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Air Cargo News.

For more global news, data, analysis and features, please go to: http://www.AirGuideOnline.com/professional.htm Sep 25, 2006

American Airlines

American Airlines yesterday signed a five-year service agreement with the US Postal Service to deliver mail that the airline said potentially is worth $500 million in revenue. It is the largest single contract ever awarded to American Cargo. AA said it re-engineered its mail processes in 2003 and now "is the preferred carrier of the Postal Service and carries more mail than any other passenger airline." Sep 21, 2006

Atlas Air

Atlas Air Worldwide Holdings, parent of Atlas Air and Polar Air Cargo, promoted General Counsel and Senior VP John Dietrich to Executive VP and COO, giving him oversight over all aspects of operations. Dietrich has been with Atlas since 1999 and previously worked as an attorney for United Airlines for 13 years. Sep 20, 2006

China Cargo Airlines

China Cargo Airlines, the China Eastern Airlines/China Ocean Shipping Group joint venture, signed a 10-year, $28 million OnPoint Solutions agreement with GE covering overhaul and maintenance services on CF6-80C2 engines that will power the carrier's two 747-400Fs. Sep 22, 2006

Emirates SkyCargo, Austrian Airlines Cargo

Emirates SkyCargo and Austrian Airlines Cargo reached a blocked-space agreement on Emirates' weekly A310 freighter service between Vienna and Dubai. EK will switch to an A340-500 from a 777-200 on its daily cargo flight to Nagoya Centrair from Oct. 29. Sep 22, 2006

FedEx

FedEx International Priority revenue, a key component of Express operations, grew 17% in the quarter, including an 11% gain in per-package revenue "primarily due to fuel surcharges, an increase in package weights, a higher rate per pound and favorable exchange rates," FedEx said. Sep 22, 2006

FedEx

FedEx President and CEO Frederick Smith said global trends are in line with FedEx's expedited delivery business model. "We remain confident in our ability to achieve solid profitable growth by taking advantage of strong international trade trends, increased demand for fast-cycle logistics and the expansion of online purchasing," he said. Sep 22, 2006

FedEx

FedEx reports fiscal first quarter jump in profit, revenues. FedEx Express, the airline unit of the global delivery giant, reported operating income of $467 million for its fiscal first quarter ended Aug. 31, widened from operating income of $285 million in the year-ago quarter, as revenues jumped 10% to $5.64 billion. Sep 22, 2006

FedEx

FedEx's new labor contract with pilots was tentatively agreed to during the fiscal first quarter, means "up-front pilot compensation costs" will have a net impact on fiscal second-quarter and full-year earnings of 20 cents per diluted share, forcing it to lower its FY07 earnings guidance to $6.30-$6.45 per diluted share from $6.45-$6.80 previously. Sep 22, 2006

FedEx

FedEx's operating margin in the quarter was 8.3%, up from 5.6% in the year-ago period. "Operating income and margin during the quarter improved due to revenue growth, revenue management and effective cost cuts," the company said. Sep 22, 2006

FedEx

Parent FedEx Corp. reported overall net income of $475 million for the period, up 40.1% over $339 million earned a year ago, on an 11% gain in revenue to $8.54 billion. Operating income was $784 million, an increase of 34.2% over $584 million in the year-ago quarter, as expenses grew 9% to $7.76 billion and operating margin rose 1.6 points to 9.2%. Sep 22, 2006

FedEx

FedEx to test Northrop anti-missile system on 11 freighters. Over the next 18 months, FedEx will equip 11 MD-10 freighters with Northrop Grumman's Guardian directed infrared countermeasures technology. The Department of Homeland Security hopes to learn whether the technology is cost-effective for commercial airlines. DHS has required that the system cost no more than $1 million per plane after 1,000 systems are installed. Sep 19, 2006

Frankfurt Airport, Lufthansa Cargo

Frankfurt Airport and Lufthansa Cargo agreed to a strategic airfreight partnership that will entail joint investments, modernizing cargo facilities and development of common strategies aimed at speeding up air cargo handling while also meeting higher security standards. Lufthansa holds a 10% stake in Frankfurt airport operator Fraport. Sep 20, 2006

SAS Cargo

SAS Cargo became the eighth airline to join Cargo Portal Services, the Unisys-operated online booking portal that gives freight forwarders free Internet access to member carriers' schedules and space availability and the ability to book and confirm shipments in real time. CPS membership includes American Airlines, Air Canada, Austrian Airlines, KLM, Northwest Airlines and United Airlines. Continental Airlines is in the process of going live. Sep 18, 2006
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Publication:Airguide Online
Date:Sep 25, 2006
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