Australia’s federal court has dismissed a case against Singapore Airlines Cargo brought by the Australian Competition and Consumer Commission (ACCC). The ACCC has alleged that SIA Cargo was involved in illegal price-fixing over the carriage of air cargo, an investigation that is simultaneously being carried out by competition authorities around the globe, primarily in the US and Europe. Federal Court judge Peter Jacobson ruled that the ACCC had failed to properly specify material … [Read more...] about SINGAPORE: Singapore Airlines Cargo off the hook, for now
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SINGAPORE: Singapore Airlines sees profits plunge 92%
Singapore Airlines (SIA) said its January-March profit plunged 92 per cent as the global economic slowdowndepressed passenger and cargo movements. The carrier’s net profit for its fiscal fourth quarter was S$41.9 million (US$28.7 million), down from S$528 million a year earlier, it said in a statement. That took the net profit for the whole year to S$1.06 billion, down 48 per cent from the previous year. The company’s cargo division, SIA Cargo, booked a loss of … [Read more...] about SINGAPORE: Singapore Airlines sees profits plunge 92%
JAPAN: ANA Cargo feels the pinch and scales back
As the global economic crunch continues to depress the air cargo industry, All Nippon Airways (ANA) has moved to scale back its freighteroperations. The Japanese carrier has cancelled a wet-lease contract for two B767- 300 freighters with the Air Transport Services Group, leaving ANA with four 767-300 freighters plus one 767-300BCF. The carrier has six more 767-300BCFs on order. The carrier, like virtually all its competitors, has seen volumes decline nearly 20 per cent since late last … [Read more...] about JAPAN: ANA Cargo feels the pinch and scales back
JAPAN: Japan airport stake up for sale
Macquarie Airports, a fund managed by Australia’s biggest investment bank Macquarie Group, has offered to sell its 15 per cent holding in Japan Airport Terminal (JAT), Reuters reported. JAT manages Tokyo International Airport (Haneda) and also operates merchandise, food and beverage businesses at other airports in Japan at Narita and Kansai. Macquarie said it was offering to sell the stake back to JAT, as part of JAT’s tender offer to buy back a total 22 per cent of … [Read more...] about JAPAN: Japan airport stake up for sale
JAPAN: JAL posts US$651.2 million full-year loss
Japan Airlines has reported a net loss of Â¥63.1 billion (US$651.2 million) for the 2009 fiscal year ended 31 March, reversing a net profit of Â¥16.9 billion a year earlier. JAL recorded a 12.5 per cent decline in group revenue to Â¥1.95 trillion, while international cargo revenueslumped 23 per cent to Â¥152.1 billion. The company is forecasting further decreases in revenue of Â¥203.1 billion in the current year but hopes to offset that with a Â¥195 billion reduction in operating … [Read more...] about JAPAN: JAL posts US$651.2 million full-year loss
JAPAN: JAL and Mitsui agree to logistics cooperation
Japan Airlines Group (JAL) and Mitsui & Co., Ltd (Mitsui) have announced a new logistics business alliance. Under the partnership JAL will offer its air cargo services with Mitsui offering logistics solution services centering onsea freight. The two companies said the move represents the first of its kind cooperation between an airline and a general trading company in Japan. The two are aiming to offer a one-stop service solution to give customers an enhanced value chain with wider … [Read more...] about JAPAN: JAL and Mitsui agree to logistics cooperation
