Netherlands-based TNT has reported a 58 per cent fall in first-quarter net profit on the back of shrinking volumes at its express and mail units, saying the situation was expected to continue through the rest of 2009. TNT chief executive Peter Bakker said trading conditions in the first quarter "continued the trend we saw at the end of 2008 and the beginning of this year", adding that these are "to persist through the rest of the year". Net profit fell to €76 million from € 179 … [Read more...] about TNT reports 58% slide in Q1 net profit
asia cargo news
DHL/ABX extend negotiations
DHL and ABX Air Inc. have extended negotiations on a deal under which DHL would assume financial responsibility for leases of five Boeing 767-200 freighter aircraft that ABX is currently operating. ABX has been operating the aircraft on behalf of DHL under an existing agreement that expires in August 2010. The new arrangement, according to an 18 March memorandum of understanding (MOU), also would give DHL an option to lease up to four additional 767s. The March MOU provided that either party … [Read more...] about DHL/ABX extend negotiations
New Abu Dhabi services for Air India Express
Air India Express, the low-cost airline of the Indian national carrier Air India, has launched two new services from Abu Dhabi to Chennai and Tiruchirapally and has also increased the number of fights to Kochi to six per week from five per week. Air India Express initiated the Chennai and Tiruchirapally services using Boeing 737-800 aircraft twice a week. … [Read more...] about New Abu Dhabi services for Air India Express
Korean Air extends China network
Korean Air has announced it will add two non-stop services to China from Incheon International Airport in Seoul, beginning 27 May. This will bring Korean Air's services between Incheon International Airport, Seoul, and Xi’an, a western city in China to five flights per week using a Boeing 737-800 aircraft. Another new destination being added is Mudanjiang, a northeastern city in China, which the carrier will fly three times per week 2 June, also using a B737-800. The addition of … [Read more...] about Korean Air extends China network
China’s manufacturing gains strength
The China Purchasing Managers' Index (PMI), seen as a bellwether of manufacturing activity in the country, rose to 53.5 in April from 52.4 in March, according to Reuters. This is the second straight month the index has finished in excess of 50, which indicates an expansion of activity in the manufacturing sector. A reading of below 50 suggests a contraction. The PMI, compiled by the China Federation of Logistics and Purchasing, plummeted to a record low of 38.8 last November. Various sub-indexes … [Read more...] about China’s manufacturing gains strength
Dreamliner moves to flight line for testing
Boeing's 787 Dreamliner will finally take to the skies later this quarter following its move out of the hangar and onto the flight line last week. Fuel testing - the first in the next phase of extensive checks the airplane must undergo - will begin in the next few days, according to Boeing. "We are making great progress, and moving ever-closer to first flight," said Scott Fancher, vice president and general manager of the 787 Dreamliner program. In recent weeks, the 787 (designated ZA001) … [Read more...] about Dreamliner moves to flight line for testing