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Airbus predicts 4.8% annual growth in air freight
According to Airbus’ new Cargo Global Market Forecast, worldwide air-freight traffic will grow by an average of 4.8 per cent annually over the next 20 years, almost doubling the required global freighter fleet.
The projected growth is driven by numerous positive global economic trends, including world trade, private consumption, and industrial production.
The forecast is for overall worldwide air-cargo demand by 2032 to require about 2,700 new and converted aircraft. More than half of these will be needed for fleet replacements, with the remainder invested in growth.
Of the 2,700 aircraft, 870 will be factory-built freighters worth about US$234 billion (Bt7.27 trillion), while about 1,860 will be converted from passenger aircraft. A further 175 in 2032 will be aircraft that are already in service as freighters today.
Belly freight usage in passenger aircraft is taken into account – remaining largely unchanged at about half of commercial air freight on international traffic, said Andreas Hermann, Airbus’ vice president and head of freighters.
TripAdvisor launches TripConnect service
TripAdvisor has launched its TripConnect service – a self-service platform that allows TripAdvisor Business Listings subscribers to participate in hotel price comparison and drive direct bookings to their own property websites.
Each month, more than 260 million unique users visit TripAdvisor to plan travel, and TripConnect will enable independent accommodation owners to bid for this traffic, an option that was previously only available to online travel agents and large hotel chains.
With the launch of TripConnect, independent hotels and bed-and-breakfasts will be able to add their own direct rates and availability, meaning that travellers can click directly through to the property’s own website to make a booking, said Jean-Charles Lacoste, TripAdvisor’s vice president of direct-connect solutions.
Rosneft targeting hard-to-reach oil projects
Skyrocketing energy concerns in emerging economies and rising global energy consumption require creative solutions and technological know-how, Igor Sechin, CEO of Rosneft, told the World Energy Congress in Daegu, South Korea.
Rosneft is an integrated oil company majority-owned by the Russian government. Sechin said Russia was in an excellent position to help meet the world’s energy demands, and would make a considerable contribution to energy security.
He added that the prerequisites for tapping into that potential were investments, technology and equipment.
Recent changes have been increasing opportunities for the energy sector in the Russian market. Late last month, Russia introduced tax breaks to encourage oil firms to explore hard-to-reach undersea fields, part of a bid to tap into new reserves.
Rosneft is eyeing projects in the Russian Far East and the Arctic, he said, with offshore projects, offering “huge potential” for increasing the resource base and offsetting declining production in mature fields.
Rosneft and ExxonMobil are partnering to build a joint LNG (liquefied natural gas) plant in Russia’s Far East, he continued.
Thai AirAsia eyes growing travel to and from China
Thai AirAsia foresees busier travelling between Thailand and China if both countries agree to waive visas.
Methapan Thaweekiatikun, senior product manager of Asia Aviation, which operates the low-cost airline, said Thai AirAsia now served eight Chinese cities, with a ninth route (Bangkok-Kunming) starting on November 15. More flights will be added to the Bangkok-Hong Kong and Bangkok-Macau routes this quarter to cope with increasing demand.
Thai AirAsia flies 119 weekly flights to Chinese destinations. Their average load factor is 85 per cent, and that level should be maintained thanks to promotional campaigns.
The airline aims to serve 10 million passengers this year, up from 8 million last year.
KBank reports 15.35% jump in net profit
Kasikornbank has announced net profit for the first nine months of Bt31.79 billion, up 15.35 per cent over the same period of 2012, president Predee Daochai said.
He said the rise was due mostly to an increase in net interest income by Bt7.06 billion or 15.17 per cent. Net interest margin stood at 3.51 per cent. Meanwhile, non-interest income rose Bt5.94 billion or 19.45 per cent thanks to continuous growth in net income from fees and services, as well as net premiums earned. Moreover, the efficiency ratio was 42.15 per cent in this period.
As of September 30, KBank and its subsidiaries’ total assets were Bt2.24 billion, rising Bt162.59 billion or 7.83 per cent over the end of 2012, the major increase due to investments and loans. The ratio of gross non-performing to total loans stood at 2.13 per cent, compared with 2.16 per cent at end-2012.
In this period, KBank set aside a higher allowance for impairment loss on loans, partially to serve as a countercyclical provision to prepare the bank for any future economic downturn and changing economic circumstances, both domestic and abroad. The coverage ratio stood at 132.85 per cent as of September 30, while at the end of 2012 it was 131.83 per cent.
In addition, as of September 30, Kasikornbank Financial Conglomerate’s capital adequacy ratio under Basel III was 17.31 per cent, with a 13.13-per-cent Tier 1 capital ratio.
TFEX, KTB offer currency-hedge tool
Business enterprises, particularly SMEs, will have a new currency-management alternative under an agreement between Thailand Futures Exchange and Krungthai Bank. These enterprises can buy US dollar futures to fix the preferred exchange rate in advance, and they can exchange their expiring futures for dollars at the bank.
TFEX managing director Kesara Manchusree said this cooperation would make hedging through dollar futures more comprehensive. This will reduce SMEs’ financing costs and enhance their competitiveness.
The exchange service will be first available at 55 KTB branches in Greater Bangkok and other major cities. Clients can trade the futures for dollar notes or transfer receipts, or they can park the sum in a dollar account.
In the first nine months of this year, TFEX witnessed the transaction of 210,306 dollar futures contracts, or a daily average of 1,145 contracts.
Ch Karnchang to bid on transport contracts
Ch Karnchang plans to bid for operating contracts for new mass-transit routes and high-speed rail when the government calls tenders, CEO Plew Trivisvavet said.
He added that the company was confident of raising new capital of Bt8.55 billion for its subsidiary Bangkok Metro. The funds will be used to pay debts and for cash flow. This will help Bangkok Metro achieve healthy financial results and give it purchasing power bid on new mass-transit routes.
Meanwhile, Ch Karnchang says it is in a good financial position to bid on construction jobs under the government’s infrastructure mega-project. Currently, the company has projects in hand worth Bt126 billion that will generate average annual revenue of Bt30 billion through 2017.
