Singapore Airlines (SIA), the world's largest airline by market value, has posted its second straight quarterly loss with a second quarter net loss of S$159 million (US$114.6 million) compared with a net profit of S$324 million a year ago. This follows from a net loss of more than S$300 million in the first quarter of this financial year. SIA Cargo posted an operating loss of US$193 million with yields averaging just $0.20 per load tonne kilometer, down almost a third over the same period in the … [Read more...] about SIA reports second straight quarterly loss
Air Forwarding
UPS looking at acquisitions
United Parcel Service Inc (UPS) is looking for acquisitions to bolster its supply-chain and freight-forwarding units, according to its CEO Scott Davis. UPS has made more than 40 purchases in the past decade, and there are “likely to be some more†in the coming year, with China, India and the Middle East at the “top of the list†for expansion, said Davis according to a Bloomberg report. “We’re strengthening ourselves in emerging markets, the Middle East, … [Read more...] about UPS looking at acquisitions
JAL cuts 16 routes, turnaround plan next year
Trougled carrier Japan Airlines (JAL) will discontinue a total of 16 routes starting next month as part of its own efforts to reduce operating costs and cut losses, Dow Jones reported. The airline said it will cut eight international passenger routes, mainly to destinations in Asia. A further eight domestic passenger routes will be discontinued, including short-haul flights like Tokyo to Kobe, as well as one cargo route. JAL also said it will downsize the aircraft used on a further five routes. … [Read more...] about JAL cuts 16 routes, turnaround plan next year
India to consider upping limit on foreign airline stake
The Indian government is set to consider a proposal to allow foreign airlines pick up to 49 per cent equity in Indian carriers. The government now allows 49 per cent foreign direct investment (FDI) in domestic carriers but bars foreign airlines from holding any stake directly or indirectly. … [Read more...] about India to consider upping limit on foreign airline stake
HK’s AAT volumes down only 3% in Oct
Asia Airfreight Terminal Co Ltd (AAT) has announced it handled 51,380 tonnes of cargo in October, down 3 per cent year-on-year. Export cargo registered 36,093 tonnes, a decline of 3 per cent against same period last year. Import cargo volume for October was 14,930 tonnes, recording a decrease of 4 per cent from last year. Trans-shipment cargo volume was 357 tonnes, down 2 per cent. The cumulative tonnage throughput from January to October 2009 was 403,106 tonnes, representing a year-on-year … [Read more...] about HK’s AAT volumes down only 3% in Oct
Revenue down 31% for BAWC in 1H
British Airways World Cargo (BAWC) has reported commercial revenue (flown revenue plus fuel surcharges) of £250.6 million for the first half of the financial year beginning 1 April 2009. This represents a decrease of 30.9 per cent against the same period last year, including a favourable exchange movement year-on-year, the carrier said. Volumes of 2,240 million cargo tonne kilometres (CTKs) for the half year represent a decrease of 8.1 per cent versus the same period last year, driven by an … [Read more...] about Revenue down 31% for BAWC in 1H