China Eastern Airlines hopes to offset the impact of heavy losses for 2008 by selling off its stakes in certain units and cutting orders for new planes, the Wall Street Journal reported. Liu Shaoyang, the company chairman, admitted that the chances of turning a profit this year are still slim. The airline’s target is to “substantially stem losses” in 2009 with a view to returning to profitability within three years. China Eastern will sell part of its 40 per cent stake in cargo … [Read more...] about China Eastern Airlines

Australia has joined other member countries of the Organisation for Economic Co-operation and Development (OECD) in ratifying the Montreal Convention (MC) with new rules applying from January 24, 2009. The Convention for the Unification of Certain Rules For International Carriage by Air signed in Montreal in 1999 (“Montreal Convention”) sets out a framework for determining the liability of air carriers for injury or death of a passenger, loss or damage to luggage or cargo and damage … [Read more...] about Australia & Montreal Convention

Chennai-based Paramount Airways is planning to launch a door-to-door cargo service under its own brand. “We are going to launch an all encompassing cargo division. It will be for door-to-door cargo service and will be introduced under the brand name ‘Paramount’,” Chairman of the airline M Thiagarajan told PTI. The airline currently transports about 100 tonnes per day of cargo and capacity will be expanded to about 300 tonnes a day by the end of the next year. The cargo … [Read more...] about Paramount Airways

All Nippon Airways, Japan’s second -largest airline, says its business will dip into the red for the first time in six years and it expects a group net loss of JPY9 billion for the year to March 31 instead of a previously projected profit of JPY17 billion. It had a JPY64.1 billion profit the previous year. But the group’s revenue from its international cargo operations increased 9.8 per cent during the April-December period from a year earlier to JPY59.2 billion (US$660.7 million). … [Read more...] about All Nippon Airways