Tag: recession


  • Qatar boldly continues global expansion

    While global carriers scramble to trim and reorganise their networks, Qatar Airways has announced bold expansion plans including new services to Australia and expanded operations in India and Europe. Chief executive officer Akbar Al Baker said: “Qatar......

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  • Virgin Atlantic cuts Mumbai service

    Virgin Atlantic Airways will cease operations – at least temporarily – on its Mumbai-London service from May as the economic crunch continues to take its toll on the global aviation industry. “We have decided to temporarily suspend......

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  • Chinese exports plunge 26% in February

    China’s exports declined 25.7 percent year-on-year in February, the fourth straight monthly decline, according to China’s General Administration of Customs. Total foreign trade was US$124.95 billion in February, down 24.9 per cent year-on-year. Total Chinese exports in......

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  • China’s cargo traffic down 28% in Feb

    China’s air cargo traffic volume declined 28 per cent year-on-year in February due to the deepening global economic crisis, Li Jiaxiang, director of the Civil Aviation Administration of China (CAAC), said according to a Chinadaily.com report....

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  • China's cargo traffic down 28% in Feb

    China’s air cargo traffic volume declined 28 per cent year-on-year in February due to the deepening global economic crisis, Li Jiaxiang, director of the Civil Aviation Administration of China (CAAC), said according to a Chinadaily.com report....

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  • Cargo exec says industry kidding itself

    Air cargo management must “strip the veils of illusion from their eyes” in combating the worst recession since the industry began 60 years ago, according to industry stalwart Julian Keeling. Keeling said these illusions included the near......

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  • K+N considers global job cuts

    Kuehne + Nagel Group (K+N) is reportedly considering 4,500 job cuts following the announcement of modest increases in earnings and revenue for 2008 and expressions of concerns over immediate future business prospects. In its annual results statement......

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  • Alaska Air cargo defies downturn

    Alaska Airlines posted fourth-quarter profits aided by the success of their cargo fleet and an increase in mail. For the first time ever, Alaska Airlines cargo surpassed US$100 million in revenue from airfreight and mail as the......

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  • Philippine Air sinks further into red

    Philippine Airlines, a subsidiary of PAL Holdings Inc, incurred a net loss of US$113.8 million for the fiscal first half ended Sept 30 and widened that loss in the third quarter ending 31 December with a massive......

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  • TNT reports 60% fall in 4Q profits

    Dutch mail and express company TNT reported a 60 per cent fall in profit for the fourth quarter this week citing restructuring charges and worsening business conditions, especially in its express delivery arm. Net profit at Amsterdam-based......

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