All Business articles – Page 52
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NewsUS-China trade tensions dent air cargo outlook
The DHL Global Trade Barometer (GTB) is indicating a contraction in worldwide trade over the next three months for the first time since its launch in January 2018.The quarterly trade index for the coming three months now stands at 48 points, which as it is below 50, indicates expectations of ...
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NewsVolga-Dnepr Group firms up entry into B777F market
Volga_Dnepr-DAE Signing CeremonyThe Volga-Dnepr Group has firmed up its entry in the B777F sector with a lease deal for three of the aircraft from DAE Capital, following on from the confirmation of an order for nine of the aircraft with Boeing.DAE said that it had entered in a sale and ...
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NewsQatar Cargo takes aim at cargo top spot with commitment for five B777Fs
Akbar Al Baker (L) and Kevin McAllisterQatar Cargo has continued to home in on its ambition to the be the world's largest air cargo carrier with a commitment for five B777Fs valued at $1.8bn at list prices.The latest freighter deal builds on the airline's 777 Freighter order book as the ...
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NewsChapman Freeborn to target growth following acquisition by Avia Solutions
Aviation group Avia Solutions Group has entered into an agreement to acquire UK-headquartered Chapman Freeborn Group as the broker aims to accelerate growth.Terms of the deal, signed on June 14, were not disclosed and the transaction is expected to close in the third quarter of the year.Chapman Freeborn chief executive ...
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Is e-commerce worth the investment for air cargo?
Amazon is upping the ante in the race to the consumer’s door with the announcement that it is slashing delivery times for its Prime customers from a standard two-day window to next day.For now the change targets the US market, but Amazon has signalled that it intends to come up ...
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Transpacific air cargo rate outlook clouded by tariff troubles
Airfreight rates on major trade lanes continued to show a mixed performance in May.The latest figures from TacIndex show that on the Hong Kong-North America trade prices declined by 4.4% year on year in May to an average of $3.71 per kg.The fact prices are down on last year should ...
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New offices drive Air Partner’s freight growth
Air Partner’s Freight division has reported record profits of £4.9m, up 45.3% for the year ended 31 January 2019, accounting for 13.8% of the global aviation services group’s overall gross profit.Over the course of the last financial year, the group has expanded its team in Turkey and established a new ...
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ACE Belgium Freighters hits back in name dispute
All-cargo operator ACE Belgium Freighters has hit back against a complaint made to the US Department of Transportation (DOT) over the use of the ACE name.On May 2, the Liege-based airline was given approval by the DOT to start scheduled and charter services between the European Union and the US.However, ...
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Avianca sees cargo revenues fall following termination of Etihad partnership
Avianca saw cargo revenues decline in the first quarter following the termination of its commercial agreement with Etihad Cargo on freighter flights to Europe.The company said that revenues from its “cargo and other” business were down by 8.4% year on year to $180.3m in the first quarter, primarily due to ...
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NewsEmirates CCO resigns days after profit fall announced
Thierry AntinoriEmirates has confirmed that chief commercial officer Thierry Antinori has resigned from his position, where he managed commercial operations and products, Emirates Skycargo and Emirates Skywards.Adnan Kazim, divisional senior vice president, strategic planning, revenue optimisation and aeropolitical affairs, will take over as acting chief commercial officer.The news comes shortly ...
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Agility sees profits, revenues and airfreight increase
Kuwait-based logistics and infrastructure firm Agility saw revenues and profits increase during the first quarter of the year despite a slowing growth environment.First-quarter revenues at the company increased by 1.9% year on year to KD378.8m ($1.2bn), while ebitda was up 22.8% to KD46.3m and net profits imporved by 7.3% to ...
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US more than doubles Chinese tariff levels
The US has followed through on its threat to increase tariffs on $200bn worth of Chinese goods.Tariffs on Chinese products being imported into the US have been increased from 10% to 25% and China has threatened to retaliate.The types of products covered by the tariff increases includes: fresh food, processed ...
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NewsSouth America and Africa boost IAG Cargo in tough Q1
IAG Cargo managed to record an increase in airfreight traffic in the first quarter despite an overall market decline, although revenues for the period were down.IAG's cargo division saw cargo traffic increase by 2.6% year on year to 1.4bn cargo tonne kms, while revenues decreased by 0.4% on a year ...
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NewsDHL sees airfreight volumes slide but rates boost revenues
DHL Global Forwarding saw its airfreight volumes decline for the fifth quarter in a row in the first three months of the year, but profits at its air division increased as rates improved on a year ago.The Deutsche Post-owned freight forwarder reported a 4.2% decline in airfreight volumes during the ...
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ATSG boosted by Omni, Amazon and DHL
ATSG saw revenues increase by 71% in the first quarter of the year thanks its purchase of Omni Air while it expects a further boost from expanded contracts with Amazon and DHL.The aircraft lessor and operator saw first quarter revenues reach $348m, while earnings from continuing operations increased by $7m ...
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NewsAdidas turns to airfreight to mitigate supply chain shortages
Sportswear giant Adidas is turning to airfreight as it looks to mitigate supply chain shortages caused by an unexpected increase in demand for certain products.In its first-quarter results, the Germany-headquartered multinational said that revenue growth during the first three months of the year was affected by product shortages.It warned investors ...
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US threatens further tariff hike on Chinese goods
US retailers are bracing themselves for increases in US tariffs on Chinese goods after president Donald Trump took to Twitter over the weekend to threaten further hikes in rates.On Sunday, president Trump said that the 10% tariff rate on $200bn worth of Chinese goods would good up to 25% on ...
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Atlas sees revenues grow on increasing demand
Atlas Air Worldwide Holdings (AAWW) saw adjusted profits increase in the first quarter of the year as a result of increasing customer demand.The aircraft lessor and operator reported first-quarter operating revenues of $680m, while adjusted income for the period was up 14.7% to $27.3m and adjusted earnings before interest, tax, ...
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NewsDHL extends ATSG freighter leasing deal
A DHL B767F like those leased by ATSGDHL has extended by three years its deal to lease 14 Boeing 767 freighters from ATSG subsidiaries.The aircraft lessor said that it would also operate eight of those aircraft within DHL's North American Network.The agreements include:- The extension of eleven aircraft leases between ...
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NewsProfits tumble at Lufthansa's cargo business
Lufthansa’s cargo and logistics segment saw operating profits tumble in the first quarter as volumes declined and expenses increased.Lufthansa’s logistics segment, which includes Lufthansa Cargo and other businesses such as time:matters and Jettainer, saw first-quarter revenues decline by 4% year on year to €616m while earnings before interest and tax ...