Business – Page 107
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News
Damco back in profit for 2015
Damco, the freight forwarding arm of Danish maritime giant AP Moller-Maersk (APM), moved from an underlying $225m loss in 2014 to an underlying $15m profit in 2015 as its airfreight volumes fell by 4%.“Productivity improvements, overhead cost reductions and growth in supply chain management activities were the primary drivers behind ...
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SIA Cargo Q3 profits down despite demand jump
Singapore Airlines Cargo saw operating profits decline in its fiscal third quarter despite an increase in demand.SIA Cargo recorded an operating profit of S$2m during the October-December period compared with a S$17m profit during the same period in 2014.It said the decline was down to yields declining by 13.5% as ...
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Difficult end of year for Latin American carriers
Latin American airlines saw cargo demand slip by 425m freight tonne km in 2015 as weakening economic conditions continued to affect airline performance.The end-of-year figures from the Latin American & Caribbean Air Transport Association (ALTA) show that cargo demand for its 11 member airlines ended the year 8.2% down on ...
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So near and yet so far: airfreight industry misses e-AWB target
As expected, the air cargo industry fell short of meeting IATA’s end of year target for e-air waybill (e-AWB) market penetration, but the organisation remains optimistic about prospects for 2016.IATA today announced that the airfreight industry managed to achieve an e-AWB penetration of 36.4%, short of its 45% target for ...
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RiverOak applies for Manston airport reopening
US hedge fund RiverOak has made a pre-application inquiry to UK planning inspectors for a Development Consent Order (DCO) to reopen Manston airport in the south-east of the country, primarily as a freight gateway.The UK's Planning inspectorate confirmed that it had received a pre-application inquiry from RiverOak in early January. ...
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NewsUS airlines see cargo revenues slide
The three major US airlines saw cargo revenues decline last year as volumes slid and lower fuel prices had an effect on takings.The busiest of the airlines in cargo terms was United, which was the only one that managed to record an increase in cargo volumes compared with 2014 levels, ...
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Air cargo advance data filing: known and unknowns
To paraphrase former US defense secretary Donald Rumsfeld: “There are known knowns, there are known unknowns…but there are also unknown unknowns…things we don't know we don't know.”Regulators looking at advanced data filing for air cargo shipments have reached a similar conclusion.At last week’s meeting in Geneva of the ICAO and ...
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Moves for temporary lithium batteries ban welcomed by pilots
A US pilot association has welcomed moves to introduce a temporary ban on the transport of lithium batteries on passenger aircraft but said this won’t resolve risks for air cargo freighters.The Air Line Pilots Association International (ALPA) has welcomed the International Civil Aviation Organization’s (ICAO) Air Navigation Commission’s work in ...
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Shanghai Air Cargo Summit set for June
Shanghai will play host to Air Cargo Summit, a new industry networking event taking place at the Hyatt on the Bund from 12-15 June 2016.The event will see visits to Air Cargo China & Transport Logistics China, taking place from 14-16 June at the Shanghai New International Expo Centre, and ...
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News
Antonov denies liquidation reports
Antonov has denied reports that the company has been liquidated, pointing out that the manufacturer has actually been transferred to a different state concern.Several media reports have carried stories on the demise on the iconic aircraft manufacturer over the last few days.In response, the company said it had transferred the ...
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'Marginal' 2015 cargo growth for Asia Pacific airlines
Asian Pacific airlines saw a “marginal increase” in cargo markets during 2015, while passenger traffic recorded “robust growth”.Preliminary full year 2015 traffic figures released by the Association of Asia Pacific Airlines (AAPA) saw international air cargo demand, measured in freight tonne km (FTK), register a 1.6% increase for the year, ...
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'The best of times and the worst of times'
IT WAS the best of times, it was the worst of times, the age of wisdom, the age of foolishness, according to Charles Dickens in A Tale of Two Cities.He might well have been talking about global air cargo in the year 2012. At the start of 2013, there are ...
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We’re in this together
MEANINGFUL partnerships may be the new way forward for competing air cargo companies.When there is too much capacity, when prices are at rock bottom and yields are in decline, when shippers are modal-shifting to sea, when economies of scale are desperately required – maybe that is the time to turn ...
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Munich subsidiary buys Berlin airport ground handler
Southern Germany airport group Flughafen München (FMG) has expanded its ground handling operations in Berlin with the purchase of a Spanish-owned operator at the capital’s Tegel Airport (TXL).AeroGround Flughafen München, a ground handling subsidiary of FMG, has acquired the established ground handling companies Acciona Airport Services Berlin and HSD Flughafen.A ...
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Atlas Air to acquire Southern Air in $110m takeover
Atlas Air Worldwide Holdings has entered into a definitive agreement to acquire privately held Southern Air Holdings, a US provider of intercontinental and domestic air cargo services.The deal is "an immediately accretive, all-cash, debt-free transaction" valued at approximately $110m, said Atlas.The transaction is subject to customary closing conditions and approval ...
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War of words erupts between powerful new airline group and leading airports association
Five of Europe’s largest airlines have formed a new association to lobby against rising costs and have immediately taken aim at the continent’s airports.The new Airlines for Europe (AFE) group has been formed by IAG, Air France-KLM, Lufthansa, easyjet and Ryanair and hopes to attract more members over the coming ...
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Aramex buys Fastway Couriers in New Zealand
Dubai-based logistics operator Aramex has expanded its footprint in the Asia-Pacific region with the 100% acquisition of Fastway Couriers in New Zealand for NZ$125m.Established in 1983, Fastway Couriers' global network includes 63 regional depots and 1,500 courier franchisees across Australia, New Zealand, Ireland, Northern Ireland and South Africa. With more ...
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Advanced data talks continue
TIACA has been involved in talks with regulators over the development of a Pre-Loading Advance Air Cargo Information (PLACI) system to help countries looking to establish advanced data requirements.At the fifth session of the International Civil Aviation Organization (ICAO) and the World Customs Organization (WCO) Joint Working Group on advance ...
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DSV clears final regulatory hurdle in $1.35bn takeover of UTi
South Africa's antitrust authority has given its approval for DSV's $1.35bn takeover of UTi, the last country regulator to do so, clearing the way for the transaction to close later this week.Shareholders at US logistics player UTi have already voted in favour of the offer from the Danish forwarder, a ...
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Southern comfort as Atlas swoops for ACMI rival
Atlas Air Worldwide Holdings has entered into a “definitive agreement” to acquire privately held Southern Air Holdings for $110m, a deal that brings together two US-based ACMI service providers with a combined fleet of more than 75 aircraft.The transaction, with Atlas Air using “available cash on hand” to complete the ...