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IATA: Worst year for air cargo since 2009 financial crisis

06 / 02 / 2020 By Rachelle Harry Recent airfreight trends have been maintained, IATA’s latest market analysis detailing full-year results for 2019, has reported. Meanwhile, the impact of the coronavirus on the aviation sector continues to cause uncertainty for the future. Industry-wide freight tonne kms (FTK) for the year declined by 3.3% year on year, while available freight tonne kms (AFTK) increased by


Cathay Pacific cuts capacity by 30% over coronavirus outbreak

  As the first confirmed death from the coronavirus in Hong Kong is reported, and international airlines start suspending their flight to the city, Cathay Pacific announced it would reduce its flights to mainland China by 90%, cutting its overall flight capacity by about 30%. The recent epidemic of coronavirus that started in Wuhan, east of mainland China, has had a dramatic effect over flight demand. Cathay’s


Air Canada Boeing 767 returns to Madrid amid engine scare

Air Canada Flight AC837 was scheduled to depart from Madrid (Spain) for Toronto (Canada) on February 3, 2020. But during the take-off, the Boeing 767 aircraft encountered technical problems. This was the beginning of an eerie four-hour Madrid-Madrid flight for the 128 passengers and eight crew on board. A Boeing 767-300 aircraft, belonging to Air Canada, took off from Madrid-Barajas Adolfo Suárez Airport (MAD). The flight


Brexit: European Parliament overwhelmingly backs terms of UK's exit

29 January 2020 Media captionTears, hugs and Auld Lang Syne in EU Parliament Members of the European Parliament have overwhelmingly backed the terms of the UK's departure from the EU. MEPs ratified the Brexit Withdrawal Agreement by 621 votes to 49 following an emotional debate in Brussels. After the vote, MEPs marked the UK's exit by singing Auld Lang Syne. Several British MEPs said they hoped the UK


Amazon: Accelerating Decline In Shipping Costs Are Driving Future Valuation

Jan. 30, 2020 11:04 AM ET Luke McCarthy Long/short equity, medium-term horizon, tech   Summary Amazon has seen double-figure growth in its logistics sector naming transport and logistics as competition for the first time in their 2018 SEC 10-K. Amazon has built up a fleet of 50 cargo planes with 20 more expected before 2021 and with a $1.5 billion hub airport under construction. Amazon’s


Lufthansa and Air Canada the join the list of airlines suspending services to China

30 / 01 / 2020 By Damian Brett   The Lufthansa Group and Air Canada have joined British Airways in taking precautions against the Chinese coronavirus outbreak by similarly suspending flights to mainland China. All three US majors have also suspended some or all of their flights into China as the rate of infections rise and consumer demand falls. The moves come as the air cargo industry continues to


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