Investment and holding company PT Bhakti Investama has come to the rescue of fledgling carrier Adam Air, which is facing government scrutiny following a series of aircraft accidents, by acquiring 50 percent of the carrier’s shares. The acquisition was done through its subsidiary PT Global Transport Services. Both Adam Air and Bhakti declined to reveal the value of the acquisition. However, Adam Air’s president director Adam Aditya Suherman said the value ‘equals the price … [Read more...] about INDONESIA: Bhakti Investama acquires AdamAir
airways cargo
INDONESIA: Air cargo grows, but lack of infrastructure
The condition of Indonesia’s air cargo industry after the 1997 economic crisis has indicated improvement, with the growth rate between 13 percent-16 percent both of domestic and international freight. Former Transport Minister Hatta Radjasa said the trend is promising, even more so since the growth of Indonesia’s logistics market is above the growth rate of other Asia Pacific nations. “However, such growth is not balanced with adequate infrastructure and skilled human … [Read more...] about INDONESIA: Air cargo grows, but lack of infrastructure
JAPAN: ABX Air operates freighters for ANA
ABX Air has entered into a two-year ACMI agreement to operate two 767- 200 freighters to support All Nippon Airways’ cargo operations in Japan, China and Thailand. This agreement marks the first time that the Japanese Civil Aviation Bureau (JCAB) has approved a foreign carrier to conduct cargo aircraft operations on behalf of a Japanese airline. Revenue from this ACMI agreement is expected to be approximately $22 million on an annualised basis for the two aircraft. ABX Air … [Read more...] about JAPAN: ABX Air operates freighters for ANA
MALAYSIA: Transmile shares stumble on report
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
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
