Cathay Pacific Airways reported cargo and mail tonne kilometres fell by 1.9 per cent in October, while passenger numbers were down 3.9 per cent to two million, but this was still, by far its best month of the year to date. Passenger load factors fell 6.8 percentage points to 82.3 per cent, with a 10.1 per cent capacity reduction This includes the operations of both Cathay and its subsidiary Dragonair. General manager cargo sales and marketing Titus Diu said strong demand from Hong Kong and … [Read more...] about Cathay pacific reports only 1.9% drop in cargo for Oct
recession
SIA reports second straight quarterly loss
Singapore Airlines (SIA), the world's largest airline by market value, has posted its second straight quarterly loss with a second quarter net loss of S$159 million (US$114.6 million) compared with a net profit of S$324 million a year ago. This follows from a net loss of more than S$300 million in the first quarter of this financial year. SIA Cargo posted an operating loss of US$193 million with yields averaging just $0.20 per load tonne kilometer, down almost a third over the same period in the … [Read more...] about SIA reports second straight quarterly loss
Airline exec confidence returns
Airline executives expect improved results and a rebound in cargo volumes in the coming year, a "turning point" for a sector closely linked to economic trends, a survey released on Monday showed. The International Air Transport Association (IATA) said confidence had grown markedly among major carriers in Asia, Europe and the Americas. "This does look like a turning point," IATA said of the quarterly business confidence poll. … [Read more...] about Airline exec confidence returns
Airfreight rising faster than seafreight: Toll
Expressing sentiment expressed recently by a number of players in the airfreight industry, Toll Group chief executive Paul Little has said that airfreight was leading seafreight as the global economic recovery gathers steam. Little also predicted a rebound beginning in the fourth quarter this year. "Interestingly we've probably seen more interest in airfreight than seafreight," Little said speaking on ABC's Inside Business program. "Airfreight, of course, is a direct result of people trying to … [Read more...] about Airfreight rising faster than seafreight: Toll
United posts $63 million loss for Q3
UAL Corporation, the holding company of United Airlines, reported a net loss of $63 million for the third quarter ended Sept. 30, 2009. Cargo revenue for the quarter decreased 43 per cent year-over-year as a result of lower volumes and continued pressure on yields due to the weak economy, the group said. "United's significant presence in the Pacific export markets, which have been particularly impacted by the weakness in the global economy, continues to disproportionately affect its cargo … [Read more...] about United posts $63 million loss for Q3
No green shoots for Europe’s carriers
Latest figures from the Association of European Airlines cast doubt on the idea that the industry is seeing green shoots of recovery. Overall cargo traffic for the continent’s carriers was 15.1 percent year on year in August, compared to 16.8 percent in July. Leading carriers also showed no significant improvement. Air France traffic remains 20.4 percent down (-19.5 in July), Lufthansa is 14.1 percent down (-14.9 percent in July), Cargolux 16.5 percent (-17.2 percent in July), and KLM … [Read more...] about No green shoots for Europe’s carriers
Ad – After Content