Business – Page 114
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Jetpak flies in to the UK
Door to door courier Jetpak has extended its service to the UK, following its recent expansion into the Netherlands market. The Nordic-based company says that it will use commercial flights from and to London Heathrow, Birmingham, Manchester and Aberdeen to offer connections to over 140 airports in Europe and Scandinavia.Jetpak ...
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FedEx-TNT deal edges forward
FedEx’s potential $4.8bn takeover of TNT has edged further forward as the US express giant has filed regulatory paperwork to the European Commission.Over the weekend, the New York Stock Exchange-listed logistics company confirmed it had submitted the required filing to the EC to obtain regulatory clearance in connection with the ...
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CAAC denies Chinese cargo carrier merger remarks
The Civil Aviation Authority of China has denied remarks attributed to it that suggest the country’s leading air cargo carriers are set to merge.Yesterday, news agency Reuters carried reports suggesting that China's Civil Aviation Administration deputy director Zhou Laizhen had said that Air China Cargo, China Cargo Airlines and China ...
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Chinese cargo carriers set for merger?
Update: Three of China’s largest cargo airlines look set to merge in a move that would form Asia’s largest airfreight carrier.According to Reuters, China's Civil Aviation Administration deputy director Zhou Laizhen said on Wednesday night that Air China Cargo, China Cargo Airlines and China Southern Cargo were exploring merger options.No ...
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Volga-Dnepr eyes billion dollar B747-8F expansion
Volga-Dnepr has signed a memorandum of understanding with Boeing to further its fleet expansion with 20 additional B747-8 freighters, with a list price value worth $7.4bn.The additional 20 airplanes will be acquired through a mix of direct purchases and leasing over the next seven years, the companies said in a ...
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IATA announces Dublin as 2016 AGM venue, while new chairman takes over
IATA has unveiled its new chairman and announced the venue for its next annual general meeting.The association has announced that Aeromexico chief executive Andres Conesa has assumed his duties as Chairman of the IATA board of governors for a one-year term.Conesa succeeds Calin Rovinescu, chief executive of Air Canada, whose ...
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IATA and animal convention team-up to fight illegal animal trade
IATA and the Secretariat of the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) have signed a Memorandum of Understanding to cooperate on reducing illegal trade in wildlife and ensuring the safe and secure transport of legally traded wildlife.The agreement will see the two groups ...
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Oneworld alliance gets new chairman
The oneworld alliance has nominated Cathay Pacific’s Ivan Chu as its new chairman, taking over from IAG’s Willie Walsh.Chu, who is Cathay’s chief executive, will act as first amongst equals of the member airlines in his new role.Oneworld chief executive Bruce Ashby said: “We thank Willie Walsh for his leadership ...
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Air cargo needs a technology manifesto for change
Air cargo must abandon inefficient, expensive, out-of-date technology in favour of web-based solutions and e-freight, according to John DeBenedette.The managing director of WIN, the online platform for independent forwarders, has challenged airfreight bosses to adopt a technology manifesto for change.Speaking at IATA’s e-cargo conference and workshop in Geneva, DeBenedette called ...
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FedEx takes axe to 15 freighters
US parcels and logistics giant FedEx has "permanently retired" 15 aircraft and 21 related engines as it continues to “rationalise capacity and modernise its aircraft fleet to more effectively serve FedEx Express customers”.FedEx has taken a non-cash impairment charge of $246m recorded in May 2015 and has also adjusted the ...
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Malaysia Airlines technically bankrupt
The chief executive of Malaysia Airlines has said the company is technically bankrupt, following on from the appointment of an administrator to oversee the transfer of selected assets and liabilities to a new company.Speaking at a news conference Christopher Mueller, who took over the chief executive role in May, said ...
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DHL invests $108m in Cincinnati hub upgrade
Express parcel giant DHL is investing $108m to expand its Americas hub facility at Cincinnati/Northern Kentucky airport (CVG) to meet the demands of continued growth in international e-commerce and global trade.The expansion will provide more gates to accommodate additional aircraft, warehouse space and new equipment to provide more capacity for ...
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Panalpina to buy Egyptian agent
Panalpina is to acquire its Egyptian agent for the last 20 years, Afifi, a family-owned company specialising in freight forwarding, customs clearance and logistics. Terms were not disclosed.The move is an important step in Panalpina’s continued strategic expansion in growth economies, in particular in the Middle East and Africa. Afifi ...
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Etihad Cargo the star performer
The rapid growth of Etihad Airways and its cargo division was confirmed in its 2014 annual report, with overall revenues and profits increasing by double-digit levels and cargo revenues breaching the billion dollar mark.During 2014, Etihad Cargo recorded a 19.2% year-on-year increase in cargo revenue to $1.11bn on the back ...
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ASL to boost stake in India's Quikjet
Dublin-based ASL Aviation Group has received regulatory approval to increase its shareholding in India’s Quikjet Cargo Airlines to 72.6%.The Indian government’s Foreign Investment Promotion Board (FIPB) has approved the application for ASL to increase its 51% holding through a subsidiary, Farnair Switzerland.The approval comes a few months before the planned ...
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Regulators take to the TIACA stage on advance data rules
Regulators and the air cargo industry must continue to work closely if impending advance data rules are not to impede cargo flows, delegates at TIACA’s Executive Summit (ES) were told.Regulators from Europe, the US and Canada formed a panel for the first time to engage with industry at the event, ...
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TIACA aims to drive the airfreight agenda
TIACA’s new leadership team have outlined their vision for the group to members at a meeting in Miami.Speaking at the association’s executive summit and annual general meeting in Miami, new chairman, Sanjiv Edward, and vice chairman, Sebastiaan Scholte, said TIACA should aim to drive the airfreight advocacy agenda, boost the ...
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Toronto to host TIACA air cargo forum
TIACA’s 2018 Air Cargo Forum (ACF) will take place in Toronto, Canada, Secretary General Doug Brittin has confirmed.The biennial ACF brings together supply chain decision makers from across the globe for three days of networking, discussion, and learning.“We are excited to be bringing the event back to North America for ...
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Asia carriers close to break-even in 2014
Asia Pacific airlines operated at close to break-even in 2014, compared to a net profit of $2.2bn in 2013.Preliminary financial performance figures released by the Association of Asia Pacific Airlines (AAPA) show that stiff competition, excess capacity, high fuel costs and Asian currency volatility were the major drag on results.This ...
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SIA Cargo operating loss narrows to S$22m
SIA Cargo made a S$22m operating loss in the 2014-15 financial year, compared with a S$100m loss in prior year as it benefited from a “moderate recovery” in air cargo demand and “diligent capacity management”.The Singapore carrier's cargo load factor - it operates eight B747-400s - improved 0.8 percentage points ...