A tough year for British flag carrier’s finances has been made worse by terrorism. British Airways World Cargo saw half year revenues fall 13.8% to Pounds 271.8m (Dollars 390m). BA World Cargo carried 387,000 tonnes in the six months ended September, down 18% compared with 471,000 tonnes in the same period of 2000.
Read MoreSwissair, the embattled Swiss flag carrier, has agreed the sale of its 49.9 per cent stake in LTU, the German charter airline, for a symbolic E1 in a move that allows it to avoid honouring a financial commitment that could have cost it up to SFr1.3bn ($785m).
Last week the state savings bank of Dusseldorf announced that it would take over Swissair’s 49.9 per cent stake in LTU in a government-orchestrated bail-out that has been heavily criticised by Lufthansa, Germany’s national airline, which competes with LTU through its stake in Condor, a rival charter airline.
Read MoreThe name Chaulnes is one to remember. This is probably the future location of Paris’ third international airport. The site lies 100 km north of Roissy and is 125 km from downtown Paris
Read MoreExel, has strengthened its position as the primary inter-mobile and grounds carrier in North America for Hasbro, Inc. The 10-year contract, valued at $10 million, positions Exel as Hasbro’s primary airfreight carrier, international carrier and customs house brokerage.
Read MoreA government-orchestrated bail-out for LTU, the German charter airline, was facing criticism on Monday as Lufthansa, the German national airline, turned to the European Commission to stop what it described as “state subsidies”.
Lufthansa competes with LTU through Condor, the charter airline of Thomas Cook, the second-largest travel group in Europe. Thomas Cook is a joint venture between Lufthansa and retailer Karstadt Quelle.
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