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
Air Freight Asia
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
CHINA: Air France out of Guangzhou
Air France-KLM has, at least temporarily, suspended its cargo service to Guangzhou, China, after cargo volumes dropped below what the carriers said were sustainable levels. … [Read more...] about CHINA: Air France out of Guangzhou
CHINA: China aims to up Pearl River Delta competitiveness
The Chinese government has released its plan for the future development of that country’s most prosperous region, the Pearl River Delta. Shenzhen, Guangzhou and the other cities of Guangdong have the greatest concentration of economic activity in China and Beijing has mapped out an ambitious plan to keep the economic export engine running smoothly. The ongoing global recession has underscored concern in China over how to maintain growth in the key export sectors of its economy. … [Read more...] about CHINA: China aims to up Pearl River Delta competitiveness
