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Business 03 Apr 2003 | 12:00 AM

Global airline crisis claims another victim

Air Canada has filed for bankruptcy protection and more major airlines have announced cuts in jobs and flights to cope with the crisis in global aviation made worse by the Iraq war.

Business 04 Apr 2003 | 12:00 AM

MAS receives RM1bil from sale of properties

MALAYSIA Airlines (MAS) announced yesterday that it had received RM1bil in proceeds from the sale of its properties at the KLIA Complex from Asset Global Network Sdn Bhd (AGN), a wholly-owned subsidiary of Minister of Finance Inc.

Business 04 Apr 2003 | 12:00 AM

Foreign business news in brief

Foreign business news in brief including from Seattle that the Boeing Co, the world#8217;s largest jet maker, said it delivered 71 commercial aircraft in the first quarter, down 35% from the corresponding quarter of 2002, as its airline customers struggle to survive.

Business 05 Apr 2003 | 12:00 AM

Mergers in Japan neglect the hard part: cost cuts

TOKYO: Nobuaki Murayama need not look far to see why Mizuho Financial Group Inc and other products of Japanese mergers have not reduced jobs or raised profit.

Business 09 Apr 2003 | 12:00 AM

STE reports 11.9% drop in Q1 profit

ST Engineering Ltd (STE), South-East Asia#146;s largest defence group, has reported an 11.9% drop in first-quarter net profit but expects 2003 pre-tax profit to be comparable with last year#146;s.

Business 12 Apr 2003 | 12:00 AM

Virgin Atlantic keen on BA Concordes

Virgin Atlantic Airways is studying the possibility of buying all of British Airways' (BA) Concorde supersonic aircraft, which are to be retired later this year.

Business 14 Apr 2003 | 12:00 AM

Merger challenge for Penang freight forwarders

THE freight forwarding industry in Penang, which generates revenue totalling about RM2.5bil per month, is now facing challenges from globalisation and new government regulations that may drive those in- volved in the business to merge with one another.

Business 15 Apr 2003 | 12:00 AM

Good business in making road transport hardware

MANUFACTURING and fabrication of road transport hardware is an evergreen business, said Scomi Group Bhd president and chief executive officer Shah Hakim Zain.

Business 16 Apr 2003 | 12:00 AM

Airlines sound mayday call

A grouping of Asia-Pacific airlines urged governments yesterday to cut airport fees and other charges and consider providing war risk insurance to prevent the industry#8217;s collapse from the impact of the Severe Acute Respiratory Syndrome (SARS) outbreak.

Business 17 Apr 2003 | 12:00 AM

AAPA: Reduce rents and charges on airlines

AIRPORT and air traffic management services can and must reduce their charges, rents and other burden which they impose on the airlines, regardless of market fluctuations, the Association of Asia Pacific Airlines (AAPA) said.