Qantas executives will reportedly receive a A$91 million pay-out, including $8 million for chief executive Geoff Dixon, on their last day of employment with the ¡°old¡± airline if the controversial $11.1 million Airline Partners Australia take-over goes ahead. The executives will cash into the new airline with cash and share incentives from the new private equity owners, including bonuses of up to 200 percent of their cash salaries; a stake in the new company of up to 4.5 percent; and a … [Read more...] about AUSTRALIA: Qantas take-over $91m for executives
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AUSTRALIA: Toll Holdings buys freighters
Australia-based freight firm, Toll Holdings has outlined plans for a series of future take-overs across Asia and developments that involved buying some freighters. Paul Little, managing director of the Melbourne-based road, rail, shipping and airline conglomerate, said Toll was looking at purpose-specific businesses in China and other parts of Asia. Buying them would allow Toll to speed up its plan to become a fully integrated logistics business, Little told the Courier-Mail newspaper. … [Read more...] about AUSTRALIA: Toll Holdings buys freighters
VIETNAM: Vietnam Air to be part-privatised
Vietnam Airlines, which carried more than 106,000 tonnes of freight in 2006, up 9.8 percent year-on-year, will be partially privatised next year, press reports in Vietnam said, citing the communist government. Vietnam Airlines, one of the most profitable state-owned enterprises, will be privatised in 2008 under a decision signed by Prime Minister Nguyen Tan Dung last month, the government said. Officials have said in the past that the government will maintain a controlling stake of up to 70 … [Read more...] about VIETNAM: Vietnam Air to be part-privatised
VIETNAM: Exim loan for Vietnam
The US Eximbank will lend US$400 million to help Vietnam Airlines purchase four Boeing 787 aircraft, state media said, in what would be the first US loan to Vietnam after Hanoi secured its WTO membership. Vietnam won a formal approval from the World Trade Organisation to become its 150th member in early 2007. In June 2005, the airlines signed a contract to buy four 787 ¡°Dreamliner¡± aircraft worth around $500 million at list prices for delivery in 2009 and 2010. Vietnam Airlines … [Read more...] about VIETNAM: Exim loan for Vietnam
THAILAND: Bangkok cargo cost warning
Logistics operators in Thailand have warned that operating costs will soar 80 percent if cargo handling is to be duplicated across two airports with the reopening of Bangkok¡¯s Don Muang Airport. A spokesman for the Thai Airfreight Forwarders Association, Kovit Thanyarattakul, was reported saying that the move late last year to the new Suvarnabhumi Airport had already resulted in 50 percent added costs for operators. He said that processing times at Suvarnabhumi ranged from four to … [Read more...] about THAILAND: Bangkok cargo cost warning
PHILIPPINES: Schenker completes BAX integration
A new logistics company has started its operations in the Philippines that will provide a full suite of services such as multi-modal freight, logistics, and supply chain management. Schenker Philippines, Inc. led by its managing director Reiner Allgeier, was an offshoot of the merger of BAX Global, Inc., CPI Transport, Inc., and Star Trans International, according to a Bulletin report. The company has about 500 employees over nine locations throughout the Philippines. Schenker and BAX … [Read more...] about PHILIPPINES: Schenker completes BAX integration
