Sinotrans Air Transportation Development Co. plans to transfer its 51% stake in Grandstar Cargo International Airlines to China’s UniTop as Grandstar’s liquidation process begins.
LATAM Airlines Group, parent of TAM and LAN Airlines, reported 2012 fourth quarter net income of $8.5 million, down 92.6% from $114.9 million in the year-ago period.
China Eastern Airlines plans to speed up its international expansion pace this year as international market demand gradually recovers and domestic market demand slows.
Air Astana and Turkish Airlines have signed a letter of intent for a wide-ranging cooperation, including a codeshare agreement on routes between Kazakhstan and Turkey.
A slowdown in world trade growth and shifts in the freight commodity mix are frequently cited as the two main reasons for the global air cargo market decline in recent years. According to IATA, airfreight markets declined for a second straight year in 2012, falling a further 1.5% in 2012 after a 0.6% decline in 2011. The freight load factor for the year was 45.2%.
Scandinavian Airlines (SAS) has been operating since 1946, but in November it almost disappeared from the European aviation landscape. “It was very serious, I can be open about that,” SAS president and CEO Rickard Gustafson said. “I had the board gathered that weekend. If we didn’t reach an agreement, the board was prepared to wind down the company.”
Includes: Selected Airport Traffic, Top 20 Reporting Airlines, World Airline Traffic, Jet Fuel Price Monitor, Aircraft Values, US Fuel Cost and Consumption, US Consumer Complaints, US Ontime Performance, US Denied Boardings, US Flight Cancellations, US Mishandled Baggage, Aircraft Deliveries, Airline Traffic by Region, IATA Traffic Growth by Region
IATA has slightly improved its 2013 financial outlook for the world’s airlines, citing strong passenger demand and signs that cargo markets are starting to grow again.
Australia’s Foreign Investment Review Board (FIRB) has given the green light for Virgin Australia to acquire Perth-based regional carrier Skywest Airlines.
KLM Royal Dutch Airlines has introduced its new world business class interior, featuring new full-flat seats, carpeting, panel decorations, curtains, lighting, blankets, cushions and upholstery.
