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- Edition: 1506
Headlines
Contents UK orders Ryanair to cut Aer Lingus stake
Britain's competition watchdog has ordered Ryanair to cut its stake in smaller Irish rival Aer Lingus to five percent from 30 percent, saying the current arrangement had the potential to substantially reduce competition, reported Reuters.
US asks for March trial in airline merger challenge
The US Justice Department asked a federal court to set a March 3 trial date to hear arguments over whether it should stop a planned merger between US Airways and American Airlines, reported Reuters.
Russian show kicks off with Superjet deals
Russia's first civil plane since the fall of the Soviet Union bagged a clutch of deals with mainly domestic buyers on the first day of an air show near Moscow, as the country battles to revive its aircraft industry amid stiff foreign competition,
Air China capitalises on foreign travel
Air China is poised to emerge as the best performer among China's big carriers in a slow first half of the year, benefiting from a rapid expansion to foreign destinations that now account for 40 percent of its revenue, reported Reuters.
Earnings drop a setback for Singamas
The recovery that Singamas Container had projected for the second half of this year may not come until 2015 as slow trade and falling profits of shipping lines hurt demand and pushed the group's net profit down 28 per cent to US$27.
Cosco Pacific profit
triples in first half
Cosco Pacific, the largest port operator on the mainland, said it was on track to increase throughput 10 percent this year and acquire other firms, after its first-half net profit more than tripled.
Argentine airport workers to strike over hangar issue
Latam Airlines Group received wide support from Argentina's airport personnel and cabin crews who have called for a nationwide strike on Thursday to protest the government evicting the company's LAN Argentina unit from a hangar at the central Buenos
ANA to buy 49% of Myanmar carrier
Japan's ANA will take a 49 percent stake in Myanmar carrier Asian Wings Airways as part of a strategy to expand overseas by investing in airline related businesses, an industry source familiar with the agreement said, reported Reuters.
Turkish Airlines Q2 profit falls 29%
Turkish Airlines posted a net profit of US$72 million in the second quarter, down 29 percent from a year earlier. The Turkish flag carrier's results also showed second-quarter sales jumped 20 percent from a year earlier to $2.3 billion.
| | Slow travel demand hits
China Southern results
China Southern Airlines kicked off the reporting season for Chinese airlines with worse-than-expected first-half results, a sign of turbulence for the country's carriers as the slowing economy curtails travel demand.
Cambodia's new terminal may not deliver
Shallow draft, lack of rail connectivity, uneasy relations with Vietnam, and the general slowdown may leave LM 17, Cambodia's new US$28 million container terminal near Phnom Penh, is up the strait, reported The Hindu.
India's Shipping Corpn to hike freight rates
Shipping Corporation of India will increase the container freight rates on the India-Europe sector by US$300 for 20-feet containers from September 1, reported The Hindu.
Malaysia's Kuantan expansion to boost trade
Malaysian bilateral trade and investment with China will soon be given a shot in the arm with the expansion of Kuantan Port and as it adopts the Eastern Gateway name, reported Business Times.
TNT mulls sale of Dutch fashion unit
TNT Express has decided to explore sale opportunities for the Dutch operations of its specialist fashion supply chain business TNT Fashion.
Damco names regional CEO for Latin America
Damco has appointed Samuel Israel as regional CEO for the Latin America region.
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