Singapore-based, Bank of Chinaowned, BOC Aviation closed 2009 with a portfolio of 142 aircraft saying it continued to deliver on its countercyclical strategy of expanding via purchase and leasebacks since the downturn in the aviation industry began in 2008. The company took delivery of 48 aircraft in 2009, of which 23 were from purchase and leaseback deals closed during the year. BOC Aviation’s total assets exceeded US$5 billion for the first time since it was established 17 years … [Read more...] about SINGAPORE: BOC rides high through downturn

Low-cost carrier Tiger Airways has begun trialling cargo services between Singapore and five cities in Southeast Asia as a way of increasing ancillary revenues. The Singapore-based carrier, which operates a fleet of Airbus A320s, began offering cargo space on its aircraft between the island-state and Bangkok, Jakarta, Kuala Lumpur, Kuching and Penang on 15 January. It could extend this to other destinations if the trials are successful, Tiger added, which led the carrier to extend the service to … [Read more...] about SINGAPORE: Tiger Airways begins cargo trials

The Singapore Airlines (SIA) Group returned to profit in the three months to the end of December following losses in the two preceding quarters. The group posted a 19.7 per cent rise in quarterly profit to S$403.7 million (US$286.4 million) in its third quarter compared to a net profit of $337.2 million a year ago on a recovery in cargo volumes and improving passenger demand. Group revenue at $3.42 billion was up nearly 11 per cent over the second quarter. The net profit was a turnaround from … [Read more...] about SINGAPORE: SIA rebounds from consecutive losses

Singapore Airlines Cargo has extended its cargo handling agreement with Worldwide Flight Services (WFS) in the UK and Ireland with a new contract covering Dublin, Shannon and Cork. This is in addition to the airline’s decision to renew its existing handling contract with WFS at Manchester Airport for a furtherthree years. In Manchester, WFS provides cargo reception and handling services for cargo carried on the carrier’s three-times weekly B777 flights to Singapore. … [Read more...] about SINGAPORE: SIA extends handling agreement with WFS

The first public presentation of Airbus’ new A330-200F Freighter, which is currently undergoing its certification programme. The new freighter can carry more than 69 tonnes of cargo on non-stop flights of 3,200 nautical miles (5,926 kilometres) and will enter service later this year. Airbus says it expects freighter fleets to grow five-fold by 2030 as the region dominates the market. By 2030, airlines in the Asia-Pacific will buy 8,000 aircraft worth US$1.2 trillion as the region … [Read more...] about SINGAPORE: Asia-Pac to continue domination of cargo market