Singapore Airlines (SIA) saw its cargo load factor for December drop 6.8 percentage points to 55.2 per cent from 62 per cent a year earlier while passenger load factor dropped 4.4 percentage pointsto 79.9 per cent from a year earlier. As a result of the falling demand the carrier is cancelling more than 200 flights from now until the end of March. In a circular to travel agents earlier this week, SIA said it would reduce the number of fl ights to Shanghai, Hong Kong and Guangzhou in … [Read more...] about SINGAPORE: Singapore Airlines cuts flights as load factors fall
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VIETNAM: Vietnam Air sees 39% drop in profit
Vietnam Airlines has reported a pre-tax profi t for 2008, of US$14 million, down 39 per cent from the US$23 million earned a year earlier, according to AFP. GD Pham Ngoc Minh said the carrier “has never faced so many continuous challenges and disadvantages,” even though full-year revenue climbed 22.8 per cent toUS$1.56 billion. … [Read more...] about VIETNAM: Vietnam Air sees 39% drop in profit
HONG KONG: Cathay loses US$980M on hedging gamble
Cathay Pacific Airways has joined many of its counterparts in reporting huge fuel-hedging losses, plunging the previously profitable Asian carrier into an expected record loss for last year, theSouth China Morning Post reported. The loss on Cathay’s fuel-hedging contracts as of the end of last month amounted to around US$980.1 million, deepening from the $361.1 million loss estimated to have been incurred at the end of October, according to the third profit warning filed by the airline … [Read more...] about HONG KONG: Cathay loses US$980M on hedging gamble
CHINA: China to take delivery of 241 aircraft in ’09
China is set take delivery of 241 new planes this year, 16 of which are delayed orders from 2008, Dow Jones reported.According to the Civil Aviation Administration of China (CAAC) the new aircraft would increase passenger seat capacity by 16 per cent despite the leases on 43 planes expiring this year. … [Read more...] about CHINA: China to take delivery of 241 aircraft in ’09
CHINA: Okay waiting for official “OK” to resume ops
Okay Airways has applied to the Civil Aviation Authority of China (CAAC) for permission to resume operations after suspending operations in December. Okay Chairman Liu Jieyin told Chinese press that “fund shortages” – estimated to be nearly US$14 million – remain the key obstacle to the Tianjin-based airline’s relaunch. Okay operated cargo flights in conjunction with FedEx and hopes to resume its cargo operations once CAAC approval is granted. The carrier … [Read more...] about CHINA: Okay waiting for official “OK” to resume ops
CHINA: PC sales slow in Asia Pacific
Personal computer shipments in Asia Pacific, a key airfreight commodity, are growing at the lowest level since 2002, according to the latest statistics fromGartner. In line with global trends, the Asia Pacific region recorded fourth quarter 2008 PC shipment growth of just 1.8 per cent over the same quarter the previous year. This amounted to the volume reaching 19.5 million units. The China and India PC markets accounted for approximately 65 per cent of the market in the Asia Pacific in … [Read more...] about CHINA: PC sales slow in Asia Pacific
