All Business articles – Page 31
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News
Air Cargo Netherlands signs up with PayCargo
Dutch air cargo association Air Cargo Netherlands (ACN) has signed up with PayCargo’s encrypted online platform to help it simplify members' and delegates' payment transactions.PayCargo, which last year processed $4bn in transactions for logistics firms, has tailored its platform to support ACN’s needs.ACN is the only airfreight association in the ...
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NewsK+N records first airfreight volume increase in two years
Kuehne+Nagel (K+N) saw quarterly air cargo volumes increase for the first time in more than two years, while revenues and operating profits were also on the up.The Switzerland-headquartered freight forwarder recorded a 16% year-on-year increase in first-quarter airfreight volumes to 433,000 tonnes as the market bounced back from a pandemic-related ...
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Japan Post's sale of Toll Global Express 'painful'
Japan Post Holdings is expected to sell Toll Global Express at a loss as it looks to offload the troubled business.Earlier this week, Toll Group announced that it had entered into an agreement for the sale of its Global Express business to Australian private equity fund manager Allegro Funds.The Global ...
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ACL Airshop targets growth as acquisition by Alinda completes
Unit load device (ULD) company ACL Airshop has been acquired by infrastructure fund manager Alinda Capital Partners.ACL Airshop said the deal completed this month and details of the transaction were not disclosed.According to Steve Townes, president and chief executive at ACL Airshop, the acquisition will be of value to ACL ...
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NewsNippon Express opens Netherlands logistics hub
Nippon Express' Nijmegen hubNippon Express Nederland, the Netherlands-based subsiriary of Nippon Express Co., has openeed a logistics centre in Nijmegen, a city located in the southeastern province of Gelderland.The new facility, which covers an area of more than 200,000 sq m, will serve as a gateway for air and ocean ...
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DP DHL notes its strongest Q1 ebit in preliminary figures
Deutsche Post DHL's first quarter operating earnings reached record levels, according to preliminary results.Preliminary operating profit (ebit) for the first three months improved to around €1.9bn compared with €592m for the same period last year.The group said that the positive development of the group’s businesses seen in the fourth quarter ...
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NewsHow Jude Bricker transformed Sun Country, helped by cargo
Jude BrickerIn four short years, former Allegiant president Jude Bricker has taken the Midwest niche carrier from near-death to a stock market IPO, aided by a well-timed venture into cargo markets with Amazon, writes Pilar Wolfsteller in Air Cargo News sister title FlightGlobal.Minnesota can be excruciatingly cold in winter. The ...
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ASL borrows $125m as it continues its freighter fleet renewal
ASL Aviation Holdings has secured a $125m debt facility from Goldman Sachs that will be used as part of its fleet renewal programme.The aircraft operator's group chief financial officer Mark O’Kelly said the facility will be used through 2021 to partially finance ASL’s ongoing medium-haul fleet replacement programme.The deal comes ...
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China Airlines eyes continued growth in profitable cargo market
Some time around March 2020, while airlines around the world were coming to terms with the impact of the coronavirus pandemic, China Airlines put into action a swiftly crafted plan to stay afloat.The Taiwanese flag carrier realised it could tap into its strength in the cargo market, and so decided ...
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Transpac rates rise while supply chains brace for Ever Given impact
Air cargo rates on the transpacific trade lane picked up last week while capacity remains tight and supply chains brace for the impact of the Suez Canal blockage.The latest statistics from Baltic Exchange Air Freight Index (BAI) show that last week prices from Hong Kong to North America increased by ...
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NewsCLIVE: Air cargo recovery stalls in March but space remains tight
The recovery in air cargo demand appears to have stalled in March, according to the latest statistics from CLIVE Data Services.Figures from the data provider show that volumes in March declined by 3% compared with March 2019 (pre-Covid), while in February demand was down 1% on two years earlier.The early ...
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NewsSriLankan Airlines aims at cargo with first freighter
SriLankan Airlines is planning to add its first freighter aircraft to capitalise on growing international trade from the country.The airline told Air Cargo News that it will take delivery of its of its first freighter aircraft by the winter 2021/2022.The company could not at this stage confirm the make or ...
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NewsDB Schenker sees revenues and profits increase in 2020
DB Schenker saw revenues and profits increase last year despite air and ocean volumes both declining.The Germany-headquartered freighter forwarder recorded a 7.8% decline in airfreight volumes last year to 1.1m tonnes, while ocean demand was down 10.5% to just over 2m teu.However, revenues in 2020 increased by 3.4% year on ...
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Kerry Logistics looks ahead to SF deal as revenues rise
Kerry Logistics saw both adjusted profits and revenues increase last year and it is expecting its proposed deal with SF Holdings to drive further growth.The Hong Kong headquartered company saw revenues increase by 30% year on year to HK$53.4bn in 2020, while profit attributable to shareholders stood was down 23.6% ...
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NewsCebu Pacific finds a silver lining in cargo
Cebu Pacific Air continues to enjoy strong cargo yields amid a drop in domestic capacity that coincides with a sharp rise in e-commerce.“There’s a lot of cargo capacity that’s [disappeared], but the demand actually has continued,” said Alexander Lao, chief strategy officer at the low-cost carrier.“There are a lot more ...
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Strong Q3 for FedEx as it predicts ongoing freighter demand
FedEx saw revenues and profits rise in its fiscal third quarter results, while it also predicts ongoing bellyhold capacity shortages in air cargo.The express giant saw fiscal third-quarter revenues increase by 22.9% year on year to $21.5bn, operating profits improved 145.7% to $1bn and net income was up 64.7% to ...
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SIA expresses cautious optimism amid vaccine rollouts
Singapore Airlines (SIA) plans to steadily expand its network in the coming months, as it sees a gradual recovery stemming from global vaccination campaigns.In its February traffic data, cargo remained the brightspot: SIA enjoyed a cargo load factor of 94.6%, 35.9 percentage points higher than February 2029. Nonetheless, FTKs were ...
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NewsOngoing US ocean delays to keep air charter operations busy
Delays to container shipping supply chains in the US, which are resulting in increased air cargo charter flights, could continue into the summer, according to Tom Pelliccio, executive vice president international at freight forwarder Pilot Freight Services (PFS).Pelliccio said that ocean shipping services are currently facing delays of around five ...
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NewsSteady increase in cargo demand at Bahrain International Airport
Bahrain International Airport has reported an increase in cargo demand last year, bucking global air cargo trends for the year.In 2020, hub saw a 3.2% year on year increase in cargo volumes to 300,205 tonnes. Volumes have increased steadily, from 2015 to 2020, by 17%.BIA's increase in cargo volumes in ...
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NewsAgility's net profits and earnings hit by "challenging" 2020
Agility's logistics division last year saw revenues and operating profits improve, but the overall company was held back by its infrastructure division in a "challenging year".The company posted a 2.7% year-on-year climb in revenues to KD1.6bn, while earnings before interest, tax, depreciation and amortisation (ebitda) declined 15.9% to KD162.4m. Net ...