Cathay tops out terminal, unveils livery Cathay Pacific Airways has marked the completion of the first phase of construction of its new HK$5.5 billion (US$ 706 million) Cathay Pacific Cargo Terminal at Hong Kong International Airport and unveiled its new freighter. The carrier also used the occasion to unveil its latest aircraft, a new Boeing 747-8 Freighter, complete with a unique one-off livery which includes a special name, Hong Kong Trader, in recognition of the city’s position as one … [Read more...] about Cathay tops out terminal, unveils livery
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Boeing begins assembly of first 747-8 Intercontinental
Boeing has announced it began assembly of the first 747-8 Intercontinental at its Everett, Washington factory. Late last week, mechanics took the first step in major assembly for the new airplane by loading its wing panels and spars in the assembly tools. "This milestone symbolises the dedication, focus and hard work that our team, suppliers and customers have invested in designing this wonderful airplane," said Mo Yahyavi, vice president and general manager of the 747 programme, Boeing … [Read more...] about Boeing begins assembly of first 747-8 Intercontinental
Lufthansa reports 2009 net loss of US$151 million
Lufthansa has reported a net loss of US$151 million in 2009, but said it achieved its goal of an operating profit. The loss, which followed a $732 million profit in 2008, was largely the result of sharply lower cargo volumes and a decline in higher paying premium passengers. Operating profit plunged 90 per cent to a better-than-expected $175.5 million from $1.76 billion a year ago on revenue down 10 per cent at $30.1 billion. Lufthansa is currently in negotiations with the pilots' trade union … [Read more...] about Lufthansa reports 2009 net loss of US$151 million
German government to lift night restrictions
German Chancellor Angela Merkel’s new coalition will ease rules that limit night flights to help companies including Deutsche Lufthansa AG and Fraport AG stay competitive, a senior coalition lawmaker said, according to a Bloomberg News report. Merkel’s prospective alliance of her Christian Democrats and the Free Democrats will curtail powers that Germany’s 16 states have to restrict night flights, Hans-Peter Friedrich, the deputy leader in parliament of … [Read more...] about German government to lift night restrictions
Bold steps for Europe’s big two cargo carriers
The magnitude of the global economic crisis-induced crash in the air cargo market is, by now abundantly clear to all. A 20 per cent free fall in volumes with only a five to eight per cent cut in industry capacity has seen precious yields drop by 20 per cent in the first half of 2009. The resultant impact vaporised nearly 40 per cent ofthe industry’s total revenue stream.“When you are planning networks and capacity growth in 2008/09 and suddenly you are back at 2003 levels, you … [Read more...] about Bold steps for Europe’s big two cargo carriers
AF-KLM follows Lufthansa in announcing hefty rate hikes
Following closely on the heels of Lufthansa Cargo’s recent announcement that it will raise its rates by 25 per cent, Air France-KLM Cargo has followed suit with a similar announcement of rate hikes. In a nearly identical move by AF-KLM, the Franco-Dutch carrier announced via an email to its customers that it would increase its rates by as much as 30 per cent from next month. “The results of Air France Cargo-KLM Cargo are under severe pressure given the extraordinary market … [Read more...] about AF-KLM follows Lufthansa in announcing hefty rate hikes
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