Attendees of the International Air Transport Association’s (IATA) 67th Annual General Meeting in Singapore received some dismal news during the conference: The association reduced its 2011 aviation profit forecast by a staggering 54 percent. Sky-high fuel prices, political unrest in the Middle East and North Africa, and an abundance of natural disasters are to blame.
British Airways and LAN Airlines have reached settlements in a class-action lawsuit brought by Hausfeld LLP against 42 airlines that originated as a result of the U.S. Department of Justice's (DOJ) ongoing price-fixing investigations. British Airways agreed to pay more than $89 million. LAN Cargo, LAN Airlines and the company's affiliate in Brazil, Aerolinhas Brasileiras S.A., settled for a total of $66 million.
Finnair Cargo will launch new routes from Helsinki to Shanghai and expand its services from Helsinki to New York on June 15.
After months of speculation, Qatar Airways has reached an agreement with Cargolux to acquire a 35-percent stake in the Luxembourg-based carrier for an undisclosed amount.
oneworld alliance announced the election of Malaysia Airlines into its consortium of carriers at the International Air Transport Association’s (IATA) 67th Annual General Meeting in Singapore. Qantas will sponsor its entry.
Chartering an Antonov 124, Lufthansa Cargo Charter has flown two 13-tonne generators from Frankfurt Hahn Airport to Tokyo Narita.
The Fredericton International Airport (YFC) has opened up a new trade lane to deliver Europe- or Asia-bound seafood by air to Toronto, marking the first time the Canadian airport has been involved in a scheduled freight operation of any kind.
TNT Express has commenced a five-times-weekly B767 freighter service from New Delhi to Belgium. The plane will stop over in Dubai on its way back to India.
As the 2012 start date for the EU Emissions Trading Scheme gets closer, more international carriers are adding their voices to the din of criticism. The Association of Asia Pacific Airlines (AAPA) is the latest group to speak out, with its director general, Andrew Herdman, saying the EU has "over-reached" in introducing the scheme.
The Canadian Auto Workers' union (CAW) — and the 3,800 customer service, reservations and ticketing agents working for Air Canada that it represents — agreed on a tentative four-year contract with Air Canada on June 16. On the same day, Canada Post's CEO and COO shut down operations after a 12-day rotating strike by the Canadian Union of Postal Workers.