It's a sign of the times in the topsy-turvy air cargo market that while one eager operator can't wait to get its hands on the latest Boeing 747-8F freighter, others are negotiating deferrals. Such was the confusing picture at Boeing's Everett, Wash., site on Jan. 26 as burgeoning Russian operator AirBridge Cargo (ABC) celebrated the hand-over of its first 747-8F. Meanwhile, not far away, other factory-fresh freighters temporarily sat idle, swaddled against the winter weather in protective covers.

The demise of struggling carriers can take years—as the history of many of the failed airlines has shown—and all too often their executives are very creative in finding yet another investor who is courageous enough (or is ill-informed about the industry) to extend an ailing enterprise a lifeline. Bankruptcies are therefore rare and spectacular.

Aviation may not be a zero-sum game, but in Europe it may seem that way. As several midsize national carriers struggle, low-fare airlines are ready to profit further. But exuberance about the short-term opportunities is dampened by new competitive pressures on the horizon. With Spanair having ceased flying because of financial problems and Hungarian flag carrier Malev on the brink of insolvency, low-cost carriers such as Ryanair and EasyJet see opportunities to improve their own business.

Wind tunnel and structures tests mark next steps for NASA's advanced airliners plan.

BEIJING—The Chinese call it “daxing tumu,” being keen on large-scale construction. It seems that wherever one looks in this country someone is building a mighty new bridge, office tower, airport, freeway or aircraft hangar, more physical capital for the roaring economy.

BEIJING—In early 2008, Avic I, as it was then, announced it was setting up an airline that would buy its regional airliners, a move that had many industry watchers perplexed. To any trenchant doubter of China's future in civil aeronautics, it must have seemed that the product, the 50-60-seat MA60 turboprop, was so uncompetitive that Avic I could only sell it to itself.

AirAsia plays a big role as Malaysia makes a pitch for a larger share of the MRO work in Asia.

What are your priorities for 2012? Wisbrun: We want to get Skyteam to the next level of execution. In 2008 it was decided that a central function should be introduced. I took over six months ago, and my key target is now to drive the membership into more collaboration to get more synergies out of it. The focus is more on getting things done than growing the network. We want to be more focused on customer benefits.