All Business articles – Page 33
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NewsWorldACD: Air cargo demand on the up in January
Air cargo demand in January matched the performance of a year ago — the first month since the start of the pandemic not showing a year-on-year decline.Figures from WorldACD show that while demand was flat compared with a year ago, airfreight rates increased by around 75% year on year, although ...
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Atlas Air 2020 results "exceed expectations" due to historic volumes
Atlas Air Worldwide said its full-year 2020 operating results "exceeded expectations", thanks to "historic volumes" driven by e-commerce growth, as well as the requirements of businesses and communities during the pandemic.In its full-year 2020 results, the freighter operator achieved a 17.2% year-on-year increase in revenues — from $2.7bn in 2019 ...
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NewsGerman airfreight market registers 22% decline in 2020
Last year, in the wake of the coronavirus pandemic, global airfreight traffic fell by 10.6% year on year, according to IATA; this is the biggest decline since records began in 1990.But how did the year go for market participants in Germany? How did the top 10 airfreight forwarders and airlines ...
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Plans for Turkish Cargo to become subsidiary company confirmed
Turkish Airlines has confirmed plans for its cargo business to become a wholly-owned subsidiary of the overall airline.In his welcome speech at the Cargo Talks webinar, Ilker Ayci, chairman of the board of directors and executive committee of Turkish Airlines, highlighted the growth of the airline's cargo business last year.Ayci ...
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Air Canada taking aim at seven B767 freighters
Air Canada is hoping to have seven freighters operating by the end of next year.Speaking as it announced its fourth quarter financial results, president and chief executive Calin Rovinescu said cargo will play an increasingly important role at the airline in the future.Executive vice president and chief commercial officer Lucie ...
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DSV back on the acquisition trail after strong 2020
DSV Panalpina saw its revenues and profits jump last year and is taking aim at another large acquisition following the integration of Panalpina.Last year, the Copenhagen-headquartered logistics firm saw its revenues increase by 22.4% year on year to Dkk115.9bn, earnings before interest and tax (ebit) before special items was up ...
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Heathrow and East Midlands apply for UK Freeport status
Heathrow Airport and an East Midlands consortium have applied for Freeport status in the UK.The government closed the application period for Freeport status on Friday, with 30 bidders thought to have submitted proposals.Companies using Freeports will be able to import goods without paying tariffs, process them into a final good ...
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SF Holding set to invest in Kerry Logistics?
China-based express firm SF Holding is considering investing $5bn in Kerry Logistics, according to Bloomberg.Unnamed sources told the newswire that the Shenzhen-listed firm will invest in a stake of around 20%.The news comes after shares in SF Holdings, which owns SF Express and SF Airlines, were suspended on Friday for ...
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Air cargo capacity expected to remain constrained
Air cargo capacity is expected to remain constrained for some time, resulting in forwarders increasingly relying on charter operations.In the latest Baltic Exchange airfreight rate newsletter, Bruce Chan, vice president of global logistics at investment bank Stifel, said that vaccination programmes were expected to lead to a pick-up in passenger ...
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Strong cargo demand helps Singapore Airlines cut Q3 loss
Singapore Airlines Group narrowed its third-quarter operating loss, as a stronger cargo performance helped offset revenue loss from the pandemic-led collapse in passenger travel demand.Releasing its financial results for the three months ending December 31, 2020, SIA Group reported an operating loss of S$331m ($248m). That compares with the S$449m ...
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NewsCLIVE: Air cargo load factors "exceptional" as unpredictable market continues
January saw air cargo load factors and rates pick up quickly after a post-Christmas slowdown in the first part of the year.The latest statistics from CLIVE Data Services show that in January, dynamic cargo load factors for the month stood at 66%, an increase of nine percentage points compared with ...
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HNA Group set for reorganisation after bankruptcy filing
HNA Group will undergo a business reorganisation after creditors filed for its bankruptcy.The group, one of China’s largest conglomerates with interests mainly in the aviation and tourism sectors, discloses that it received formal notice of the filing from the Hainan High People’s Court on January 29.Creditors have "filed an application ...
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JAS Worldwide pounces on Tigers
JAS Worldwide has swooped on freight forwarder Tigers as it looks to broaden its logistics services.The Italy-headquartered firm has signed a share purchase agreement with Geopost, the parcel division of French group La Poste, whereby JAS will acquire Tigers once all regulatory approvals are obtained from the relevant authorities.Tigers operates ...
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Hong Kong traders see Biden bounce for airfreight
Hong Kong traders are optimistic about the airfreight outlook, following the inauguration of Joe Biden as the US president, which might ease tensions between China and the US.That is the headline result of the latest DHL Hong Kong Air Trade Leading Index (DTI), a quarterly survey of more than 600 ...
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NewsRock-it and Sound Moves come together in perfect harmony
Live music logistics firms Rock-it and Sound Moves are combining their operations as they prepare for the live events to get back underway.The companies are both subsidiaries of Rock-it Cargo USA and the move will see the merger of offices, vendor networks and expertise.The move comes after a tough 12 ...
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Cargo helps stabilise Swissport in a difficult year
Ground handler Swissport saw its cargo volumes drop last year but the sector helped to stabilise the company.The handler said that its cargo volumes at its 115 warehouses declined by 12.3% year on year in 2020 to 4.1m tonnes. The number of flights handled dropped 59% to 1.7m and passenger ...
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NewsHandler dnata expands cargo operations at Manchester Airport
Cargo handler dnata has opened a new £30m cargo complex at Manchester Airport in the UK to expand and consolidate operations at the facility.The new dnata City North on-airport complex measures 150,000 sq ft and will have an annual capacity of 150,000 tonnes."It is equipped with the latest technologies and ...
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FedEx to cut jobs and integrate TNT air network in Europe
Express firm FedEx plans to cut jobs in Europe and combine air networks as part of the integration of TNT.The US logistics giant acquired TNT for €4.4bn in 2016 as part of its European expansion plans and has been integrating IT systems and air, road and ground networks since then.The ...
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UK-Europe air charter Brexit flights begin to pick up
Air cargo demand between Europe and the UK is starting to pick up as some truckers have put the breaks on services and additional paperwork is creating hold ups.Many had been worried that queues of trucks could form at Dover-Calais border as companies adjusted to new paperwork requirements as result ...
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FedEx confirms acquisition of B777F from Etihad
FedEx Express has confirmed the recent acquisition of a Boeing 777 freighter aircraft from Etihad, as it continues its fleet modernisation.Manager of FedEx communications Jonathan Lyons said the aircraft will go into operation later this year.As of November 30 last year, the express giant had 46 B777 freighters in its ...