China Eastern Airlines has returned to the black in the first half of 2009 with a net profit of CNY 1.174 billion (US$171.8 million), in a large part due to state subsidies and reduction of its losses from fuel hedging. On the contrary, Shanghai Airlines posted losses of CNY91.29 million. From January to June, weak domestic aviation demand saw China Eastern and Shanghai Air losing CNY 20.976 million and CNY 545 million respectively, from their core businesses. As for the second half of … [Read more...] about CHINA: China Eastern in black, Shanghai Air sees red
economic recovery
International Air Transport Association (IATA)
The International Air Transport Association (IATA) said June marked the 13th consecutive month of contracting demand for international air cargo. Despite reaching a bottom in December, improvement has been slowed by high inventory levels and soft demand. “At the current pace, it will likely take several years before demand returns to early 2008 levels.†IATA said air freight is refl ecting the earlier economic recovery in Q2 among some emerging Asian economies while recoveries are … [Read more...] about International Air Transport Association (IATA)
Leading integrators need to reorganise networks: Datamonitor
Leading integrators DHL, TNT, FedEx and UPS need to reorganise their networks as a result of structural changes in the industry according to consulting firm Datamonitor. Despite severe cost cutting programmes, the four major integrators have all recorded a major drop in profi ts in the last quarter, largely due to significantly lower volumes as well as customers opting for cheaper alternatives, Datamonitor noted in anew report. “However, both DHL and UPS companies have gained some … [Read more...] about Leading integrators need to reorganise networks: Datamonitor
AMERICAS: Boeing’s Carson sees recovery next year
Boeing Commercial Airplanes chief executive Scott Carson believes economic recovery is in sight. “It feels like we’re bouncing off the bottom,†he said at the Paris Air Show. Citing the latest economic data that Boeing tracks, he said: “It feels to us like the middle of next year is when we will see growth return to the industry.†Speaking specifically about changes to the production rates for its freighter products, Carson said, “the next six months … [Read more...] about AMERICAS: Boeing’s Carson sees recovery next year
