Air Canada posts C$400 million loss, seeks 'immediate' pension relief Air Canada reported a first-quarter net loss of C$400 million (US$342 million), nearly 40 per cent greater than the C$288 million loss a year earlier. Air Canada’s new president and CEO Calin Rovinescu said the carrier is urgently seeking relief from its pension funding obligations. Rovinescu told shareholders at the company's AGM in Montreal, that the carrier has a "pressing need to achieve an alternate pension … [Read more...] about Air Canada liquidity is of prime concern: CEO
cargo aviation
Time:matters and Cebu Pacific tie-up
Time:matters and Philippines-based Cebu Pacific Cargo, have announced a new business tie-up in which the Lufthansa-owned logistics firm can now use Cebu Pacific flights departing from Manila Airport for its Special Speed Solutions and time-critical shipments. Time:matters said Manila was an important economic area and the tie-up would allow for more services to be launched in the future. “The co-operation with Cebu Pacific Cargo enables substantial time savings for time-critical shipments, … [Read more...] about Time:matters and Cebu Pacific tie-up
Possible 2011 ramp-up of A320 production
Airbus COO-customers, John Leahy said recently that the manufacturer may ramp up A320 family aircraft production to 40 per month as early as the end of 2010 or early 2011, a signal that the industry has some confidence in an impending economic recovery. Leahy said that a ‘best case’ outlook saw a 2 per cent year-on-year drop in RPKs this year, 4 per cent growth next year and a 6 per cent increase in 2011, while a ‘worst case’ scenario featured a 4 per cent … [Read more...] about Possible 2011 ramp-up of A320 production
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 the struggling 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 Eastern looks to another hand-out from Beijing
UPS expands India field stocking network
US-based global package delivery and logistics service provider UPS has announced plans to expand its field stocking location (FSL) network in India. "Despite current economic conditions, Asia continues to be a global manufacturing hub and market research indicates Asia's contract logistics market could overtake North America's in the next five years," said president of UPS Logistics & Distribution, Brad Mitchell. "UPS is expanding its post sales solutions in the Asia Pacific region to fulfill … [Read more...] about UPS expands India field stocking network
Huawei selects Panalpina as prime LSP
Swiss-based global forwarder Panalpina has been named as a prime logistics service provider (LSP) by China’s Huawei Technologies, a global telecommunications giant, for Huawei’s China-Brazil end-to-end business. Under the three-year agreement Panalpina will handle all international air freight estimated to be several thousand tonnes annually, from China to Brazil as well as the full logistics services at destination, including local distribution and warehousing. Panalpina … [Read more...] about Huawei selects Panalpina as prime LSP
