Qantas has returned to profitability in the six months ended 31 December 2009 after posting losses in the January-June half of 2009. Qantas posted a net profit of A$58 million (US$52 million) and $6.9 billion in revenue for the half year, compared to a net profit of $210 million and $8 billion in revenue for the same period 2008. Net freight revenue for Qantas Freight declined by A$96 million, or 19 per cent, compared to the same period 2008, due to major declines in yield. The economic downturn … [Read more...] about Qantas returns to profitability
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MASkargo hit by price fixing complaint in US
Malaysia Airlines (MAS) has been served with a complaint by a US court over allegations of price fixing on US cargo shipments. MAS said its offices in the US were served with the complaint, which was filed by Benchmark Export Services and six other plaintiffs against MAS and 11 other defendants. "The case involves allegations of price fixing on airfreight shipping services and related surcharges," it said, adding it was seeking legal advice in relation to the complaint … [Read more...] about MASkargo hit by price fixing complaint in US
Cathay beefs up Miami service
Cathay Pacific is set to add a fourth weekly cargo service to Miami as Asian exports to the US continue to recover. In its first year serving the destination, Cathay carried 13 859 tonnes of cargo into Miami, part of the US$3.5 billion worth of goods shipped from China to Miami last year, according to US trade statistics. … [Read more...] about Cathay beefs up Miami service
Air India cuts freighter pilots
Air India - which is phasing out Boeing B747-400s and Airbus A310 freighters - has terminated the service contracts of 30 of its pilots who fly the freighters with more cuts expected at the loss-making carrier. Air India currently has six B747-400s and two A310 freighters and recently leased out two other A310 freighters to the Delhi-based cargo upstart, Aryan Cargo. … [Read more...] about Air India cuts freighter pilots
March start for Swissport/Losch at Munich
Swissport International, a global provider of aviation ground services and its local partner Losch have announced they will be commencing their new joint operation at Munich Airport as planned on 1 March. The partners said they have already won business from a number of carriers, including: German- wings, Spanair, Air Berlin, Air Dolomiti and Czech Airlines as their first customers, with Continental Airlines joining from 28 March onwards. Swissport said negotiations are also nearing completion … [Read more...] about March start for Swissport/Losch at Munich
US tightens noose on ‘Merchant of Death’
US prosecutors filed new charges this week in their global pursuit of the suspected Russian arms dealer, Viktor Bout, dubbed the ‘Merchant of Death’. The updated indictment charges that Bout and his former business associate, Richard Chichakli – a Syrian-born American last reported to be living in Moscow - conspired to violate United Nations sanctions aimed at stopping bloody fighting in Africa by using a series of shell companies to try to purchase two planes from US … [Read more...] about US tightens noose on ‘Merchant of Death’