World Airways, a subsidiary of Global Aviation Holdings has signed an agreement with Cargolux to operate one Boeing 747-400 freighter aircraft on a full-time basis beginning October 2010 through June 2011. "World Airways is proud to be a service provider to such an established, quality cargo carrier, and we look forward to an excellent partnership between our two companies," said Hendrik Falk, VP cargo sales for Global Aviation Holdings. … [Read more...] about World Air to operate B747-400F for Cargolux
Leasing & Chartering
China's 2010 trade surplus expected to fall sharply
Commerce ministry spokesman Yao Jian stated that China's trade surplus will fall steeply as the renminbi rises against foreign currencies, reported state media. Surpluses narrowed in the first quarter of 2010, with China declaring a US$7.24 billion trade deficit in March. China's trade surplus in April decreased 87 per cent from a year earlier, and the national surplus could nearly halve this year. China's largest trading partner for the first quarter was the European Union, with trade with the … [Read more...] about China's 2010 trade surplus expected to fall sharply
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
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
February demand still strong: IATA
The International Air Transport Association (IATA) announced that February 2010 international scheduled air traffic showed continued strengthening of demand. Compared to February 2009, cargo demand grew 26.5 per cent while passenger demand was up 9.5 per cent. Iata noted that cargo traffic, which plunged much further than passenger demand and ultimately hit bottom in December 2008, has a further 3 per cent to recover in order to return to pre-crisis levels. “We are moving in the right … [Read more...] about February demand still strong: IATA
IATA: January volumes continue upward trend
The International Air Transport Association (IATA) has announced that January 2010 demand for international scheduled air traffic showed continuing improvement, with international cargo demand up 28.3 per cent with only a 3.7 per cent increase in capacity. This pushed the cargo load factor to 49.6 per cent, a significant change from the 40.1 per cent recorded in January 2009. There are large geographical differences in the improvements. The strongest upturns have been seen in markets where … [Read more...] about IATA: January volumes continue upward trend