A steady rebound in shares of Malaysia’s Transmile Group Bhd was interrupted by a research report that questioned the number of planes it has, a claim the air transport firm said was inaccurate, the Business Times reported. The stock, which last month fell to its lowest in two years on news of accounting irregularities recently, was down by as much as 13 percent at the end of May. Dealers said the fall was sparked by a report from Macquarie Research, which said the actual number … [Read more...] about MALAYSIA: Transmile shares stumble on report
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MALAYSIA:MASkargo eyes higher earnings
Malaysia Airlines Cargo (MASkargo) forecasts a pre-tax profit of M$200 million (US$58.4 million) for the year ending December 31, 2007, versus the M$179 million it earned last year, according to a report in The Star. Malaysia Airlines (MAS) managing director and chief executive Idris Jala said that MASkargo, which had contributed more than five percent to MAS’ revenue last year, would target a pre-tax profit of M$200 million this year. MASkargo chairman N Sadasivan said cargo … [Read more...] about MALAYSIA:MASkargo eyes higher earnings
CHINA: New pact pressures Chinese carriers
Chinese carriers are feeling the pressure following last month’s signing of a new air services agreement between China and the US. “We don’t want Beijing to open the air transport market too fast. The pact covering an increase of air services signed in 2004 has already exerted great pressure on us,” China Eastern Airlines President Li Fenghua told China Business News in the weeks before the pact was concluded. He also noted that “it takes time to integrate … [Read more...] about CHINA: New pact pressures Chinese carriers
CHINA: NWA Cargo starts Guangzhou service
NWA Cargo has expanded its allcargo freighter service to include daily frequencies to Guangzhou Baiyun International Airport, Guandong province. “These additional frequencies provide shippers with quicker and more convenient access to China’s largest market,” said Jim Friedel, president of NWA Cargo and senior vice president- Pacific. “We are working to provide our customers with faster clearances, lower terminal charges and the best schedule between Guangzhou and Japan … [Read more...] about CHINA: NWA Cargo starts Guangzhou service
CHINA: Jade Cargo adds Frankfurt, Houston
China’s all-cargo carrier Jade Cargo International has added three weekly Frankfurt frequencies to its network of European destinations. Jade Cargo’s fourth B747-400ERF was delivered at the end of May 2007 and put into service on a two-way non-stop servicebetween Shenzhen and Frankfurt. In addition Jade Cargo will enter the trans-Pacific market to the US with a twice-weekly charter service to Houston, Texas via Vancouver (Canada). Jade Cargo’s fifth aircraft, a Boeing 747- … [Read more...] about CHINA: Jade Cargo adds Frankfurt, Houston
CHINA: UPS to increase capacity to Shanghai
UPS, which is scheduled to open its new hub in Shanghai next year, will increase cargo capacity to the Chinese city by switching its planes from the MD-11s in current service to Boeing 747-400s. The new hub will be built on a one million square foot site. When it opens, it will operate around the clock, throughout the year. UPS will ramp up its service over time with sorting capacity projected to reach 17,000 pieces per hour by 2012. The hub will link all of China to the UPS … [Read more...] about CHINA: UPS to increase capacity to Shanghai