The Korean flag carrier posted a KRW272 billion (US$247.5 million) net loss for the fourth quarter of 2014 and a KRW458 deficit for the full year, widened from a KRW57 billion loss recorded in the year-ago period. The net loss for 2014 is reported to be the result of a stronger US dollar which inflated the value of Korean Air’s foreign debts although its operating profit rose, helped by a recovery in the global air cargo industry, falling oil prices and cost-cutting. Korean Air … [Read more...] about Korean Air widens 4Q losses
Boeing
Korean Air orders five 777 freighters
Boeing and Korean Air finalised an order for five 777 freighters. The order, valued at more than US$1.5 billion at current list prices. Korea’s flag carrier currently operates an all-Boeing freighter fleet of 26 airplanes that includes 17 747-400 freighters, five 747-8 freighters and four 777 freighters. “We truly value our enduring partnership with Korean Air and we are pleased that they have selected the 777 freighter to bolster their all-Boeing freighter fleet,” said … [Read more...] about Korean Air orders five 777 freighters
LATAM receives first 787-9 Dreamliner
Boeing and LATAM Airlines Group celebrated the delivery of the airline’s first 787-9 Dreamliner. LATAM Airlines Group is leasing the new airplane from Amsterdam-based lessor AerCap. LATAM Airlines Group will become Latin America’s first operator of both the 787-8 and 787-9 variants of the Dreamliner family when the airline group launches 787-9 services on South American routes in April. With this delivery, LATAM Airlines Group will have 11 787s in its fleet, the most in Latin … [Read more...] about LATAM receives first 787-9 Dreamliner
Boeing, Ethiopian partner on humanitarian flight
Boeing, Ethiopian Airlines and three separate non-profit organisations have delivered more than 1,814kg of medical supplies and equipment for charities and hospitals in Ethiopia and Somalia. The deliveries, carried on the ferry flight of Ethiopian’s newest B787 Dreamliner, were made to a number of medical institutions via Vital Voices Global Partnership, Horn of Africa Neonatal Development Services (HANDS) and Seattle Alliance Outreach (SAO). "Ethiopian Airlines continues to be a … [Read more...] about Boeing, Ethiopian partner on humanitarian flight
Boeing reports record 4Q2014 revenue
Boeing reported record fourth-quarter revenue of US$24.5 billion on higher deliveries and core earnings per share (non-GAAP) that increased 23 per cent to US$2.31, reflecting strong performance across the company. Fourth-quarter 2014 core operating earnings (non-GAAP) increased to US$2.3 billion and GAAP earnings from operations increased to US$2 billion. Fourth-quarter 2013 results included a US$406 million non-cash charge related to the A-12 settlement. "Strong operating … [Read more...] about Boeing reports record 4Q2014 revenue
Cargolux operates 747-8F flights to Manaus
Cargolux introduces its advanced Boeing 747-8 freighter on its regular cargo services to Manaus and becomes the first airline worldwide to operate the aircraft to the Brazilian airport. Cargolux offers fast air cargo services to Manaus since 2012 and operated its first 747-8F flight to Brazil in June 2013 after the Luxembourg carrier’s quest for clearance and approval of Brazilian airports for 747-8 operations was given the green light by the Brazilian authorities. “Our new … [Read more...] about Cargolux operates 747-8F flights to Manaus