Tag: recession


  • Cathay Pacific makes further capacity cuts

    Reporting a 22 per cent decline in turnover for the first quarter of 2009, year-on-year, Hong Kong-based Cathay Pacific Airways Ltd. said Thursday that it will cut capacity and ask its staff to take unpaid leave over......

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  • FedEx pulls 14 aircraft from service

    FedEx Corp is pulling capacity as the ongoing downturn hits its global express business, with the US-based carrier announcing in a notice to the Securities and Exchange Commission earlier this week that it will remove 10 Airbus......

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  • Semiconductor decline may be moderating

    Global semiconductor sales declined again in February, down 30.4 per cent year-on-year to US$14.2 billion, but there is some indication the rate of decline is moderating from the fourth quarter of last year, according to the Semiconductor......

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  • Boeing cuts 777 production by 28%

    Hit by the global economic slowdown that has savaged the global airline industry, Boeing has announced production cuts in its widebody programmes from the middle of next year. The US airframer announced that its 777 production rate......

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  • One year postponement for UAL China flights

    United Airlines has received permission from the US Transportation Department to delay the start of flights between San Francisco and Guangzhou, China until June 2010 because of the steep drop off in demand. The move follows that......

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  • MASkargo looks to transhipment discounts

    Malaysia Airlines Cargo (MASkargo) is pinning its hopes on further discounts to woo freight forwarders to increase their transhipment volumes through MASkargo’s Advanced Cargo Centre at Kuala Lumpur International Airport (KLIA). MASkargo managing director, Shahari Sulaiman, said......

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  • 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......

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  • Brussels Airlines down on fuel hedges

    Brussels Airlines has reported a €12.2 million net loss for last year, a reversal from the €23.1 million profit earned in 2007, due largely to fuel hedging losses. The carrier remained profitable on the operating level at......

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  • US freight index shows further March decline

    A key measure of industrial shipping in the US has shown a further 3.5 per cent decline from February to March after offering a glimmer of hope in February when it showed its first fractional gain in......

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  • Emirates predicts cargo recovery starting from 3Q

    Despite the precipitous declines of the past few months, Emirates SkyCargo is predicting a recovery in cargo volumes in the last quarter of 2009. “The dramatic fall was in November and December,” said Emirates SkyCargo senior vice......

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