Globally, the 240 International Air Transport Association (IATA) member airlines - representing 84 per cent of global air traffic - carried nearly 48 million tonnes of cargo in 2013 of the cargo with freight tonne kilometres up only 1.8 per cent compared to 2012, but never-the-less an important reversal of the 1.1 per cent contraction that 2012 saw over 2011. The top five airlines ranked by total scheduled freight tonnes carried were: Federal Express (7.1 million), UPS Airlines (4.1 … [Read more...] about IATA members carried 48m tonnes of cargo in 2013
Logistics
Etihad-Alitalia deal is sealed, cargo to be resurrected
Etihad Airways and Alitalia have finally sealed their partnership, making the financially troubled Italian legacy carrier the eighth airline in Etihad’s Equity Alliance. Under the agreement, Etihad will invest €560 million in Alitalia for a 49 per cent stake. Relaunching and expanding Alitalia’s cargo business to serve the Italian market, Europe’s third largest, is a key part of the Gulf carrier’s strategy, Etihad CEO James Hogan said after signing the deal on 8 … [Read more...] about Etihad-Alitalia deal is sealed, cargo to be resurrected
Agility sees 1H profit up 11% in sluggish markets
Agility has announced its financial results for the second quarter of 2014, reporting a net profit of KD 12.9 million (US$45.5 million), an increase of 12 per cent compared to the second quarter of 2013. Revenues for the second quarter stand at KD 341.7 million, a four per cent decrease compared to the same period last year. EBITDA stands at KD 25.1 million, a six per cent increase compared to Q2 of 2013. For the first half of the year, Agility reported a net profit of KD 24.1 million, an … [Read more...] about Agility sees 1H profit up 11% in sluggish markets
Global freight traffic grows 2.2% in June: ACI
Global air freight markets achieved moderate growth of 2.2 per cent for the month of June, according to statistics from the Airports Council International (ACI). The recovery in world trade coupled with an improvement in domestic demand in advanced economies has helped bolster air freight markets over the last three quarters, the organisation said. Asia-Pacific experienced the strongest gains as compared to the previous year with a rise of 4.5 per cent. The Asian hubs of Hong Kong … [Read more...] about Global freight traffic grows 2.2% in June: ACI
Malaysia Airlines to delist for “complete overhaul”
Malaysia's state investment company said Friday it plans to make Malaysia Airlines fully government owned by delisting it from the country's stock exchange in order to undertake a major overhaul of the beleaguered carrier. Currently estimated to be bleeding $2 million a day after two major disasters – the disappearance of MH370 and the shoot down of MH17 – this year added to its longstanding financial problems. Malaysia Airlines hasn’t been profitable for the past three … [Read more...] about Malaysia Airlines to delist for “complete overhaul”
Malaysia Airlines to delist for “complete overhaul”
Malaysia's state investment company said Friday it plans to make Malaysia Airlines fully government owned by delisting it from the country's stock exchange in order to undertake a major overhaul of the beleaguered carrier. Currently estimated to be bleeding $2 million a day after two major disasters – the disappearance of MH370 and the shoot down of MH17 – this year added to its longstanding financial problems. Malaysia Airlines hasn’t been profitable for the past three … [Read more...] about Malaysia Airlines to delist for “complete overhaul”
