Singapore-based NOL group has reported a net loss of US$23 million in the third quarter of 2014, and for the year to date a core EBIT shortfall of US$59 million, 31 per cent less than for the same period last year. The company stated that its cost management and efficiency drive delivered US$290 million of cost savings year-to-date. The cuts in expenditure were primarily achieved through a more efficient fleet and network optimisation. However, these savings were largely offset by lower rates, … [Read more...] about NOL reduces YTD core EBIT loss
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Delivered as promised? We think not.
Much has been said about the business of the integrators as the general air cargo industry psychoanalyses itself trying to figure out what happened to its once lucrative business. Modal change to ocean freight, yes indeed part of the equation, but as was so poignantly highlighted by FedEx chairman Fred Smith at last year’s Los Angeles World Cargo Symposium, its modal change to the integrators that the mainstream industry should most be worried about. Why? Because after four decades, … [Read more...] about Delivered as promised? We think not.
More consolidation for Euro carriers?
An interesting report caught my eye the other day. The Wall Street Journal carried a story on a report from the French export credit agency Coface that suggested Europe’s airlines may be preparing for what it described as a new “US-style merger round”. After the earlier round of mergers – Air France combining with KLM and Martinair; British Airways with Spain’s Iberia, BMI and Vueling; and Lufthansa with Swiss, Austrian and Germanwings – Coface says yet … [Read more...] about More consolidation for Euro carriers?
Let’s call the whole thing off. You say
‘tomaeto’, I say ‘tomahto’, you say ‘potaeto’, I say ‘potahto’. You say color, I say colour. You say tons, I say tonnes. Where are we going with this you ask? Well, if one our Belly Ache colleagues had his way, this page would be a nasty diatribe about all that is wrong with the good ole’ US of A – inspired of course, not by yet another school shooting or geopolitical misadventure somewhere in the world, but rather, as a result of … [Read more...] about Let’s call the whole thing off. You say
Releasing United Cargo’s untapped potential
After a combined 27 years at AFKLM- Martinair, which is now in the throws of deciding what to do with its maindeck business, Jan Krems may be counting his blessings that he made leap across the ‘pond’ from the Franco-Dutch carrier to the recently merged American giant. But aside from the potentially shrinking proportions of his former carrier, it was a very logical move for both Krems and United. With the top cargo job at United rather unexpectantly vacated by Robbie Anderson who … [Read more...] about Releasing United Cargo’s untapped potential
The pain of restructuring
In this issue we have stories on two very interesting developments – one that comes as little surprise and the other quite unexpected. I am of course speaking of the news that Malaysia Airlines (MAS) will be delisted from the country’s stock exchange and undergo what is said to be a massive overhaul and the other news from neighbouring Thailand where the military junta has declared Thai Airways (THAI) is to undergo a similarly substantial restructuring. Certainly both are in … [Read more...] about The pain of restructuring
