Tag Archives: 777F

Lufthansa Cargo needs your help to name its first new Boeing 777F freighter

Lufthansa Cargo (Frankfurt) in October will be welcoming its first new Boeing 777F freighter in Frankfurt. The cargo airline is asking for your help in naming the aircraft. The carrier is now conducting a contest to name the plane. According to the airline, “the winner will be present at the test flight of our first Boeing 777F in Frankfurt. Get involved and be creative! Perhaps our fleet will soon bear your name. Name the plane!”

Lufthansa Cargo:

FedEx renews its contract with the United States Postal Service

FedEx Corporation (Memphis) has announced that its FedEx Express (Memphis) subsidiary has entered into a new express air transportation contract with the United States Postal Service. The current contract ends in September 2013, and the new contract will begin in October 2013.

Under this seven-year agreement, valued at approximately $10.5 billion, FedEx Express will provide airport-to-airport transportation of USPS Express Mail and Priority Mail within the United States.

Copyright Photo: Nick Dean/AirlinersGallery.com. Boeing 777-FS2 N884FD (msn 37137) gracefully climbs away from the Boeing factory at Paine Field near Everett, Washington.

FedEx Express:

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:

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

Qatar Airways:

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:

Boeing delivers the first 777 built at the increased rate

Boeing (Chicago) has delivered the first 777 built at the increased production rate of 8.3 per month, or 100 airplanes per year. The airplane, a 777 Freighter, was delivered to Korean Air (Seoul).

In the past 32 months, the 777 program has increased its production rate twice. The rate went from five to seven per month in 2011, and now to the all-time high of 8.3 per month.

1,072 777s have been delivered through the end of January and a total of 1,431 have been ordered from 66 customers around the globe.

Korean Air:

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:

TNT:

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

FedEx’s 2Q net income slips to $438 million, down 12% from last year’s $497 million, orders four Boeing 767-300 freighters

FedEx Corporation (FedEx Express) (Memphis) today reported earnings of $1.39 per diluted share for the second quarter ended November 30, compared to $1.57 per share last year. Superstorm Sandy impacted the quarter’s results by $0.11 per diluted share due to reduced shipment volumes and incremental operating costs.

Second Quarter Results:

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

• Revenue of $11.1 billion, up 5% from $10.6 billion the previous year

• Operating income of $718 million, down 8% from $780 million last year

• Operating margin of 6.5%, down from 7.4% the previous year

• Net income of $438 million, down 12% from last year’s $497 million

The results of the quarter also reflect, primarily at FedEx Express, the net year-over-year negative impact from the timing lag that exists between when fuel prices change and indexed fuel surcharges automatically adjust.

FedEx Express Segment:

For the second quarter, the FedEx Express segment reported:

• Revenue of $6.86 billion, up 4% from last year’s $6.58 billion

• Operating income of $230 million, down 33% from $342 million a year ago

• Operating margin of 3.4%, down from 5.2% the previous year

Revenue increased primarily due to this year’s business acquisitions and growth at FedEx Trade Networks, as core express revenue growth was constrained by global economic conditions and the impact of Superstorm Sandy.

U.S. domestic revenue per package grew 1% as higher rate per pound was partially offset by lower fuel surcharges. U.S. domestic average daily package volume declined 2%. FedEx international export average daily package volume grew 6% driven by increases in FedEx International Economy^®(IE) from Europe and Asia and by increases in FedEx International Priority^® (IP) from Asia. Higher growth in international deferred services continued, with IE volume growing 14%, while IP volume increased 3% during the quarter. International export revenue per package fell 4% due to the demand shift toward lower-yielding international services and lower fuel surcharges.

Operating income and margin were lower due to the demand shift toward lower-yielding international services, the negative year-over-year impact of net fuel changes, increased depreciation expense, the effects of Superstorm Sandy and higher pension costs. These were partially offset by the favorable impact of cost containment actions.

FedEx Express has entered into an agreement to purchase four additional 767-300 freighters as part of the company’s continued fleet modernization efforts. This brings the total 767-300 orders to 50, with deliveries beginning in fiscal 2014. In concert with this commitment, two 777 freighter deliveries were deferred from fiscal 2015 to fiscal 2016 in order to better match capacity timing to global demand.

FedEx Express:

FedEx Corporation reports 1Q net income of $459 million, down 1%

FedEx Corporation (FedEx Express) (Memphis) reported earnings of $1.45 per diluted share for the fiscal first quarter ended August 31, compared to $1.46 per share last year.

FedEx Corporation reported the following consolidated results for the first quarter:

• Revenue of $10.79 billion, up 3% from $10.52 billion the previous year

• Operating income of $742 million, up 1% from $737 million last year

• Operating margin of 6.9%, down from 7.0% the previous year

• Net income of $459 million, down 1% from last year’s $464 million

During the quarter, improved FedEx Freight results and the continued strong performance at FedEx Ground were more than offset by lower demand for priority services at FedEx Express.

FedEx Express:

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.

Emirates: