Airfreight operators in South Korea are benefiting from a strong recovery in the industry, according to a new report from Business Monitor International (BMI). In April, Korean Air reported record results for Q1 which saw operating profits for the company rise to KRW220.2 billion (US$197.6 million), a rise of 3,300 per cent compared with the same period in 2009. Despite the massive slump in airfreight demand in 2009, creating a low baseline for comparisons, BMI believes that the results are … [Read more...] about SOUTH KOREA: South Korea air freight to enjoy healthy growth

The Commercial Aircraft Corporation of China Ltd (COMAC) announced that GE Aviation Systems and AVIC Systems, the partners to a proposed AVIC GE joint venture, have been selected to provide the avionics core processing system, display system and on-board maintenance system for China’s newly launched C919 single-aisle aircraft. The AVIC GE joint venture will support COMAC for avionics integration for the 150-passenger C919. AVIC and GE are forming the new joint venture company to … [Read more...] about CHINA: GE/AVIC providing avionics for China’s C919

A senior Chinese aviation official threw himself in front of a railway train this week, the Xinhua news agency said, attributing his suicide to ongoing corruption investigations that have shaken the Civil Aviation Administration of China (CAAC). Liu Yajun, the 50-year-old head of CAAC’s Central and Southern Regional Administration, killed himself in late- June, just months after taking office in February, Xinhua said, citing airport sources. Since the start of the year, four … [Read more...] about CHINA: Chinese corruption investigation claims official

Major contract electronics maker Foxconn said recently it is finalising the relocation of its main production facilities in Shenzhen to Langfang, in China’s northern Hebei province, to mitigate rising labor costs, the Wall Street Journal reported. A spokesman for Foxconn said the relocation is expected to be completed this year. The manufacturer of products for companies including Apple, Nokia and Motorola. The Chinese government is in the early stages of a campaign to encourage … [Read more...] about CHINA: Foxconn an early mover, shifts Shenzhen to Hebei

Air China has reached a deal with Boeing for 20 Next-Generation 737- 800 aircraft which the carrier will use to expand its domestic routes. “Our long-standing and productive partnership with Air China goes back to the airline’s beginning and we’re proud to be part of their success,” said Jim Simon, vice president, China Sales, Boeing Commercial Airplanes. … [Read more...] about CHINA: Air China orders 20 B737-800 aircraft

China’s trade surplus was US$20 billion in June, the highest level in eight months, Bloomberg reported. The increase came largely thanks to surging exports, which were up 43.9 per cent year-on-year. But customs officials were quick to warn that troubles in the Eurozone had begun to affect Chinese exports to the region. Weakened US demand, increased wages, and reduced export tax rebates were also working to undermine the competitiveness of Chinese exports and international pressure on … [Read more...] about CHINA: China’s trade surplus rises in June