Lufthansa Cargo swung to a US$87 million operating loss in the second quarter from a $95 million profit a year ago amid a “severe†slump in revenue. Lufthansa Cargo’s revenue in the three months to 30 June fell nearly 40 per cent to $626 million from just over $1 billion a year ago as traffic slumped 16.9 per cent to 366,000 tonnes from 441,000 tonnes. The situation was better in July with only a 4.8 per cent decline for the month year on year, with the carrier … [Read more...] about EUROPE & CIS: Collapse in yields, Luft Cargo loses US$87M
economic crisis
Brazil National Airlines Association
Brazil’s air cargo transport covering both domestic and import-export segments dropped by 24.7 per cent in the first half of 2009 as the country felt eff ects of the global economic crisis, Brazil’s National Airlines Association, or Snea, said recently. The association said total air cargo for the first half of the year was 636, 000 tonnes. The association said import-export cargo suffered the most, with a decline of 31.6 per cent while domestic air cargo dropped 17 per … [Read more...] about Brazil National Airlines Association
EUROPE & CIS: Collapse in yields, Luft Cargo loses US$87M
Lufthansa Cargo swung to a US$87 million operating loss in the second quarter from a $95 million profit a year ago amid a “severe†slump in revenue. Lufthansa Cargo’s revenue in the three months to 30 June fell nearly 40 per cent to $626 million from just over $1 billion a year ago as traffic slumped 16.9 per cent to 366,000 tonnes from 441,000 tonnes. The situation was better in July with only a 4.8 per cent decline for the month year on year, with the carrier … [Read more...] about EUROPE & CIS: Collapse in yields, Luft Cargo loses US$87M
ACI reports Nov drop in global air traffic
ACI reports Nov drop in global air traffic Global freight growth dropped dramatically in November according to the latest statistics released by Airports Council International (ACI) from 165 key airports around the world. International freight plummeted by 15.6 per cent and domestic tonnage by 13.1 per cent on average. The year-to-date and the rolling 12-month year periods also registered negative growth compared to the same time period of the previous year leaving only the Middle East with … [Read more...] about ACI reports Nov drop in global air traffic
HK sees plummeting volumes
Hong Kong's December air cargo throughput plunged 29.7 per cent from a year earlier, on the back of weak global demand for Asian goods as a result of the deteriorating economic conditions in Western countries where many retailers were offering huge discounts to sell goods over the Christmas period. The decline in trade accelerated from a 19 per cent year-on-year drop in November, according to the latest data from Hong Kong Air Cargo Terminals Ltd (Hactl). "The global economic performance remains … [Read more...] about HK sees plummeting volumes
Boeing set to slash 4,500 jobs
Chicago-based Boeing has announced that it will eliminate 4,500 jobs from its commercial work force in 2009, with 60-day layoff notices going out next month. Most of the jobs will be cut from its Seattle-based commercial airplane division. The job cuts will not be unionized machinists - which paralysed the company with a strike late last year - but rather administrative positions and what the company described as employees in "overhead functions." "This is a difficult and painful decision," … [Read more...] about Boeing set to slash 4,500 jobs
