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Datamonitor: Positive economic signs a start

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Positive economic indicators coming out of Europe, Asia and the US over the last ten days give reason to forecast a recovery in the global logistics and express industry. However, for global freight and parcel volumes and revenues to rebound significantly there will need to be major improvements in consumer confidence, industrial output and subsequent international trade volumes, according to new research by independent market analyst Datamonitor. … [Read more...] about Datamonitor: Positive economic signs a start

IATA: Cargo drop slowed but yield still down

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The year long decline in global air cargo slowed in July but revenue and freight rates remain under intense pressure, the International Air Transport Association (IATA) said. Cargo volumes fell 11.3 per cent last month from July 2008, compared with a 16.5 per cent year-on-year decline in June and a 19.3 per cent average for the first seven months of the year, it said. Despite this improvement the July load factor, or capacity utilisation, fell to 47.6 per cent from 49 percent in July 2008. "The … [Read more...] about IATA: Cargo drop slowed but yield still down

Air Berlin shelves plan to sell Liesure Cargo

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Air Berlin, Europe’s third-largest discount carrier said it has shelved plans to sell its standalone cargo unit - Leisure Cargo - after failing to attract a bid that matched the company’s own valuation and said it is reviewing an order for Boeing’s 787s. The company intends to hold on to the division after two bidders pulled out and one couldn’t arrange financing, CFO Ulf Huttmeyer told analysts. Air Berlin had been trying since March to unload the … [Read more...] about Air Berlin shelves plan to sell Liesure Cargo

Boeing announces revised 787 schedule

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The first test flight of Boeing’s long-delayed 787 Dreamliner passenger plane will happen by the end of 2009, some two years behind schedule, the company has said. Boeing also said it expected to deliver its first Dreamliner in the fourth quarter of 2010, compared with an original delivery date of May 2008. The company added that the new schedule reflects the previously announced need to reinforce an area of the fuselage where the wings meet the body of the aircraft. The company said … [Read more...] about Boeing announces revised 787 schedule

Korean adds additional B747F to Toronto

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The Greater Toronto Airports Authority (GTAA) has announced that Korean Air Cargo, the largest cargo carrier in the world, will be increasing its freighter service at Toronto Pearson. Beginning in early September, the airline will be adding a third weekly B747‐400F flight. “We are very happy to see this increase in service from Korean Air Cargo,” said Lloyd McCoomb, president and CEO of the GTAA. “This increased cargo offering is very good for the whole community we … [Read more...] about Korean adds additional B747F to Toronto

Air China to accelerate JV talks with Cathay

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Air China will accelerate talks with Cathay Pacific Airways regarding the formation of an air cargo joint venture based in Shanghai, the South China Morning Post reported. The venture is aimed at mounting a stronger challenge to China Eastern Airlines and Shanghai Airlines, which are set to merge this year. Air China posted a first-half net profit of US$424.4 million, up 155 per cent year-on-year on the back of rebounding domestic demand and lower fuel costs. Air China board secretary Huang Bin … [Read more...] about Air China to accelerate JV talks with Cathay