Signs of a clear, but fragile recovery in air cargo demand are being driven by companies restocking inventories which have run low, the International Air Transport Association (IATA) said on Thursday. But this pick up would remain “fragile†as long as economic recovery is driven by the inventory cycle, and not by increased consumption and business investment, IATA warned. International air freight demand was 11.3 per cent lower in July than the same month in 2008, a considerably … [Read more...] about Air cargo upturn underway, but “fragileâ€Â
Leasing & Chartering
EADS chief says orders may be down for two years
With the global economic quagmire flattening demand for aircraft, the head of Airbus SAS’s parent said carriers may be less inclined to take new aircraft in the next year or two as they grapple with the decline in global traffic, the said. “The market isn’t dead, we have some campaigns, but it’s not extremely active, that’s clear,†European Aeronautic, Defence & Space Co. chief executive Louis Gallois told Bloomberg. “It’s … [Read more...] about EADS chief says orders may be down for two years
Datamonitor: Positive economic signs a start
Positive economic indicators coming out of Europe, Asia and the US over the last ten days give reason to forecast a recovery in the global logistics and express industry. However, for global freight and parcel volumes and revenues to rebound significantly there will need to be major improvements in consumer confidence, industrial output and subsequent international trade volumes, according to new research by independent market analyst Datamonitor. … [Read more...] about Datamonitor: Positive economic signs a start
IATA: Cargo drop slowed but yield still down
The year long decline in global air cargo slowed in July but revenue and freight rates remain under intense pressure, the International Air Transport Association (IATA) said. Cargo volumes fell 11.3 per cent last month from July 2008, compared with a 16.5 per cent year-on-year decline in June and a 19.3 per cent average for the first seven months of the year, it said. Despite this improvement the July load factor, or capacity utilisation, fell to 47.6 per cent from 49 percent in July 2008. "The … [Read more...] about IATA: Cargo drop slowed but yield still down
China posts 7.9% GDP growth for second month
China has reported a 7.9 per cent year-on-year growth in its estimated gross domestic product (GDP) for the second quarter, spurred by a government economic stimulus package. The April-June figure was up from 6.1 per cent in the first quarter and took China's GDP growth to 7.1 per cent for the first six months of this year compared with the same period last year, according to the country's National Bureau of Statistics. In another sign of improvement, China's industrial output grew by 10.7 per … [Read more...] about China posts 7.9% GDP growth for second month
CHINA: BOC Aviation goes bargain hunting
BOC Aviation, the aircraft leasing arm of the Bank of China has said it has taken advantage of the economic downturn to expand its fleet, the South China Morning Post reported. BOC Aviation chief executive Robert Martin said the company has bought 40 planes since December, and had plans to invest US$10 billion in aircraft by 2012 to increase its fleet size to 196 from the current 96. Martin said the company would pursue further purchases in the third quarter, when an expected fall in industry … [Read more...] about CHINA: BOC Aviation goes bargain hunting