Wirraway
9th Dec 2004, 13:08
Fri "Sydney Morning Herald"
Qantas stacks up Asian freight plans
By Scott Rochfort
December 10, 2004
Qantas confirmed plans to launch its second Asia-based airline by mid-2005, after signing its latest joint venture in Bangkok yesterday.
In an attempt to capture a slice of the burgeoning intra-Asian freight market, Qantas said its Thai Air Cargo, based in Bangkok, would start freighter services to India and Japan from Thailand, before expanding into China and Europe.
The airline will be 51 per cent owned by the Thai freight forwarding group CTI Holding and 49 per cent by Qantas.
Being majority Thai-owned, Thai Air Cargo will give Qantas far more freedom to operate freight services within Asia.
Qantas's executive general manager for associated businesses, Denis Adams, said the airline would start off with one leased MD11 aircraft, capable of carrying 86 tonnes of cargo.
Yesterday's announcement capped years of planning between Qantas and CTI, given the original discussions were put on the backburner after the 1998 Asian economic crisis.
The move comes just a week after Qantas signalled a significant boost in its freight operations by confirming plans to launch a twice-weekly service to Frankfurt from January 15 and a weekly freighter service to Johannesburg from January 25.
Despite the airline's having steered clear operating freighter aircraft until recently, Mr Adams said Qantas was not intimidated by more experienced Asian cargo operators such as Singapore Air, Cathay Pacific and Korean Airlines.
Mr Adams said there was plenty of market share growth in Asia to be shared around.
Qantas generated $470 million in freight revenue in 2003-04.
International air freight into Australia alone, of which Sydney handles 55 per cent, is expected to treble in the next 20 years.
Sydney Airport predicts it will experience 4.9 per cent a year growth in freight volumes until 2024.
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Qantas stacks up Asian freight plans
By Scott Rochfort
December 10, 2004
Qantas confirmed plans to launch its second Asia-based airline by mid-2005, after signing its latest joint venture in Bangkok yesterday.
In an attempt to capture a slice of the burgeoning intra-Asian freight market, Qantas said its Thai Air Cargo, based in Bangkok, would start freighter services to India and Japan from Thailand, before expanding into China and Europe.
The airline will be 51 per cent owned by the Thai freight forwarding group CTI Holding and 49 per cent by Qantas.
Being majority Thai-owned, Thai Air Cargo will give Qantas far more freedom to operate freight services within Asia.
Qantas's executive general manager for associated businesses, Denis Adams, said the airline would start off with one leased MD11 aircraft, capable of carrying 86 tonnes of cargo.
Yesterday's announcement capped years of planning between Qantas and CTI, given the original discussions were put on the backburner after the 1998 Asian economic crisis.
The move comes just a week after Qantas signalled a significant boost in its freight operations by confirming plans to launch a twice-weekly service to Frankfurt from January 15 and a weekly freighter service to Johannesburg from January 25.
Despite the airline's having steered clear operating freighter aircraft until recently, Mr Adams said Qantas was not intimidated by more experienced Asian cargo operators such as Singapore Air, Cathay Pacific and Korean Airlines.
Mr Adams said there was plenty of market share growth in Asia to be shared around.
Qantas generated $470 million in freight revenue in 2003-04.
International air freight into Australia alone, of which Sydney handles 55 per cent, is expected to treble in the next 20 years.
Sydney Airport predicts it will experience 4.9 per cent a year growth in freight volumes until 2024.
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