Business – Page 11
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NewsSwissport Tanzania gains IATA CEIV Fresh certification
Photo: SwissportSwissport Tanzania has been awarded IATA CEIV Fresh certification for its air cargo logistics operations at Julius Nyerere International Airport in Dar es Salaam (DAR).The new certification positions Swissport as the only air cargo handler to meet this standard at Julius Nyerere International Airport.The achievement in Tanzania complements Swissport’s ...
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NewsIATA stats show 18% increase in cargo demand for January
Air cargo demand increased by a "remarkable" 18.4% year on year in January - the second month in a row of double-digit percentage increases.IATA data shows that as well cargo tonne kms (CTK) increasing in January, available capacity was up 14.6% year on year as belly space continued to be ...
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NewsE-commerce and perishables lift K+N after Q4 airfreight volume decline
E-commerce and perishables business helped soften the blow of a drop in airfreight volumes for Kuehne+Nagel (K+N) in the fourth quarter.Airfreight volumes at K+N dropped 2.2% to 533,000 tonnes in the fourth quarter of 2023 compared to the same quarter in 2022.Net turnover in Kuehne+Nagel's (K+N) air logistics division in ...
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NewsCMA CGM completes Bolloré Logistics acquisition
Rodolphe Saadé (left) and Cyrille Bolloré. Photo: CMA CGMThe CMA CGM Group has completed its largest acquisition since its formation with the takeover of Bolloré Logistics from the Bolloré Group.This follows the European Commission's recent approval of the acquisition, which has an approximate purchase price of €4.850bn.The transfer of Bolloré ...
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IAG Cargo revenues drop 28% year on year
IAG Cargo saw a steep drop in year on year commercial revenues in 2023 against a backdrop of sustained soft air cargo demand in the industry.The cargo division of International Airlines Group (IAG) reported commercial revenues of €1.2bn for 2023, 28.4% down compared to 2022.Cargo volumes, measured in cargo tonne ...
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NewsBolloré's contract logistics business grows with acquisition
Photo: Bolloré LogisticsBolloré Logistics' contract logistics subsidiary, Bolloré Solutions Logistiques (BSL) has acquired STEF Logistique Santé (SLS) to grow its contract logistics business and strengthen its expertise in the pharmaceutical industry.SLS, the healthcare subsidiary of France-based Stef Group, employs 85 people at three different sites in Strasbourg (Port du Rhin). ...
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Lower leasing demand takes the shine off ATSG earnings
Reduced demand for aircraft leasing, passenger operations and flying for the US military combined to pull down revenue at ATSG (Air Transport Services Group), said the company in its fourth quarter 2023 results.Wilmington, Ohio-based ATSG, which is the world’s largest owner and operator of converted Boeing 767 freighter aircraft, said ...
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Freightos tops a million transactions
Freightos handled over a million transactions in 2023 according to its full-year results, published on 26 February.The digital booking and payment platform achieved a record 287,000 transactions in the fourth quarter of 2023, an increase of 36% year over year to end the year with 1,025,000 transactions.Freightos said it had ...
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European Commission approves CMA CGM takeover of Bolloré Logistics
The European Commission has approved CMA CGM's proposed acquisition of Bolloré Logistics, bringing the shipping giant one step closer to growing its multimodal market share.CMA CGM Group entered into exclusive negotiations with the Bolloré Group to acquire Bolloré Logistics’ transportation and logistics activities in April last year. The deal is ...
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NewsTIACA to launch carbon offsetting programme
Source: Love Silhouette/shutterstockTIACA is launching a carbon-offsetting programme to help smaller companies invest in reducing their impact on the climate.The Climate Action Platform will go live in the coming days and will provide companies with an initial portfolio of six carbon-offsetting projects.TIACA worked with carbon consultancy South Pole to select ...
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NewsQCS and Team Global Logistic to expand reach with merger
Source: QCSQuick Cargo Service and Team Global Logistic will merge their businesses with the aim of expanding the reach of service.The two companies said that union is "poised to enhance service offerings, expand global reach, and deliver unparalleled value to customers worldwide".QCS announced the deal this week and said that ...
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ECS Group back on the acquisition trail
The ECS Group is back on the acquisition trail following a break in activity due to the Covid crisis.The general sales and service agent (GSSA) has announced three takeover deals in the past three months and executive chairman Adrien Thominet says there are more deals in the pipeline.Explaining the decision ...
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US couple found guilty of fraud against National Air Cargo
Two people have been found guilty of defrauding US logistics company National Air Cargo of $5m in a wire fraud scheme that lasted two years.The US Attorney’s Office for the District of Colorado found married couple Michael Aaron Tew and Kimberly Ann Tew guilty of fraud following a guilty verdict ...
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Airfreight rates slide in line with Lunar New Year holiday demand decline
Airfreight rates began their Lunar New Year holiday decline last week after rising in the first six weeks of the year.The latest figures from TAC Index show that last week overall airfreight rates slipped by 8.2% compared with the week before and are down 21.2% from a year ago."Despite ongoing ...
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NewsAlaska Air Group acquisition of Hawaiian gets go ahead
Photo: Hawaiian AirlinesAlaska Airlines has been given the green light to acquire Hawaiian Airlines after the latter's stockholders approved the deal that is set to boost cargo within the combined business.Seattle-based Alaska Air Group and Honolulu-headquartered Hawaiian Holdings entered into a definitive agreement for the acquisition in December last year. ...
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NewsAir Canada cargo revenues drop 27% in 2023
Air Canada's full year 2023 cargo revenues declined 27% year on year due to reduced air cargo demand and a loss of capacity in the form of temporary passenger freighters (preighters).The airline said the decline of C$342m was partially offset by increased operations of purpose-built freighters in its cargo business, ...
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India's air cargo industry sets ambitious growth targets
India has set an ambitious target of reaching 10m tons of air cargo handled per year by 2030, attendees at the Air Cargo India event in Mumbai were told.“This is India’s time for growth,” said Sanjiv Edward, chief executive – cargo and logistics at the GMR Group which operates Delhi, ...
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NewsIATA's WCS focuses on driving sustainable and inclusive growth
Source: IATAAir cargo is an unsung hero of the global economy. In normal times, it delivers some 35% of the value of goods traded across borders. In the pandemic, air cargo brought medical supplies and vaccines to where they were needed.And today it is providing a vital transport alternative for ...
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NewsMaersk weighs up DB Schenker bid
Source: ricochet64/Shutterstock.comShipping giant AP Moller Maersk says it would now consider making an offer for top-4 airfreight forwarder DB Schenker after previously dismissing the idea.Speaking after announcing its fourth-quarter results, chief executive Vincent Clerc said the company had now changed its mind on a possible bid for the forwarder given ...
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Neutral Air Partner and Cargo iQ tackle standards
Neutral Air Partner has launched a partnership with IATA interest group Cargo iQ to improve data visibility for customers.The two organisations seek to improve quality, efficiency and reliability in the air cargo sector.“Because of this new cooperation between Neutral Air Partner and Cargo iQ, we have jointly brought even more ...