Cathay Pacific Airways has announced it has reached an agreement with Airport Authority Hong Kong (AAHK) to delay the completion of its new cargo terminal by up to two years to mid-2013. The terminal had originally been scheduled foropening in the second half of 2011. Cathay said the decision “was taken in response to market conditions brought about by the global economic downturn” and that it is aimed at “better matching supply and demand in the airfreight business given … [Read more...] about Cathay gets OK to delay new cargo terminal

Singapore has concluded an Open Skies Agreement (OSA) with Iceland giving airlines from both countries full flexibility to operate air services between and beyond both countries, as well as via intermediate points, without restrictions on capacity, frequency and aircraft type. The Singapore-Iceland OSA is also more liberal than most OSAs, as it allows for unlimited “hubbing rights”, also known as “7th freedom traffic rights”, for both passenger and cargo services. … [Read more...] about Singapore inks OSAs with Czech Rep & Iceland

Despite the global economic slowdown in the second half of 2008, Singapore Changi Airport handled a higher volume of passenger traffic, with 37.7 million passenger movements handled in 2008, up 2.7 per cent from 2007. But the impact on cargo was more pronounced on the cargo front, where, compared to 2007, airfreight movements dipped 2 per cent to register 1.86 million tonnes in 2008. “We acknowledge that 2009 will be a challenging year and recognise the tough operating environment … [Read more...] about Pax numbers fare better than cargo at Changi

Hong Kong’s December air cargo throughput plunged 29.7 per cent from a year earlier, on the back of weak global demand for Asian goods as a result of the deteriorating economic conditions in Western countries where many retailers were offering huge discounts to sell goods over the Christmas period. The decline in trade accelerated from a 19 per cent year-on-year drop in November, according to the latest data from Hong Kong Air Cargo Terminals Ltd (Hactl). “The global economic … [Read more...] about HK sees plummeting volumes