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Boeing may sue over losing tanker contract
- WASHINGTON, March 3 (WorldACD) - The Air Force over the weekend delivered a shock to storied American airplane builder The Boeing Co. by choosing a team of Northrop Grumman Corp. and Airbus parent EADS to build a new fleet of air-to-air refueling tankers and cargo planes -- a contract potentially worth $100 billion.
Air Force Secretary Michael Wynne's surprise announcement at the Pentagon set the stage for the next phase of a high-stakes struggle and coming debate likely to be framed in terms of economic nationalism.
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Cargolux to pull India flights – report
- CHENNAI, India, Mar 3 (WorldACD) - Cargolux is pulling its India flights as a result of declining yields from that market, International Freighting Weekly reports quoting a senior executive at the cargo airline.
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IATA calls for improvement in air cargo competitiveness
- ROME, Mar 4 (WorldACD) - The International Air Transport Association (IATA) has called on the air cargo supply chain to coordinate efforts to drive an industry agenda for change that will improve customer service and competitiveness.
“Air cargo is a US$50 billion business that is losing competitiveness. World trade grew 7.5pct last year and our growth forecast for this year is 4.0pct,” said Giovanni Bisignani, IATA’s Director General & CEO, who was speaking at the Association’s second World Annual Cargo Symposium attended by 900 air cargo industry leaders in Rome, Italy.
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TREND – Freight traffic makes solid start - ACI
- GENEVA, Mar 4 (WorldACD) - Airports Council International (ACI) said total freight handled worldwide in January rose by 6 pct compared to the corresponding month last year with international freight up by 8 percent and domestic freight increasing by 2 percent.
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Congress to question Air Force on tanker decision
- CHICAGO, March 5 (WorldACD) - With The Boeing Co. demanding answers about why its plane lost out to one from Airbus as the next air-refueling cargo tanker for the Air Force, Congress prepared to grill senior service officials Wednesday about their decision, which has touched off a political firestorm.
"It's important for us to understand how the Air Force reached their conclusion," Mark McGraw, vice president of Boeing's 767 tanker program, said in a statement Tuesday that questioned why the Air Force was waiting so long to debrief the company.
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Cathay Pacific reports strong net profit rise in 2007
- HONG KONG, Mar 5 (WorldACD) - Cathay Pacific Airways said it recorded net profit of HK$7.02 billion in 2007, up 71.8 percent compared with HK$4.09 billion in 2006, while pointing out that its profit margin for the year improved to 11.2 percent from 8 percent in 2006.
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Boeing moves forward on new freighter
- EVERETT, Washington, March 6 (WorldACD) - The Boeing Company said Thursday that it has completed 50 percent of the design releases for the new 747-8 Freighter.
The program has released the 747-8 Freighter's detailed designs to Boeing factories and its suppliers in order to begin building parts, assemblies and tools for the new cargo airplane.
The 747-8 Freighter, which launched in November 2005, is scheduled to be delivered in late 2009 to launch customers Cargolux and Nippon Cargo Airlines.
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D.Post to decide on US express in May
- BONN (WorldACD) - Deutsche Post World Net AG will present its decision on the future of its troubled US express operations in May, according to a Thomson Financial news report quoting new chief executive, Frank Appel, who was speaking during the German mail services company's annual press conference.
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