Cargo traffic at Singapore's Changi airport is expected to fall by 5.1 per cent in 2009, to 1.77 million tonnes in 2009, from 1.85 million tonnes, according to a Reuters report. Singapore's Senior Minister of State, Ministry of Finance & Ministry of Transport, Lim Hwee Hua, told parliament the global financial crisis started taking a toll on Changi's traffic in the fourth quarter of 2008, but "the full impact of the global downturn can be expected to be felt in 2009". … [Read more...] about Cargo to decline 5% at Singapore's Changi
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Changi relief package includes cargo
Changi relief package includes cargo The Civil Aviation Authority of Singapore (CAAS) has announced a further S$70 million (US$46.2 million) relief package to help airlines and airport partners cope with the economic crisis. The new package is in addition to the S$130 million Air Hub Development Fund (AHDF) that CAAS had already extended to airlines and airport partners. Included in the relief package are enhancements to the AHDF to establish a Cargo Incentive Scheme. Under this scheme, CAAS¡¯ … [Read more...] about Changi relief package includes cargo
Singapore Airlines' profit nose-dives
Singapore Airlines has posted a fiscal third-quarter net profit down 43 per cent amid significant fuel-hedging losses, shrinking demand for cargo and passenger travel. Of the parent airline's four other business units - SATS Group, SIA Engineering, SilkAir and SIA Cargo - the cargo division was the only one to turn in a loss, amounting to S$46 million (US$30.4 million), compared with a profit of S$73 million for the same period a year earlier. SIA Cargo carried 14.2 per cent less freight (in … [Read more...] about Singapore Airlines' profit nose-dives
Singapore Airlines’ profit nose-dives
Singapore Airlines has posted a fiscal third-quarter net profit down 43 per cent amid significant fuel-hedging losses, shrinking demand for cargo and passenger travel. Of the parent airline's four other business units - SATS Group, SIA Engineering, SilkAir and SIA Cargo - the cargo division was the only one to turn in a loss, amounting to S$46 million (US$30.4 million), compared with a profit of S$73 million for the same period a year earlier. SIA Cargo carried 14.2 per cent less freight (in … [Read more...] about Singapore Airlines’ profit nose-dives
Fraport sells Germany's Hahn airport for €1
Fraport AG has sold Frankfurt-Hahn, one of Germany's leading all-cargo airports, for the symbolic price of €1. The company, which also owns Frankfurt-Main airport, Europe's biggest cargo hub, sold its 65 per cent stake in Hahn to the German federal state of Rhineland-Palatinate. Fraport said the deal, effective 1 January, ends all its financial obligations to Hahn, which had operated at a loss for several years. Traffic at Hahn fell 11 per cent in 2008 from the previous year to just under … [Read more...] about Fraport sells Germany's Hahn airport for €1
Air France joins SIA, MAS withdrawl from Chennai
Chennai is seeing a contraction of services as Air France has advised the Airports Authority of India (AAI) that it would be withdrawing its three-times weekly service out of Chennai from end-March, joining Singapore Airlines and Malaysian Airlines who have already cut their daily services to Chennai. … [Read more...] about Air France joins SIA, MAS withdrawl from Chennai
