BOC Aviation has officially opened its latest subsidiary, BOC Aviation Leasing (Tianjin) Ltd, located within the Dongjiang Free Trade Port Zone in Tianjin, China. To mark the opening of this new subsidiary, Chen Siqing, president and vice chairman of Bank of China, and Cui Jindu, member of Standing Committee of the Communist Party of China Tianjin Committee and vice mayor of Tianjin, signed a Memorandum of Cooperation. "As BOC Aviation focuses on the next stage of its growth, in order to … [Read more...] about BOC Aviation opens new subsidiary in Tianjin
Leasing & Chartering
UTi charters B747F to ease US port congestion
UTi Worldwide has scheduled weekly charter service from Shanghai to the US to ease the backlog of goods needed in North America. "Airfreight demand has spiked in recent weeks to levels not seen in years" said Ed Feitzinger, UTi's executive vice president, Global Operations, "In order to provide relief to North American importers during these extraordinary times, we are offering dedicated premium lift service to the US Midwest." The 747 charter flights can carry over 100 tonnes of … [Read more...] about UTi charters B747F to ease US port congestion
SMBC places $8.5B Boeing order
Boeing and SMBC Aviation Capital announced an order for 80 737 MAX 8s, valued at more than US$8.5 billion at list prices. The deal is the largest single order for 737 MAXs from a leasing company. With this agreement SMBC Aviation Capital becomes the 50th 737 MAX customer and grows the programme’s order book to more than 2,400 airplanes. “It is 10 years since our business placed its first order with Boeing and we have enjoyed a decade of successful partnership since … [Read more...] about SMBC places $8.5B Boeing order
ATSG reports strong 3Q results
Air Transport Services Group, a provider of medium wide-body aircraft leasing, air cargo transportation and related services, reported consolidated financial results for the quarter ended 30 September 2014. Pre-tax earnings from continuing operations increased 25 per cent to US$15.6 million driven by a US$7.0 million improvement in airline profitability compared with a year ago. Nett earnings from continuing operations increased 23 per cent to US$9.6 million, from US$7.8 million in the third … [Read more...] about ATSG reports strong 3Q results
Payload Asia Awards 2014
The hard work, innovative solutions and many successes of the air cargo community were celebrated last night at the Payload Asia Awards 2014, which honoured the very best in the industry at a spectacular gala dinner and awards ceremony held at the Marina Mandarin Hotel in Singapore. Guest of honour at the event was the Director-General of Civil Aviation Authority of Singapore (CAAS), Mr Yap Ong Heng. The awards cover some 22 categories of the air cargo sector, as well as three special … [Read more...] about Payload Asia Awards 2014
AF-KLM undertakes surgery, Martinair spared
Contrary to much speculation in recent weeks, the Air France-KLM-Martinair group will retain its all-maindeck subsidiary Martinair, albeit with a drastically reduced fleet. Over the next two years Martinair Cargo’s fleet will drop dramatically from the current 10 aircraft to just three. All five old MD11F in the fleet will be retired progressively starting shortly and ending in 2016 and in addition, a B747-400ERF, which is currently leased to Etihad Airways, will be returned to the leasing … [Read more...] about AF-KLM undertakes surgery, Martinair spared
