Air France-KLM posted a narrower than expected fourth quarter loss this week after capping staff costs and cutting capacity as it awaits for elusive signs of a recovering in passenger and cargo traffic. Europe's largest airline by revenue reported a fiscal fourth quarter net loss of €505 million (US$698.3 million) and a full-year net loss of €814 million compared with a €1.4 billion full year profit a year earlier, as a result of the ongoing global economic crisis. The … [Read more...] about AF-KLM posts narrower loss than expected
Martinair
Martinair exec latest to face jail over price-fixing
A Dutch executive with Martinair will serve eight months in jail and pay a US$20,000 fine for his part in an international air cargo price-fixing conspiracy, the US Justice Department said. Franciscus Johannes de Jong, aka Frank de Jong, formerly the vice president of cargo sales in Europe, agreed to plead guilty to fixing air cargo rates as part of a global conspiracy that ran from 2002 to 2006, the Justice Department said. De Jong and his co-conspirators "engaged in a conspiracy to fix the … [Read more...] about Martinair exec latest to face jail over price-fixing
AF-KLM cargo slump continues in March
Air France-KLM, Europe's largest scheduled cargo carrier, has reported a continuing fall in cargo volumes, down 19.2 per cent in March compared to a year ago and the fourth consecutive month that its cargo traffic has fallen by around 20 per cent. The drop continued apace, despite an 8.9 per cent cut in capacity, excluding Martinair, the all-cargo and charter carrier that was consolidated in January. The cargo load factor, also excluding Martinair, fell 7.8 points to 61.4 per cent. Including … [Read more...] about AF-KLM cargo slump continues in March
Australia competition watchdog fines three more carries
In the latest development revolving around the global air cargo price fixing scandal, Australia's competition watchdog has sued three more airlines over allegations they were involved in price-fixing. Air France-KLM, Martinair and Cargolux have joined Singapore Airlines, Qantas Airways and British Airways over the same allegations made by the Australian Competition and Consumer Commission. The three have agreed to pay fines, with Cargolux saying it has agreed to fines of A$5 million (€2.6 … [Read more...] about Australia competition watchdog fines three more carries
Martinair
Netherlands-based Martinair is to expand its cargo capacity from Colombo and Ecuador, with one additional flight each week from Bogotá and Quito to Europe to meet the increasing needs ofthose countries’ flower export markets. … [Read more...] about Martinair
