FedEx Express, subsidiary of FedEx Corp. has announced agreements to purchase six additional B777F freighters for its fleet worth about US$1.5 billion at list prices, which will be used to expand capacity to Asia and Europe from the US. The largest all-cargo airline in the world will purchase four B777Fs directly from Boeing and two from additional sources. Including this announcement, FedEx Express has agreed to purchase a total of 38 B777F aircraft. To date, FedEx Express has already taken … [Read more...] about FedEx to buy six more 777Fs
Express
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
Chip sales forecast to grow 30%
Global semiconductor sales, which have declined in the last two years, are set to rebound strongly with growth of 30.6 per cent this year, the iSuppli market research group says in a new forecast. The projected growth follows a 15.4 per cent decline in semiconductor sales in 2009, to US$229.9 billion, a drop that helped drag down cargo volumes in the air freight industry, where the transport of high-priced, low-weight chips is an anchor commodity. The expansion will add some US$70 billion in … [Read more...] about Chip sales forecast to grow 30%
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
Demand growing faster than expected
Demand for both international air travel and air freight accelerated in March with the rebound on the back of economic recovery exceeding expectations, the International Air Transport Association (IATA) said this week. IATA said the air traffic recovery would dip in April because of the disruption from the Icelandic volcanic eruption, which hit European carriers in particular, and added that passenger and freight markets are still one per cent below early 2008 highs and the industry has lost two … [Read more...] about Demand growing faster than expected
