The Korean flag carrier posted a KRW272 billion (US$247.5 million) net loss for the fourth quarter of 2014 and a KRW458 deficit for the full year, widened from a KRW57 billion loss recorded in the year-ago period. The net loss for 2014 is reported to be the result of a stronger US dollar which inflated the value of Korean Air’s foreign debts although its operating profit rose, helped by a recovery in the global air cargo industry, falling oil prices and cost-cutting. Korean Air … [Read more...] about Korean Air widens 4Q losses
Freight Forwarders
Two management appointments for Virgin Cargo
Virgin Atlantic Cargo has announced two new senior management appointments to focus on its increasing transatlantic services and the development of its international network covering Asia, Australasia, the Middle East and Africa. Steve Hughes will transition from his role of regional vice president sales for Europe, Middle East and Africa (EMEA) to the newly-created post of vice president sales Transatlantic. In his new role, Hughes will be responsible for the airline’s sales in the … [Read more...] about Two management appointments for Virgin Cargo
DHL invests in new hub at Brussels Airport
DHL will invest EUR 114 million (approx. US$129 million) in the construction of a new hub at Brussels Airport. The new hub is expected to triple capacity from 12,000 to 39,500 shipments per hour. The original Brussels facility was set up in 1985 as a regional hub. In the last five years, Brussels has enjoyed solid double-digit volume growth. Due to this continuous growth and its central location in Europe, the Brussels Hub is increasingly being used as an international and transit hub, … [Read more...] about DHL invests in new hub at Brussels Airport
DoKaSch delivers 650 ULDs to EAT
ULD specialist DoKaSch Air Cargo Equipment + Repair has delivered nearly 650 LD3 air cargo containers to European Air Transport Leipzig GmbH, the freighter airline of Deutsche Post DHL. “We are proud to be chosen as one of the preferred suppliers of DHL´s growing air cargo related freight forwarding business“, said Marcus Franke, DoKaSch´s general manager and head of sales. The ULD specialist belongs to the DoKaSch Group, a Montabaur, Germany-headquartered … [Read more...] about DoKaSch delivers 650 ULDs to EAT
IAG Cargo joins all-in pricing bandwagon
IAG Cargo is joining other carriers such as Emirates SkyCargo, Qatar Airways and SAS Cargo in rolling up fuel surcharges into an all-in rate. IAG will drop its fuel surcharges (FSC), effective with the start of the Summer season. This will apply to all markets except Hong Kong, South Korea and Japan, where local regulations on surcharges apply. These countries are Hong Kong, South Korea and Japan. A spokesman for the cargo arm of British Airways and Iberia said that it will also remove the … [Read more...] about IAG Cargo joins all-in pricing bandwagon
UTi Worldwide expands presence in Malaysia
UTi Worldwide Inc. has expanded its freight forwarding footprint in Malaysia by opening new facilities in Port Klang and Kuantan. UTi combined its former offices in Kuala Lumpur and Port Klang into a new facility boasting the latest technology. "Our growth in footprint and investment in this new facility in Port Klang and our new office in Kuantan reflect the momentum that our business in Malaysia has seen over the last two years. Some of this is coming from our strategic interest in … [Read more...] about UTi Worldwide expands presence in Malaysia
