Business – Page 104
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NewsIAG reports double-digit cargo revenue decline despite demand increase
IAG recorded a double-digit percentage decline in cargo revenues during the second quarter of the year despite an increase in demand during the period.The British Airways, Iberia and Aer Lingus owner this morning announced second-quarter cargo revenues of €241m compared with €274m during the same period last year, representing a ...
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JAL's international cargo revenues plunge 32.6% in the first quarter
Japan Airlines (JAL) recorded a 32.6% year on year drop in international cargo revenues to ¥9.9bn in the three months ended June, due to a decline in demand on transpacific routes and other sectors.The Japanese flag-carrier also recorded a 4.1% year-on-year decrease in cargo volumes, measured in revenue cargo ton ...
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NewsAir France KLM Cargo remains in the red
Air France KLM’s cargo business remained in the red during the first half of the year but the phasing out of freighters has helped improve performance compared with a year earlier.The Franco-Dutch airline group’s first-half figures for the cargo business show an operating loss of €116m against a loss of ...
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DHL to surf US e-commerce boom with $137m investment
Deutsche Post DHL Group (DP-DHL) has announced a $137m investment plan for the US domestic and cross-border e-commerce market.The German-headquartered logistics group said that its objective is to exploit the global business to consumer (B2C) e-commerce market for shipments crossing borders which is expected to grow from $400bn today to ...
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Panalpina airfreight volumes rise in difficult market
Panalpina has reported on a challenging six months of operations for its airfreight arm, and right across its business.Airfreight volumes rose by 8% year on year over the first six months of 2016, although the market had – the Switzerland based logistics player said – shrunk by 3%.However, much of ...
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Pelican signs up new distribution partners in Asia
Pelican BioThermal, a provider of temperature-controlled packaging solutions designed for the life sciences industry, has expanded its presence in Asia by signing up two new distribution partners in the region.It has joined forces with Pharmaserv Express of the Philippines and CMC Element of China.Pharmaserv Express transports pharmaceutical products in the ...
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Lufthansa downgrades profit expectations
German flag-carrier Lufthansa has reported provisional figures that suggest the airline made revenue of €15bn (S16.6bn) in the first half of this year, down from the January – June 2015 figure of €15.4bn ($17bn).Its adjusted EBIT (earnings before interest and taxation) of €529m ($584m) earned in the first half of ...
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NewsAirfreight volumes on the up for K+N
Logistics services giant Kuehne+Nagel (K+N) has reported its half-year results for the six-month period ending 30 June.The Switzerland-headquartered company said that while net turnover fell year on year from CHF8,225m ($8,366m) to CHF8,147m ($8,287m), gross profit rose by 8% compared to the first half of 2015, improving from CHF3,018m ($3,070m)to ...
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Terrorism and falling yields dent airline confidence
Airline finance chiefs and heads of cargo said that they do not expect profits to improve over the next 12 months, according to IATA’s latest quarterly survey of airline business confidence.The results, based on a survey carried out in early July, also show that industry profitability fell slightly year-on-year during ...
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IATA and FIATA hail partnership of equals in new-look agency programme
The International Air Transport Association (IATA) and the International Federation of Freight Forwarders Associations (FIATA) have unveiled long-awaited reforms to the IATA Cargo Agency Program, promising to treat forwarders as equals alongside airlines.Following a review initiated in 2012, the new IATA-FIATA Air Cargo Program (IFACP), signed today by IATA director ...
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Air industry to raise its game in Africa
The International Air Transport Association (IATA) and The African Union Commission (AU) have agreed a memorandum of understanding (MoU) to improve air transport.Signed in Geneva by IATA director genera and chief executive, Tony Tyler and the AU’s commissioner for infrastructure and Energy, Dr. Elham Mahmoud Ahmed Ibrahim, it aims to ...
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Qatar becomes cargo carrier number three
Qatar Airways Cargo became the third-largest cargo operator in the world in October 2015, said the Middle East carrier in its 2015/16 annual report.In what it described as a record year, Qatar increased its dedicated freighter destinations to 54, adding Dallas, Budapest, Prague, Ho Chi Minh City, and New York ...
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E-AWB penetration continues to rise in May
Electronic-air waybill (e-AWB) usage remained on a growth trajectory in May, after the surprise drop-off in penetration in March.Figures from IATA show that in May e-AWB penetration reached a new record of 39%, compared with 38.3% in April.While there was an increase, question still remain as to whether usage levels ...
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FedEx boosted by e-commerce and lower fuel costs, commits to six more freighters
Express services giant FedEx has reported on its fourth-quarter results for its 2016 fiscal year (three months ending May 31), as well as its full fiscal year results.Revenue rose year on year in the results for both the fourth-quarter (up to $13bn from $12.1bn in the same prior year quarter) ...
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Volga-Dnepr Group inks financial accord with Sberbank
Russian airline enterprise Volga-Dnepr Group agreed a new strategic cooperation agreement with Sberbank, Russia’s largest bank, at the recent St. Petersburg International Economic Forum.The deal was inked by Maxim Poletaev, first deputy chairman of the Executive Board of Sberbank, and Alexey Isaikin, president of Volga-Dnepr Group.Volga-Dnepr Group has confirmed through ...
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Lufthansa Cargo to shed 800 jobs worldwide
Lufthansa Cargo is to shed up to 800 jobs worldwide in order to cut costs, management at the German carrier have announced.As part of its "Cargo Evolution" plan the German cargo carrier said it aimed to reduce the number of full time employees by between 700-800 positions, a move that ...
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Qantas completes share buy-back
The Qantas Group has completed the $500m share buy-back announced at its half year results in February 2016.Combined with the $505m capital return and associated share consolidation completed on 6 November 2015, Qantas Airways ordinary shares on issue have decreased by 12.6% since 30 June 2015 and the group has ...
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Venezuela blocking $3.8bn in airline funds says IATA
Venezuela and Nigeria top an IATA list of five countries blocking the repatriation of airline funds, a global problem which exceeds $5bn in total.IATA has called on governments to respect international agreements obliging them to ensure airlines are able to repatriate their revenues.According to statistics issued by IATA, Venezuela is ...
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IATA urges greater co-operation to counter terror threat
IATA, at its 72nd Annual General Meeting (AGM), has unanimously adopted a resolution that denounces terrorism and calls for intensified cooperation among governments as well as with the air transport industry.The resolution calls on governments and the air transport industry to work in partnership among themselves and with airlines to ...
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Banks expand ATSG's secured credit facility
US freighter lessor Air Transport Services Group (ATSG) has obtained commitments for an expansion of the revolver portion of its secured credit facility with a consortium of banks led by SunTrust by $100m, to $425m.ATSG, which in March signed a deal with internet retail giant Amazon to operate an air ...