All Business articles – Page 58
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News
Air cargo set for another solid year in 2018
Air cargo is expected to have another "solid" year in 2018, although growth is expected to slow and there are some potential challenges ahead.Speaking at the IATA Cargo Media Day in Geneva, the airline association’s chief economist Brian Pearce said he expected e-commerce and inventory restocking to drive “good growth” ...
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British Airways cargo cartel appeal rejected
The European Court of Justice has turned down British Airways attempts to have its fine for its alleged role in the air cargo cartel overturned.In a complex ruling, which can be found here, Europe's highest court dismissed the airline's appeal to fine the carrier €104m for operating a price-fixing cargo ...
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ANA international freight soars by a third
A 31.1% year-on-year increase in international cargo revenue to ¥12.9bn helped Japan’s All Nippon Airways (ANA) to record profits in the first half of the financial year (April-September).International cargo benefited from a strong outbound performance to overseas destinations thanks to robust demand, especially for automobile parts to North America and ...
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NYK to become 100% owner of forwarder Yusen
Japanese shipping and transport company NYK is to acquire the remaining 41% stake of its freight forwarding subsidiary, Yusen Logistics, from minority shareholders. The transaction is expected to be completed by late March, 2018.In a statement, NYK said the move was part of its strategy to expand beyond its traditional ...
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Lufthansa sees cargo business continue to improve in third quarter
Lufthansa’s cargo and logistics division saw revenues and operating profits continue to improve during the third quarter of the year as the market maintained its upward trend and the carrier offloaded two MD-11Fs.The German airline’s logistics division, which includes Lufthansa Cargo, Jettainer, time:matters and an equity investment in AeroLogic, saw ...
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Opticoolers now available on Saudia flights
DoKaSch Temperature Solutions says its RKN and RAP Opticooler active containers are now available on Saudia Cargo flights following a master agreement signed with the German ULD provider.The Opticooler is designed to keep sensitive cargo such as pharmaceuticals cargo within a temperature range of 2° to 8° Celsius or 15° ...
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LATAM's quarterly cargo traffic improves for first time since 2013
Quarterly air cargo traffic at the LATAM Group increased for the first time since 2013 during the second quarter of the year as imports into Brazil began to pick up.The Santiago-headquartered airline group registered a 0.3% year-on-year increase in cargo traffic to 799m revenue tonne kms (RTK).While the increase may ...
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NewsCathay swings to H1 loss despite improving cargo business
Cathay Pacific recorded a loss in the first half of the year, despite the positive performance of its cargo business (see tables at end of article).The Hong Kong-headquartered airline recorded a loss attributable to shareholders of HK$2bn during the first half, compared with a profit of HK$353m last year. Revenues ...
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Leisure Cargo airfreight services not affected by Air Berlin insolvency
Leisure Cargo has moved to assure customers that its airfreight services have not been affected after its parent, Air Berlin, yesterday filed for insolvency.The company, which is a virtual airline, marketing cargo capacity on 14 low-cost and tourist airlines, said that all flights operated by Air Berlin and Austria-based subsidiary ...
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Ex-CEVA shareholders launch lawsuit against Apollo Global
A former CEVA Logistics employee has launched a lawsuit against the owners of the company over allegations a group of employee investors were defrauded out of their stake in the firm.In court documents filed in Florida, it is alleged that a group of ex-employees and employees have accused Apollo Global ...
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Ahead of market growth for DB Schenker airfreight
German-owned forwarder DB Schenker’s airfreight business grew by 11.4% to reach 613,000 tonnes in the first half of 2017, said Deutsche Bahn AG’s chief executive Dr. Richard Lutz at a press conference to announce the holding company’s interim results.The overall airfreight market was estimated to have grown by around 9% ...
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IATA survey of airline and cargo bosses saw Q2 profits rise
An IATA survey found that more than three-quarters of airline chief financial officers and heads of cargo indicated that profitability increased in the second quarter of 2017 compared to the same period of 2016.However, IATA added that the first quarter may have marked the bottom of the industry profitability cycle.The ...
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Join the exclusive cargo club at Farnborough International Airshow 2018
The organisers of the world famous Farnborough International Airshow 2018 have announced record monthly bookings for next year's event, which takes place on July 16-22.Air Cargo News will be in attendance and we are exclusively selling exhibition packages for the dedicated Cargo Village, which will feature some of the biggest ...
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NewsTop 25 air forwarders 2016 revealed: DHL maintains top spot
DHL Global Forwarding, Kuehne+Nagel (K+N), DB Schenker and UPS maintained their position as the leading four airfreight forwarders in 2016, while DSV’s acquisition of UTi propelled it up the list (scroll to end for full list).The latest top 25 Global Freight Forwarders list from consultant Armstrong & Associates, based on ...
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Brexit: the economic perspective
Brexit means Brexit, but will it be a hard, soft, or red white and blue Brexit, and what are economic risks?Britain’s departure from the European Union ─ set your calendar for March 2019 ─ was a key theme in ‘Navigating global trade in turbulent times’, a seminar organised by SEKO ...
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Brexit: the supply chain perspective
Britain leaving the European Union, or Brexit, will have a profound effect on UK-managed supply chains, with more paperwork, a rethink on hub locations, IT system challenges and a need to revisit existing contracts with suppliers and customers.But there are also opportunities, with Brexit providing the excuse for a totally ...
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GLS wins 25 year cargo concession in Liberia
Global Logistics Services Inc. (GLS) has secured a 25-year concession for air cargo operations at Liberia’s sole international airport, Roberts International (ROB).The agreement, passed into law by the country’s legislature, makes GLS the first Liberian company to own an operating concession in the country’s 169-year history.GLS, which currently handles up ...
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Qatar Airways set to move on a 10% stake in American Airlines
Qatar Airways could be set to invest more than $800m in a 10% stake in American, an airline that has accused the Middle Eastern carrier of benefitting from state handouts.In a stock exchange filing, the US carrier said it had received an “unsolicited notice” from Qatar Airways of its intention ...
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GECAS plans to convert a further 30 B737-800s into freighters
GE Capital Aviation Services (GECAS) is planning to convert a further 30 Boeing 737-800s into freighters.GECAS launched the 737-800 freighter programme with Aeronautical Engineers (AEI) in 2015 and Boeing in 2016. Since then GECAS has provided each programme with a prototype aircraft for modification at separate conversion facilities in Miami ...
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time:matters maintains the pace
time:matters, the Neu-Isenburg, Germany-headquartered specialist in time-critical logistics, has revealed that it enjoyed a 9% year on year increase in revenue in 2016.It made revenue of just under €70m.In so doing, the company said that it had “maintained its positive overall performance of recent years and exceeded its sales growth ...