The Singapore Airlines Group earned an operating profit of SG$39 million (US$31.2 million) in the first quarter of the 2014-15 financial year, $43 million (-52.4 per cent) lower than last year. After non-operating and exceptional items, Group net profit was $35 million, down $87 million (-71.3 per cent) over the same period last year. Group revenue fell $158 million (-4.1 per cent) to $3,682 million. Passenger revenue declined year-on-year on the back of weaker yields amid intense … [Read more...] about SIA Cargo revenue down despite slight yield gain
airlines cargo
UPS expects “excellent” peak season this year
Calling 2014 “the year of investing for the customer,” UPS’s CEO, Scott Davis announced plans to invest nearly US$175 million in its US network earlier in the year to develop technology to improve communications and forecasting - the ORION project - and open 50 new hub source locations in existing buildings to expand sorting capacity. Meanwhile in Europe, because of the strong quarterly shipment growth and changing volume distribution patterns, UPS had to pay a … [Read more...] about UPS expects “excellent” peak season this year
UPS expects “excellent” peak season this year
Calling 2014 “the year of investing for the customer,” UPS’s CEO, Scott Davis announced plans to invest nearly US$175 million in its US network earlier in the year to develop technology to improve communications and forecasting - the ORION project - and open 50 new hub source locations in existing buildings to expand sorting capacity. Meanwhile in Europe, because of the strong quarterly shipment growth and changing volume distribution patterns, UPS had to pay a … [Read more...] about UPS expects “excellent” peak season this year
Royal Jordanian cuts three more routes
Royal Jordanian has announced it will stop services to Delhi and Mumbai in India and Lagos, Nigeria in light of the airline’s restructuring plan, including its route network. RJ will stop operating to Mumbai on September 10, to Lagos on October 10, and to Delhi on October 31, this year. With the closure of the three destinations, the RJ routes will count 51. RJ chairman of the Board/president & CEO Nasser Lozi said that the decision is part of a synchronised plan to turn … [Read more...] about Royal Jordanian cuts three more routes
Venezuela still blocking US$4.1b owed to airlines
The International Air Transport Association (IATA) called on the Venezuelan government to honor the commitment it made in March to permit airlines to repatriate, in full and at fair exchange rates, airline funds being blocked in the country. While the government has permitted the repatriation of US$424 million shared among a number of airlines, continuing sales in the country have seen the total amount owed grow to a staggering $4.1 billion. Airlines can no longer afford the risk of not … [Read more...] about Venezuela still blocking US$4.1b owed to airlines
Asia Pac carriers see 4.7% rise in cargo demand
Preliminary traffic figures for the month of June released by the Association of Asia Pacific Airlines (AAPA) showed continued expansion of both air freight and international passenger markets. For the region's carriers, demand for air freighted goods continued to grow in the month of June, helped by positive consumer and business sentiment in major developed economies. Overall, air freight demand in freight tonne kilometre (FTK) terms grew by an encouraging 4.7 per cent … [Read more...] about Asia Pac carriers see 4.7% rise in cargo demand
