All Business articles – Page 56
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Russian cargo airlines file flight information to comply with US ruling
Russian cargo carriers have filed information on their flights to and from the US with the Department of Transportation (DoT), in compliance with a new ruling by Washington.In late May, the DoT told three Russian airlines to file detailed information about any services operating in the country, in apparent response ...
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ECS Group sold as it looks to fund future acquisitions
Cargo sales agent ECS has been acquired by investment firm Naxicap Partners to help continue the GSSA's acquisition strategy.Naxicap said that in a market ripe for consolidation, offering a strong pool of build-up opportunities, the company intends to pursue an active strategy of acquisitions, "generating significant commercial synergies", while continuing ...
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IATA: April sees fuel prices pick up and load factors decline
The latest Airlines Financial Monitor from IATA indicates that cargo load factors have dropped back to levels last seen at the start of 2017.Across the air cargo industry, the freight load factor fell 0.5% in April compared to the same month of 2017.Capacity (available freight tonne-km, AFTK) increased 5.1% year ...
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Finlogistics acquisition doubles Leman’s Finland footprint
Danish-based logistics company Leman has acquired Finland-based FL Services Finlogistics, doubling its presence in the country.Based in Kerava, 35km north of Helsinki as well as in Kotka, Finlogistics offers airfreight, sea freight and logistics solutions. It has ten employees and a turnover of €9m.Leman Group chief executive Thomas Krøyer said ...
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Airfreight KPIs set to feature in business contracts
Air cargo’s emerging key performance indicators (KPIs) look set to become a feature of future contracts between airfreight stakeholders.Ground handlers, general sales agents (GSA) and freight forwarders are likely to see KPIs – currently in test phase – being built into their contracts with airlines and shippers.That was the impression ...
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Speakers line up for Farnborough Airshow cargo conference
The future of air cargo and cargo technology will be the themes of a two-day airfreight conference to be hosted within the cargo village at the UK’s Farnborough International Airshow 2018 (FIA18) which takes place between 16-18 July.The 1,000 sq m Cargo Village will serve as an important hub for ...
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Make or break time for air cargo collaboration projects?
Air cargo collaboration projects are facing make or break time as those that contribute positive developments to the industry thrive and those that achieve little begin to fail.During the Air Cargo China event in Shanghai, a panel session explored the benefits of the many collaboration projects and cargo communities that ...
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AP Moller-Maersk reports ‘unsatisfactory earnings’ in first quarter
AP Moller-Maersk saw its revenue rise by 30% year-on-year in the first quarter of 2018 to reach $9.3bn.That year-on-year revenue improvement figure would be 10% if shipping line Hamburg Süd – which was acquired at the end of 2017 – was taken out of the figures, but there was growth ...
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LATAM Q1 cargo revenues boosted by salmon and electronics demand
LATAM Cargo recorded an improvement in revenues and volumes during the first quarter of the year, boosted by demand for salmon, electronics and capital goods.The airline reported a 16.6% increase in first-quarter cargo revenues to $295.8m, while volumes were up 5.6% to 225,000 tons and its load factor stood at ...
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ATSG profits on the up in Q1
Aircraft lessor ATSG saw first-quarter net earnings increase on the back of demand at its Cargo Aircraft Management (CAM) business and lower federal taxes.The company saw revenues for the period decline by 14.6% year on year to $203m, although this reflected the adoption of a new revenue standard and $54.4m ...
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Cargojet reports increased revenues and profits in Q1
Aircraft lessor Cargojet saw first-quarter revenues increase by 13.9% year on year, driven by its overnight and charter business.The Canadian company reported total revenues for the first three months of the year of C$99.2m, while earnings before income taxes improved by 71.1% year on year to C$6.5m and net earnings ...
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Air cargo hedging for a paper market
In many industries index-linked block space agreements (BSA) and derivatives markets, also known as forward freight agreements (FFA) and paper markets, are normal.In shipping, for example, many bulk sectors have a paper market that offers the option to hedge against the volatility of prices in the physical market.Now, one company ...
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CH Robinson sees airfreight revenues increase by over 20% in Q1
US forwarder CH Robinson saw airfreight revenues increase by more than 20% in the first quarter of the year as market growth and acquisitions helped boost performance.The company said its freight forwarding division saw total revenues for the quarter increase by 18.1% to $553m on the back of double-digit volume ...
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NewsDSV sees airfreight volumes continue to grow
DSV continued to report strong growth in airfreight volumes during the first quarter of the year, while revenues also improved.The Danish forwarder saw first-quarter airfreight volumes increase by 10.9% year on year to 163,000 tonnes. Last year the company saw airfreight volumes improve by 10.6% year on year, helped by ...
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Air France KLM Cargo gets digital to smooth processes
The last few years have by no means been easy for Air France KLM Martinair Cargo (AF KLM) as it underwent a restructuring that saw it lose around 15% of staff over a three-year period.Its freighter fleet was also reduced from 15 aircraft at the start of 2014 to six ...
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NewsAmerican Airlines reports Q1 cargo revenue growth
American Airlines is the latest US carrier to report strong financial performance for its cargo during the first quarter of the year, with revenues and traffic increasing at double-digit percentage levels.The Dallas-headquartered airline saw total first-quarter cargo revenues increase by 18.8% year on year to $227m.The revenue increase comes on ...
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NewsLufthansa reports another strong quarter for cargo on rate increases
Rate increases helped boost revenues at Lufthansa’s cargo and logistics business in the first quarter of the year.First-quarter figures from the Frankfurt hubbed aviation group show that its logistics business segment saw revenues increase by 12.7% year on year to €641m in the first quarter.This is ahead of a 4.6% ...
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Union wants talks after Cargolux's record result
The LCGB union would like to enter into talks with Cargolux management after the airline announced record results which the trade body said was built on the back of staff working to their limits.Yesterday, the airline announced 2017 full year net profit after taxes reach $122.3m, compared with a prior ...
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NewsCargolux surges to $122m net profit in 2017
Cargolux Airlines saw 2017 full year net profit after taxes reach $122.3m, compared with a prior year $5.5m for the European freighter aircraft operator.For the first time in its history, the Cargolux Group exceeded one million chargeable tonnes flown, as FTKs increased by 12.3% in 2017 and the Luxembourg-based carrier's ...
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Air cargo set for index-linked BSAs and derivatives
The air cargo industry could have its first index-linked block space agreements (BSA) completed within six months while a derivatives market is also being launched.Shipping derivatives broker Freight Investor Services (FIS) and rate index TAC Index have teamed up to develop and launch a paper derivatives product, known as forward ...