Malaysia Airlines Cargo (MASkargo) forecasts a pre-tax profit of M$200 million (US$58.4 million) for the year ending December 31, 2007, versus the M$179 million it earned last year, according to a report in The Star. Malaysia Airlines (MAS) managing director and chief executive Idris Jala said that MASkargo, which had contributed more than five percent to MAS’ revenue last year, would target a pre-tax profit of M$200 million this year. MASkargo chairman N Sadasivan said cargo … [Read more...] about MALAYSIA:MASkargo eyes higher earnings

Shares in China Eastern Airlines (CEA) and Singapore Airlines (SIA) were suspended at the end of last month amid reports that Singapore would soon buy up to a quarter of the loss-making, Shanghai-based carrier for nearly US$1 billion. Although at press time, no official announcement about the purchase had been made, analysts said that a deal would bolster access to booming eastern China for Singapore Airlines, and beef up China Eastern’s balance sheet to help it compete with rivals … [Read more...] about CHINA: SIA to buy stake in China Eastern

In the past five years, the Department of Posts’ (DoP) mail traffic has registered a decline of nearly 50 percent due to increased competition from private couriers and other new modes of communication, especially the value-added services in the telecom sector, The Hindureported. According to a recent DoP’s performance audit report, DoP had failed to improve its operational efficiency, reduce staff costs and modernise its operations to render better services to the customer. … [Read more...] about India's Postal Department incurs losses

Germany’s Fraport, the operator of Frankfurt Airport, as become one of the sareholders of Xianyang nternational Airport in Nothwest China’s Shaanxi Province by obtaining a 24.5 percent stake, state media reported. Under an agreement signed last month, Fraport will pay 490 million yuan for the stake while the state-owned company Cina West Airport Group, former sole owner of the airport, will hold 50.9 percent of shares. The other two shareholders are China National Aviation … [Read more...] about Fraport takes stake in NW China airport