NewsWeek FedEx happy with ‘strong performance’


ACCORDING TO THE ASSOCIATION of Asia Pacific Airlines (AAPA), the region’s international air cargo demand as measured in freight tonne-km was 5.8 percent down year-on- year in August. Cargo capacity was down by 1.3 percent, leading to a 3.1 percentage point decline in the average inter- national freight load factor to 64.5 percent.


A NEW AFRICAN CARRIER has taken to the wing. ECAir (Equatorial Cargo Airlines) flew an inaugural service between Brazzaville and Pointe-Noire in the Republic of Congo on 24 September. ECAir operates B737-300 equipment three times a day, seven days a week on the domestic service.


SINGAPORE’S TIGER AIRWAYS has taken delivery of two more A320s as it approaches its December 2015 fleet target of 68 aircraft. It now boasts 20 aircraft, and this latest expansion is expected to allow the airline to fly new routes such as to Bangalore, Cebu and Davao.


THE INTERNATIONAL AIR Transport Association (IATA) has welcomed the decision of G20 finance ministers to deliver a strong and co-ordinated international response to the current economic challenges. IATA director general and CEO Tony Tyler commented: “The economic uncertainty centred on Europe is the biggest downside risk that we face. It is critical that governments find solutions to stabilise the situation and stim- ulate growth.”


BELGIUM’S LIEGE INTERNATIONAL airport handled 339,431 tonnes of freight in the first half of this year, making it the seventh-busiest air cargo gateway in Europe.


FEDEX CORP has released its figures for the three months that ended on 31 August and revealed both higher revenue and higher earnings compared to the same quarter of 2010. Revenue rose by 11 percent


year-on-year to reach a figure of US$10.5 billion, while net income of $464 million was up by 22 percent. According to chairman,


president and CEO Frederick Smith, the improved results for the company were thanks largely to the good perfor- mance of FedEx Ground, FedEx Freight and the contin- ued success of the company’s “yield management actions”. FedEx Freight made rev-


enue of $1.33 billion over the period, an increase of 6 per- cent over the same time last


MALAYSIA AIRLINES has received the first of its four A330-200 freighters as report- ed in an earlier issue of Air Cargo Week (ACW, 19 Septem- ber, p7). MASkargo has taken deliv-


ery of the first of four A330-200Fs it expects to receive before April next year.


year. Operating income was also positive – compared to a loss made last year. This was thanks in the


main to “strong yield growth and efficiencies resulting from the January 30 2011 combi- nation of the FedEx Freight and FedEx National LTL (less-than-truckload) opera- tions,” the company said. Looking forward, FedEx


Corp’s executive vice presi- dent and chief


financial


officer, Alan Graf, remarked: “The US and global economy grew at a slower rate than we anticipated during the quarter. “While FedEx Ground and achieved


FedEx Freight


improved operating results despite lower than expected growth,


the more rapid declines in demand for FedEx


Express services, particularly from Asia, outpaced our abil- ity to reduce operating costs,” he added. “We have slightly reduced


our earnings forecast to reflect current business conditions and are aggressively working to adjust our cost structure to


sidiary flew the A330F on its first commercial mission after its handover in Toulouse on 15 September, carrying 57 tons of freight to Kuala Lumpur. New destinations expected


to be served by the A330Fs are Karagandy, Taipei and Osaka,


with those services launching on 2 October, 29 October and in November respectively. Other cities to be visited by


match demand levels,” Graf noted. However, Smith was more


positive, commenting: “While the economic environment is challenging, we remain confi- dent FedEx will improve earnings, margins and cash flows this fiscal year.”


MASkargo outlines its expectation for A330 freighter equipment The Malaysia Airlines sub-


the new freighters with sched- uled services are likely to include Tokyo-Narita, Jakarta, Hong Kong, Shanghai, Ams- terdam, Sharjah and Penang. The managing director of


MASkargo, Shahari Sulaiman, called the initial A330F deliv- ery a “historic day” for the carrier, allowing it to grow its business in “an efficient and cost-effective manner”. He also noted that by the


end of this year: “MASkargo will have one of the youngest freighter fleets in the world.”


3 October 2011


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