Santiago-based LATAM Airlines Group narrowed its year-on-year net loss for 2014 to US$109.8 million from $281.1 million in 2013, drawn on this year's revenues of US$3.04 billion, which fell 1.7 per cent. Q4 net profit was US$98.3 million against a year-on-year net loss of US$46.1 million. This result includes a foreign exchange loss of US$90.3 million mostly in consequence of the devaluation of the Brazilian real during the quarter. The airline reported a strong improvement in operating … [Read more...] about LATAM cargo revenue down by 4.7%
cargo
Thai to exit freighter services, sell off 22 aircraft
Thai Airways has announced the latest step in its major restructuring plans that will see it sell off 22 of its aircraft and terminate freighter services as it struggles to overcome seven straight months of losses. The carrier - with nearly US$5.9 billion in debts - will cease operating its final two B747-400BCF services by end of the month. Thai Airways was once a leader in the cargo market, but the company has stopped and started its freight services multiple times in recent years. The … [Read more...] about Thai to exit freighter services, sell off 22 aircraft
Cathay reports 28.8% growth in Feb cargo tonnage
Cathay Pacific Airways recorded double-digit growth in cargo in February. The company’s two airlines, Cathay Pacific and Dragonair, together carried 130,467 tonnes of cargo last month, a year-on-year increase of 28.8 per cent, though less than the 147,275 tonnes carried in January. Mark Sutch, general manager of cargo sales and marketing, attributed the high year-on-year tonnage growth to “the overall improvement in the world’s air cargo markets compared to early 2014, … [Read more...] about Cathay reports 28.8% growth in Feb cargo tonnage
Record tonnage volume changed hands in 2014
The reported value of secondhand sales activity totalled US$26.1 billion, up 26 per cent y-o-y. There was interest in the larger sizes and the average size of ship sold reached a record level, London-based market research firm said. Activity at the larger end of the oil tanker sector was particularly strong and 2014 saw a firm increase in the volume of containership tonnage sold year-on-year. “A total of 1,320 vessels of 51.0m GT were reported sold market in 2014, a record in terms … [Read more...] about Record tonnage volume changed hands in 2014
Korean Air widens 4Q losses
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
Heathrow sees 3.3% cargo growth in January
Cargo at London Heathrow airport grew 3.3 per cent to 115,847 tonnes in January, compared with the same month in 2014. The January results included increases of 54.0 per cent to Mexico, 28.6 per cent to Brazil, 11.3 per cent to India and 11.2 per cent to Turkey. In the 12 months from February 2014 to January 2015, cargo was up 5.2 per cent to just over 1.5m tonnes. … [Read more...] about Heathrow sees 3.3% cargo growth in January
