Business – Page 115
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IATA pushes for trade facilitation
Air cargo will be a key beneficiary of an initiative looking to support developing countries implement the World Trade Organization (WTO) trade facilitation agreement.IATA and the United Nations Economic Commission for Europe (UNECE) have signed a Memorandum of Understanding (MoU) to strengthen their support for the WTO agreement that could ...
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Damco sees $9m loss as airfreight dives
Damco, the troubled logistics arm of Danish shipping giant AP Moller-Maersk (APMM), made a $9m loss in the first quarter of 2015 as its airfreight volumes fell 19%.The division's total supply chain revenue fell nine percent, year on year, to $683m for the January to March 2015 period, of which ...
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TIACA’s Air Cargo Professional Development Workshop will take place in Cologne on 22-24 June
The Strategic Aviation Solutions International-designed session, which aims to improve management skills for air cargo professionals, will give participants an appreciation of the entire air cargo supply-chain by encouraging discussion and the sharing of perspectives, as well as providing practical advice and insight.It will be led by SASI’s Lilian Tan ...
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Delhi's Edward and Scholte of Jan de Rijk to lead TIACA
Sanjiv Edward, head of cargo business at Delhi International Airport, has been named as the next chairman of the International Air Cargo Association (TIACA), with Sebastiaan Scholte, chief executive of Jan de Rijk Logistics, named vice chairman.The pair will formally take over this month from Oliver Evans and Enno Osinga ...
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Deutsche Post's weak forwarding arm hits Q1 operating profits
First quarter 2015 airfreight volumes at German logistics giant Deutsche Post DHL rose by just 0.3 per cent to 935,000 tonnes, with group operating profits hit by the “weak performance” of the Global Forwarding and Freight business.Although the forwarding unit’s quarterly reported revenues increased by 7.6 per cent to €3.8bn, ...
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FedEx and TNT deal on track but clearance could take a year
TNT Express has provided an update on its planned $4.8bn takeover by FedEx, stating that the two companies are making timely progress on preparations for the offer but reiterated that it could take a year to gain regulatory clearance.TNT said that FedEx expects to submit a request for review and ...
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US cartel case settlements break the $1bn mark
SETTLEMENTS in the ongoing US air cargo antitrust litigation have exceeded the $1bn mark, following on from Eva Airways Corp reaching an agreement.US lawfirm Robins Kaplan revealed that the Taiwanese airline yesterday reached a $99m partial settlement to compensate victims of the alleged cartel.Hollis Salzman, co-lead counsel for the plaintiffs ...
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Cargolux reports 2014 profit decline
Cargolux recorded a decline in profits in 2014, despite an improvement in revenues, as impairment charges and antitrust actions took their toll on Europe’s biggest all-cargo airline.The Luxembourg-based company saw net profits slip to $3m in 2014 from $8.4m a year earlier, while revenues increased to $2.1bn last year from ...
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IAG Cargo Q1 revenues down, but load factors up
IAG Cargo reported a 2015 first-quarter decline in revenues of just over one per cent on the back of a capacity reduction programme and a resultant volume decrease.During the first three months of the year, the British Airways and Iberia cargo division saw revenues decline by 1.6 per cent on ...
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Lufthansa delays the construction of new Frankfurt cargo centre
Lufthansa has delayed its planned investment in a new cargo centre at Frankfurt airport for at least two years as the group scrutinises its investment plan.At this week's Lufthansa Group general meeting the supervisory board of the Deutsche Lufthansa was informed of the decision to delay construction of the LCCneo ...
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TIACA promotes phased approach to advance data regulations
Regulators must continue to work closely with all members of the air cargo supply chain to ensure impending advance data regulations “enhance security without impeding cargo flows,” according to a new position paper from TIACA.Pre-loading advance cargo information (PLACI) initiatives undertaken by the US, European Union, and Canada since the ...
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ACS sees 2014 cargo recovery as revenues surge
Air Charter Service (ACS) reports an “extremely successful 2014” for all three of its divisions.Chris Leach, chairman of the UK-headquartered broker, observed: “The figures across the board are extremely pleasing. Every department – private jets, commercial airliners, group travel and cargo – grew in terms of revenue and number of ...
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Cargolux announces lithium ion battery ban
Cargolux Airlines has temporarily imposed a ban on the transport of lithium ion batteries from May 1.The airline said it had decided to implement the ban after reviewing new information released by the Federal Aviation Administration, Boeing and the International Civil Aviation Authority regarding the effectiveness of the on-board fire ...
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No update on FedEx deal as TNT reports Q1 loss
TNT Express was unable to provide any updates on its potential acquisition by FedEx as it announced a first quarter loss despite an improvement in revenues.The integrator reported a 1.3% year-on-year increase in first quarter revenues to €1.6bn, but operating income for the period slipped to a €11m loss from ...
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AN-124 paint job to save $100,000 in fuel per year
A fresh lick of paint for an An-124-100 will give Volga-Dnepr Airlines an expected fuel saving of over $100,000 a year.The freighter will be painted using a leading durable coating technology to increase the aircraft’s aerodynamic qualities.Vladimir Drebnev, senior engineer, continuing airworthiness at Russian-based Volga-Dnepr, stated: “The base coat/clear coat ...
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FedEx-TNT deal to create third force in express
FedEx’s planned takeover of rival carrier TNT would create a third force in the express market – and unlike UPS’ attempted takeover 2½ years ago, it would succeed, the leaders of the two companies predicted at a press conference this morning.The acquisition would bring TNT’s “exceptional” road platform into the ...
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Panalpina airfreight volumes hit by lower automotive
Panalpina’s airfreight volumes grew one per cent in the 2015 first quarter to 205,000 tons - against an estimated market growth of three to four per cent - due mainly to lower throughputs in the automotive sector. Despite the airfreight result, the Switzerland-based global logistics player saw group consolidated profit ...
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Freight bounce for Air Partner
UK-based aviation charter specialist Air Partner saw full year group revenues fall 9.2 per cent to £192.1m and underlying profit before tax down from £4.1m to £2.6m for the twelve months ended January 2015.However, investment in the freight division “has started to show returns with excellent improvements in sales and ...
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TNT air fleet purchasers waiting in the wings
FedEx has already identified potential purchasers of TNT Express’ air operations, says FedEx chief executive David Bronczek.He was speaking at a press conference to announce US-based FedEx’s $4.8bn takeover of European rival TNT Express in a deal set to complete in 2016, subject to regulatory approval.However, it is not yet ...
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ULD pioneer Jim Jackson enters TIACA's Hall of Fame
James ‘Jim’ Jackson, a driving force behind the standardisation of aircraft Unit Load Devices (ULD) and the supporting aircraft and ground-handling technical requirements, has been welcomed to The International Air Cargo Association’s (TIACA) Hall of Fame.Jackson is an air-cargo handling and logistics innovator, a lifelong champion of international standardization, and ...