Tag Archives: 777200F

LATAM swings to a net profit of $52 million in the third quarter

LATAM Airlines Group (LAN Airlines and TAM Linhas Aereas) (Santiago and Sao Paulo) swung to the black in the third quarter with a net profit of $52 million versus a loss of $49 million a year ago for the same period.

Read the full report: CLICK HERE

Read the analysis by Reuters: CLICK HERE

Copyright Photo: Rodrigo Cozzato/AirlinersGallery/com. LAN Cargo’s (LAN Airlines Chile) Boeing 777-F16 N778LA (msn 41518) departs from Viracopos Airport near Sao Paulo.

LAN Airlines: AG Slide Show

TAM Linhas Aereas: AG Slide Show

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LATAM Airlines Group loses $330 million in the 2Q

LATAM Airlines Group (LAN Airlines and TAM Linhas Aereas) (Santago and Sao Paulo) reported it lost $330 million in the second quarter. The group was created last year with the merger of the two airlines. The group is struggling in Brazil with TAM due to a weakening Brazilian economy. TAM is cutting costs and reducing flights.

Read the full report: CLICK HERE

LATAM Airlines Group Fleet Plans (excerpt from the report):

LATAM Airlines Group 8:2013 Fleet

Top Copyright Photo: Rodrigo Cozzato/AirlinersGallery.com. Sporting new Sharklets, Airbus A320-214 PR-MYY (msn 5591) taxies at the Sao Paulo (Guarulhos) hub.

LAN Airlines (Chile): AG Slide Show

TAM Linhas Aereas: AG Slide Show

Bottom Copyright Photo: Alvaro Romero/ModoCharlie.com. Boeing 777-F6N N772LA (msn 37708) arrives at the Santiago hub.

TNT Express to cut 4,000 jobs and will focus on Europe

TNT Express (Hoofddorp), the parent of TNT Airways (Liege), announced today an extensive reorganization plan to go it alone after its takeover by UPS was rejected by the European Commission. The downsizing will result in a loss of 4,000 jobs as it will now concentrate on serving mainly its European routes. The struggling company needs to save approximately $286 million by 2015.

Read the analysis by Reuters: CLICK HERE

Read the official statement by the company: CLICK HERE

Copyright Photo: Ole Simon. Some of the long-range aircraft are likely to be dropped from the fleet with this downsizing. Operated by Southern Air for TNT Airways, Boeing 777-FHT N778SA (msn 39286) prepares to touch down at Dubai International Airport.

TNT: AG Slide Show

Qatar Airways wants to be the second largest cargo airline in the world

Qatar Airways (Doha) is one of the fastest-growing passenger airlines in the world. This year the flag carrier will move into a new and larger Doha International Airport currently under construction. According to this report by The National, Qatar Airways also wants to be the second largest cargo airline in the world.

Read the full report: CLICK HERE

Copyright Photo: Michael Stappen. Boeing 777-FDZ A7-BFB (msn 36100) lands at Amsterdam.

Qatar Airways: AG Slide Show

Atlas Air Worldwide dry-leasing subsidiary Titan Aviation acquires a Boeing 777 Freighter

Atlas Air Worldwide Holdings, Inc. (New York) today announced the acquisition of a Boeing 777 Freighter by its dry-leasing subsidiary, Titan Aviation. The aircraft is currently on long-term lease to AeroLogic GmbH (Leipzig), a cargo airline based in Germany and a joint venture of DHL Express and Lufthansa Cargo AG.

“With the purchase of this 777 freighter, we gain entry into an attractive aircraft type consistent with our strategy of investing in new technology that creates superior value for our customers,” said William J. Flynn, President and Chief Executive Officer, Atlas Air Worldwide.

“This deal represents an important part of our plan to grow Titan’s dry-leasing platform through selective investments in aircraft with existing leases that support leading operators in the airfreight industry. While Titan is principally a cargo aircraft dry lessor, its portfolio includes passenger narrow-body aircraft, engines and related equipment. It also provides customers expertise in asset management, passenger-to-freighter conversion, and other technical services.”

Norddeutsche Landesbank Girozentrale (NORD/LB), a leading aircraft financier based in Hanover, Germany, provided financing for the 2010 vintage aircraft.

AeroLogic GmbH was founded in September 2007 with headquarters in Schkeuditz/Leipzig, Germany. The AeroLogic fleet is composed of eight Boeing 777Fs.

Copyright Photo: Nick Dean. AeroLogic’s Boeing 777-FZN D-AALC (msn 36003) is pictured at Everett (Paine Field) prior to its handover.

AeroLogic: AG Slide Show

UPS to drop its bid to acquire TNT Express due to expected EC disapproval

United Parcel Service Inc (UPS) (UPS Airlines) (Atlanta and Louisville) will drop its bid to acquire TNT Express N.V. (Hoofddorp) because it now expects the European Commission (EC) to deny the acquisition.

On March 19, 2012, UPS announced its intention to acquire TNT Express for $6.7 billion. On September 5, 2012, UPS announced it expected to close the deal in early 2013 subject to EC approval.

UPS will pay TNT a termination fee in the amount of EUR 200 million.

TNT Airways (Liege) is a subsidiary of TNT Express. TNT is now expected to remain independent.

UPS issued the following statement:

United Parcel Service, Inc. announced today (January 14) the European Commission (EC) has informed UPS and TNT Express that it is working on a decision to prohibit the proposed acquisition of TNT Express.

UPS submitted an initial remedies proposal on November 29, 2012 and subsequently revised the proposal twice. UPS began the competitive review process with the EC in March 2012.

Scott Davis, UPS Chairman and CEO said, “We are extremely disappointed with the EC’s position. We proposed significant and tangible remedies designed to address the EC’s concerns with the transaction. The combined company would have been transformative for the logistics industry, bringing meaningful benefits to consumers and customers around the world, while supporting growth in Europe in particular.”

Upon prohibition by the EC, the Offer Condition relating to EU Competition Clearance will not be fulfilled and UPS will pay TNT a termination fee in the amount of EUR 200 million and will withdraw the Offer.

Further announcements will be made once the European Commission has issued its formal decision. The decision is expected to be adopted formally in the coming weeks.

Top Copyright Photo: Michael B. Ing. Boeing 747-44AF N572UP (msn 35669) climbs away from Anchorage International Airport (ANC).

UPS: AG Slide Show

TNT: AG Slide Show

Bottom Copyright Photo: Rainer Bexten. Southern Air’s Boeing 777-FHT N778SA (msn 39286) arrives at the Liege, Belgium sorting facility.

Emirates SkyCargo starts new freighter service to Osaka and Seoul

Emirates SkyCargo, the freight division of Emirates Airline (Dubai), commenced a new freighter service from Dubai to Japan and Korea on September 7.

The new service will operate one flight per week and serve the growing demand for air freight to and from Kansai International Airport and Seoul Incheon International Airport. Flight EK 9891 – using a Boeing 777F freighter with a cargo capacity of more than 100 tons – will depart Dubai every Thursday at 22:30 and arrive at Kansai at 12:40 the following Friday, and depart Kansai at 14:40 and arrive at Inchon at 16:10 same day.

Flight EK 9892 from Incheon to Dubai will depart from Incheon at 18:15 every Friday and arrive at Dubai at 22:45 on the same day.

Copyright Photo: Andi Hiltl. Boeing 777-F1H A6-AFG (msn 35613) climbs away from the runway at Zurich.

Emirates: