Volume 15, Issue 41 2


THE WE EKLY NEWS PAP ER FOR THE AIR CARGO PROF E S S IONAL Boeing


celebrates B787


milestones


Etihad Cargo continues its impressive growth


3


FEDEX CORP, the Memphis US- headquartered logistics provider, has outlined comprehensive plans target- ing annual profitability improvements of US$1.7 billion during the next three years. In a keynote speech at FedEx


Corp’s 2012 Investors and Lenders Meeting, Ferderick Smith, chairman,


president and chief executive at the in- tegrator, explained that the majority of the cost saving will be gained from its FedEx Express and FedEx Services divisions. Smith pointed out that many of


the cost reductions are already under- way – and he noted that improve- ments in its information technology systems is the main reason why FedEx will meet its cost reduct ion goal. “We are


revamping the Express cost struc- ture through a combina- tion of cost


7


The end of this dark


tunnel will come


Hurdles to be overcome in Indian market


10 FedEx positions itself for profitability


reductions, efficiency improvements and service repositioning.” “The key is striking the right bal-


ance between volume growth and yield improvements. With slow eco- nomic growth, however, the cost re- duction programmes … are also essential to achieve our financial goals. “We are confident we will deliver


the performance to ensure the near and long-term success of FedEx. And, we believe we can do this even in low- growth environments for global trade and within the major economies,” Smith stated. In other news FedEx Express has


officially opened its South Pacific Re- gional Hub in Singapore. Located in the Air Cargo Express Hub at Singa- pore Changi International airport, the US$97 million facility is the first ex- press transport hub in Singapore, and FedEx’s largest in the region.


POLAR AIR Cargo Worldwide, a subsidiary of Atlas Air Worldwide Holdings, last week announced that it took delivery of a new B747-8 freighter. The new aircraft is the first of its kind to be flown in the Polar fleet. It expected to be deployed in the Asian and transpacific markets.


New B747-8 freighter joins Polar Air Cargo fleet The new freighter will be used to


replace two older, less fuel-efficient B747-400Fs which are currently in service. “We are very pleased to have these


state of the art 747-8 freighters in our fleet, which will provide our customers with increased capacity and revenue-


The 282,000ft2 (26,199m2 ) facility


will house air, ground and clearance operations under the one roof. The new hub has two aircraft park-


ing bays that will service 34 FedEx flights a week – and this proximity, FedEx claims, allows it to move a package from the aircraft to the sort- ing belt in less than four minutes.


“Singapore is proud to be FedEx’s


chosen partner for its South Pacific Hub ... it will further strengthen Sin- gapore’s strategic air cargo hub and ability to offer more extensive connec- tivity to the region,” said Kelvin Wong, executive director, logistics at the Singapore Economic Develop- ment Board.


No sign of recovery at Lufthansa Cargo


TIMES are hard for Lufthansa Cargo; the German flag carrier saw freight volumes decline in the first nine months of 2012. It carried around 1.3 million tonnes of


freight over the January - September pe- riod, 8.9 percent less than in the same three quarters of 2011. Tonnages in the Asia Pacific market were especially de- pressed, down 12.9 percent year-on-year. Traffic, as measured in revenue tonne-


generating capability on the transpa- cific lane,” stated Tom Murphy, exec- utive vice president and chief operating officer of Polar Air Cargo Worldwide. Polar expects another new aircraft


to join its fleet in the fourth quarter of 2012.


km, fell by 8.3 percent year-on-year, to 6.5 billion. However, aware of what it noted as a “highly demanding global market”, the carrier reduced capacity by 7.9 per- cent. As a result, the cargo load factor fell only marginally year-on-year, by 0.3 percentage points to 69 percent. Lufthansa Cargo chairman and CEO


15 October 2012


Garnadt –volatile business


Karl Ulrich Garnadt said: “Knowing how volatile the business is and aware of the importance of exercising maximum flexibility, we focus on capacity management. Whenever fuel prices are high, the rule that only high load factors enable a cargo airline to fly profitably applies more than ever.”


WORLD NEWS P2, 3, 4, 5 & 6 ● PEOPLE P4 ● TRADEFINDER P11


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