The Association of Asia Pacific Airlines's (AAPA) international air cargo traffic decreased 5.5% to 4.5 billion freight ton kilometers in July 2008. However, the average cargo load factor rose marginally to 66.6%, as a result of a 5.9% reduction in flown capacity.

Andrew Herdman, director general of AAPA, said: "These figures provide confirmation that slowing economic growth is having a very serious impact on travel demand, compounded by the fact that high oil prices have sharply increased the cost of flying. Even at today's levels, oil is 60% more expensive than the average price in 2007."

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Under the new agreement, the 36 nonstop charter flights currently being operated between Taiwan and China Friday to Monday will be increased to 108 non-stop charters per week, available every day of the week. The number of destinations in China will also be increased from the current five to 21.

The new cross-strait routes will not require that the flights pass through the air space of a third location, such as Hong Kong, therefore the flying time between Taiwan and China will be significantly reduced.

For example, on the new routes, a flight between Taipei and Shanghai will take 81 minutes, while a Taipei-Beijing flight will take 166 minutes -- a reduction of more than one hour travel time.

Tinseth said it is hard to tell whether the aviation business between Taiwan and Hong Kong will be affected as a result, but he predicted that the Taipei-Shanghai route will become the most popular when the new service is launched.

Tinseth also said that airfares will have to be lowered to reflect the shorter distances on the new cross-strait routes.

Meanwhile, he predicted that the annual growth rate of the global commercial aviation industry, which was registered at 3.5 per cent in the January to August period, will fall below 3 per cent by the end of this year based on the economic downturn worldwide.

Nevertheless, Tinseth was optimistic about the outlook for the industry, saying that the global gross domestic product (GDP) will grow by 3.2 per cent each year for the next two decades, with the commercial aviation industry growing by 5.8 per cent annually.

The executive of the world's leading aircraft manufacturer also forecast a brighter future for the Asian market, saying that Asia's GDP will increase by 4.4 per cent, while its commercial aviation industry will grow by 6.8 per cent annually for the next 20 years.

(CNA)

"Such investments will create jobs and help construction and engineering businesses, small and large, immediately," said AAPA President/CEO Kurt Nagle. "These investments will also pay dividends in the mid- and longer-term by making the movement of goods more efficient, with less congestion and less air pollution and delivering economic prosperity throughout the country."

The full text of Mr. Nagle's testimony can be seen at http://tinyurl.com/6otguk, including a survey AAPA conducted earlier this month with its U.S. port authority members on the immediate needs for infrastructure projects that are planned, designed and permitted.

About AAPA

Founded in 1912, AAPA today represents 160 of the leading public port authorities in the United States, Canada, Latin America and the Caribbean. In addition, the Association represents more than 300 sustaining and associate members, firms and individuals with an interest in the seaports of the Western Hemisphere. AAPA port members are public entities mandated by law to serve public purposes. They facilitate waterborne commerce and contribute to local, regional and national economic growth. These ports are gateways to world trade and are critical components to their nation's economic health, national defense and growing cruise industry. In 2007, commercial seaport and marine cargo operations in the U.S. generated $3.2 trillion of total economic activity and provided jobs for 13.3 million Americans, whose earnings and consumption totaled nearly $650 billion.

~Seaports Deliver Prosperity~

    Contact:
    Aaron Ellis - 703-706-4714
    aellis@aapa-ports.org

SOURCE American Association of Port Authorities

http://aapa.files.cms-plus.com/PDFs/TestimonyandInfrastructureSurveyResults08.pdf

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Carmanah Technologies Corporation

"Roland Sartorius"

Roland Sartorius, Chief Financial Officer

This release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "expects," "plans," "estimates," "intends," "believes," "could," "might," "will" or variations of such words and phrases. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Carmanah to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties which are described under the caption "Note Regarding Forward-looking Statements" and "Key Information - Risk Factors" and elsewhere in Carmanah's Annual Report for the fiscal year ended December 31, 2007, as filed on SEDAR at www.sedar.com. The risk factors identified in Carmanah's Annual Report are not intended to represent a complete list of factors that could affect Carmanah. Accordingly, readers should not place undue reliance on forward-looking statements. Carmanah does not assume any obligation to update the forward-looking information contained in this press release.

No.2008-09 #24

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