China's air cargo traffic volume declined 28 per cent year-on-year in February due to the deepening global economic crisis, Li Jiaxiang, director of the Civil Aviation Administration of China (CAAC), said according to a Chinadaily.com report. … [Read more...] about China's cargo traffic down 28% in Feb
recession
Cargo exec says industry kidding itself
Air cargo management must "strip the veils of illusion from their eyes" in combating the worst recession since the industry began 60 years ago, according to industry stalwart Julian Keeling. Keeling said these illusions included the near obsession with China as the primary engine of growth. They also included offering complicated, expensive supply chain "solutions" to the shipper rather than concentrating on fast, reliable transportation of cargo. "Let's stop adding layers of outside management … [Read more...] about Cargo exec says industry kidding itself
K+N considers global job cuts
Kuehne + Nagel Group (K+N) is reportedly considering 4,500 job cuts following the announcement of modest increases in earnings and revenue for 2008 and expressions of concerns over immediate future business prospects. In its annual results statement released this week, the Switzerland-based global forwarding and logistics provider commented that "for the time being there are no indications that world economy will recover quickly; therefore further volume reductions are expected in all business … [Read more...] about K+N considers global job cuts
Hong Kong cargo drops 29% in Jan
Air cargo through Hong Kong's airport dropped 28.9 per cent year-on-year in January to 210,000 tonnes, according to recent figures released by the airport authority. Almost all major markets experienced a double-digit decline during the month. While imports from Japan, Europe and Southeast Asia dropped most significantly, exports to Europe, North America and Taiwan showed the biggest dip. Transshipments to and from Taiwan, the Mainland and Southeast Asia were also hit. From February 2008 to … [Read more...] about Hong Kong cargo drops 29% in Jan
Alaska Air cargo defies downturn
Alaska Airlines posted fourth-quarter profits aided by the success of their cargo fleet and an increase in mail. For the first time ever, Alaska Airlines cargo surpassed US$100 million in revenue from airfreight and mail as the group posted a fourth-quarter net profit for 2008 of US$16.4 million, compared to a net loss of US$17.9 million in the fourth quarter of 2007. … [Read more...] about Alaska Air cargo defies downturn
Philippine Air sinks further into red
Philippine Airlines, a subsidiary of PAL Holdings Inc, incurred a net loss of US$113.8 million for the fiscal first half ended Sept 30 and widened that loss in the third quarter ending 31 December with a massive US$215.9 million loss. The third quarter loss was partially attributed to a US$42.4 million loss from fuel hedging contracts, the carrier said. … [Read more...] about Philippine Air sinks further into red
