China’s three major airlines all returned to profit in the third quarter thanks to stronger passenger demand and lower fuel prices. Air China saw its net profit for the July-September period reach US$125.3 million, compared to a loss of US$288.5 million in the same period of last year. China Eastern Airlines recorded a profit of US$3.4 million, following a US$341.2 million loss a year ago, while China Southern Airlines posted US$41.6 million, having lost US$121.5 million in the third … [Read more...] about CHINA: China’s big three carriers turn Q3 profits
air freighter
CHINA: New cargo JV for Air China/Cathay
Air China and Hong Kong’s Cathay Pacific Airways will jointly set up China’s biggest cargo joint venture in Shanghai in early 2010 as the two carriers aim to tap the surging cargo volumes out of Shanghai Pudong. Air China will hold 51 per cent and Cathay Pacific will hold the remainder in the joint venture which will see the two carriers contributing 10 B747-400 freighters. “The venture is expected to be launched ahead of the 2010 Shanghai World Expo but still … [Read more...] about CHINA: New cargo JV for Air China/Cathay
SINGAPORE: Macquarie AirFinance opens in Singapore
Aircraft leasing specialist, Macquarie AirFinance, has chosen Singapore as the location for its new Asia/Pacific representative office. “The new office will enable Macquarie AirFinance to further develop its presence and customer base in the region, which is expected to be the prime area for growth in commercial aviation,†the Dublin-based company said in a statement. The Singapore office will be staffed initially by Harry Forsythe, VP Marketing, Asia/Pacific. … [Read more...] about SINGAPORE: Macquarie AirFinance opens in Singapore
SINGAPORE: Singapore Airlines Cargo loses Oz appeal
Australia’s Court unanimously dismissed an appeal by Singapore Airlines which sought to challenge the validity of compulsory investigation notices issued by the Australian Competition and Consumer Commission. The notices required Singapore Airlines Cargo to produce documents and information as part of the ACCC’s ongoing investigation into alleged international air cargo cartel activity. The primary challenge to the notices was whether routes between two points … [Read more...] about SINGAPORE: Singapore Airlines Cargo loses Oz appeal
SOUTH KOREA: Asiana and Continental join forces
Asiana Airlines and Continental Airlines have agreed to form a new alliance partnership effective from 15 December of this year. The code share operations between the two airlines will cover five international routes and 13 domestic routes inside the US. Continental Airlines officially withdraw from the SkyTeam Alliance on the 25 October and joined the world’s largest airline alliance, Star Alliance. Along with Asiana’s code share partnership, Continental Airlines said … [Read more...] about SOUTH KOREA: Asiana and Continental join forces
SOUTH KOREA: S Korean gov’t under fire for Incheon sale plan
The South Korean government reportedly is under fire at home for proposing to sell Incheon International Airport, near Seoul at a price described as “too low†by critics – at an estimated 50 per cent of market value. As part of its plans to advance staterun enterprises, the Lee Myung-bak government is moving to privatise the Incheon hub by putting up for sale 49 per cent of its stake for approximately US$504 million. … [Read more...] about SOUTH KOREA: S Korean gov’t under fire for Incheon sale plan