Air France-KLM posted a narrower than expected fourth quarter loss this week after capping staff costs and cutting capacity as it awaits for elusive signs of a recovering in passenger and cargo traffic. Europe's largest airline by revenue reported a fiscal fourth quarter net loss of €505 million (US$698.3 million) and a full-year net loss of €814 million compared with a €1.4 billion full year profit a year earlier, as a result of the ongoing global economic crisis. The … [Read more...] about AF-KLM posts narrower loss than expected
asia cargo news
Yangtze River Express begins DFW service
China’s Yangtze River Express, majority owned by the Hainan Air Group (85 per cent) with Hainan Airlines Co (5 per cent) and Shanghai Airport Group (10 per cent), has launched a new four-times weekly service between Shanghai Pudong International Airport and Dallas Fort Worth (DFW) International Airport. This is the second US destination for the carrier, after Los Angeles, and the fourth international destination and this new service will route via Los Angeles and continue to DFW … [Read more...] about Yangtze River Express begins DFW service
BAA accuses competition authorities of bias
UK airports operator BAA has said it will appeal the UK Competition Commission's ruling that it must sell both London Gatwick and Stansted and either Edinburgh or Glasgow International, claiming the decision was both "affected by apparent bias" and failed to account for the current economic climate. … [Read more...] about BAA accuses competition authorities of bias
China South, AF KLM cargo JV on hold
China Southern Airlines and Air France KLM have postponed their cargo joint venture, according to China Southern chairman Si Xianmin. "Based on the original plan, our cargo JV with AF KLM should have been launched in the first quarter. But we have to reconsider this plan after taking the current market situation into account," Si said. China Southern signed a framework agreement with AF KLM in the middle of last year to launch a cargo joint venture in which the Guangzhou-based carrier would hold … [Read more...] about China South, AF KLM cargo JV on hold
Swiss WorldCargo to implement short-time work
Swiss WorldCargo, the air freight division of Swiss International Air Lines, has announced plans to implement short-time work for its personnel from 1 June 1, in response to what it said were “continuing substantial declines in airfreight volumes.†… [Read more...] about Swiss WorldCargo to implement short-time work
CryoPort and FedEx in life sciences deal
US-based companies CryoPort Systems Inc and FedEx Express have announced the signing of an agreement to provide an "innovative and breakthrough" frozen shipment solution for the life science industry. The CryoPort Express Shipper allows for products to remain frozen at temperatures below -150C for up to 10 days, unlike dry ice shipping which often requires re-icing during transit, according to a statement by the two companies. "By using CryoPort Express, customers also will eliminate greenhouse … [Read more...] about CryoPort and FedEx in life sciences deal