The year long decline in global air cargo slowed in July but revenue and freight rates remain under intense pressure, the International Air Transport Association (IATA) said. Cargo volumes fell 11.3 per cent last month from July 2008, compared with a 16.5 per cent year-on-year decline in June and a 19.3 per cent average for the first seven months of the year, it said. Despite this improvement the July load factor, or capacity utilisation, fell to 47.6 per cent from 49 percent in July 2008. "The … [Read more...] about IATA: Cargo drop slowed but yield still down
recession
Dubai Airport sees only slight cargo drop
While much of the world is still realing from the sharp decline in cargo volumes, Dubai International Airport has recorded only a small decline in cargo throughput of 0.76 per cent for the first six months of this year compared with the same period last year. And, it is likely to end the year on the same levels as last year, a senior executive of Dubai Airports said. In the first half of 2009, the airport moved 874,828 tonnes of cargo compared to 2008 when it handled 1.83 million tonnes of cargo … [Read more...] about Dubai Airport sees only slight cargo drop
JAL cargo revenue plummets 56.2% in Q1
Hit by the dual impact of both the economic downturn and the outbreak of swine flu, Japan's largest carrier Japan Airlines (JAL), reported a net loss of Y99.04 billion (US$1.04 billion) in the three months ended 30 June. The dismal result was much larger than the Y3.41 billion net loss it posted in the same quarter last year. "The net loss was Y10 billion more than expected," Yoshimasa Kanayama, a JAL senior vice president, said announcing the results. JAL's cargo business took a severe hit from … [Read more...] about JAL cargo revenue plummets 56.2% in Q1
Outlook uncertain says BA
UK carrier British Airways says total traffic for the month of July was up one per cent, capacity was down 2.7 per cent from a year ago and passenger load factor was up 3.1 per cent compared to last year. The remaining northern summer holiday months are expected to help all European carriers’ loads and yields, but BA added that yields will be “under pressure from the year-on-year impact of lower fuel surcharges, exchange movements and mixâ€Â. BA’s cargo business … [Read more...] about Outlook uncertain says BA
H1 revenue falls for Agility, but net profit up 3%
Agility continues to report rising profitability for the first half of 2009, despite the ongoing global economic recession. For the first half of the 2009 fiscal year, Agility saw its revenues decline 9 per cent to KWD 821.0 million (US$2.87 billion) compared with the same period a year earlier, but net profit rose three per cent to KWD 74.9 million. … [Read more...] about H1 revenue falls for Agility, but net profit up 3%
Panalpina will not join price war
Presenting its results for the first half of 2009, Swiss-based freight forwarder Panalpina management said the industry is involved in a "cut-throat price war", adding that it would not participate because transport prices were well below cost. Second-quarter profit slumped 68 per cent to 14.6 million Swiss francs (US$13.7 million) on legal costs tied to a corruption investigation in the US and an antitrust probe in Switzerland. Sales fell to 1.36 billion Swiss francs. Panalpina cut the … [Read more...] about Panalpina will not join price war
