The International Air Transport Association (IATA) released data for global airfreight markets showing a fall in air cargo demand in July compared to the same month last year. Airfreight volumes measured in freight tonne kilometers (FTK) fell 0.6 per cent, in line with weaker global economic growth. The decline was broad-based across all regions with the exception of Africa and the Middle East. The most pronounced falls were in the Americas, where international FTK volumes were down more than … [Read more...] about Airfreight demand falls again in July: IATA
IATA
Jettainer’s Popp joins board of ULD Care
Jettainer, a leading service partner for outsourced ULD management, has joined the board of the International Air Transport Association’s (IATA) ULD Care. In both expert committees, Michael Popp, director operations at Jettainer, will help working on the further development and standardisation of ULD processes. As a first activity, Jettainer joins the ULD Care conference, which will take place from 31 August to 3 September in Bangkok this year. Every day, countless pieces of cargo inside … [Read more...] about Jettainer’s Popp joins board of ULD Care
Jettainer's Popp joins board of ULD Care
Jettainer, a leading service partner for outsourced ULD management, has joined the board of the International Air Transport Association’s (IATA) ULD Care. In both expert committees, Michael Popp, director operations at Jettainer, will help working on the further development and standardisation of ULD processes. As a first activity, Jettainer joins the ULD Care conference, which will take place from 31 August to 3 September in Bangkok this year. Every day, countless pieces of cargo inside … [Read more...] about Jettainer's Popp joins board of ULD Care
Oil production surplus highest in 17 years: IEA
A global glut of oil is forecast to last through 2016 despite the strongest demand growth in five years and faltering supply, both of which have failed to clear the surplus, according to the International Energy Agency (IEA) in its latest monthly report. This has seen jet fuel prices slide more than 47 per cent compared with a year ago, according to the latest statistics from the International Air Transport Association (IATA). The global oversupply will average 1.4 million barrels a day in … [Read more...] about Oil production surplus highest in 17 years: IEA
Record low oil prices fuel hedging strategies
Airlines around the world are moving quickly to increase their jet fuel hedging as they eye five month lows in crude prices that many expect to taper off at around US$50 a barrel. "Some airlines are popping in and hedging bits and pieces daily at a Brent price of $55 and down to $50," said a trader with a bank that handles hedging for many Asian airlines according to Reuters. Indonesia's PT Garuda Indonesia has hedged 45 per cent of its 2015 jet fuel needs and is now looking to raise that … [Read more...] about Record low oil prices fuel hedging strategies
Vietjet awarded IOSA certification
Vietjet has received IATA Operational Safety Audit (IOSA) certification from the International Air Transportation Association (IATA), putting it in the top 16 per cent of the world’s airlines which have achieved that standard. Vietjet also received an Acknowledgement Certificate from Prime Minister of Vietnam Nguyen Tan Dung for its continuous contributions to the development of Vietnam’s economy and society in recent years. The carrier noted these are major accomplishments and a "hugely … [Read more...] about Vietjet awarded IOSA certification