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            november 21, 2019

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CIBE 2019

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Malaysia Airlines retains freight unit MASkargo


MASkargo, freight arm of Malaysia Airlines (MAS), will remain with parent company Malaysia Airlines (MAS) for the time being, said its chief executive officer Mohd Yunus Idris on the recent management decision, although its long-term future remains uncertain, according to the Shipping Gazette. 
The freight unit began fleet expansion in early 2012 by acquiring Airbus A330-200 freighters to its existing fleet of two Boeing 747-400 freighters. MASkargo said that the impact of Airbus' passenger-to-freighter conversion programme has devalued the aircraft, something the manufacturer denies.
MASkargo's profit has been largely unaffected by US economic woes but Europe's problems has impacted its Jakarta-Europe lane which has seen contraction of 30 per cent "which is a lot", said Mr Idris.
Its average yields have dropped to seven and eight per cent not seen since 2011 and adding to issues of steeper fuel prices and the fall-out of strained relations between China and Japan over islands in the East China Sea.
Its intra-Asia demand remains stable with a need for resources, perishable goods and livestock for its growing economies. However, against this China's cargo volumes are down to 45 to 50 per cent due to cooling economy and excess cargo capacity.
The freight arm has drilled down to operation level to keep costs down by using lightweight containers and keeping nets dry and clean to avoid extra weight and therefore cutting back fuel use.

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