All Business articles – Page 47
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News
Bain-Titan $1bn JV reflects a changing airfreight market
The joint venture between Bain Capital and Titan Aviation announced at the end of last year is expected to take aim at the e-commerce market and also reflects a changing air cargo market, according to one consultant.The joint venture deal will see Bain invest $360m of equity in the project ...
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NewsOn-Time Performance Review: Most punctual airlines and airports revealed
Analytics firm Cirium has ranked the world’s most on-time airlines and airports by size and region in its 11th annual On-Time Performance Review using data generated from its reporting and tracking tools.In Cirium's review, Russian airline Aeroflot is named as the world's most on-time global mainline airline (a carrier without ...
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News
Elanders and Dimerco form air and sea freight forwarding joint venture
Taiwan-based global transportation and logistics specialist Dimerco has formed a joint venture with Elanders.As part of the joint venture, Dimerco has acquired 25% of Elanders’ subsidiary: ITG Air & Sea.Dimerco has the option to increase its stake to 49% after two years.The joint venture will allow ITG to better focus ...
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China Southern to spin off cargo business
China Southern has offloaded its cargo business as part of the Chinese government's mixed ownership reforms.According to an announcement from China's National Enterprise Credit Information Publicity System, the airline's parent, China Southern Air Holding, set up a new cargo business with a registered capital of Y1bn to operate the airline's ...
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Air Cargo News' Top 10 most read in 2019
With 2020 already underway, the Air Cargo News team decided that now is an ideal moment to share our most popular stories from the past 12 months. Despite 2019 being a challenging – and at times, unpredictable – year, there were significant positives, as our list below shows.So, which stories ...
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Retailers say US-China trade agreement a step in the right direction
The US National Retail Federation (NRF) has welcomed news that the North American country and China have agreed on phase one of a trade deal.Reports indicate that the agreement cancels tariffs that were due to come into force last week and will reduce tariffs that took effect in September.However, earlier ...
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NewsDSV Panalpina to provide e-commerce logistics for Marimekko
DSV Panalpina has signed a partnership with Finnish fashion brand Marimekko.As part of the partnership, from 2020, Marimekko’s warehouse operations will be moved to DSV Panalpina’s new warehouse in Vantaa, Finland.The new warehouse set-up will support Marimekko sales – including wholesale, stores, local and global retail and e-commerce.DSV and Marimekko ...
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IATA: Air cargo set to return to growth in 2020
Airline association IATA has predicted that the cargo sector will return to growth next year, while airlines are also expected to improve their profitability.In its annual outlook, IATA said that freight volumes are expected to increase by 2% year on year in 2020 to reach 62.4m tonnes following on from ...
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NewsKerry Logistics wins Junzi Corporation award for business ethics
Kerry Logistics has received the Junzi Corporation Award for Business Ethics from the Hang Seng University of Hong Kong (HSUHK).The award recognises the company's practises to the highest standards of business ethics.Kerry Logistics operates "with integrity, transparency and accountability", and has committed itself to serving the community by leveraging its ...
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Asia-Europe air cargo rates close in on 2018 levels in November
Airfreight rates on the Asia-Europe trade closed in on 2018 levels in November, but transpacific prices for the month still lag behind a year ago.The latest figures from TAC Index show that in November rates on services from Hong Kong to Europe declined by 3.3% year on year to $3.26 ...
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Air France KLM confirms it will no longer acquire Virgin Atlantic stake
Air France-KLM has confirmed it has scrapped plans to acquire a 31% stake Virgin Atlantic following the US Department of Transportation's (DOT) approval of an alliance the carriers plan to launch.The two carrier's plan to team up with Delta Air Lines to form an alliance on the transatlantic trade and ...
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NewsAirfreight leaders unveil first-ever A4E Air Cargo Policy Manifesto
Yestesrday at A4E’s (Airlines for Europe) Air Cargo: Europe’s Bridge to the Global Economy event in Brussels, Europe’s leading airfreight chief executives unveiled the first ever A4E Air Cargo Policy Manifesto.The manifesto outlines ways that European Union (EU) policymakers, up to the year 2024, can support air cargo carriers as ...
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NewsIATA: Peak season off to a disappointing start
It's a slow start for peak season, but key market drivers show signs of stabilising, IATA has reported in its October airfreight market analysis report.Despite peak season being dominated by consumer-led holidays that impact the airfreight market – such as Singles Day, Black Friday, Cyber Monday and Christmas – October ...
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NewsDHL: Globalization is evolving not declining
DHL Global Connectedness Index 2019The world continues to be highly globalised despite headwinds in geopolitics and trade.The latest DHL Global Connectedness Index, which was put together by DHL and the NYU Stern School of Business, dipped slightly in 2018 but despite this the company says the world is seeing an ...
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News
Hong Kong carriers under pressure
Cathay Pacific and Hong Kong Airlines are both facing pressure, with the latter facing the prospect of being wound up by authorities.Earlier this week, Hong Kong's Air Transport Licensing Authority (ATLA) issued an ultimatum to Hong Kong Airlines, saying it must secure a cash injection and raise and maintain its ...
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LATAM signs codeshare with Delta in shift away from American
South American carrier LATAM Airlines Group has signed new codeshare agreements with pending-equity owner Delta Air Lines and announced plans to discontinue its codeshare deal with American Airlines on 31 January 2020.The news from Santiago-based LATAM comes as that carrier progresses with a plan to align closely with Delta.News broke ...
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NewsAir cargo volumes down again in October
The latest figures from analyst WorldACD show that cargo volumes declined on a year earlier for the twelfth month in a row in October.WorldACD said the industry as a whole saw total chargeable weight decline by 5% year on year during the month, with general cargo slipping by 8.2% on ...
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Cathay Pacific: positive peak season for AP region
Cathay Pacific Cargo has reported a positive peak season, based on its performance and its role in transporting freight related to consumer-led holidays such as Singles' Day, Thanksgiving and Christmas.In a reflective, positive statement, the company's head of cargo global partnerships, James Conlin (pictured), said: "While still below what it ...
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SF Express launches bond sale to raise cash for freighters
SF Express has launched a bond issue that aims to raise Yuan5.8bn, with much of that money earmarked for investment in new aircraft.The Chinese express giant said that it would spend Yuan1.52bn of the money raised on aircraft for its fast-expanding SF Airlines division.Meanwhile, Yuan1.49bn will be spent on developing ...
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NewsWings for Aid scoops TIACA Award
Wings for Aid has been named as the first winner of TIACA's first sustainability award, sponsored by CHAMP Cargosystems.The award was presented at the TIACA executive summit held in Budapest. Earlier in the day, the three finalists – M&G Packaging Corp, Nallian and Wings for Aid Foundation – presented their ...