Cathay Pacific Airways, Singapore Airlines, Lufthansa and Air France-KLM have raised freight rates 10 to 15 per cent to take advantage of renewed US and European demand. The airlines have hiked rates to about US$2.71 to US$2.84 per kilogram on routes from Hong Kong to Europe and North America. A Shenzhen-based freight forwarder said Air China had raised freight rates seven per cent or $0.29 per kilogram for shipments to Europe and the US from 10 September, the South China Morning Post … [Read more...] about HONG KONG: Carriers raising rates as demand improves

Cathay Pacific Airways’ cargo volumes fell in August at the lowest rate so far this year, with a 6.3 per cent decline as Cathay cut cargo capacity 14.1 per cent, giving the Hong Kong-based carrier a healthy 72 per cent load factor, 4.3 percentage points better than August 2008. Cathay Cargo Sales and Marketing general manager Titus Diu said Cathay saw “a continued increase in demand out of our key home market, but while tonnage is undoubtedly picking up there is still a lot … [Read more...] about HONG KONG: Cathay volumes recover, only 6.3% August decline

Cathay Pacific has signed an agreement with aircraft leasing company BOC Aviation for the sale and leaseback of six of the 19 Boeing 777-300ER aircraft it has on order. CEO Tony Tyler said the move was consistent with the airline’s “cashpreservation” strategy saying Cathay had no intention of cancelling aircraft orders. “However, we are in negotiation with aircraft manufacturers to defer some of our deliveries to align our capacity with expected demand. We … [Read more...] about HONG KONG: Cathay signs leaseback deal for six B777s

Low-cost carrier AirAsia wants to increase its cargo business by targeting clients that are more price sensitive and less time sensitive, the Malaysian Business Times reported. The airline predicts it will be able to grow its cargo revenue by half in 2009 from the US$11.5 million recorded last year. While cargo revenue represents roughly 1.5 per cent of the group’s topline in 2008, the airline hopes to increase the contribution to 10 per cent by 2011. The airline, which … [Read more...] about MALAYSIA: AirAsia aims to beef up cargo revenue

Malaysia Airlines Cargo (MASkargo) has introduced a new freighter service from Senai Airport to Narita, Japan. The move is part of its strategy to explore new markets in a bid to fill its planes. “We have added this new route to meet the growing demand for cargo in the southern region. We see Johor Bahru (JB) as having vast potential growth for business,” said MASkargo’s managing director, Shahari Sulaiman. He added that the company was assisting the Iskandar … [Read more...] about MALAYSIA: MASkargo starts new Johor Bahru, Narita service

Trai Thien Air Cargo Joint Stock Co., a unit of Trai Thien Group, is expected to start providing air cargo services from March 2010, a company executive said Thursday, according to Dow Jones. The company will provide air cargo transport services on East Asian routes using a converted Boeing 737 plane initially, said James Herron, strategic planning manager of the group. Vietnam’s Prime Minister, Nguyen Tan Dung has agreed in principle to allow Trai Thien Air Cargo to provide … [Read more...] about VIETNAM: Vietnam gets first private air cargo carrier