High fuel prices and an uncertain global economy weighed heavily on the Singapore Airlines Group earnings in the 2011-12 financial year, pushing net profit down by S$756 million (US$589.6 million) or 69 per cent to S$336 million. Group revenue grew by $333 million (up two per cent) to $14.9 billion on the back of a 3.6 per cent improvement in passenger carriage, but partially offset by weaker yields. The carrier – the world’s No.2 carrier by market value – said jet fuel … [Read more...] about Singapore Airlines sees net profits nosedive 69%
Air Logistics Asia
SINGAPORE – A330 P2F conversion agreement signed
ST Aerospace, Airbus and EADS EFW have finalised the agreement to launch the A330 Passenger-to-Freighter (P2F) conversion programme. This follows the MoU announced at the Singapore Airshow in February this year setting out the project’s foundation and granting ‘Authorisation To Offer’ for the A330P2F. ST Aerospace lead the A330P2F engineering development work in collaboration with Airbus and EADS EFW, while EADS EFW will lead the industrial phase and undertake marketing … [Read more...] about SINGAPORE – A330 P2F conversion agreement signed
The ‘real’ intra-Asia trade
It seems even the most optimistic in the air cargo industry have reset their viewpoints with a reality check. The oft expressed sentiment from a few months ago that the market has bottomed and will see some pickup sometime in the fourth quarter has quietly faded, replaced by the ‘hope’ of some recovery early next year. But the bigger fear of course is of the euro-sky falling. Many point to the most recent economic contagion of 2008-2009 where Asia, with the exception of Japan … [Read more...] about The ‘real’ intra-Asia trade
CHINA – China’s SF Airlines to expand cargo fleet
While most of China’s domestic cargo airlines are experiencing operating losses due to sluggish market demand resulting from global economic uncertainty and China’s export slowdown Shun Feng (SF) Airlines, a Chinese privately run cargo operator, plans to expand its fleet. According to its chairman Li Dongqi the carrier will expand its freighter fleet from seven to more than 25 aircraft to meet growing demand for domestic express delivery services. Last year, Shun Feng’s … [Read more...] about CHINA – China’s SF Airlines to expand cargo fleet
The ‘real’ intra-Asia trade
It seems even the most optimistic in the air cargo industry have reset their viewpoints with a reality check. The oft expressed sentiment from a few months ago that the market has bottomed and will see some pickup sometime in the fourth quarter has quietly faded, replaced by the ‘hope’ of some recovery early next year. But the bigger fear of course is of the euro-sky falling. Many point to the most recent economic contagion of 2008-2009 where Asia, with the exception of Japan … [Read more...] about The ‘real’ intra-Asia trade
Toll rides through challenging conditions
Toll Group, a leading provider of integrated logistics in the Asian region, has released interim results for the six months ended 31 December 2011, with a net profit after tax of A$158 million, down four per cent compared to the corresponding period, and sales revenue of A$4.4 billion, up five per cent. Total operating profit (EBIT) was A$248 million, down two per cent. Net profit was down 3.7 per cent to 157.9 million. Brian Kruger, managing director of the Toll Group said: “These … [Read more...] about Toll rides through challenging conditions
