Business – Page 111
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TIACA calls for solutions to EU migrant crisis
The International Air Cargo Association (TIACA) has called on world leaders to work together to find solutions to the ongoing refugee crisis in Europe.More than 514,000 people have crossed the Mediterranean Sea to reach Europe, with almost 3,000 people perishing on the journey or reported missing.“We must act together now ...
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Air Partner cargo arm remains a key component
Air Partner, the UK-based global aviation services group with a cargo charter division, saw half year gross profit rose by 13% to £12.1m while underlying operating profit and underlying profit before tax doubled to £2.2m.Mark Briffa, chief executive of Air Partner, commented: "Our first half performance is a great testament ...
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GEFCO says more acquisitions to come following IJS Global deal
Expansionist logistics firm GEFCO will target more acquisitions, following yesterday’s move for forwarder IJS Global, as it strives to double its turnover.The Russian Railways majority-owned company has ambitions to increase turnover from €4bn to €8bn by 2020.As part of this growth, forwarding arm GEFCO Overseas has the target of increasing ...
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Hungry XPO to buy US trucker Con-way for $3bn
Fast growing XPO Logistics is to buy US trucking and logistics company Con-way for $3bn, including debt, making it the second largest provider of less-than-truckload services in North America.Deep-pocketed XPO said that its latest logistics takeover - it acquired Europe’s Norbert Dentressangle for $3.2bn in June - will expand the ...
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Nippon Cargo axes $1.5bn order for B747-8F quartet
Nippon Cargo Airlines (NCA) has cancelled an order with Boeing for four B747-8 freighters, worth $1.5bn, but still has two more set for delivery, the US plane maker has confirmed.NCA, one of the launch customers for the 747-8 freighter in 2005, currently operates five Boeing 747-400Fs and eight 747-8Fs, according ...
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Aeroflot steps in with Transaero takeover
Leading Russian airline Aeroflot is to acquire the assets and routes of debt-laden private carrier Transaero.The country’s second largest airline got into financial difficulties after the Ukrainian crisis and the resulting European and American sanctions again Russia, the resultant weaker Rouble in turn triggering a serious decline in its core ...
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Steady growth for Air China Cargo
Air China Cargo recorded "steady growth" in the first half of 2015, as revenue freight tonne km increased by 23.5% year-on-year to 3,166m and the load factor rose 0.47 percentage points to 54.41%.The cargo yield (excluding fuel surcharge) was RMB1.11, a year-on-year increase of 0.20%.Parent carrier Air China said that ...
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Hong Kong and Taiwan boost Kerry interims
Hong Kong-based logistics firm Kerry Logistics Network showed little sign of the Chinese financial crisis in its interim results for the six months ended 30 June.However, group managing director William Ma warned that the global economy “continued to be plagued with volatility in the first half of 2015” although its ...
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Nigeria looks to set up new national carrier
The Nigerian Government has set up a committee to look into re-establishing a national airline.It will be chaired by former Discovery Airlines chairman, Captain Mohammed Abdulsalam, and is tasked with reviewing reports by previous consultants and the collapse of the now defunct Nigeria Airways, along with other failed private carriers.The ...
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Vienna bids to raise Malta stake
Flughafen Wien (Vienna Airport) is to make a €3 per share offer for Canadian-based SNC Lavalin’s stake in Malta International Airport.Since the Mediterranean island airport was privatised in 2002, 40% of it has been held by Malta Mediterranean Link Consortium, in which Flughafen Wien AG has a 57.1% holding via ...
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Tex Gunning to leave TNT CEO role if FedEx succeeds in takeover bid
TNT Express chief executive Tex Gunning will be replaced by David Binks if FedEx’s $4.8bn takeover, due to be launched on Monday, is successful.The two companies today announced that, on Monday, FedEx will make its recommended public cash offer for all the issued and outstanding ordinary shares of TNT Express.The ...
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Cathay Pacific sees H1 air cargo load factor improve, but yields slide
An improved cargo load factor at Cathay Pacific and Dragonair was not enough to stop a decline in yield as industry overcapacity and lower fuel surcharges had an effect on the airline group’s first-half performance.The world’s largest cargo airline group recorded a 2.5% year-on-year decline in first-half revenues of HK$11.4bn, ...
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Cargo revenues slide at Turkish Airlines
Turkish Airlines continued to report improved profits during the second quarter of the year, but revenues at its cargo division declined once again.The Turkish flag carrier recorded an overall net profit of $253m during the second quarter of the year compared with $190m during the same period last year.2015 half-year ...
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Geodis to buy logistics operator OHL
French global forwarder Geodis has entered into an agreement to acquire US-based third party logistics operator Ozburn-Hessey Logistics (OHL) for an undisclosed amount.The number four European supply chain operator said that OHL will be rebranded “in time” under the Geodis banner.Geodis, 100% owned by French railways subsidiary SNCF Logistics, has ...
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LATAM sees air cargo revenues fall as South American economies continue to struggle
LATAM recorded declines in air cargo revenues and volumes during the second quarter as it faced difficult economic conditions in South America.The newly rebranded airline group saw second-quarter cargo revenues decline by 21.3% to $334m compared with a year earlier as a result of a 12.5% decline in traffic to ...
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Finnair Cargo sees revenues and traffic slide in the second quarter
Finnair Cargo saw revenues, volumes and yields decline during the second quarter of the year as its withdrawal from Asia-Europe freighter operations and tough market conditions had an impact of results.The Helsinki-headquartered operator saw second-quarter revenues decline by 23% on last year to €45.1m while cargo traffic declined by 19.2% ...
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Cargojet in second quarter loss despite revenue surge
Canada-based Cargojet, overnight airfreight operator, saw 2015 second-quarter revenues leap 69.6% to C$75.2m, due mainly to its new domestic airlift contract with Canada Post.But the Toronto-listed company recorded a C$6.1m loss for the quarter and a C$14.4m for the half year to June 2015.Ajay Virmani, president and chief executive, said: ...
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How did Europe's busiest air cargo carriers perform in the second quarter?
The second-quarter results are in and at first glance two out of Europe’s three largest listed cargo carriers appeared to have performed well at a revenue level.Both Lufthansa Cargo and IAG Cargo recorded year-on-year growth in revenues, of 6.2% and 8.8% respectively, however this was heavily influenced by exchange rates, ...
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UPDATE: DHL airfreight volumes decline as it turns away business to protect margins
Freight forwarder DHL Global Forwarding's decision to turn away airfreight business to protect profits in the first half of this year resulted in a decline in volumes.The Bonn-headquartered forwarder recorded a 7.2% year-on-year decline in airfreight exports during the second quarter to 530,000 tonnes, while the half-year result was down ...
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Logistics M&A set to continue say PwC
Strong 2015 second quarter merger and acquisition (M&A) activity within the transport and logistics industry looks set to continue, says the latest survey by business consultants PwC.The latest quarterly Intersections analysis by PwC found that transport and logistics sector deal activity saw improvements in both volume and value, driven by ...