Flag carrier Garuda Indonesia recently signed a codeshare agreement with Hainan Airlines. EVP sales & marketing of Garuda Indonesia, Agus Priyanto said the MoU allows Garuda to operate three weekly round fl ights on the Jakarta-Beijing-Jakarta sector, using a B737NG. Hainan will be given the right to offer connecting fl ight for Garuda to Harbin, Hangzhou, Nanning and several other cities. As the fourth largest carrier in China, Hainan Airlines fl ies to 53 cities in China. Garuda … [Read more...] about INDONESIA: Garuda codeshares with Hainan
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INDONESIA: Garuda Indonesia sells assets
Plans to release 49 percent of Garuda Indonesia’s shares to strategic investors have been cancelled because the carrier is focusing on its re-structuring programme before an IPO in 2009. Part of the restructuring programme is selling all non-productive assets starting this year, to collect US$75 million, fi nancialdirector Alex Maneklaran said. The non-productive assets include the Garuda Indonesia building in Jakarta, fi ve DC-10 aircraft, and land. Although no names have been … [Read more...] about INDONESIA: Garuda Indonesia sells assets
INDONESIA: Megantara Air to focus on Singapore service
Indonesia’s new cargo airline, Megantara Air has decided to focus on strengthening its Jakarta-Singapore service, which it started on May 29. Deploying a B727-200, with a capacity of 22 tonnes, the carrier is operating fi ve weekly fl ights and with the arrival of a new freighter in the next two or three months, it will increase to ten weekly fl ights before the end of the year. CEO Sofyan Danu Siswantoro disclosed that Megantara Air was established in response to the booming air cargo … [Read more...] about INDONESIA: Megantara Air to focus on Singapore service
HONG KONG: SEKO starts charter flights from HKG
US-based forwarder and logistics provider SEKO said it has launched three dedicated, guaranteed charter fi ghts a week from Hong Kong to Chicago’s O’Hare International Airport, with connecting service to final destinations. The air cargo agreement was prompted by an anticipated increase in total supply chain management demands during the approaching peak shipping season. In addition to the three dedicated fl ights from Hong Kong, Seko also handles the pick-ups in Hong Kong, … [Read more...] about HONG KONG: SEKO starts charter flights from HKG
CHINA: Air China projects record profIts
Shares in Hong Kong-listed Air China shot up 18 percent to a record high of HK$7.27 (US$0.93) last month following an announcement that fi rsthalf net profi t for 2007 would be 20 times higher than a year earlier, the China Economic Review reported. The carrier said its strong fi nancials were driven by growing demand, renminbi appreciation and returns on unspecifi ed investments. However, analysts stressed that the profi t projection looks quite different when calculated according to … [Read more...] about CHINA: Air China projects record profIts
CHINA: Chinese CEP market to outgrow Germany
The booming Chinese courier, express and parcel (CEP) market will outgrow Europe’s largest market, Germany, within fi ve years if it maintains its current dynamic growth rates. The world’s four leading express players, DHL, FedEx, TNT and UPS, look set to win signifi cant market share from Chinese operators by expanding their domestic services. In response, Chinese players are trying to strengthen their fi nancial basis and enhance their services. Those are the key fi ndings of a new … [Read more...] about CHINA: Chinese CEP market to outgrow Germany