All Business articles – Page 2
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NewsDutch air cargo group hits out at Schiphol price increases
Image: ShutterstockAir Cargo Netherlands has warned that Schiphol Airport's plans to increase rates next year will disproportionally impact freighter airlines.The Dutch airport last week announced that it would increase airline charges by 37% over the coming three years in response to high inflation and increased interest rates.The charges will increase ...
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NewsCharter demand boosts Cargojet's performance in Q3
Demand for charter operations helped boost revenues for Canada-based freighter operator Cargojet in the third quarter of the year.The company reported a 14.8% increase in overall revenues to C$245.6m for the third quarter, with ACMI revenues up 12% to C$70.2m, domestic network up 5.2% to C$97.3m and all-in charter revenues ...
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NewsDHL Global Forwarding sees Q3 airfreight revenues rise but profits under pressure
DHL Group CEO Tobias Meyer. Photo: DHL GroupDHL Global Forwarding saw its air cargo volumes and revenues rise in the third quarter led by trades out of Asia but gross profits came under pressure due to rising rates.The forwarding business registered an 8.5% increase in air cargo volumes to 445,000 ...
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NewsATSG to be acquired for $3.1bn
Photo: Number1411/ ShutterstockInvestment firm Stonepeak is set to acquire US freighter lessor and operator Air Transport Services Group (ATSG) for $3.1bn.The two businesses have entered into a definitive agreement, which has been unanimously approved by ATSG’s board of directors.Upon completion of the transaction, ATSG's shares will no longer trade on ...
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NewsSpeedX acquires Accelerated Global Solutions
Chris Zheng. Photo: SpeedXTech-enabled last mile delivery platform SpeedX has delved into airfreight with the acquisition of freight forwarder Accelerated Global Solutions (AGS).AGS brings a range of services to SpeedX, including international air and ocean freight forwarding, warehousing solutions and licensed customs brokerage.With over 300 employees, AGS serves the fast ...
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NewsAir Canada reports 18% cargo revenue growth in Q3
Photo: Air CanadaAir Canada saw 18% year on year cargo revenue growth in the third quarter of 2024, primarily due to thriving belly cargo in the Pacific market.Revenues reached C$253m during the quarter ended September 30, up from C$215m during the third quarter of 2023, said the Montreal-headquartered airline.In its ...
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NewsGlobal K9 acquires Dog Detectives
From left to right: Major Ali Aljeeran, head of Bahrain customs K9 unit; Andrew Jones, director; and major Hamad Alnaham, head of search and investigation section. Photo: Dog DetectivesUS air cargo screening business Global K9 Protection Group (GK9PG) has acquired UK-based canine screening provider, Dog Detectives.The acquisition represents GK9PG’s first ...
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NewsAir cargo demand up again in September but growth narrows
Source: Jaromir Chalabala/ShutterstockAir cargo demand continued to increase at a high level in September, although year-on-year improvements narrowed slightly compared with the last nine months.The latest figures from IATA show that air cargo demand in cargo tonne km terms increased by 9.4% year on year in September. Capacity was up ...
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NewsXeneta: Market maturity harnesses air cargo rates
Photo: Travel mania/ ShutterstockThe air cargo market has matured enough to enable airlines and forwarders to keep rates reasonable against a backdrop of strong demand exacerbated by supply disruptions.While a thriving air cargo market usually results in shippers facing rocketing spot rates during the fourth quarter peak, this year lessons ...
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NewsVanderlande acquires Siemens Logistics
Photo: Jaromir Chalabala/ ShutterstockDutch logistics equipment company Vanderlande has signed an agreement to acquire Siemens Logistics from German technology company Siemens.Vanderlande's acquisition of Siemens Logistics, which provides baggage and cargo handling as well as digital solutions for the airport operation of the future, is anticipated to strengthen its position within ...
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NewsMixed performance for Hong Kong air cargo rates in October
Credit: tratong/ ShutterstockAirfreight rates on the transpacific trade were on the slide in October but increased as the month progressed, while prices to Europe continued to improve.The latest figures from the Baltic Exchange Airfreight Index (BAI) calculated by TAC Index show that average rates – both spot and contract – ...
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NewsLufthansa Cargo sees profits improve in Q3
Source: Lufthansa CargoLufthansa's logistics division reported rising revenues and operating profits in the third quarter of the year as capacity was added and yields were on the up.The division, which includes Lufthansa Cargo, time:matters, Jettainer, HeyWorld and a 50% stake in AeroLogic, saw third-quarter revenues increase 16% year on year ...
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NewsScan Global Logistics adds Ireland presence
Source: SGLFreight forwarder Scan Global Logistics (SGL) has continued its ongoing expansion with the opening of its first office in Ireland.The Denmark-headquartered forwarder said the new Dublin office would help strengthen its presence on the transatlantic trade lane."Ireland is a key market for us. Its proximity to major trade lanes ...
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NewsUPS profits and revenues improve in Q3
Source: UPSUPS registered improvements in its revenues, operating profits and net profits in the third quarter of the year as volumes returned to growth.The express giant saw its revenues for the third quarter increase 5.6% year on year to $22.2bn, while operating profits were up 47.8% to $2bn and net ...
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NewsShippers told to delay air cargo tenders until after peak season turmoil
Photo: ShutterstockAir cargo shippers have been told they should delay their 2025 tenders until after what is expected to be a tumultuous peak season.In a series of recommendations on how to manage current market conditions, Xeneta chief airfreight officer Niall van de Wouw said companies should make sure terms and ...
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NewsAirfreight rates stay strong despite Golden Week demand drop
Source: Supakitswn/ shutterstock.comAirfreight spot rates on global basis edged up in the first week of October to their highest level of the year despite volumes out of Asia declining due to the Golden Week holiday, according to WorldACD.Statistics from the data analyst show that airfreight spot rates increased by 1% ...
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NewsDSV raises €5bn to part fund Schenker acquisition
DSV has raised €5bn through a share sale to help fund its €14.3bn purchase of DB Schenker.The "oversubscribed" offering was made to institutional investors in Denmark and internationally at market price and without pre-emption rights to DSV’s existing shareholders."The proceeds from the offering will be used to partly finance the ...
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Kales expands in Turkey with acquisition of ACT
GSSA Kales Group has acquired Turkey-based ACT Global as part of efforts to expand its presence in the country.Kales said that the acquisition of ACT comes as demand out of the country is on the rise and added that the move will also support a wider global expansion.The company provides ...
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NewsDeutsche Bahn approves sale of DB Schenker to DSV
Deutsche Bahn has approved the sale of its freight forwarding business DB Schenker to transport and logistics group and fellow forwarder DSV. Denmark-based DSV confirmed last month that it had agreed to buy Germany headquartered DB Schenker from state-owned railway firm Deutsch Bahn for €14.3bn, but the deal still needed ...
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Union to vote against DSV's proposed take over of DB Schenker
Railway and transport union EVG is reportedly planning to vote against the sale of forwarder DB Schenker to DSV later this week.On Wednesday, the supervisory board of Schenker parent Deutsche Bahn is due to meet to vote on DSV's proposed €14.3bn deal to acquire the forwarder.However, publication Frankfurter Allgemeine Zeitung ...