The Indian government is set to consider a proposal to allow foreign airlines pick up to 49 per cent equity in Indian carriers. The government now allows 49 per cent foreign direct investment (FDI) in domestic carriers but bars foreign airlines from holding any stake directly or indirectly. … [Read more...] about India to consider upping limit on foreign airline stake
asia cargo news
HK’s AAT volumes down only 3% in Oct
Asia Airfreight Terminal Co Ltd (AAT) has announced it handled 51,380 tonnes of cargo in October, down 3 per cent year-on-year. Export cargo registered 36,093 tonnes, a decline of 3 per cent against same period last year. Import cargo volume for October was 14,930 tonnes, recording a decrease of 4 per cent from last year. Trans-shipment cargo volume was 357 tonnes, down 2 per cent. The cumulative tonnage throughput from January to October 2009 was 403,106 tonnes, representing a year-on-year … [Read more...] about HK’s AAT volumes down only 3% in Oct
Revenue down 31% for BAWC in 1H
British Airways World Cargo (BAWC) has reported commercial revenue (flown revenue plus fuel surcharges) of £250.6 million for the first half of the financial year beginning 1 April 2009. This represents a decrease of 30.9 per cent against the same period last year, including a favourable exchange movement year-on-year, the carrier said. Volumes of 2,240 million cargo tonne kilometres (CTKs) for the half year represent a decrease of 8.1 per cent versus the same period last year, driven by an … [Read more...] about Revenue down 31% for BAWC in 1H
Airbus’ A330-200 Freighter makes maiden flight
Airbus’ new A330-200 Freighter took to the skies Thursday during a four hour maiden flight over Toulouse. This milestone marks the start of a 180 hour flight-test and certification campaign, and paves the way for first delivery of the type to launch operator, Etihad Crystal Cargo, in the summer of 2010, Airbus said. India’s Flyington Freighters start-upwas to originally have been the launch customer but exchanged slots due to the global recession. The aircraft has already … [Read more...] about Airbus’ A330-200 Freighter makes maiden flight
Panalpina third quarter slides 40%
Basel-based freight forwarder, Panalpina said net profit for the three months was US$3.7 million, a 40 per cent slide in year-on-year revenue. Earnings before interest and tax fell to US$10.7 million in the three months to 30 September from $57.2 million a year ago and net forwarding revenue declined to $1.4 billion from $2.36 billion a year earlier. Volumes are down from last years by 25 per cent for air cargo and 18 per cent for sea freight, which the group attributed to the chronically weak … [Read more...] about Panalpina third quarter slides 40%
Aryan Cargo Express to fly early 2010
India’s newest air cargo carrier, Aryan Cargo Express Pvt. Ltd, is likely to start flying early next year, according to managing director Mukut Pathak. “The launch window is between 15 January and 1 February,†he said, adding that the period between February and March is peak season for air cargo. The airline firm will start services with two Airbus A310 freighters it has leased from a Turkish firm. As India recovers from an economic slowdown, domestic air freight has been … [Read more...] about Aryan Cargo Express to fly early 2010