airlines

August 31, 2015 By Shannon Balliet

Cargojet, UPS reach services agreement

Cargojet Inc. (CJT.TO) announced that it entered into a new Air Cargo Service Agreement with United Parcel Service Canada Ltd. (UPS). The Agreement replaces the agreement originally entered into in 2003 to provide domestic overnight air cargo services throughout Canada.

“Cargojet is extremely pleased to have successfully extended our long-standing business relationship as the primary domestic air cargo service provider to UPS in Canada. Cargojet will continue to provide highly reliable and cost-effective overnight air cargo services to UPS,” said Ajay Virmani President and CEO of Cargojet.

The initial term of the agreement is for a ten-year period with two, three-year renewal options.

August 14, 2015 By Shannon Balliet

Emirates has the longest flight with Panama route

Emirates is set to wrest the title of world’s longest airline route from Australia’s Qantas Airways Ltd. with a service between its Dubai hub and Panama City.

The flight will traverse 13,821 kilometers (8,590 miles), according to the Great Circle Mapper website, outstripping Qantas’s Sydney-Dallas route by 17km. Emirates will use a Boeing Co. 777-200LR — the longest-range jetliner — on the service, which will take 17 hours and 35 minutes, it said Thursday.

The longest-ever non-stop sector, operated by Singapore Airlines Ltd. to Newark, New Jersey, spanned 15,344km and took about 19 hours. The daily all-business-class service was halted in 2013 along with a 14,113km Los Angeles route, with analysts suggesting the flights weren’t viable with the aging four-engine Airbus Group SE A340 jets that the Asian carrier deployed.

For Emirates, Panama will serve as a gateway for onward business and tourist travel to cities across Central America, the Caribbean and northern South America, as well as providing capacity for imported electronics, machined products and drugs, Chairman Sheikh Ahmed bin Saeed Al Maktoum said in the release.

August 10, 2015 By Shannon Balliet

Atlas Air succeeds in 2015

In a time of lagging performance in many areas of the air cargo sector, Atlas Air is one carrier that appears to be enjoying the fruits of its labor this year. The company announced adjusted net income of US$29.4 million, or $1.17 per diluted share, for the second quarter of 2015. After taking into account several one-time charges from Q2s in 2014 and 2015, Atlas’ adjusted Q2 net income rose by more than 85 percent, year over year.

The air charter and aircraft leasing operation said its free cash flow for Q2 was $68.5 million, compared to $59.2 million in Q2 2014. “Earnings in the second quarter were driven by contribution and margin strength in ACMI charter and dry leasing,” said William J. Flynn, president and CEO of Atlas Air.

Flynn also said he anticipates 55 percent of earnings to occur in the second half of the year and that he expects a relatively strong peak season. Some of the larger freight forwarders, he added, are already starting to reserve space in preparation for peak demand.

July 27, 2015 By Shannon Balliet

Pilots union, Cargolux reach agreement

A day after a 24-hour strike disrupted some cargo flights, a breakthrough was reached in what has been an ongoing battle since September 2014 between the management of Cargolux Airlines and Luxembourg’s OGBL, the center-left trade union representing pilots.

The two sides hashed out a new collective work agreement today, stating that newly hired pilots will have more available duty days. Among the other highlights of the deal, Cargolux will cap the number of aircraft to be used at subsidiary carrier Cargolux Italia – a major bone of contention – and will introduce a new profit-sharing system. The new agreement will be finalized and ready to sign by Sept. 16, a year after all the fireworks began.

Cargolux president and CEO Dirk Reich said he was happy to see the parties come to an agreement, while the OGBL’s Hubert Hollerich said the agreement would bring economic and social stability to the company and its employees.

July 22, 2015 By Shannon Balliet

Some workers at JFK, LaGuardia to strike on 7/22

More than 1,000 security officers, baggage handlers and wheelchair attendants at New York’s LaGuardia and John F. Kennedy International Airports voted unanimously to authorize a strike starting on the evening of 7/22/15. The contract workers will walk off the job at JFK’s Terminal 7, home to British Airways, United Airlines, Cathay Pacific Airways, at 10 p.m. The strike will continue through 7/23 at JFK and LaGuardia.

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