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The week in brief

By Staff Reports on April 24, 2014
  • Cargolux Airlines International announced that a general meeting of the company’s shareholders has resolved to increase the share capital of the airline by US$175 million (126.4 million euros) in cash in exchange for newly issued common shares. In addition, Cargolux announced the closing of the 35 percent share sale transaction between the Luxembourg State and Henan Civil Aviation and Investment Co., Ltd.
  • Singapore Changi Airport processed 169,800 tonnes of airfreight shipments in March, a slight decline of 1.3 percent year over year. Cargo shipments were stable at 446,900 tonnes for the first three months of 2014.
  • The Boeing Company signed a three-year lease at the City of Victorville’s Southern California Logistics Airport (SCLA). Boeing’s 100,000-square-foot (9,290-square-meter) lease includes office and hanger space at SCLA’s Hangar 678.
  • UPS plans to hire 50,000 veterans by the end of 2018. The total doubles the company’s original five-year hiring pledge made in 2013 as part of the Obama Administration’s Joining Forces initiative. In 2013, UPS hired 13,000 veterans, an increase of more than 30 percent from the prior year.
  • Airline profit expectations remain strong and broadly in line with levels seen over the past year, according to the International Air Transport Association’s quarterly survey of airline CFOs and heads of cargo in April. Cargo volumes are expected to grow during the year ahead – which is consistent with recent improvements in world trade growth and increases in business confidence – but at a slower rate than passenger demand. At the same time, cargo yields are expected to decline slightly.
  • Boeing said it is “delighted” with Shandong Airlines’ commitment to order 50 Boeing 737s, including 16 Next-Generation 737s and 34 737 MAXs. The airline plans to expand its capacity to meet growing demand in China and Northeast Asia, one of the most dynamic markets for commercial airplanes.