Tag: recession


  • Cargo drops level off at LAX

    Cargo drops level off at LAX Precipitous cargo declines at Los Angeles International Airport have leveled off after four straight months of declines of more than 20 per cent as the airport’s freight operations suffered under collapsing......

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  • Decline continues for European carriers

    Air cargo has “all but collapsed,” according to the Association of European Airlines (AEA), who said traffic volumes were down by around a fifth for the first two months of the year, the worst figures on record.......

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  • 1,000 more FedEx employees lose jobs

    FedEx has cut 1,000 jobs worldwide in an attempt to save more than US$1 billion in costs as the global economy flattens freight volumes. The cuts are in addition to earlier layoffs of 900 people from FedEx......

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  • IATA ups '09 forecast with $4.7B industry loss

    Estimated losses for the global air industry are expected to nearly double from December’s forecast for 2009 as air carriers grapple with the worst crisis in over 60 years, with the International Air Transport Association (IATA) saying......

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  • IATA ups ’09 forecast with $4.7B industry loss

    Estimated losses for the global air industry are expected to nearly double from December’s forecast for 2009 as air carriers grapple with the worst crisis in over 60 years, with the International Air Transport Association (IATA) saying......

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  • Sri Lankan Air slashes India capacity

    Sri Lankan Airlines has slashed flights to India from 100 a week to 51, as part of a cost-cutting strategy and re-aligning of services to conserve cash and maximise yields, the carrier’s CEO Manoj Gunawardena said recently.......

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  • ASEAN must aim high in market liberalisation

    ASEAN has missed the December 2008 deadline to open markets between capital cities on a multilateral basis, said the director general and CEO of the International Air Transport Association’s (IATA), Giovanni Bisignani. “Malaysia must be a strong......

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  • IATA: $2.5B loss in ’09 is optimistic

    International Air Transport Association (IATA) DG and CEO Giovanni Bisignani said the organisation’s December forecast of an industry-wide US$2.5 billion loss in 2009, based on a 5 per cent drop in cargo volumes and a 3 per......

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  • IATA: $2.5B loss in '09 is optimistic

    International Air Transport Association (IATA) DG and CEO Giovanni Bisignani said the organisation’s December forecast of an industry-wide US$2.5 billion loss in 2009, based on a 5 per cent drop in cargo volumes and a 3 per......

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  • FedEx says global recession bottomed out

    “We have probably hit the bottom,” said industry stalwart Fred Smith, chairman, president and CEO of FedEx Corporation while announcing the global express company’s latest quarterly earnings last week. FedEx’s overall group revenue for the quarter ended......

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