Business – Page 102
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News
Investment fund buys ULD specialist CHEP
CHEP Aerospace Solutions, the Unit Load Device (ULD) management specialist, is being sold to EQT Infrastructure II of Sweden.Brambles, the Australian-based parent company of CHEP Aerospace Solutions, said that the transaction with the infrastructure fund will complete during November 2016.CHEP Aerospace Solutions offers pooling, management, maintenance and repair of ULDs ...
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NewsLufthansa's cargo business is in the red again
Lufthansa’s cargo and logistics division has slipped to its sixth quarterly operating loss in a row as market overcapacity and weak demand continued to blight financial performance.The German airline group’s logistics division, which includes Lufthansa Cargo, time:matters and other cargo related businesses, recorded a third quarter earnings before interest and ...
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E-commerce spurs Aramex growth
Middle East based logistics company Aramex saw revenues up 15% in the third quarter of 2016 to AED1.05bn but net profit was down 3% at AED72.2m compared with like period last year.However, for the first nine months of the year, net profit was up 16% to AED294.8m while revenue was ...
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IAG Cargo Q3 volumes up but revenues and yields down
IAG Cargo saw third quarter 2016 commercial revenues fall by 7% to €240m compared with the like period 2015.Adjusting the prior year's figures to reflect a directly comparable operation, commercial revenue decreased 6.5% versus last year at constant exchange.The airfreight arm of British Airways, Iberia, Vueling and Aer Lingus saw ...
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Asia air cargo – so far so good
There was a continued uptick in air cargo during September, although the future is clouded, says the Association of Asia Pacific Airlines (AAPA). Provisional figures show a further improvement with 5.3% growth in freight tonne kilometres (FTKs), despite prevailing weak trade conditions.The average international freight load factor increased marginally, by ...
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Air Cargo Forum: New pharma group hopes to double shipper supporters over coming months
Brussels Airport and Miami International Airport have set up a new pharma organisation to improve handling and quality worldwide and expect to double the number of shipper participants over the coming months.Pharma.Aero will focus on shippers and all industry stakeholders who embrace the IATA CEIV programme. Members will foster route ...
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UPS shrugs off international airfreight woes and pension payments
UPS has revealed a 3.6% increase in third-quarter earnings at $1.44 per share, compared with the same period last year. International operating profit increased 14% to $576m, the seventh consecutive quarter of double-digit growth, said the express logistics company.Total reported revenue was $14.9bn, up 4.9% over the same quarter last ...
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Profits may have peaked, say airline bosses
Profitability in the industry may have peaked, according to IATA’s quarterly business confidence survey of airline chief financial officers and heads of cargo.When surveyed in early October, they reported that profitability was unchanged in the third quarter of 2016 compared to the same period a year ago and also that ...
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Air Partner delivers urgent aid to Haiti
Air Partner has delivered 40 tonnes of urgent aid to Haiti on behalf of the International Federation of Red Cross and Red Crescent Societies (IFRC) to support the victims of Hurricane Matthew.The shipment included hygiene kits, buckets, tarpaulins, shelter tool kits and kitchen sets for around 1,000 families.Air Partner arranged ...
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The Range is at home with DHL
DHL Global Forwarding has been working with homeware retailer The Range to enhance its import supply chain. Based in the UK, The Range has enjoyed rapid growth in demand for its 65,000 product lines and has asked the forwarding arm of the Deutsche Post group to develop a robust, scalable, ...
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Capacity flood threatens profitability, warns IATA
Flooding-in of capacity, weak trade, lower yields and rising fuel costs are the key risks for air cargo profitability, said IATA in its latest quarterly Cargo Market Analysis.While the outlook for trade is sluggish, with global economic growth expected to decelerate in 2016, an expansion in export orders and strong ...
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Air Cargo Forum: Shippers and airlines pledge to raise air cargo’s game
The Global Shippers Forum (GSF) signed a memorandum of understanding with IATA interest group Cargo iQ to improve quality in the industry at TIACA’s Air Cargo Forum in Paris.The two partners pledged to implement the Cargo iQ quality management system and promote sustainability in airfreight.The MoU outlines six areas where ...
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Air Cargo Forum: TIACA says cooperation is key to air cargo’s future
Industry and regulators pledged to work more closely to make air cargo safer and more reliable at TIACA's Air Cargo Forum in Paris.TIACA secretary general, Doug Brittin, and his counterparts at the International Civil Aviation Organization (ICAO) Dr Fang Liu, and the World Customs Organization (WCO), Sergio Mujica, also said ...
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ACS to the rescue again in Haiti
Air Charter Service (ACS) has arranged several cargo and passenger charter flights to Haiti, following Hurricane Matthew earlier this month which left at least 1,300 people dead and more than 35,000 homeless.ACS group commercial director, Justin Lancaster, said that ACS first operated a passenger flight, carrying teams to assess the ...
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Partial commitment on UK airport capacity does not reassure global investors says KPMG
Additional regulatory delay around Heathrow's third runway approval by the UK government sends out an "indecisive message to business and global investors" according to financial advisers KPMG.James Stamp, global head of aviation at KPMG, said: “Now, more than ever, UK plc needs to demonstrate both its ability and willingness to ...
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IAG on third runway: Heathrow customer charges must be capped
British Airways and Iberia parent International Airlines Group (IAG) has warned that the cost of the third runway project at Heathrow will" make or break it".While welcoming the decision to expand Heathrow, IAG added that it was pleased that the UK government "has recognised the cost to customers must not ...
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IATA draws up security blueprint
The International Air Transport Association (IATA) has drawn up a list of four principles to find “durable solutions to aviation’s security challenges”. They cover areas such as overflying conflict zones, landside security at airports, insider threats, cyber security and harmonisation of information requirements and airport checkpoints.Director general and chief executive, ...
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K+N: Third quarter airfreight market "remained tense"
Kuehne + Nagel (K+N) reported that the global airfreight market "remained tense" in the third quarter and added that pressure on margins continued due to "shrinking demand and further capacity increases".Against this trend, the Switzerland-based global logistics giant grew its air cargo tonnage by 3.8% and gross profit per 100 ...
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Now the hard work on the cargo agency programme really starts
Freight forwarder association Fiata and IATA have officially signed the long-awaited reforms to the IATA Cargo Agency Program and said that now the hard work of implementing the agreement begins.The new IATA-FIATA Cargo Agency Program (IFACP) was hailed as a “historic” agreement at an official signing ceremony held today during ...
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NewsDelta Air Lines records declines in third quarter cargo revenues and demand
Delta Air Lines reported yet more declines in its cargo revenues and volumes during the third quarter of the year.The US airline suffered a 14.8% year on year decline in third quarter cargo revenues to $167m while traffic was down 9.5% during the period to 504m cargo ton miles.Delta does ...