airlines cargo

Cathay reduces shareholding in HAECO

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Cathay Pacific Airways has announced that it has agreed to sell 20,700,958 shares, representing 12.45 per cent of its shareholding in Hong Kong Aircraft Engineering Company (HAECO) at HK$91.83 (US$11.85) per share to parent Swire Pacific, a transaction valued at approximately HK$1,901 million. In accordance with stock exchange listing rules, the transaction is subject to the approval of Cathay Pacific’s independent shareholders. If approved, Cathay Pacific’s direct interest … [Read more...] about Cathay reduces shareholding in HAECO

MAE to take over Transmile MRO

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MAS Aerospace Engineering (MAE) has signed a Letter of Intent to purchase Transmile’s Engineering & Maintenance unit. The proposed acquisition involves the purchase of Transmile’s base maintenance and engineering capabilities, including two hangars, equipment, and employment of its skilled manpower atits Subang base. The deal will also include MAE continuing to provide heavy maintenance services to Transmile’s freighter fleet of nine Boeing 727s, three 737s … [Read more...] about MAE to take over Transmile MRO

Italy’s ‘reborn’ Cargoitalia takes to the skies

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With the ongoing severe downturn in the air cargo market punishing carriers with impunity, the obvious starting point for a discussion of the new carrier centres on timing. “We hope it’s the right time,” says Cargoitalia S.p.A.’s commercial director Roberto Gilardoni with evidentoptimism. The original plan was somewhat delayed, he says – a result of hiccups with the acquisition and issues relating to the AOC. “Originally we were supposed to … [Read more...] about Italy’s ‘reborn’ Cargoitalia takes to the skies

Boeing says 2011 cargo-led recovery in air traffic

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The Boeing Company expects global airline traffic – led by air cargo – to recover in 2011 with a return to growth in demand for aircraft in 2012, according to Boeing Commercial Airplanes VP for marketing, Randy Tinseth, speaking at Asian Aerospace in Hong Kong last month. He added that 2010 will be characterised as the year that carrier traffic declines moderated. Tinseth said that between now and 2028, the Asia-Pacific air travel market will grow from a 32 per cent … [Read more...] about Boeing says 2011 cargo-led recovery in air traffic

TNT boosts Europe-Asia capacity with own freighter

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Europe’s second largest global express company boosted capacity on its Europe-China route on 18 September with the addition of its own B747-400ER freighter, replacing capacity previously booked on other commercial carriers. The 110-tonne capacity freighter will operate three times weekly between Hong Kong and its main air hub in Liege,Belgium. TNT highlighted the fact that this service gives customers in southern China seamless connectivity with its air and road network for … [Read more...] about TNT boosts Europe-Asia capacity with own freighter

Canada’s not-so-open skies

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An unusual thing occurred in Canada a couple of weeks ago. The top politicians of Canada’s three western provinces – British Columbia, Alberta and Saskatchewan – penned an editorial in the country’s national Globe & Mail newspaper calling for ‘open skies’. The editorial was timed to coincide with a gathering of business interests, government officials and politicians at the 2009 British Columbia International Open Skies … [Read more...] about Canada’s not-so-open skies