Dutch mail and express company TNT reported a 60 per cent fall in profit for the fourth quarter this week citing restructuring charges and worsening business conditions, especially in its express delivery arm. Net profit at Amsterdam-based TNT was €207 million, down from €250 million in the same period a year earlier. Sales fell 2.4 per cent to €2.93 billion. The company took €146 million in charges during the quarter to restructure both its mail and express divisions, where it had … [Read more...] about TNT reports 60% fall in 4Q profits
air cargo freight
MRO Supplement for April issue
In line with Payload Asia’s new coverage of the important maintenance, repair and overhaul (MRO) market, the next edition of the magazine will feature a supplement covering developments in this sector. With a steady annual growth of nearly 4 per cent the global MRO market is expected to exceed US$65 billion within the next decade. Traditional North American and European markets are expected to see a decreasing market share as more MRO hubs are established in Asia, the Indian … [Read more...] about MRO Supplement for April issue
100% US cargo screening update
The Association of Hong Kong Air Freight Forwarding Agents (HAFFA) is fortunate that one of our members, David Fielder, was recently appointed as chairman of the FIATA Ad Hoc Working Group on Security and is in a position to be one of the first to hear about any regular updates on security issues. David has recently advised us concerning the subject of 50 and 100 per cent screening of cargo under the US Aviation Security Act. The issue of the 100 per cent screening is still very uncertain and … [Read more...] about 100% US cargo screening update
New air traffic control in Riyadh online
Saudi Arabia’s General Authority of Civil Aviation (GACA) has begun the experimental operation of a regional air traffic control centre at King Khaled International Airport in Riyadh which will control Saudi airspace between 35,000 feet to 46,000 feet in elevation. “The operation of the centre is an important step in the development of air navigation services in the Kingdom in that it will increase the absorption capacity of Saudi airspace, meet the requirements of users as well … [Read more...] about New air traffic control in Riyadh online
Fraport sells Germany’s Hahn airport for €1
Fraport AG has sold Frankfurt-Hahn, one of Germany’s leading all-cargo airports, for the symbolic price of €1. The company, which also owns Frankfurt-Main airport, Europe’s biggest cargo hub, sold its 65 per cent stake in Hahn to the German federal state of Rhineland-Palatinate. Fraport said the deal, effective 1 January, ends all its financial obligations to Hahn, which had operated at a loss for several years. Cargo traffic at Hahn fell 11 per cent in 2008 from the … [Read more...] about Fraport sells Germany’s Hahn airport for €1
2009 annus horribilis for European airports
This year will be an “annus horribilis” for European airports after passenger traffic dropped 7.7 per cent year-on-year in December and freight plunged more than 21 per cent, the head of airports body ACI Europe said. “Talking to our members I get the feeling that January is going to be worse than December, and even November, which was down 8.2 percent,” ACI Europe Director General Olivier Jankovec told Reuters. “We have members with even a double-digit … [Read more...] about 2009 annus horribilis for European airports
