Basel-based freight forwarder, Panalpina said net profit for the three months was US$3.7 million, a 40 per cent slide in year-on-year revenue. Earnings before interest and tax fell to US$10.7 million in the three months to 30 September from $57.2 million a year ago and net forwarding revenue declined to $1.4 billion from $2.36 billion a year earlier. Volumes are down from last years by 25 per cent for air cargo and 18 per cent for sea freight, which the group attributed to the chronically weak … [Read more...] about Panalpina third quarter slides 40%
Air Freight Logistics
Aryan Cargo Express to fly early 2010
India’s newest air cargo carrier, Aryan Cargo Express Pvt. Ltd, is likely to start flying early next year, according to managing director Mukut Pathak. “The launch window is between 15 January and 1 February,†he said, adding that the period between February and March is peak season for air cargo. The airline firm will start services with two Airbus A310 freighters it has leased from a Turkish firm. As India recovers from an economic slowdown, domestic air freight has been … [Read more...] about Aryan Cargo Express to fly early 2010
Air NZ places order for 14 A320s
Air New Zealand said Tuesday that it will consolidate its short-range fleet around Airbus aircraft saying it will buy 14 new Airbus A320 aircraft to replace its current domestic fleet of 15 Boeing 737-300 aircraft. Air New Zealand's general manager for short haul operations, Bruce Parton, told Dow Jones the decision was motivated by technical factors, such as the width and cargo system of Airbus aircraft, as well as price. The first A320 will arrive in January 2011, Air New Zealand said, with … [Read more...] about Air NZ places order for 14 A320s
Bad in the commercial aviation industry
We know times are bad in the commercial aviation industry, but this seems to indicate that thesituation for air cargo is actually much worse then originally feared. The pervasive fear that airfreight was being siphoned off to other, cheaper modes of transport demonstrate that air cargoexecutives’ fears are actually worse than first imagined. … [Read more...] about Bad in the commercial aviation industry
AMERICAS: Boeing announces second 787 assembly line
Boeing has announced that it has chosen its North Charleston, South Carolina facility as the location for a second final assembly site for the 787 Dreamliner program. Boeing said it evaluated criteria that were designed to find the final assembly location within the company that would best support the 787 business plan as the program increases production rates. In addition to serving as a location for final assembly of 787 Dreamliners, the facility also will have the capability to support the … [Read more...] about AMERICAS: Boeing announces second 787 assembly line
AMERICAS: No China cancellations for Boeing aircraft
Boeing customers in China haven’t canceled any plane orders this year, according to John Bruns, vice president of Boeing Commercial Airplanes China Operations, Dow Jones reported. “We’ve seen no cancellation in China...and there’s very minor adjustment in deliveries this year, mainly because the domestic market is still growing at a very fast pace, and we’re quite optimistic about growth,†said Bruns. Boeing has booked just 70 net … [Read more...] about AMERICAS: No China cancellations for Boeing aircraft