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SBMA supports call to utilize Subic port

Subic Bay Metropolitan Authority (SBMA) yesterday said it supports House of Representative speaker Pantaleon Alvarez’s recommendation to utilize the port in Central Luzon. SBMA Chair Martin Diño, said the proposed plan is highly beneficial to the country’s economy because it will increase business activities in the Northern regions of Luzon. “Efficient trading boosts business growth and where there are thriving businesses; there are job opportunities,” Diño said in a statement. Diño noted that more than 30 million Filipinos will benefit from the proposed utilization plan, providing jobs to several regions in the country. He mentioned that among the fastest growing regions in the country is the Central Luzon where infrastructure projects have been put in place and investors are flocking in. “The roads leading to and from Central Luzon is in place, labor costs are …

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Delta had best-ever summer traffic – CEO

New York – Delta Air Lines this year carried the most passengers in a summer ever, despite a computer outage in August, Chief Executive Officer (CEO) Ed Bastian said on Friday. "We had the strongest summer in our history," Bastian said at an event in New York, adding that three days in July "set all-time records in terms of volume of traffic and volume of passenger flows." Bastian's comments come after Delta reported declines during the summer months in unit revenue, which tallies the amount of passenger revenue per available seat-mile. Bastian said traffic was up because fares were about 6 percent lower than last year. That meant revenue per passenger was down, but the airline's profit margins were "still strong," he said. Bastian also criticized subsidies that he said airlines in Qatar and …

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Aviation climate deal seen a win for airlines, less so for earth

The United Nations (UN) accord reached Thursday to clean up pollution from international aviation may cost airlines as much as $23.9 billion annually by 2035. The companies see it as a victory. The landmark deal brokered in Montreal creates a global system requiring airlines to compensate for emissions growth after 2020 by funding environmental initiatives. That spares carriers from exactly what they had pushed to avoid: A patchwork of regional environmental regulations that probably would have been even more costly. The accord is less of a win for the planet, at least in the eyes of environmentalists. The deal is voluntary for countries during the first six years. It covers only international flights, not domestic. Rather than forcing emission cuts, it allows airlines to increase pollution in exchange for buying credits that …

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Airline pollution deal hinges on carbon offsets

The United Nations (UN) aviation climate accord hinges on creating a system requiring companies to spend billions of dollars to protect forests, build solar farms and more. The trick will be ensuring those projects are legitimate. The agreement finalized Thursday in Montreal calls for airlines to compensate for their emissions growth beyond 2020 by buying credits to back eco-friendly initiatives. The idea is that as airlines add new routes, they’ll help finance projects to counteract the additional pollution. Think of it as planting trees to absorb every new ounce of carbon dioxide. Yet what types of credits, or carbon offsets, will be eligible and how the UN will verify their ecological integrity remains unresolved. The quality of these offsets varies. Last year, the research group Stockholm Environment Institute said about 75 percent …

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Japan’s NYK Line warns of $1.9-B hit

Tokyo/Singapore – Nippon Yusen, Japan's biggest shipper by sales, warned it would book a $1.9-billion hit to first-half income, after the industry's deepening slump forced it to write down the value of container ships and other assets. The shock writedown is the latest symptom of the dramatic slowdown in the container shipping sector. Weaker global trade, and in particular softer demand from China, has battered freight rates and left hundreds of ships idle. Chronic oversupply in the industry has already claimed one high profile victim this year: South Korea's Hanjin Shipping Co Ltd, the world's seventh largest container carrier before it went into receivership. Nippon Yusen, known as NYK Line, said in a statement it may revise full-year financial forecasts and would reconsider planned dividend payments. It will announce changes on Oct. 31, …

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Air passenger growth slowed in August

While lower airfares sustained people’s appetite for air travel, lingering effects of other factors, such as terrorist attacks, still affected global passenger demand (measured in total revenue passenger kilometers or RPKs), which climbed 4.6 percent in August versus the same period last year, slowing down from the 6.4 percent increase recorded in July. At the same time, capacity (available seat kilometers or ASKs) increased by 5.8 percent, and load factor slipped 0.9 percentage points to 83.8 percent, according to the latest statistics from the International Air Transport Association (IATA). “While that’s disappointing compared to the previous month’s performance, it is still healthy growth. And although terrorist attacks in Europe have dampened demand, the impact is ebbing,” according to IATA Director General and CEO Alexandre de Juniac. August international passenger demand rose 4.7 percent …

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Chinese tycoon expands aviation empire with $10-B US acquisition

China’s HNA Group, controlled by billionaire Chen Feng, agreed to buy the aircraft-leasing business of CIT Group, Inc. for $10 billion in a deal that would create the world’s third-largest rental fleet. HNA’s Avolon Holdings Ltd. will expand its lineup to 910 aircraft valued at more than $43 billion, including planes on order, the company said Thursday in a  statement. The acquisition is scheduled to close in the first quarter after regulatory and shareholder approval. “Our strategic objective is to build the No. 1 aircraft-leasing company in the world in terms of size, shape and scale,” Domhnal Slattery, chief executive officer of Avolon, said in a telephone interview. “This transaction enables that journey,” he said, adding the CIT unit has a “top-class portfolio, great management team, well run and it was really …

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IATA hails historic ICAO carbon accord

The International Air Transport Association (IATA) hailed the historic agreement for a market-based measure to support airlines’ efforts to stabilize emissions with carbon neutral growth under the leadership of the International Civil Aviation Organization (ICAO), have achieved. The agreement was reached by 191 member states attending the 39th ICAO Assembly which concluded the other day (October 6, 2016) in Montreal, Canada. They all agreed to implement a Carbon Offset and Reduction Scheme for International Aviation (CORSIA). “CORSIA was the first global scheme covering an entire industrial sector,” Alexandre de Juniac, IATA Director General and CEO, pointed out. “It has turned years of preparation into an effective solution for airlines to manage their carbon footprint. Aviation is a catalytic driver of social development and economic prosperity. With CORSIA, aviation remains at the forefront of industries …

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Moderate demand trend for air cargo continues

Worldwide, cargo demand improved in August, rising 3.9% year-on-year in freight tonne kilometers (FTKs) while freight capacity, measured in available freight tonne kilometers (AFTKs), increased 4.1%, according to the latest data from the International Air Transport Association (IATA). “While this is good news, the underlying market conditions make it difficult to have long-term optimism,” cautioned IATA Director General and CEO Alexandre de Juniac. “World trade volumes fell by 1.1% in July with no improvement on the horizon. And the current global political rhetoric in much of the world is more focused on protectionism than trade promotion. Economies need to grow out of the current economic doldrums. Governments should be focused on promoting trade, not raising protectionist barriers,” he elaborated. Even as industry conditions have improved since the particularly soft patch at the start …

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ICAO ratifies deal to cap aircraft carbon emissions

By Joan Lowy Washington–The United Nations’ aviation arm overwhelmingly ratified an agreement Thursday to control global warming emissions from international airline flights, the first international climate-change pact to set limits on a single industry. The agreement, adopted overwhelmingly by the 191-nation International Civil Aviation Organization (ICAO) at a meeting in Montreal, sets airlines’ carbon emissions in the year 2020 as the upper limit of what carriers are allowed to discharge. Airlines that exceed that limit in future years, as most are expected to do, will have to offset their emissions growth by buying carbon credits from other industries. The agreement is “a balanced, pragmatic, and very positive development,” said ICAO Director General Liu Fang, adding that it will “serve as an important new tool to complement the emissions reduction progress already being achieved” …

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