Airlines around the world are moving quickly to increase their jet fuel hedging as they eye five month lows in crude prices that many expect to taper off at around US$50 a barrel. "Some airlines are popping in and hedging bits and pieces daily at a Brent price of $55 and down to $50," said a trader with a bank that handles hedging for many Asian airlines according to Reuters. Indonesia's PT Garuda Indonesia has hedged 45 per cent of its 2015 jet fuel needs and is now looking to raise that … [Read more...] about Record low oil prices fuel hedging strategies
IATA
Vietjet awarded IOSA certification
Vietjet has received IATA Operational Safety Audit (IOSA) certification from the International Air Transportation Association (IATA), putting it in the top 16 per cent of the world’s airlines which have achieved that standard. Vietjet also received an Acknowledgement Certificate from Prime Minister of Vietnam Nguyen Tan Dung for its continuous contributions to the development of Vietnam’s economy and society in recent years. The carrier noted these are major accomplishments and a "hugely … [Read more...] about Vietjet awarded IOSA certification
Airline financials up, cargo volumes slip
Overall airline financial performance continues to improve strongly according to initial Q2 financial data from the International Air Transport Association (IATA). A sample of 25 airlines shows that the industry financial performance improved significantly on the year ago period at the operating and net profit level. The increase was driven by North American airlines, where consolidation and lower fuel costs have resulted in a significant boost to profitability. Airlines in Asia Pacific and … [Read more...] about Airline financials up, cargo volumes slip
Global air cargo demand stagnating: IATA
The latest data from the International Air Transport Association (IATA) shows a further slowdown in global air freight demand in June. Air freight volumes measured in freight tonne kilometers (FTK) rose just 1.2 per cent compared to a year ago. This is consistent with falling trade activity and weaker than expected global growth. Regional performance varied widely. Asia-Pacific, North American and Latin American carriers reported year-on-year declines (-0.3, -3.3, and -1.6 per cent … [Read more...] about Global air cargo demand stagnating: IATA
Thailand’s 2nd largest forwarder making e-progress
Thailand’s second largest air forwarder, Trans Air Cargo Co Ltd (TAC) is pushing ahead with electronic air cargo operations after having begun their transition to e-AWBs earlier this year and is now sending 400 to 500 AWBs per month electronically. “Continuous engagement with airlines on a local level is an important factor, as airline headquarters may be ready but that doesn’t mean their local offices are,” said Keree Chaichanavong, managing director, TAC. “Selecting the right technology … [Read more...] about Thailand’s 2nd largest forwarder making e-progress
IATA calls for new Indian aviation policy
The International Air Transport Association (IATA) has called for the development of a comprehensive policy for aviation aligned with the Indian Government’s stated intention to make it easier to do business in India. The objective is to allow India to derive maximum social and economic benefits as its aviation market grows to become the third largest in the world. That is expected to happen in 2029 when the number of travelers to, from and within India will near 280 million … [Read more...] about IATA calls for new Indian aviation policy
