Malaysia Airlines has ridden the economic updraft and returned to profitability in the first quarter, with increased cargo volumes and passengers, along with compensation from Airbus over delivery delays of its A380 superjumbos. The carrier announced its January- March net profit of RM310 million (US$97 million), an improvement of more than RM1 billion from a loss a year earlier. Revenue surged 21 per cent to RM3.3 billion, including some RM329 million in compensation it received from … [Read more...] about SINGAPORE: MASkargo sees 16% improvement in yield

Southern Air and Malaysia Airlines Cargo (MASkargo) have announced that they have entered into a multi-year, multi-aircraft wet lease agreement. Southern Air initially will provide MASkargo with three Boeing 747 Freighters along with crew, maintenance and insurance. MASkargo also has an option to lease up to five aircraft, which will provide it additional flexibility to meet its customers’ growing demand for additional lift capacity and to develop the ability to service new … [Read more...] about MALAYSIA: MASkargo in lease deal for 3 B747Fs

Singapore Airlines (SIA) has said its fourth quarter net profit soared more than six-fold as the global economic rebound boosted travel and cargo demand. Net profit in the three months to March was S$278 million (US$197.5 million), up from $42 million in the same quarter the year before, the company said in a statement. Together with the $404 million net profit in the third quarter, the fourth quarter earnings reversed $466 million in losses recorded in the financial first half. The … [Read more...] about SINGAPORE: Singapore Airlines’ Q4 net profit up six-fold

Singapore and the Philippines have agreed to further expand the bilateral air services agreement between both countries. Singapore’s Transport Ministry says under the expanded bilateral air services agreement, Singapore carriers will be able to fly up to another 14 weekly services to and from Manila, with the same entitlements for Philippine carriers. In addition, carriers of both countries will have greater access to and from other Philippine cities. … [Read more...] about SINGAPORE: Singapore, Philippines expand air bilaterals

China’s state media agency, Xinhua reported that China, Japan and South Korea have started researching the feasibility of a free trade area (FTA) among the three Northeast Asian countries. Representatives from China, Japan and South Korea met to discuss a possible trilateral free trade agreement, which will involve government officials, industrialists and academics. The countries will aim to complete their research by 2012. Research institutions within the three countries have … [Read more...] about CHINA: China, Japan and Korea study FTA

China Southern resumed the twice weekly scheduled air service from Moscow’s Sheremetyevo International Airport to Urumqi which will be upgraded to four times a week from 1 June. The service will use Boeing 737s and Boeing 757s. … [Read more...] about CHINA: China Southern resumes Moscow service