Air Cargo News.

Jun 25, 2007

European Commission and US FAA unveiled a transatlantic emission-reduction initiative called AIRE (Atlantic Interoperability Initiative to Reduce Emissions), which EC VP-Transport Jacques Barrot said will "speed up the application of technologies and procedures having a direct impact on greenhouse gas emissions." AIRE will be based on "gate-to-gate" testing and experiments on such initiatives as continuous descent approaches, the EC said. Airbus, Boeing, Air France KLM, SAS Group, Delta Air Lines and FedEx are among those companies involved in the initiative. Jun 19, 2007

Airbus

Airbus said on Tuesday it was unlikely to resume its suspended A380 freighter before 2015. "We will start it up later. Probably the middle of the next decade," Airbus sales chief John Leahy told reporters. Airbus had originally planned to build an A380 freighter soon after deliveries of the passenger version, but costly delays in the program and cancellations by customers such as United Parcel Service prompted the planemaker to temporarily shelve its freighter plans. Airbus has been hit by delays to its A380 superjumbo, which caused a dramatic slump in the 2006 profits of its parent company EADS. Jun 20, 2007

Fedex

While we don't follow Federal Express, United Parcel Service is on our Buy List. UPS is the world's largest integrated air and ground package delivery service, operating in over 200 countries. Domestic parcel delivery volume is expected to increase this year. As important, international volume and pricing are improving in both Europe and Asia. Further gains are expected in Asia when the company brings a terminal in Shanghai on line which will allow the company to expand its intra-Asia business. The company recently completed major cost cutting measures in its supply chain management business which [a] will dramatically improve margins and [b] allow UPS to cross market it services. The company has grown its earnings and dividend in excess of a 15% pace since its founding; it has a 19-20% return on equity and a debt equity ratio of only 17%. Jun 21, 2007

FedEx

FedEx is the leader in express transportation in China. We also lead in revenue in Hong Kong, Taiwan, Japan and Malaysia. Jun 20, 2007

FedEx

FedEx Corp. is expected to release below-estimates quarterly results on Wednesday, according to media reports. Jun 18, 2007

Great Wall Airlines

May load factor rose 2.4 points to 73.5% accompanied by a 19.4% increase in passenger numbers. Freight rose 16.1% to 306,000 tonnes, boosted by 26.8% growth in international cargo to 84,000 tonnes. CAAC attributed the increase to Great Wall Airlines and China Eastern Airlines. The former, a joint venture between Great Wall Industry Corp. and Singapore Airlines, took delivery of a 747-400F last month while CEA added an A330F. A contribution also was made by Jade Cargo International, owned by Lufthansa Cargo and Shenzhen Airlines. Jade's cargo traffic increased to 10,000 tonnes from 247 tonnes in the year-ago month. China's registered commercial fleet numbered 1,043 aircraft at the end of May as nine aircraft were added during the month. Jun 21, 2007

Rolls-Royce, Alenia Aeronautica, Boeing

Rolls-Royce said it had won an order worth more than USD$500 million to supply engines for cargo planes for the US Army and US Air Force. The deal involves up to 180 engines for an initial 78 of the C-27J plane being produced by a team including L-3, Italy's Alenia Aeronautica and Boeing. The US military have said the Joint Cargo Aircraft program may involve up to 145 planes. Jun 20, 2007

Southern Air, Martinair, Atlas Air, Boeing

Southern Air announced that it completed the purchase of its 9th and 10th Boeing 747-200F from Martinair and Atlas Air respectively for use on its wet-lease and charter network. Acquisitions were internally financed, the Connecticut-based carrier said, with additional capacity to be added later this year. Jun 18, 2007

Transmile Group

Malaysian air cargo carrier Transmile Group, the highest-profile casualty among a spate of Malaysian firms to announce financial irregularities, said a special audit found it had incurred pre-tax losses, not profits, for its last two fiscal years. Transmile, controlled by Hong Kong-based billionaire businessman Robert Kuok, said on Monday that the audit by Moores Rowland Risk Management had found it had overstated revenues. Transmile is worth half its year-ago value, with most of that loss incurred in the last month when the irregularities surfaced. Trading in its shares, suspended for the announcement, will resume on Tuesday, the stock exchange said. Investors had been expecting more bad news from Transmile after it said in May that an interim report from the Moores Rowland audit had found its revenue for 2006 and 2005 could have been overstated by 30 percent and 36 percent. Jun 19, 2007

Velocity Exp

Velocity Exp, the nation's largest provider of time definite regional delivery solutions, announced that members of management and its key advisors, led by its Chairman & Chief Executive Officer, President & Chief Operating Officer, Executive Vice President & Chief Financial Officer and Alvarez & Marsal Business Consulting LLC, will purchase one million (1,000,000) shares of Velocity Express Treasury Common Stock at the greater of $1.10 per share or the market price on the day prior to the purchase date. The Company expects to receive the proceeds over the next several weeks and purchases will be subject to the Company and the purchasers entering into customary documentation. Jun 18, 2007

ZZ

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