air freighter

1,000 more FedEx employees lose jobs

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FedEx has cut 1,000 jobs worldwide in an attempt to save more than US$1 billion in costs as the global economy flattens freight volumes. The cuts are in addition to earlier layoffs of 900 people from FedEx Freight in February. FedEx employs approximately 290,000 people worldwide. In March, FedEx reported that third quarter profits fell 75 per cent to US$97 million. The company announced plans for job cuts and to reduce capacity and cut salaries of top executives at that time. … [Read more...] about 1,000 more FedEx employees lose jobs

New US carrier to fly NY to Russia

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While carriers the world over are slashing their networks and grounding aircraft in a bid to keep their heads above the rising tide, a bold group of investors believe that the time is ripe to launch a new airline offering flights between New York and St. Petersburg, Russia. Baltia Air Lines has recently won approval from the US Transportation Department to provide nonstop service between New York's John F. Kennedy International Airport and St. Petersburg's Pulkovo 2 Airport, with flights … [Read more...] about New US carrier to fly NY to Russia

EUROPE & CIS: It’s tiger time in Moscow

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AirBridgeCargo Airlines (ABC) has delivered two white tiger cubs on its scheduled flight from Frankfurt to join the Brothers’ Zapashny circus in Moscow. The five month old cubs arrived in Russia onboard one of ABC’s Boeing 747 freighters. The circus is one of the most popular entertainment shows in Moscow and is highly regarded for the uniqueness and professionalism of its performances. Last July, the all-cargo airline – part of Volga-Dnepr Group … [Read more...] about EUROPE & CIS: It’s tiger time in Moscow

EUROPE & CIS: New US carrier to fly NY to Russia

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While carriers the world over are slashing their networks and grounding aircraft in a bid to keep their heads above the rising tide, a bold group of investors believe that the time is ripe to launch a new airline offering flights between NewYork and St. Petersburg, Russia. Baltia Air Lines has recently won approval from the US Transportation Department to provide nonstop service between New York’s John F. Kennedy International Airport and St. Petersburg’s Pulkovo 2 … [Read more...] about EUROPE & CIS: New US carrier to fly NY to Russia

EUROPE & CIS: Russia’s booming air industry hits the skids

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After several years of rapid growth, Russian airlines are facing falling traffic and revenues and with some teetering on the edge of bankruptcy as the effects of the global economic downturn and credit crunch begin to be felt. In 2008, Russian cargo volumes grew by 5.8 per cent to 703,068 tonnes while passenger traffic increased 11 per cent year-on-year, to 50.1 million passengers. However, the final months of the year showed a definite downward trend that has accelerated in the first weeks … [Read more...] about EUROPE & CIS: Russia’s booming air industry hits the skids

EUROPE & CIS: Lufthansa Cargo sees profi ts rise 20%

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Lufthansa, Europe’s second largest airline, reported a rise in cargo earnings of more than 20 per cent in 2008 from a year earlier, but warned of declining revenue and profit in 2009 as freight volumes continue to collapse amid theongoing global recession. Lufthansa Cargo’s operating profit rose 20.6 per cent to €164 million year on year as revenue gained 6.3 per cent to €2.9 billion. The cargo division’s results come in the face of a severe … [Read more...] about EUROPE & CIS: Lufthansa Cargo sees profi ts rise 20%