Japan Airlines Group (JAL) and Mitsui & Co., Ltd (Mitsui) have announced a new logistics business alliance. Under the partnership JAL will offer its air cargo services with Mitsui offering logistics solution services centering onsea freight. The two companies said the move represents the first of its kind cooperation between an airline and a general trading company in Japan. The two are aiming to offer a one-stop service solution to give customers an enhanced value chain with wider … [Read more...] about JAPAN: JAL and Mitsui agree to logistics cooperation
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CHINA: Air China profits and may sell-off China East stake
Air China Ltd has reported profits of CNY 981 million (US$143.7 million) in the first quarter of 2009, after incurring a loss of CNY 9.15 billion, including CNY 7.47 billion from fuel hedging losses, inthe full year 2008. After the third quarter 2008 plunge in the global air market, Air China slashed its capacity on European and US routes by more than 40 per cent, focusing instead on domestic routes. China National Aviation Holding Company (CNAHC), parent company of Air China, is also … [Read more...] about CHINA: Air China profits and may sell-off China East stake
CHINA: HNA and Global Putra join forces in Indonesia
China’s HNA Group, parent of Hainan Airlines and Indonesia’s PT Global Putra International will jointly invest in aviation, airport management, and hotel projects in Indonesia, Dow Jonesreported. As a first step, HNA Group’s Hainan Airlines will serve the Beijing-Jakarta and Shanghai-Jakarta routes, as well as the Beijing-Bali, Shanghai-Bali, Beijing- Yogyakarta and Shanghai-Yogyakarta routes. “We will form a joint venture company, which will serve … [Read more...] about CHINA: HNA and Global Putra join forces in Indonesia
CHINA: Hainan Air to get $440 million bailout
Hainan Airlines is set to get a capital injection of US$440 million from its parent company and the Hainan provincial government by selling them new shares, according to Dow Jones. Hainan Airlines’ debt-to-asset ratio will fall to around 81 per cent after the injection, an un-named source was quoted as saying. The carrier had a debt-to-asset ratio of 87 per cent at the end of March. The airline joins other Chinese carriers, including China Eastern Airlines, China Southern Airlines … [Read more...] about CHINA: Hainan Air to get $440 million bailout
CHINA: First Chinese A320 takes to the skies
Airbus first China-assembled aircraft took to the skies recently with the first flight of an A320 in the skies over Tianjin. The 180-seat aircraft, the first to be built outside of Europe, is the first of what is expected to be more than 700 jets to be assembled by the Airbus-Chinese partnership which includes the Tianjin Free Trade Zone and China Aviation Industry Corporation.Under the arrangement the aircraft are built to pre-assembly stage at Hamburg and then shipped in kit form to China for … [Read more...] about CHINA: First Chinese A320 takes to the skies
CHINA: China Eastern looks to another hand-out from Beijing
China Eastern Airlines (CEA) is expected to receive a further CNY2 billion (US$294 million) capital injection from the Chinese government to help thestruggling carrier survive. This follows an earlier CNY7 billion hand-out from Beijing at the end of 2008 but did little to relieve its debt burden of CNY83.7 billion as of 31 March which amounted to a debt ratio of 115 per cent. Industry pundits have speculated the bailout money is meant to pave the way for the long-talked about merger with … [Read more...] about CHINA: China Eastern looks to another hand-out from Beijing