ILFC boss forecasts airframe production cuts International Lease Finance Corp (ILFC) chairman and CEO Steven Udvar-Hazy has projected that both Airbus and Boeing will cut production over the next two years by as much as 30-35 per cent. Airbus currently plans to produce close to 500 aircraft this year, while Boeing's target is 480-485 units, but just last week Airbus revealed that it had 12 order cancellations in January - three A318s, two A319s, three A320s and four A321s - while booking just … [Read more...] about ILFC boss forecasts airframe production cuts
Air Cargo Asia
Korean sees crude prices at US$75/bbl in '09
Korea Air Lines, the world's largest cargo airline, said it expects US crude oil prices to average US$75 a barrel in 2009, down from US$99.75 a barrel in 2008. As a result, the country's two carriers, Korean Air and its smaller rival Asiana Airlines said last week they would abolish fuel charges for Korea-outbound international passenger flights from 1 March to 30 April, but Korean Air said surcharges on cargo will remain at 30 won (US$0.22) per kilometre, the lowest level of fuel charges … [Read more...] about Korean sees crude prices at US$75/bbl in '09
Atlas/Polar retire seven B747 classics early
Atlas Air Worldwide, parent of Atlas Air and Polar Air Cargo, said it will retire seven of its 14 747-200s. "The current pronounced downturn in global airfreight demand has caused us to accelerate our plans to retire a portion of our older 747-200 assets," president and CEO William Flynn said. AAWW expects to report full-year 2008 pre-tax operating income of US$55-$60 million when it releases its earnings on 24 February. … [Read more...] about Atlas/Polar retire seven B747 classics early
Aeroflot interested in Czech Air
Aeroflot confirmed its interest in purchasing a stake in CSA Czech Airlines following the Czech government's 5 February tender launch. It intends to sell 91.5 per cent of the national carrier in a two-round tender, but Aeroflot can only acquire a maximum of 49 per cent of the carrier because of European regulations … [Read more...] about Aeroflot interested in Czech Air
Air France joins SIA, MAS withdrawl from Chennai
Chennai is seeing a contraction of services as Air France has advised the Airports Authority of India (AAI) that it would be withdrawing its three-times weekly service out of Chennai from end-March, joining Singapore Airlines and Malaysian Airlines who have already cut their daily services to Chennai. … [Read more...] about Air France joins SIA, MAS withdrawl from Chennai
US air cargo plummets 17 per cent
A collapse in trans-Pacific trade pushed cargo traffic for US airlines down 17 per cent in December representing the worst year for US air cargo carriers since 2001. Overall traffic for the airlines declined 3.2 per cent in 2008, according to the Air Transport Association (ATA), including a 5.5 per cent drop in domestic business and a 1.2 per cent in internationally. The drop last year reached its height in December with a 29.5 per cent decline in December cargo volumes, year-on-year. Despite a … [Read more...] about US air cargo plummets 17 per cent
