CEVA, the group’s CEO, Xavier Urbain, said: “Our performance improvement coupled with the strong increase in our new business pipeline points to the company being on the right track for growth... The numbers show we are gaining traction and are positioned well to make further progress in the future." Revenue of US$1.98 billion declined 4.2 per cent in the second quarter compared to $2.06 … [Read more...] about CEVA confident on future as 2Q results down
