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- Edition: 1440
Headlines
Contents Both sides point fingers on US sequester
The Obama administration and lawmakers pointed fingers and warned of the consequences to the economy if automatic spending cuts kick in on Friday as planned, reported Dow Jones Newswires.
Turkey's TAV more than doubles profit in 2012
TAV Holding, a Turkish airport operator and builder, posted a 133 percent jump in its 2012 net profit to US$159 million), reported Reuters. The company's sales rose 26 percent to $1.43 billion in 2012 from $1.13 billion a year ago.
Three UK airports up for sale
Belfast, Luton and Cardiff airports have been put up for sale after the Spanish infrastructure group that owns or operates them ordered a review of its US$1.32 billion transport division, reported the Sunday Times.
Two conglomerates to bid for Cebu terminal project
Philippine conglomerates Metro Pacific Investments Corp and JG Summit Holdings have signed a joint venture agreement to bid for a project at Mactan Cebu International Airport, reported Dow Jones Newswires.
Air France-KLM deeper in the red
Air France-KLM said 2013 would be a crucial year for the airline as it struggles to return to profitability, and acknowledged that it could encounter turbulence due to volatile fuel prices and exchange rates.
Concern over tighter security at Indonesia airports
Four of the busiest airports in Indonesia will get tightened cargo security this year to enhance screening of dangerous items, a move that has raised concern from businesspeople who say the extra measure will make the current "slow" service even less
Cost-cutting drive
slashes NOL losses
While Neptune Orient Lines (NOL) was unable to repeat profits seen in the third quarter, its aggressive US$500 million cost reduction drive shrank its losses in the fourth quarter to $98 million in 2012 from $320 million a year ago.
London Gateway construction cuts lorry miles
London Gateway received 90,000 tonnes of aggregate for the construction of the port's gate complex in a single direct delivery by the bulk cargo ship, Yeoman Bridge, saving 9,000 lorry journeys on the national road network.
Damco posts 7% rise in gross profit
Damco, a freight forwarding and logistics service provider reported a seven percent rise in gross profit to US$807 million in 2012.
| | Qantas Airways director resigns
A Qantas Airways director has resigned from the Australian airline's board due to her involvement in court proceedings in Italy, reported Dow Jones Newswires.
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