Air freight carried by Asian carriers grew by a solid 12.8 percent in the first two months of the year compared to the same period in 2014, according to data from the Association of Asia Pacific Airlines (AAPA).
Qatar Airways Cargo is launching a freighter service between its Doha hub and Los Angeles International Airport, its fourth all-cargo service to the U.S.
Martinair, Air France-KLM’s all-cargo unit, announced it is laying off 330 employees, including 110 pilots, as it downsizes its freighter fleet in a bid to return to profitability.
Cathay Pacific reported a 20 percent increase in net profit for 2014 as a strong second half recovery in the cargo market helped drive up earnings to $403 million.
The government of Hong Kong has approved the building of a third runway at Hong Kong International Airport (HKIA), announcing that it would fund the $18.2 billion expansion through internal funds, external borrowings and higher user fees.
Cathay Pacific and sister carrier Dragonair carried almost 30 percent more cargo in February than during the same month last year as the Hong Kong-based airlines added capacity to cope with the lunar new year surge in demand.
The air cargo industry is in a difficult transformation period as it struggles to adapt to a changing cargo mix and rising demands from customers for better shipment visibility and a more reliable service.
Lufthansa Cargo’s operating profit surged nearly 27 percent in 2014. The German carrier remained in the black for the fifth consecutive year despite a weak global air freight market that has pushed many of its rivals into the red.
The behavior of a handful of mega shippers in China completely defines the market, and any analysis of imports and exports must take this into account, advised Seabury Group managing director Gert-Jan Jansen.