Asia-Pacific Aerospace Briefs Today
September 19th 2022
Today's briefs report news from Airports Council International, FedEx, Gevo and Seoul Incheon Airport. Read More »
Airports Council International (ACI) said Seoul Incheon Airport is the first airport to receive Level 5 status in its Airport Customer Experience Accreditation program. Level 5 is the highest level of accreditation in the ACI program.
FedEx has withdrawn its fiscal 2023 earnings forecast amid a “continued volatile operating environment”. Late last week, the global air freight company reported operating income, or earnings before interest and tax (EBIT) declined 15%, to US$1.2 billion for the quarter to August 31. EBIT for the previous three months was US$1.4 billion. “Global volumes declined as macroeconomic trends significantly worsened later in the quarter, both internationally and in the U.S.,” FedEx CEO, Raj Subramaniam, said. “Given the speed at which conditions shifted, first quarter results are below our expectations.”
Fuel company, Gevo, has broken ground at the site of its first commercial scale sustainable aviation fuel production facility, to be built in Lake Preston, South Dakota. The company will accelerate construction of Net-Zero 1 in 2023 after closing finance for the project in coming months.
