Business – Page 110
-
News
American joins Delta and United in reporting Q3 cargo revenue decline
American Airlines saw cargo revenues decline during the third quarter of the year, although the drop was not as strong as that experienced by Delta.American saw its cargo revenues decline to $180m (see tables below) during the third quarter of the year, a drop of 16.3% compared with the same ...
-
News
Ocean giant issues results downgrade
Airfreight’s largest modal competitor, deep sea container shipping, is feeling the pinch.Danish ocean freight giant AP Moller-Maersk, has today issued a 2015 results adjustment after “market conditions worldwide have been weaker than the group expected”.AP Moller-Maersk said that its boxship division, Maersk Line, saw that the container shipping market “deteriorated ...
-
News
Africa: Home-grown talent boosts all-cargo sector
To date, there have been few African freighter operators on the continent, and almost no all-cargo carriers. That has started to change with the arrival of Astral Aviation in Kenya and Khuphuka Kings Airways in South Africa.Khuphuka, operating out of Durban King Shaka airport, started cargo services in early 2014 ...
-
News
Stand-alone success for Europa Air & Sea
The Europa Air & Sea division of logistics operator, Europa Worldwide Group, said its airfreight import volumes grew 3% in August 2015 compared with the same month last year.Dartford, UK-based Europa Worldwide Group said its Air & Sea division had gone “from strength to strength” after it was launched as ...
-
News
Finance expert sees freed-up freighter market
A range of financing options are expected to remain open for new and used freighters, according to one speaker at the Freighters and Belly Cargo Conference.President and managing director of Guggenheim Aviation Partners, Paul Newrick told delegates that he expected there to be ongoing access to diverse forms of finance ...
-
News
Airfreight demand edges up but "all is not well", says IATA
Airfreight volumes edged up slightly in August following on from a decline in July, but Asian and North American carriers still registered a slide in demand for the month.The latest seasonally adjusted demand data from IATA shows that airlines recorded a 0.2% year-on-year increase in freight tonne km (FTK) in ...
-
News
European airlines see cargo volumes fall in September
Major European airlines had another tough month in September as IAG Cargo, Lufthansa and Finnair all recorded cargo volume declines, although Air France KLM did see a strike-related increase.The busiest of the four carrier groups, Lufthansa, continues to have a tough year as volumes continue track behind last year's levels.In ...
-
News
K+N airfreight volumes up 5.1% in stagnant market
Kuehne + Nagel (K+N)outpaced a “stagnating airfreight market” to grow its own volumes by 5.1% in the first nine months of 2015.The Switzerland-based multimodal logistics giant said of its air cargo business: “The increasing demand for specialised services in the industry segments automotive, pharma, aerospace and perishables contributed to this ...
-
News
DSV's takeover of UTi to create world's eighth largest air forwarder
DSV’s takeover of UTi is set to push the Danish firm into the world’s top ten airfreight forwarders from its current position just inside the top 20.Based on 2014 volumes from consultancy Armstrong & Associates, the takeover will see DSV’s airfreight volumes increase to 655,662 metric tons from 287,662.This would ...
-
News
DSV to buy UTi Worldwide for $1.35bn
DSV Group has signed an agreement to acquire US based UTi Worldwide, a global, supply chain services and logistics company with revenue of $3.9bn and 21,000 employees in 58 countries.DSV will pay $7.10 in cash per ordinary share. The total transaction implies an enterprise value of approximately $1.35bn.The combined company ...
-
News
DSV in $1.35bn takeover bid for UTi
Consolidation in global freight forwarding continues, with the announcement that Danish forwarder DSV Group has signed an agreement to acquire US based UTi Worldwide in a deal worth $1.35bn.UTi is a global, supply chain services and logistics company with revenue of $3.9bn and 21,000 employees in 58 countries.“The combined company ...
-
News
How should air cargo companies react to the development of 3D printing?
Expected increases in the use of 3D printing should encourage air cargo companies to begin thinking about how their business should react to the development, according to one speaker at the Caspian Air Cargo Summit.PwC Strategy US vice president Andrew Schmahl told delegates at the conference that the use of ...
-
News
FedEx to benefit from Malpensa cargo expansion
FedEx Express and SEA, the Milan airport management company, have started construction on a new €15m operations base for the US parcels giant at the Italian hub.At more than 35,000 sq m, the highly-automated structure will triple the size of the current FedEx Express facility in Malpensa to become FedEx's ...
-
News
Freighter operators can minimise price war impact through a balanced business
Freighter operators should look to niche markets and block space agreements in order to minimise the impact of rate wars on their business.Speaking at the Caspian Air Cargo Summit in Baku, Silk Way West Airlines senior vice president Pierre Wesner said that all-cargo airlines existed in an overcapacity market but ...
-
News
Platinum Equity completes WFS takeover
Investment fund Platinum Equity has completed the acquisition of global airport cargo handler Worldwide Flight Services (WFS) from LBO France. Financial terms were not disclosed.Platinum’s takeover of WFS – first disclosed in April this year – adds to its aviation portfolio a company present at over 145 major airports in ...
-
News
IATA chief Tyler to step down
International Air Transport Association (IATA) director general and chief executive Tony Tyler is to retire in June 2016 after serving five years. His successor will be appointed at the next annual general meeting in Dublin in June 2016.Before joining the airline organisation in 2011, Tyler worked at John Swire & ...
-
News
TIACA recruits two
The International Air Cargo Association (TIACA) has made two appointments - Warren Jones as director and Kenneth Gibson as business development manager.Warren Jones, who was recently president of IATA’s cargo network services (CNS) arm, will be based at the Miami headquarters where he will develop the association’s sales activities and ...
-
News
Zimmerman to lead Cargo 2000 change programme
Ariaen Zimmerman is the new full time executive director of Cargo 2000 (C2K), an IATA interest group established to lead the drive towards “enhanced quality throughout the air cargo industry”.Zimmerman is leading the group’s change programme, which will see C2K adopt a new auditing system, neutral benchmarks, and “embrace a ...
-
News
Forwarders welcome Transpacific Partnership agreement
The US Airforwarders Association (AFA) and Boeing have welcomed the conclusion of the Transpacific Partnership negotiations.Yesterday, the US, Japan and 10 other Pacific rim nations reached an agreement on what is set to become the world’s largest regional trade agreement.However, the agreement, described as a first step, now needs to ...
-
News
Economic volatility rocks TNT's Q3
Europe-based parcel and logistics operator TNT said that “economic volatility” in Brazil, China and Australia weighed on the takeover target’s third quarter performance.TNT, which is the subject of a $4.8bn takeover bid by US parcels giant FedEx, said in its latest trading update that the management team “remains focused” on ...