Presenting its results for the first half of 2009, Swiss-based freight forwarder Panalpina management said the industry is involved in a "cut-throat price war", adding that it would not participate because transport prices were well below cost. Second-quarter profit slumped 68 per cent to 14.6 million Swiss francs (US$13.7 million) on legal costs tied to a corruption investigation in the US and an antitrust probe in Switzerland. Sales fell to 1.36 billion Swiss francs. Panalpina cut the … [Read more...] about Panalpina will not join price war
asia cargo news
Agility opens new Malaysian logistics hub
Agility has opened a logistics hub close to Kuala Lumpur, boosting the company's total warehousing capacity in Malaysia to over 34,000 sq. m. The new 13,000 sq. m. facility in Bukit Jelutong, Shah Alam has 12 loading docks and 14,000 pallet positions and dedicated areas for pick and pack, kitting to line operations, consolidation and deconsolidation, cross docking, RMA programs, and reverse logistics. The new facility also includes an office facility of close to 3,000 sq. m, which will become … [Read more...] about Agility opens new Malaysian logistics hub
AMERICAS: ATA reports ongoing declines in traffic
The Air Transport Association of America (ATA) has reported that cargo traffic – as measured in revenue ton miles – declined 20 per cent year-on-year in May 2009, marking the 10th consecutive month of declining cargo traffic. Notably, cargo traffic in the Pacific region fell 26 per cent. Passenger revenue fell 26 per cent in June 2009 versus the same month in 2008 – the eighth consecutive month in which passenger revenue has fallen from the prior year. The … [Read more...] about AMERICAS: ATA reports ongoing declines in traffic
AMERICAS: Fuel and merger costs drag Delta into Q2 loss
Delta Air Lines posted a US$257 million second quarter loss saying it no longer forecasts a full-year profit amid the recession-induced travel slump. Delta’s loss included $390 million in losses from fuel hedges and $58 million of costs for its merger with Northwest Airlines. Excluding those charges, Delta said it would have net profit of $191 million. “We are not planning for any meaningful recovery in the coming months and no longer expect to be profitable this … [Read more...] about AMERICAS: Fuel and merger costs drag Delta into Q2 loss
AMERICAS: United Airlines cuts international capacity
United Airlines parent UAL Corp. said it will cut international routes by seven per cent to further cut costs after posting a second-quarter loss which amounted to, excluding one-time costs, $323 million. Combined with earlier cuts, this most recent announcement will bring United’s capacity cuts to almost 11 per cent this year, up from a plan of as much as 10 per cent. The new cuts will take effect in the last four months of 2009. Revenue fell 25 per cent from a year earlier … [Read more...] about AMERICAS: United Airlines cuts international capacity
AMERICAS: Cargojet + SkyLink = Cargojet Regional
Cargojet Income Fund, a Canadian provider of time-sensitive overnight air cargo services, has entered into a partnership with SkyLink Express to combine their regional air cargo feeder aircraft networks. The new partnership will operate under the name Cargojet Regional and will be owned 55 per cent by Cargojet’s subsidiary Prince Edward Air and 45 per cent by SkyLink Express (SL Express). The new partnership will create a business with annual combined revenues of over C$26 million … [Read more...] about AMERICAS: Cargojet + SkyLink = Cargojet Regional