global recession

SIA Cargo weathers the storm

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Hit by the global recession and the drastic drop in transport demand, Singapore Airlines Ltd (SIA) had earlier in the year decommissioned 17 aircraft in the financial year starting in April, as the carrier prepared to face a “very difficult” 2009. The airline also slashed routes, merged flights, cut fuel surcharges three times since September and reorganised its network in a bid to balance supply and demand requirements. According to a SIA Cargo spokesperson, the … [Read more...] about SIA Cargo weathers the storm

Cathay Pacific Cargo meets challenges head-on

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Responding to the rapidly changing market situation, Cathay Pacific’s strategy took into account variables such as fuel prices, fleet deployment and fluctuations in world trade patterns, all of which had shown a marked change globally over the past 12 months. The carrier’s response included capacity cuts, special leave schemes for staff , adjustment of frequencies, focusing on new markets and also included delaying a planned cargo terminal to cut costsamid the global … [Read more...] about Cathay Pacific Cargo meets challenges head-on

Thai aircargo plummets 50% in Jan

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Air cargo volumes in Thailand slumped by almost 50 per cent in January as the global financial crisis continued to hurt exports. Total outbound cargo in the final three months of 2008 fell to 107,249 tonnes, compared with 140,074 tonnes a year earlier, Dow Jones reported. "The January figures were worse than what we expected with outbound volume falling by almost 50 per cent from a year earlier," said Kasem Jaliyawatwong, president of the Thai Airfreight Forwarders Association. Thailand's air … [Read more...] about Thai aircargo plummets 50% in Jan

Thai Airways foresees tumbling revenue and profit

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Thai Airways International foresees revenue falling 18 per cent this year, from Bt220 billion (US$6.2 billion) to Bt180 billion, due to the economic turmoil. Board chairman Surachai Tansitpong said the airline planned to reduce annual operating costs 5-10 per cent, with an immediate 3 per cent cut which will save about Bt6 billion alone. The company waived annual commission payments and froze salary adjustments in last year¡¯s budget. THAI is expected to post a net loss of more than Bt10 … [Read more...] about Thai Airways foresees tumbling revenue and profit

Air cargo slides at San Francisco & LAX

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Plummeting volumes of imports from Asia sent cargo traffic at San Francisco International Airport plunging 36 per cent in December, giving the major trans-Pacific gateway a 14.4 per cent decline in overall freight business in 2008. International imports fell 43 per cent at San Francisco in December from the same month a year earlier, a clear sign of the faltering production from factories in China and exports from the region. Los Angeles International Airport, the largest trans-Pacific air cargo … [Read more...] about Air cargo slides at San Francisco & LAX

Air cargo slides at San Francisco & LAX

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Plummeting volumes of imports from Asia sent cargo traffic at San Francisco International Airport plunging 36 per cent in December, giving the major trans-Pacific gateway a 14.4 per cent decline in overall freight business in 2008. International imports fell 43 per cent at San Francisco in December from the same month a year earlier, a clear sign of the faltering production from factories in China and exports from the region. Los Angeles International Airport, the largest trans-Pacific air cargo … [Read more...] about Air cargo slides at San Francisco & LAX