Emirates, the largest Middle Eastern airline, will manage a low-cost carrier to be established by Dubai's government in a bid to tap soaring demand for travel in the Gulf region. The new budget airline, to be based in Dubai and operating to destinations up to 4.5 hours flying time, will compete with carriers including Kuwait based Jazeera Airways KSC and Air Arabia PJSC, a low cost airline in the neighboring emirate of Sharjah, to attract budget travellers from the Arab world and the … [Read more...] about Emirates

Toll Holdings takeover offer for Hong Kong-based freight forwarder BALtrans Holdings has closed, with Toll achieving 99 per cent of acceptances. Toll will compulsorily acquire the remaining shares and it is anticipated that BALtrans will become a wholly-owned subsidiary ofToll by mid-April. … [Read more...] about Toll Holdings

A European Commission executive has called for reciprocity on the US law that will require countries to scan cargo headed to the United States. "There's no reciprocity here," European Commission ambassador to the US, John Bruton said in an interview with Reuters. "Our exporters are being asked to bear costs for the benefit of the United States which the United States is not prepared to bear forothers." … [Read more...] about European Commission

Boeing delivered its 700th Boeing 777 airplane, a 777-300ER (Extended Range), to International Lease Finance Corp. (ILFC) and its customer, Cathay Pacific Airways recently. The 777 Program reached this milestone after 12 years in service -- faster than any other twin-aisle airplane program in commercial aviation history. ILFC has ordered 79 Boeing 777s since 1992 and the airplane delivered today is its 74th, which makes ILFC the world's largest 777 customer. Cathay Pacific now operates 24 … [Read more...] about AMERICAS : Boeing delivers 700th 777

At least four of the major US airlines have either announced plans to reduce capacity or warned they are considering cuts, as the industry flies straight into a storm cloud comprised of a weakening economy and rising oil prices. Both United and Delta revealed plans to remove 15-20 aircraft from their mainline fleets this year. Delta also plans to reduce employee numbers by 2,000. Meanwhile, Continental and Northwest signaled that further capacity cuts are imminent. United CEO Glenn Tilton … [Read more...] about AMERICAS : US airlines cut capacity as oil prices surge