All Business articles – Page 44
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News
China airfreight rates spike while Cathay mulls cargo only PAX flights
Airfreight rates from China increased rapidly last week as demand from China begins to ramp up but spare capacity remains tight.The latest figures from TAC Index show that last week average airfreight prices from Shanghai to North America increased by 32.3% on a week earlier to $4.02 per kg, while ...
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CLIVE to provide airfreight data to TIACA in new partnership
TIACA has signed an memorandum of understanding (MOU) with CLIVE Data Services to create and deliver air cargo market and route analyses to TIACA members.CLIVE, the creator of the new ‘dynamic load factor’ analysis, strives to give the earliest possible barometer of market analysis based on cargo data – volume ...
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NewsMenzies Aviation hires new Americas CFO
Menzies Aviation has named Jennifer Gourley as its new chief financial officer, Americas, effective from March 16.Reporting to executive vice president John Redmond, Gourley will be based in Dallas-Fort Worth and will oversee the financial activities for the Americas region, where Menzies has operations at 115 airports in seven countries.Prior ...
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NewsForwarder Delmar expands US presence with Rotra acquisition
Canadian freight forwarder Delmar International has announced the acquisition of Rotra, LLC and Rotra Brokerage Services, Inc.Delmar said the transaction significantly raises the capabilities and size its US footprint and workforce, which now exceeds 200 employees and operates from coast to coast with seven branches throughout the country.Established in 1984, ...
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Etihad Cargo sees volumes and revenues fall in 2019
Etihad Cargo saw both cargo volumes and revenues fall in 2019 as a result of fleet rationalisation programme and a weak market.The Abu Dhabi headquartered carrier saw 2019 cargo volumes fall by 6.9% year on year to 635,000 tonnes, while total revenues fell by 15.7% year on year to $700m,This ...
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NewsAirfreight rate data points to China demand surge ahead
Intra-Asia airfreight rate data could indicate a surge in cargo from China over the coming weeks.The latest figures from TAC Index show that airfreight rates on services between China and Singapore, and from China to Korea dramatically spiked over the last few weeks.Prices from Singapore to China reached just over ...
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Emirates SkyCargo signs up for Accuity compliance solution
Emirates SkyCargo has teamed up with compliance solutions provider Accuity to help automate and streamline its regulatory compliance screening operations, increase efficiency and improve the speed of service to its customers.Emirates Sky Cargo has implemented Accuity's Firco Trade Compliance, an Accuity solution that screens shipment documentation (such as airway bills) ...
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News
ATSG reports record revenues but profits slide
Freighter lessor and operator ATSG saw revenues climb to record levels last year but profits declined.The Wilmington-headquartered company reported revenues for the year of $1.4bn compared with $892m last year, while earnings from continuing operations declined by 18.2% to $71.6m and net earnings declined by 11.7% to $61m.The company said ...
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NewsBreaking news: IATA postpones World Cargo Symposium
IATA has postponed this year's World Cargo Symposium as a result of coronavirus-related cancellations.The three-day event has become the largest annual event in the air cargo calendar, attracting more than 1,000 attendees and 40 exhibitors.The show had been due to take place next week in Istanbul, but the airline association ...
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IATA calls for suspension of airport slot rules
IATA has called for airport slot rules to be suspended immediately and for the 2020 season in response to the coronavirus.The airline group said that it is contacting aviation regulators worldwide to request suspension of rules governing use of airport slots.At present, the rules for slot allocation mean that airlines ...
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News
WorldACD: January figures reflect impact of Chinese New Year
WorldACD has confirmed expectations "that the year on year figures for January would be negative".In its latest report, the analyst notes that chargeable air cargo weight dipped by 5.8% in January year on year and it suggests that the timing of Chinese New Year, which took place at the end ...
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IAG Cargo: Decline in revenues reflects market conditions
IAG Cargo has reported a 7.2% year-on-year decrease in revenues in its full-year results for 2019.From January 1 to December 31 last year, the carrier listed revenues of €1,117 m.IAG Cargo also reported a 2.4% decrease in volumes and a 1% increase in capacity. Meanwhile, the company's yield last year ...
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NewsDrewry Index: Dip in rates reflects impact of coronavirus
Airfreight rates continued to slide in January, declining 5% from December and 11% from a year earlier.The latest Drewry East-West Airfreight Price Index report shows that prices dipped $0.16 in January 2020 to $2.59 per kg, down from $2.74 in December. The January 2020 rate compares with $2.91 per kg ...
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News
CargoLogicAir confirms suspension of services as China crisis takes its toll
UK freighter operator CargoLogicAir (CLA) has confirmed to Air Cargo News that it has suspended operations as its exposure to China took its toll.In a short statement, the B747 operator – and the UK's only maindeck freighter operator – said that "due to the latest market development, specifically the drastic ...
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NewsB&H Worldwide expands Melbourne facility
Specialist aerospace logistics provider B&H Worldwide, has expanded its warehouse and offices in Melbourne, Australia to cater for growing demand from its Oceania customers.Colin Kattner, head of operations, Oceania, said the specialist teams at the facility will now be able store, handle and process an ever-expanding number of customers' aerospace ...
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Kuehne + Nagel highlights "stable" 2019 airfreight results
Kuehne + Nagel (K+N) has released its full-year results for 2019.The Group overall saw its net turnover increase by 1.5% to CHF21.1bn in 2019. The business grew its gross profit by 3.5% from CHF7.7bn in 2018 to CHF8bn in 2019.Meanwhile, earnings before interest and tax (ebit) increased by 7.5% to ...
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DSV Panalpina confirms thousands of jobs to go as integration continues
Freight forwarder DSV has confirmed to Air Cargo News reports that suggest thousands of jobs will be cut as a result of the integration of Panalpina.A spokesperson confirmed a Wall Street Journal article that stated headcount would be reduced by between 3,000 to 4,000 during the integration of the two ...
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Atlas Air parks up B747Fs as market conditions take their toll
Atlas Air has parked four of its B747-400 converted freighters and plans to reduce the use of more widebody aircraft as it reports a loss for 2019.The aircraft lessor’s full-year results show a net loss of $293.1m, while revenues rose slightly to $2.7bn from $2.6bn a year earlier.The company said ...
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Bloomberg: HNA airline assets could be put up for sale
Reports suggest China could be about to take over troubled conglomerate HNA and sell off its airline assets.Bloomberg yesterday reported that the government of Hainan, where the company is based, is in talks to "seize control" of HNA.Quoting sources, the news wire said that the majority of airline assets would ...
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NewsAir France KLM cargo revenues take a hit in 2019
The Air France KLM group saw its cargo revenues drop last year as market overcapacity took its toll on performance.The Franco-Dutch airline group saw total cargo revenues for the year drop by 5.9% to €2.1bn on the back of a 2.3% drop in volumes to 1.1m tonnes.Its cargo load factor ...