All Business articles – Page 39
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News
Virgin Atlantic finalises $1.5bn refinancing and aims for profit in 2022
Virgin Atlantic has finalised a $1.5bn (£1.2bn) refinancing package over the next 18 months, which the UK-based carrier says marks a “major milestone” in securing its future and under which it is aims to return to profit from 2022.The restructuring plan is based on a five-year business strategy and is ...
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NewsSenator International expands US freighter operations
Hamburg-headquartered logistics firm Senator International has expanded its Senator Atlantic Bridge (SAB) by adding Chicago Rockford International Airport (RFD) as a destination to its network.Senator will operate a Boeing 747-400 BCF service from Frankfurt-Hahn Airport (HHN) to RFD once a week.The company said in a statement: "The new destination provides ...
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NewsRFS firms see spike in demand with bellyhold operations grounded
Road Feeder Service (RFS) providers have reported a spike in demand during the coronavirus outbreak as a result of the grounding of passenger operations and subsequent loss of bellyhold capacity.Luxembourg-based Wallenborn's commercial director, Jason Breakwell, told Air Cargo News that the pandemic resulted in the company’s trucks travelling 19% more ...
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NewsNeutral Air Partner launches Perishable Logistics Network
Christos Spyrou, chief executive of Neutral Air PartnerFreight networking group Neutral Air Partner (NAP) has teamed up with UK-based Peter Shepherd Consultancy to launch Perishable Logistics Network (PLN).Perishable-focused PLN aims to assist small- and medium-sized enterprises (SMEs) in the perishable and cold chain logistics sectors, to compete both in service ...
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News
DP DHL reports "significantly increased earnings" in Q2 2020
Deutsche Post DHL Group experienced "significantly increased earnings" in the second quarter of 2020, despite global disruption caused by the global Covid-19 pandemic.The logistics giant saw its operating profit (ebit) increase by 16%, from €769m in 2019 to €890m this year."This number includes the already expected negative impact of around ...
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NewsShanghai airfreight rate declines show signs of slowing
Airfreight rate declines out of Shanghai have shown signs of stabilising over the last week.The latest figures from TAC Index show that prices from Shanghai to North America last week declined by 4.3% compared with the previous week to $4.50 per kg.From Shanghai to Europe prices slipped by 2.4% week ...
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Pilot expands in US and Mexico with acquisitions
Logistics and transportation provider Pilot Freight Services (Pilot) has expanded its presence in the US Midwest and along the US-Mexico border with the acquisition of five franchise stations.The integration took place on July 1 with no disruption to Pilot's service offerings.The acquired franchise stations offer solutions for the automotive, healthcare, ...
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NewsCLIVE: Airfreight industry is slowly getting back on its feet
Airfreight market analyst CLIVE Data Services has said the industry is "slowly getting back up on its feet" after reporting that volumes in June this year were 6% higher than in May."As personal protective equipment (PPE) volumes faded, global air cargo volumes in June provided the first real indicators of ...
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News
DHL Express set to carry out 'reduced CO2 emissions' flight from Leipzig/Halle to NYC
DHL Express is preparing to carry out a demonstration flight on July 1 from its hub at Leipzig/Halle Airport to JFK International Airport in New York City.The purpose of the flight — which will be carried out under "real operating conditions" with an Airbus A330-200F loaded with 60 tonnes of ...
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News
Lufthansa shareholders confirm bailout approval
Lufthansa shareholders have approved a €9bn ($10.1bn) financial rescue from Germany’s economic stabilisation fund (WSF) at an extraordinary general meeting today.The vote in favour of the financial package was expected after the airline’s biggest shareholder Heinz-Hermann Thiele indicated he would support the deal.Under the financial plan the WSF will make ...
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NewsDachser announces Robert Erni as new CFO
Robert Erni will become CFO at Dachser on January 1, 20201Dachser has announced that Robert Erni will become chief financial officer (CFO), succeeding Buckhard Eling, effective January 1, 2021.Erni, who will begin at Dachser as deputy director from September 1, previously held the role of CFO at Panalpina.Prior to Panalpina, ...
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NewsDeclining rates add to pressure on cargo-only PAX flights
Freight rates out of China continued their return to normal seasonal levels last week, putting further pressure on the use of passenger-freighter flights.The latest figures from TAC Index show that average rates from Shanghai to Europe last week declined by 30.8% week on week to $3.70 per kg. Prices are ...
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NewsGebrüder Weiss launches Australia and New Zealand sites
Transport and logistics firm Gebrüder Weiss is launching new locations for its Air & Sea division in Australia and New Zealand.The company's new Sydney, Melbourne and Auckland facilities are part of its "global strategy to develop new markets".Gebrüder Weiss said the new sites are an "essential addition" within the region ...
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NewsLufthansa Cargo to outsource Frankfurt general cargo handling to Fiege
Image: Lufthansa Cargo Center (LCC) at Frankfurt AirportLufthansa Cargo is set to withdraw from operational control of the general cargo handling business at the Lufthansa Cargo Center (LCC) at Frankfurt Airport as of 1 July, according to Air Cargo News sister title DVZ.Several people familiar with the matter told the ...
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NewsGuarded optimism as air cargo volumes improve in May
WorldACD May 2020 figuresThe air cargo market showed some signs of improvement in May although a full rebound is not expected soon, according to analyst WorldACD.The analyst said that worldwide, chargeable weight carried by air, decreased by 29% compared with May 2019, which is an improvement on the 34% drop ...
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News
PayCargo Capital offers credit for fresh produce supply chains
PayCargo Capital, a sister company of the global online payment platform PayCargo, is offering businesses in the fresh produce supply chain credit of $50,000 to $2.5m for a 15 to 45-day period.Under the facility, PayCargo Capital pays all freight charges up front, reclaiming the appropriate funds electronically from the PayCargo ...
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NewsChapman Freeborn swoops on Arcus as it targets time critical sector
Gediminas Ziemelis, chair of the board, Avia Solutions GroupCharter broker Chapman Freeborn will acquire Arcus Air Logistics and Arcus Air OBC (on-board courier) from the Arcus Air Group as it targets the time critical logistics sector.Arcus offers air cargo charter and on-board courier services primarily to the automotive industry and ...
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News
LATAM Airlines Argentina to cease domestic cargo operations
LATAM Airlines Argentina will cease cargo and passenger operations for an indefinite period as difficult market conditions take their toll.The move will result in the cancellation of 12 domestic destinations while international services operated to and from Argentina by the overall LATAM Cargo group will remain active "according to their ...
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News
SIA Cargo notes reliance on cargo-only PAX flights for performance in May
Singapore-based SIA Cargo has reported in its results for May 2020 that cargo load factor (CLF) was 14.4 percentage points higher than last year, due to the capacity decline (61.9%) outpacing the decline (of 52.8%) in cargo traffic measured in freight tonne km."Capacity contraction would have been much greater, save ...
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NewsCargo the bright spot for airlines as revenues expected to soar
Air cargo is expected to be the "bright spot" for airlines in 2020 as revenues are forecast to hit near-record levels, according to the latest IATA market outlook.The airline association said that cargo volumes will decline by 16.8% this year to 51m tonnes, but a severe shortage in cargo capacity ...