All Business articles – Page 45
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News
Qatar Airways lifts IAG stake to 25%
Qatar Airways has increased its shareholding in British Airways and Iberia parent IAG from 21.4% to 25.1%.The Doha-based carrier initially took a stake in IAG at the start of 2015, before increasing it to just over a 20% in 2016.“Our investment to date has been highly successful and the announced ...
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Cathay Pacific under pressure as cargo volumes fall
Cathay Pacific saw its cargo volumes decline in January, while it also warned that financial results will come under pressure.The airline group handled cargo volumes of 151,964 tonnes in January, which represents a decline of 8.9% year on year.Meanwhile, the cargo load factor for the month was down by 1.4 ...
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Cool Chain Association and Cargo iQ launch new initiative
The Cool Chain Association (CCA) has teamed up with Cargo iQ to launch a new initiative, Care Mapping Project, for temperature-controlled supply chains.The new Cargo iQ pilot programme aims to develop tools and standards for planning and control, as well as for the evaluation of conditions under which shipments move.The ...
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BBAM orders three converted Boeing 737-800Fs
San Francisco-based aircraft lease company BBAM has ordered three 737-800 Boeing converted freighters (BCF) to add to its fleet.The 737-800BCF, which has a payload of up to 23.9 tonnes, is built using the next-generation 737 platform "known for its reliability and efficiency", said Boeing in a statement.Boeing also revealed that ...
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LATAM Cargo expands Americas capacity with two new routes
LATAM Cargo has expanded its network with two new routes to increase its capacity in Central and Latin America.From February 11, the carrier will operate twice-weekly Miami-Panama-Bogota and Miami-Cali routes utilising B767-300F aircraft.The new services will serve the demand for general cargo, electronics, pharma and dangerous goods being transported in ...
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DSV Panalpina opens new Canada base
Danish-owned freight forwarder DSV has opened a new Canadian head office and logistics facility near Toronto.The new facility is located in the suburb of Milton, 20 miles (30km) from Pearson International Airport and close to Canada’s busiest highway (401).DSV Panalpina says the 1.1 million sq ft (100,000 sqm) facility is ...
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Coronavirus clouds airfreight outlook
The coronavirus is beginning to affect airfreight prices in Asia, derivatives broker Freight Investor Services (FIS) has reported.However, the FIS added that the outbreak is leading to severe reductions in airfreight volume from Asia due to quarantine measures, which has in itself limited the amount of available data – and ...
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UPS reaches deal with pilots
The Independent Pilots Association (IPA) has reached tentative agreement with UPS Airlines on a new two-year contract extension.The short term agreement provides for improvements in compensation and retirement but specific details of the agreement will not be disclosed before the union presents it to all UPS pilots.IPA president Captain Robert ...
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US and Kenya extend cargo traffic rights
The US and Kenya have signed an amendment to their existing Air Transport Agreement adding seventh-freedom rights for all-cargo flights.The agreement was signed at the US Department of State in Washington by Kenyan transport secretary James Macharia and US assistant secretary for economic and business affairs Manisha Singh.Seventh freedom, sometimes ...
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Reports re-emerge suggesting Swissport is up for sale
Reports have re-emerged suggesting that cargo handler Swissport is up for sale.Reuters reports that the handler's owner, China-based conglomerate HNA, is looking to offload Swissport at a discount in order to raise cash and cut debts.It is suggested that buyout firms Apollo Global Management and Cerberus, and asset manage Brookfield ...
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NewsDSV Panalpina registers improved airfreight volumes but margins in focus
DSV saw airfreight revenues and volumes improve last year thanks to its acquisition of Panalpina in August, but margins came under pressure.In 2019, the combined DSV Panalpina Group saw total revenues increase 19.8% year on year to DKr94.7bn, earnings before interest and tax (ebit) improved by 22.1% to Dkr6.6bn but ...
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Swiss WorldCargo expands Japanese network with Osaka route
Swiss WorldCargo, the airfreight division of Swiss International, is adding Osaka, Japan, as a destination in its global network.From March 1, the carrier will operate an Airbus A340-300 service from Zurich to Osaka. The new route adds to its daily Zurich—Tokyo service, carried out by a Boeing 777-300 since February ...
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Aero Africa announces new chief commercial officer
Aviation logistics provider Aero Africa has named Jade Da Costa as its new chief commercial officer.South Africa-born Da Costa has more than 30 years of experience in the freight forwarding and aviation industry, and has extensive knowledge of the African market.Previously, Da Costa was group director at freight forwarder Intraspeed ...
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NewsAirfreight rates reduction reflects peak season close
Airfreight rates slid in December following a rise in November, reflecting a decline in demand as peak season came to a close.The latest East-West airfreight price index from consultant Drewry’s Sea and Air Shipper Insight report showed that prices reached $2.74 per kg in December last year, down from $3.02 ...
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UPS Q4 revenues boosted by Amazon gains
UPS saw fourth-quarter revenues soar on the back of Amazon volume growth, but pensions charges pushed the company to a loss.The express giant reported a 3.6% year-on-year increase in revenues for its fiscal fourth quarter to $20.6bn, operating profit was up by 6.4% to $2.1bn but it reported a $106m ...
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Former air cargo executive pleads guilty in US cargo cartel case
Maria Christina Ullings, the former senior vice president of cargo sales and marketing for Martinair Cargo, has been jailed in the US after pleading guilty for her alleged role in the cargo price-fixing cartel that ran from around 2001 to 2006.According to the US Department of Justice (DoJ), Ullings was ...
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Leipzig/Halle bucks the trend with fifteenth year of cargo growth
Leipzig/Halle Airport has increased its cargo volumes for the fifteenth consecutive year and more than tenfold since 2007.In 2019, Europe’s fifth-largest and Germany's second-largest air cargo hub handled 1.2m tonnes, representing a year-on-year growth of 1.4%.Overall, airports in Europe are expected to record a decline in cargo volumes last year.In ...
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Cargolux and Atlas Air predict a subdued airfreight market in 2020
The cargo freight market is likely to remain weak this year, industry leaders believe, as it remains hampered by overcapacity and weak growth in several regions around the world.“We see 2020 not improving significantly… There will be some capacity coming out of the market, so there is some balance coming, ...
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NewsPeli BioThermal extends reach in Australia
Temperature-controlled packaging business Peli BioThermal has announced that Wilpak Group International will provide sales and support from its headquarters in Melbourne, Australia.Effective immediately, this change in operations is part of Peli BioThermal's expansion into Australia and New Zealand, as well as the expansion of the global partnership between Peli BioThermal ...
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Logistics industry continues to view US-China trade war as biggest threat
The logistics industry continues to see the trade war between the US and China as the biggest threat to global economic growth, despite the two countries recently signing phase one of a trade agreement.A survey of 330 logistics and supply chain professionals, carried out by logistics firm Agility and consultancy ...