Air Carrier News

The Biden administration recently issued a sweeping Executive Order [1] aimed at protecting and enhancing competition, and the transportation sector—including air, ocean, and rail—is among the industries specifically identified and likely to see heightened antitrust scrutiny under the new directives. This executive action was soon followed by the long-awaited announcement of Biden’s pick to lead the U.S. Department of Justice’s Antitrust Division (Division), Jonathan Kanter, who…

Niels Aalund was elected President of the International Propeller Club at their 93rd International Convention and Conference. The prominent maritime industry stakeholder will serve a two-year term, commencing from October 17th. Aalund, a well-known maritime subject matter expert and executive, also serves as an Officer and as Senior Vice President of the West Gulf Maritime Association (WGMA). WGMA communicates and coordinates with various governmental entities throughout the West Gulf…

The former chairwoman Choi Eun-young (55) of the now-defunct Hanjin Shipping was jailed 18 months for insider trading, reports Yonhap. According to the report the Seoul Central District Court found Choi  guilty of selling off her family-stake in the shipping company days before it declared a court-led debt restructuring plan. She was also fined with USD 1.09 million. The court said, although her charges are grave enough to deserve a heavy punishment, it considered that the stake selling does not appear to have been meticulously planned out and that Choi already donated 10 billion won to bear the responsibility for her misdeed. Choi was indicted in December last year for unloading the stakes held by her and her two daughters, taking advantage of the undisclosed information.

Piraeus Port, Greece's largest, aims to increase its cruise traffic from 1 million passengers a year up to 1.5 million in the short-term and to 3 million long-term, its managing director, Fu Cheng Qiu, said on Friday. COSCO Shipping, which owns the world's fourth-largest container shipping fleet, bought 51 percent of the port's operating company last year, and plans significant investment to turn the port into a transhipment hub for rapidly growing trade between Asia and Eastern Europe. In a speech welcoming a first group of 250 Chinese cruise passengers in Piraeus, Fu, who took over last year, said COSCO also plans to upgrade cruise services to attract Chinese tourists and tap into the port's growth potential in the cruise industry in the Mediterranean Sea.

The U.S. Treasury Department, Office of Foreign Assets Control (OFAC) and the U.S. Department of Commerce Bureau of Industry and Security (BIS) has publish revised Cuba sanctions regulations opening trade with Cuba for the first time in decades. Those changes, issued January 16, 2015, are the first step in moving toward normal relations with Cuba. The revised regulations ease certain limitations on travel to Cuba and certain associated services (e.g., insurance services), broaden exports and imports, and make financial transactions related to authorized transactions easier. The biggest impacts appear to be in travel, telecommunications, financial services and exports to the Cuban private sector. A pre-release of the revised regulations from the U.S.

Cairo-Arab Maritime Petroleum Transport Company (AMPTC) announced that the vessel M/T Zirku and its 29 officers and crew held by Somali pirates since March 28 2011 have been safely released and that the ship is now under the control of the Master en route to a safe port. All crew are reported to be safe and well, though tired and hungry after this 75 day ordeal. The families of the officers and crew have been informed and share in the company’s relief and happiness over their release. On arrival at the safe port all crew will receive medical checks and treatment if necessary. After debriefing and processing the crew will be sent home by air carrier. “We are absolutely delighted with this result.