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Business Buzz ¦ The new American Airlines ground service equipment repair building at JFK Airport, designed by Graf & Lewent Architects, received the Queens Chamber of Commerce 2009 Building Award in the New Construction – Industrial category at...


Business Buzz

¦ The new American Airlines ground service equipment repair building at JFK Airport, designed by Graf & Lewent Architects, received the Queens Chamber of Commerce 2009 Building Award in the New Construction – Industrial category at the Chamber’s annual awards gala in December 2009.

¦ Malabar International announced that it has received a 2009 Boeing Performance Excellence Award. The Boeing Company issues the award annually to recognize suppliers who have achieved superior performance. Malabar maintained a minimum Silver composite performance rating for each month of the 12-month performance period from Oct. 1, 2008, to Sept. 30, 2009.

¦ Air T Inc. reported consolidated net earnings of $1,247,000 ($0.51 per diluted share) for fiscal 2010’s third quarter ended Dec. 31, 2009, compared to consolidated net earnings of $974,000 ($0.40 per diluted share) for the third quarter of fiscal 2009. The company also reported year-to-date earnings for the nine months of $3,212,000 ($1.32 per diluted share) compared to $3,636,000 ($1.50 per diluted share) for the similar fiscal 2009 period. Consolidated revenues for fiscal 2010’s third quarter were $22,321,000, a decrease of 5 percent compared to the similar 2009 fiscal quarter. Consolidated revenues for the first nine months of the 2010 fiscal year were $61,411,000 or 12 percent lower than the prior year comparable period. At Dec.31, 2009, the backlog at Global Ground Support, the company’s ground support equipment business, was $5.7 million, compared to $12.2 million at Dec. 31, 2008.

¦ The International Air Transport Association announced that in 2009 intra-Asia-Pacific travel had eclipsed the number of travelers in North America as the world’s largest aviation market. Asia-Pacific’s travelers numbered 647 million compared the 638 million who traveled within North America (including domestic markets). By 2013 an additional 217 million travelers are expected to take to the skies within Asia–Pacific. The global aviation industry is expected to reduce losses from $11 billion in 2009 to $5.6 billion in 2010. The loss reduction is being led by Asia-Pacific’s carriers who are expected to see their losses shrink from $3.4 billion in 2009 to $700 million in 2010.

¦ The nation’s largest airlines had an on-time performance rate in 2009 that was their best since 2003, according to the Air Travel Consumer Report released by the U.S. Department of Transportation. In addition, the report showed that the carriers’ rate of mishandled baggage last year was the lowest recorded since 2004. According to information filed with the Bureau of Transportation Statistics (BTS), a part of DOT’s Research and Innovative Technology Administration (RITA), the 19 carriers reporting on-time performance recorded an overall on-time arrival rate of 79.5 percent in 2009, an improvement over 2008’s rate of 76.0 and the best annual record since the 82.0 percent on-time rate of 2003. In addition, the carriers recorded a mishandled baggage rate of 3.91 per 1,000 passengers in 2009, an improvement over 2008’s 5.26 and the best mark for a calendar year since the rate of 3.84 recorded in 2002.

¦ Fraport AG registered more passengers in January 2010 at Frankfurt Airport than in the comparable month last year. FRA welcomed approximately 3.7 million passengers in the first month of 2010, a 3.5 percent increase year-on-year. Airfreight tonnage increased at noticeably higher rates in the reporting month. Some 157,637 metric tons of airfreight at FRA represent a 32.2-percent gain. Aircraft movements at Frankfurt Airport slipped by 0.5 percent to 35,278 takeoffs and landings, mainly due to adverse weather conditions. The overall positive traffic development in January 2010 was also reported at the group level. The Fraport Group’s five majority-owned airports served a total of five million passengers in January 2010, 6.6 percent more than in January 2009.

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