All Business articles – Page 75
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Air France-KLM half year results
ON A long flightpath to financial recovery, Air France/KLM grew its half-year 2014 group revenues by one per cent to €12bn, a statement reveals.A strict capacity-management discipline is being used to balance supply and demand and improve productivity at the loss-making merged European carrier.This strategy is particularly relevant to its ...
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Record performance for Russia's ABC
AIRBRIDGECARGO (ABC) Airlines, Russia’s largest scheduled cargo airline and part of Volga-Dnepr Group, started its 10th anniversary year with a record performance in the first six months of 2014, transporting 188,354 tonnes across its international network, 16 per cent more than the previous year.The improvement reflects the airline’s strong market ...
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Air freight price index stabilised in June
East-West air freight rates stabilised in June, following the seasonal correction of May, as Drewry’s East-West Air Freight Price Index recovered 2.3 points in the month to 101.6 points.The uptick in pricing only partly offset the decline experienced in May, but still left the index "considerably higher" than it was ...
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UPS parcel surge to Europe
E-commerce shipping in the US and strong International export growth helped parcel giant UPS record a 7.2 per cent increase in global package shipments in the 2014 second quarter.A surge in outbound shipments to Europe contributed to a 6.2 per cent rise in international small package revenues of $3.3 billion ...
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SIA cuts Q1 cargo loss to S$18 million
Singapore Airlines’ cargo division halved its first quarter loss to S$18 million in the financial year first quarter, after it was better able to match capacity with demand.SIA Cargo recorded lower revenue in three-month period ended June 2014, despite a 0.9 per cent improvement in yield, as the air freight ...
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Subdued half year for Lufthansa
Lufthansa’s group cargo volumes fell 3.1 per cent in the first six months of 2014 to 932,000 tonnes in a “subdued” freight market for the German carrier’s airline businesses which include Lufthansa Cargo, Swiss and Austrian Airlines.In its half-year financial review, Lufthansa said: “The global cargo business was more subdued ...
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June volumes maintain upward momentum
June continued the momentum of 2014 air freight volume growth, with a 4.8 per cent year on year increase for the month.Latest analysis from WorldACD, the Amsterdam-based air cargo market data specialist, indicates that revenues grew even more: “For the first time in 2.5 years, we registered a month with ...
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IAG Cargo results reflect capacity switch
IAG Cargo's revenue fell 9.8% in the first half of 2014 to €488 million as volumes edged down 3.3 per cent to 441,000 tonnes, figures which reflect the ending of a long haul freighter leasing programme in April.The freight arm of British Airways and Iberia terminated its agreement with Global ...
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Atlas 'encouraged' by market volumes
Atlas Air Worldwide Holdings has presented an upbeat market volume outlook after announcing a second quarter net income of $29.6 million, compared with $20.1 million in same period last year.William Flynn, president and chief executive of the US-based aircraft leasing company, said: “We are off to a good start in ...
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Air cargo dips in June
GLOBAL airfreight volumes were up 4.1 per cent in the first six months of this year in comparison with 2013, buoyed by improving global trade and stronger business activity over the past year, according to IATA.June’s figures show reduced demand though, slowing to 2.3 per cent – down on the ...
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Cathay warns on market overcapacity
Cathay Pacific has warned about continued overcapacity in the cargo market despite the Hong Kong-based group notching a 3.4 per cent rise in freight revenue to HK$11.6 billion in the first half 2014.In a results statement Cathay said of its cargo business: “Overcapacity in the industry remains a major concern ...
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IAG Cargo: open to opportunities
FRESH from signing its block space programme on Qatar Airways freighters, IAG Cargo is prepared to “explore other opportunities” in terms of carrier partnerships.Steve Gunning, chief executive of the British Airways and Iberia cargo arm, says that the deal with Qatar Airways - sharing five-weekly B777F flights from Hong Kong ...
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ATSG' revenue uptick
A boost in US military contracts and aircraft maintenance services saw aircraft lessor Air Transport Services Group (ATSG) record an eight per cent rise in revenues to $149.6 million for the 2014 second quarter.Joe Hete, president and chief executive of US-based ATSG, said: “The second quarter provided strong evidence of ...
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SAA and Boeing to develop tobacco plant jet fuel
SOUTH African Airways (SAA) and Boeing have joined forces to develop an environmentally-friendly jet fuel produced from a new type of tobacco plant, writes Thelma Etim, deputy editor.The carrier and the planemaker will utilise sustainable jet fuel producer SkyNRG’s hybrid plant Solaris, which farmers can grow as an energy crop ...
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Air New Zealand alliance with SIA approved
New Zealand's minister of transport has approved the alliance between Air New Zealand and Singapore Airlines.“It’s very pleasing to receive regulatory approval for this alliance which will enable us to grow our network with operations between Auckland and Singapore in the very near future,” said Air New Zealand chief executive, ...
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DWC cargo up in Q2
THE permanent relocation of Emirates SkyCargo’s freighter operations to Al Maktoum International – Dubai World Central (DWC) resulted in a triple-digit surge in cargo traffic in the second quarter of this year, writes Thelma Etim, deputy editor.DWC handled 199,751 tonnes, up 308 per cent from the same period in 2013, ...
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Etihad will bring Alitalia back to profitability by 2017
JAMES HOGAN, president and chief executive of Etihad Airways, has announced that the carrier has spent €560m to acquire its 49 per cent equity stake in Alitalia, writes Thelma Etim, deputy editor.Under the deal, which will result in €1,758m of investment and includes restructuring the Italian carrier’s debt, the Middle ...
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UK aviation strategy in the spotlight
UK logistics professionals have called on the government to focus on long-term aviation strategy.The Chartered Institute of Logistics and Transport (CILT) has produced its own report, The Future of Aviation, which outlines long-term strategic prospects for the growth of UK air transport.This publication is one of a series of strategy ...
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Cooperation is the key driver
THE latest half-year results for the air cargo industry’s two great players, the airlines and freight forwarders, reveal a market where volume increases are dampened by a “competitive environment” to use the jargon, or a rates battle to you and me.The major purchasers of air cargo space, Deutsche Post DHL, ...
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One Question
Steve Gunning, chief executive of IAG Cargo, answers: "THIS big influx of cargo capacity is creating an excess supply and the only relief valve that the air cargo industry has is freighter capacity, because that is the only one it is fully in control of.“As a result you will see ...