Airline profits to rise amid recovery of cargo sector

IATA says airlines are on course for net profits of US$10.6 billion this year, up from December's forecast of US$8.4 billion. Photo: Bloomberg

The International Air Transport Association (IATA), which represents 240 airlines comprising 84 per cent of global air traffic, said airlines are on course to post total net profits of US$10.6 billion this year, up from December's forecast of US$8.4 billion. Total revenues are projected to climb by US$12 billion to US$671 billion this year.

Thursday, 21 March, 2013, 5:30am

Cathay Pacific still hopefull after profits slump 83pc

Christopher Pratt says the outlook for passenger traffic is stable although air fares remain under the expected level. Photo: Jonathan Wong

Cathay Pacific Airways expects better passenger numbers after a dismal 2012, when falling  fares and weak cargo demand slashed profit by 83 per cent to HK$916 million.

14 Mar 2013 - 8:06am 1 comment

Rebound in Asian cargo buoys US shippers

The increase in cargo shipments from Hong Kong airport is expected to improve earnings at US shippers. Photo: SCMP

A pickup in air cargo shipments from Asia may benefit shares of Expeditors International and FedEx as global economic growth improves.

19 Jan 2013 - 5:12am

Airfreight operators hit by economic slowdown

Cargolux is reviewing its business options. Photo: SCMP

Dedicated airfreight operators are struggling to remain viable as a sluggish economy undermines their ability to compete with the cargo space on offer from carriers focused on the more buoyant passenger market.

15 Dec 2012 - 3:12am

Asian engine to drive sales boom for Dachser

Dachser Far East managing director Edoardo Podesta

China's burgeoning car and consumer electronics markets coupled with trade growth in Asia would help fuel a boom in sales revenues for logistics company Dachser, the firm's regional head in Hong Kong said yesterday.

5 Dec 2012 - 3:12am

Hong Kong hub role at risk amid tighter US checks on cargo

It will take a longer time to clear air cargo now. Photo: Reuters

Exporters face tougher security controls on airfreight to the United States next week, which, together with similar measures taken by Europe next year, threaten Hong Kong's position as the world's busiest air cargo hub.

The new rules require 100 per cent X-ray screening of all freight and the submission of detailed information about exporters before the cargo is loaded.

1 Dec 2012 - 3:07am