Tag Archives: Boeing 777F

Korean Air finalizes its order for five additional Boeing 777F freighters

Boeing (Chicago, Seattle and Charleston) and Korean Air (Seoul) have finalized an order for five 777 Freighters. Korean Air currently operates an all-Boeing freighter fleet of 26 airplanes that includes 17 747-400 Freighters, five 747-8 Freighters and four 777 Freighters.

Korea’s flag carrier currently operates 86 Boeing passenger airplanes and has unfilled orders for nearly 40 additional airplanes, including 12 777-300ERs, 10 747-8 Intercontinentals, 10 787-9 Dreamliners, two 747-8 Freighters and six 777 Freighters.

Copyright Photo: Michael B. Ing/AirlinersGallery.com. Boeing 777-FB5 HL8251 (msn 37639) is beautifully captured landing at Anchorage.

Korean Air aircraft slide show: AG Airline Slide Show

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Qatar Airways finalizes its order for four Boeing 777 freighters

Qatar Airways (Doha) and Boeing (Chicago, Seattle and Charleston) have finalized an order for four 777 Freighters, valued at $1.24 billion at current list prices. The airline also has purchase rights for four additional airplanes, which when exercised will bring the combined value to $2.46 billion.

Qatar Airways first announced an intent to order the four 777 Freighters at the 2014 Farnborough Airshow.

Qatar Airways currently operates a fleet of 37 Boeing 777-300E Rs (Extended Range) and 777-200 LRs (Longer Range), in addition to seven 777 Freighters.

The 777 Freighter is capable of flying 4,900 nautical miles (9,070 kilometers) with a full payload and general cargo market densities, making it the world’s longest-range twin-engine freighter.

Global air freight traffic is forecast to grow at an annual rate of 4.7 percent, doubling the cargo traffic over the next 20 years, according to the Boeing World Air Cargo Forecast released in October.

Copyright Photo: TMK Photography/Airlinersgallery.com. Boeing 777-FDZ A7-BFD (msn 41427) arrives in Amsterdam.

Qatar Airways aircraft slide show:

FedEx Express requests NMB mediation for a new pilots contract

FedEx Express (Memphis), a subsidiary of FedEx Corporation (Memphis), has formally requested assistance from the National Mediation Board (NMB) to expedite its ongoing pilot negotiations. The NMB is the U.S. governmental agency that oversees labor agreements for entities covered by the Railway Labor Act (RLA), such as airlines, railroads and express companies.

The company and its pilots, who are represented by the Air Line Pilots Association (ALPA), have been engaged in contract talks for more than a year. The current contract became amendable on February 25, 2013 and the two sides reached a tentative agreement on 20 of the 31 contract sections in September 2014.

Under the RLA, the terms and conditions of the existing contract between the company and ALPA do not expire until the full multi-step RLA process is exhausted. In the meantime, the progression of negotiations into the mediation stage has no impact on company operations or its ability to provide highly reliable service to customers.

Copyright Photo: Michael B. Ing/AirlinersGallery.com. Boeing 777-FS2 N862FD (msn 37733) arrives on a cold day at Anchorage.

FedEx Express Aircraft Slide Show: AG Slide Show

 

Lufthansa Cargo to operate all flights despite a strike by the pilots

Lufhansa Group (Frankfurt) has issued this statement concerning a strike against subsidiary Lufthansa Cargo (Frankfurt):

Good news for customers of Lufthansa Cargo: the airline plans to operate all of its flights despite the walkout announced by the pilots’ union, Vereinigung Cockpit. The strike was set to ground all cargo flights scheduled to depart from Frankfurt on Wednesday (October 8) and Thursday (October 9).

Two flights will be departing earlier than scheduled, allowing them to bypass the strike period. As Lufthansa Cargo usually flies about half of its freight in the bellies of Lufthansa and Austrian Airlines passenger aircraft, the effects for customers will be kept at an absolute minimum.

Lufthansa has shown willingness to compromise in its discussions with Vereinigung Cockpit and offered new negotiations on the disputed issues. The airline therefore has little understanding for this renewed call to a strike and also considers it entirely out of proportion – especially as the minimum age for early retirement at Lufthansa Cargo is already 60 years.

Copyright Photo: James Helbock/AirlinersGallery.com. Boeing 777-FBT D-ALFA (msn 41674) arrives at Los Angeles.

Lufthansa Cargo: AG Slide Show

AeroLogic adds a new route to Hong Kong

AeroLogic (Leipzig/Halle) on October 26 will add a new weekly cargo route from Frankfurt to Hong Kong via Ashgabat. The return flight will operate nonstop per Airline Route.

The company was established as a joint venture by Deutsche Lufthansa AG and Deutsche Post Beteiligungen Holding AG. The respective companies of the shareholders entrusted Lufthansa Cargo and DHL Express with the operational responsibility.

AeroLogic has its own Air Operator Certificate (AOC), its own traffic rights, and is responsible for all airline operations including aircraft, pilots and network.

The route network includes more than 20 destinations in Europe, in the Middle East, in Asia and North America. During the week, AeroLogic mainly flies to Asia within the express network of DHL Express, and on the weekend to the USA within the network of Lufthansa Cargo respectively.

Copyright Photo: Nick Dean/AirlinersGallery.com. Boeing 777-FZN D-AALC (msn 36003) taxies at Paine Field in Everett.

AeroLogic: AG Slide Show

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FedEx Corporation’s earnings surge in the first quarter to $606 million

FedEx Corporation (FedEx Express) (Memphis) reported its earnings for its fiscal first quarter surged by 24 percent to net income of $606 million. The corporation issued this financial report:

FedEx Corporation today reported earnings of $2.10 per diluted share for the first quarter ended August 31, up 37% from last year’s $1.53 per share.

First Quarter Results

FedEx Corp. reported the following consolidated results for the first quarter:

• Revenue of $11.7 billion, up 6% from $11.0 billion the previous year

• Operating income of $987 million, up 24% from $795 million last year

• Operating margin of 8.5%, up from 7.2% the previous year

• Net income of $606 million, up 24% from last year’s $489 million

Operating income increased primarily due to higher volumes and increased yields at all three transportation segments. Results in the first quarter also include benefits from lower pension expense and the company’s profit improvement programs. These benefits were partially offset by higher aircraft maintenance expense due to the timing of certain engine maintenance events.

During the quarter, the company acquired 5.3 million shares of FedEx common stock. As of August 31, 2014, no shares remained under the existing share repurchase authorizations. Share repurchases benefited earnings in the quarter by $0.15 per diluted share.

Outlook

FedEx reaffirmed its fiscal 2015 earnings forecast of $8.50 to $9.00 per diluted share. The outlook assumes no net year-over-year fuel impact and continued moderate economic growth. The capital spending forecast for fiscal 2015 remains $4.2 billion.

“FedEx reported strong first quarter results, as all three of our transportation segments drove higher revenues and improved profitability year over year,” said Alan B. Graf, Jr., FedEx Corp. executive vice president and chief financial officer. “Our profit improvement programs are progressing as planned and we continue to expect strong earnings growth this year.”

2015 Rate Increases

As previously announced, FedEx Express, FedEx Ground and FedEx Freight will increase shipping rates effective January 5, 2015.

FedEx Express will increase shipping rates by an average of 4.9% for U.S. domestic, U.S. export and U.S. import services.

FedEx Ground and FedEx Home Delivery will increase shipping rates by an average of 4.9%. In addition, as announced in May, FedEx Ground will also begin applying dimensional weight pricing to all shipments.

FedEx Freight will increase shipping rates by an average of 4.9%. This rate change applies to eligible FedEx Freight shipments within the U.S. (including Alaska, Hawaii, Puerto Rico and the U.S. Virgin Islands), between the contiguous U.S. and Canada, within Canada, between the contiguous U.S. and Mexico, and within Mexico.

Details of all changes to rates and surcharges are available at fedex.com/us/2015rates.

Corporate Headquarters Costs

Effective this fiscal year, the company ceased allocating to its transportation segments the costs associated with the corporate headquarters division. These costs are now included in “Corporate, eliminations and other.” Prior year amounts in this release have been revised to conform to the current presentation.

FedEx Express Segment

For the first quarter, the FedEx Express segment reported:

• Revenue of $6.86 billion, up 4% from last year’s $6.61 billion

• Operating income of $369 million, up 35% from $273 million a year ago

• Operating margin of 5.4%, up from 4.1% the previous year

Revenue increased due to higher U.S. domestic package volume and international export package yields partially offset by lower freight revenue. U.S. domestic package volume grew 5%, as 8% growth in overnight and deferred box volume was partially offset by lower envelope volume. U.S. domestic yield increased 1% from higher fuel surcharges, changes in service mix and increased rates. FedEx International Priority® volume grew 1%, while FedEx International Economy® volume increased 3%. International export revenue per package increased 3% due to fuel surcharges, higher rates and weight per package.

Operating income and margin improved as higher U.S. domestic package volume, improved international export yield and benefits from profit improvement programs more than offset higher aircraft maintenance expense and lower freight revenues.

Copyright Photo: Steve Bailey/AirlinersGallery.com. Boeing 777-FHT N883FD (msn 39285) of FedEx Express climbs away from the runway at Anchorage Ted Stevens International Airport (ANC).

FedEx Express: AG Slide Show

Qatar Airways Cargo to expand to Brussels and Shanghai

Qatar Airways Cargo (Qatar Airways) (Doha) is set to continue its expansion with the launch of two new freighter destinations, Brussels in Belgium and Shanghai in China.

Brussels will be served four times weekly by the Airbus A330F freighter, effective on October 1. The freighter will fly via Entebbe to Brussels on Wednesdays and Sundays and via Nairobi to Brussels on Mondays and Fridays.

A three-times weekly nonstop Boeing 777 freighter service will operate on the Doha-Shanghai-Doha route, effective October 2.

In addition, with effect from October 1, an additional Boeing 777 freighter frequency will be added on the Doha – Hong Kong route, bringing up the weekly frequencies to 14.

Qatar Airways Cargo completed the transition from a manually handled cargo environment to a fully automated cargo terminal at Hamad International Airport when it moved to the new state-of-the-art facility. The brand new cargo terminal at Hamad International Airport offers the very latest technology and five-star service to customers around the globe.

Previously Qatar Airways signed a Letter of Intent for four additional Boeing 777Fs.

Copyright Photo: Nick Dean/AirlinersGallery.com. Boeing 777-FDZ A7-BFE (msn 39644) taxies at Paine Field near Everett.

Qatar Airways: AG Slide Show