All Business articles – Page 36
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NewsAllport to rebrand as EV Cargo Global Forwarding
Clyde Buntrock: Stuart Walker Photography 2020Allport Cargo Services will re-brand as EV Cargo Global Forwarding as part of brand consolidation efforts by its owner.As one of five business divisions within logistics and technology business EV Cargo, the forwarder will continue to offer international supply chain services, with investments ...
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Air France KLM sees cargo revenues improve despite volume decline
The Air France KLM Group (AFKLMP) continued to see an improvement in cargo revenues during the third quarter despite a decline in volumes.The airline group registered 31.7% year-on-year increase in cargo revenues during the quarter, while cargo volumes dropped 20% compared with last year to 220,000 tons.As a result of ...
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ATSG freighter deployments boost Q3 revenues and profits
Freighter lessor and operator ATSG saw revenues and profits increase in the third quarter of this year, partly due to its quarterly record of seven Boeing 767 freighter deployments to its leasing customers.In the third quarter of this year, the Wilmington-headquartered company reported a 10% year-on-year increase in revenues to ...
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Asian volumes boost UPS in Q3
Strong outbound demand from Asia helped fuel a 15.9% increase in third quarter 2020 consolidated revenues for UPS to $21.2bn.The US-headquartered global parcels and logistics giant saw third-quarter consolidated average daily volume increase 13.5% year over year, while operating profit was $2.4bn, up 11% compared to last year’s third quarter.Said ...
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NewsDSV targets e-commerce with Prime deal while air cargo improves in Q3
DSV Panalpina has acquired e-commerce specialist forwarder Prime Cargo, while it has also announced continued growth in its airfreight business in the third quarter.The Denmark-headquartered forwarder has agreed to purchase Prime Cargo, including its activities in Denmark, Poland and China, from the Mitsui-Soko Group in Japan for an undisclosed sum.Prime ...
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NewsForwarder LILA looks to the horizon after PPE win
Ian Antonio, LILA managing directorUK-based freight forwarder LILA International Logistics is aiming to expand next year after a success 2020.The start-up forwarder was launched in 2018 and is currently a team of four but hopes to expand numbers next year and move to larger offices after bringing on PPE provider ...
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Air cargo demand continued to rally in September
Air cargo demand continued its gradual recovery in September with figures heading back towards year-ago levels, according to data from WorldACD.Figures from the data provider show that demand in September was down 12.5% year on year, which brings "some reason for optimism". This compares with a 33% decline in demand ...
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NewsTIACA calls for an end to 'misleading' weight-based load factor
TIACA is calling for the air cargo industry to adopt the dynamic load factor developed by CLIVE Data Services over the "misleading" traditional weight-based system.The dynamic load factor methodology measures how full an aircraft is by considering both freight volume and weight, rather than just weight, as aircraft often reach ...
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US cargo carriers quizzed on PSP funds
Four US cargo carriers have been asked to hand back or demonstrate that they needed more than $630m in Covid-19 support funding as part of the Payroll Support Program (PSP).James Clyburn, chairman of the select subcommittee on the coronavirus crisis, sent letters to Atlas Air, Kalitta Air, Western Global Airlines ...
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Copenhagen Airport relies on preighter capacity to develop as "airfreight gateway to Scandinavia"
Copenhagen Airport (CPH) has revealed that continuous 'preighter' operations have helped it to establish itself as an "airfreight gateway to Scandanavia" after the bulk of it cargo capacity — bellyhold — was cut at the onset of the pandemic."Looking back to February this year, the majority of airfreight in and ...
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Dnata enters Indonesian market with new partnership
Ground handler dnata has expanded its footprint in the Asia-Pacific region and entered the Indonesian market through a partnership with PT UNEX Rajawali Indonesia (UNEX).The handler is based at Soekarno-Hatta International Airport (CGK) and offers ground handling and cargo warehousing services.The partnership will see dnata and UNEX make joint investments ...
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NewsK+N reports improved airfreight market in Q3
Kuehne+Nagel's airfreight operating profits and revenues were up in the third quarter of the year on the back of improved market and despite a decline in volumes.The Switzerland-headquartered forwarder saw third-quarter air cargo revenues increase by 8.7% year on year to Sfr1.2bn, gross profits were down 4.3% to SFr315m and ...
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United Airlines reports $1.8bn Q3 loss as revenue falls 78%
United Airlines reported a $1.8bn loss for the third quarter as it restructured its operations to reflect lower demand following the near-collapse of the passenger aviation industry earlier this year.The Chicago-based carrier says on October 14 that it had reduced its capacity by 70% during the recently completed quarter, resulting ...
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NewsDHL Express plans Israel-UAE freighter flights
Yair Bitton, chief executive of DHL Express IsraelFollowing the recent negotiation of a peace agreement between Israel and the UAE, DHL Express has completed its first shipment from Israel to the UAE and has plans to launch flights between the two countries.After receiving official approval to initiate trade, Yair Biton ...
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DP DHL records "strong business development" in preliminary Q3 results
Deutsche Post DHL has managed to achieve an increase in earnings before interest and tax (ebit) during the third quarter of this year and recorded "strong business development" ahead of its shift in focus to 'peak season'.Chief executive Frank Appel said in the company's preliminary third-quarter financial results: “We are ...
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John Menzies looks to expand in cargo despite volume decline
Ground handler John Menzies saw its cargo volumes decline in the first half of the year but is looking to expand in the sector.The company reported a "resilient" performance in its cargo business as volumes dropped by 22% year on year as a result of reduced bellyhold operations due to ...
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Qatar Airways lands QR7.3bn state injection after heavy pre-crisis loss
Qatar Airways Group has turned in a pre-tax loss of QR6.96bn ($1.9bn) and a net loss of just over QR7bn, for a financial year that concluded before the airline industry felt the broad impact of the coronavirus crisis.The Doha-based carrier says that, at the end of the fiscal year on ...
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Volga-Dnepr Group notes 'stable' first-half results
Volga-Dnepr Group, which is in its 30th year of operations, said it has performed with "stability and consistency" in the first half of this year.Total revenue across the Group's three airlines (Volga-Dnepr Airlines, AirBridgeCargo Airlines and ATRAN Airlines), was up by more than 40% year on year, which was achieved ...
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E-commerce demand fuels FedEx revenues as it prepares for Covid vaccine
FedEx saw its revenues and profits improve in its fiscal first quarter as a surge in e-commerce demand propelled performance.The express giant saw revenues for the three months ended August 31 increase by 13.5% year on year to $19.3bn, while net income was up 67.8% to $1.2bn and operating income ...
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Cathay to park 40% of fleet in long-term storage overseas
Beleaguered Cathay Pacific will move about 40% of its fleet to long-term storage locations overseas, as it adjusts downwards its forecasted capacity for the coming months.In its monthly traffic results for August, Cathay confirmed that it is parking a significant number of aircraft overseas, given that it “will be operating ...