Business – Page 12
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News
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 ...
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NewsIATA sets out to show air cargo's worth at WCS
Brendan Sullivan. Source: IATA"Air cargo’s success matters" to the global economy is one of the key messages that IATA'S global head of cargo wants to share at the trade body's 2024 World Cargo Symposium (WCS).Brendan Sullivan has highlighted the importance of growth in the air cargo industry ahead of the ...
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NewsIATA awards safety accreditation to WFS at Heathrow
WFS operations at Heathrow Airport. Photo: WFSWorldwide Flight Services (WFS) has been awarded the IATA Safety Audit for Ground Operations (ISAGO) accreditation for its cargo handling operations at Heathrow Airport.This follows an independent audit of its operational management and control systems in accordance with standards and practices for ground safety.The ...
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News
Challenges and opportunities for air cargo outlined at World Cargo Summit
Things are “going well” for air cargo, delegates at the World Cargo Summit in Bangkok on January 30 were told.Steve Saxon, a partner with McKinsey who leads its Asia Pacific airlines practice, outlined four reasons why the sector is buoyant despite an increasingly fraught world situation, but also signalled some ...
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News
UK forwarders urged to take on apprentices despite uncertain market
UK freight forwarder association BIFA has urged its members to consider recruiting apprentices ahead of National Apprentice Week despite the current market uncertainty.To help drum up support, the association will on February 8 run an online event to help members navigate the "perceived red tape" when recruiting apprentices."Most of the ...
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InsightsSurvey: Air cargo optimistic for the year ahead
Air Cargo News recently carried out a survey of airfreight professionals and found the majority are expecting market conditions to improve this year.The air cargo industry is optimistic the market will improve in the coming year, with expectations that both volumes and rates will increase in 2024.A survey of more ...
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NewsAir cargo volumes up 10% in January but rates weaken
Air cargo volumes rose 10% year on year in January, but this hasn't resulted in higher rates due to the availability of capacity.Shippers' concerns about Red Sea - Suez Canal supply chain delays, plus an early Lunar New Year, have pushed up air cargo volumes, although spot rates have declined, ...
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NewsDSV sees air revenues and volumes tumble in 2023
DSV's airfreight revenues, volumes and gross profits all took a hit last year due to improved ocean shipping operations, high inventories and a weak consumer market.The Denmark-headquartered forwarder reported a 44.1% year-on-year decline in air revenues in 2023 to Dkr50.6bn, gross profit for the year was down 27.9% to Dkr13.4bn ...
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News
UPS to cut 12,000 jobs as market downturn bites
UPS has announced it will cut more than 12,000 jobs as part of efforts to reduce costs in light of continuing market weakness.The express giant's chief executive Carol Tomé said the job cuts would save the company $1bn per year. UPS is also considering selling its Coyote truck brokerage business.Most ...
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News
IATA: Air cargo improves in December but declines for the full year
Air cargo demand surged in December last year but it was not enough to push overall figures for the year into positive territory.IATA figures show that air cargo tonne kms (CTK) for December were up 10.8% year, but CTKs for the whole year were down 1.9% on 2022 levels and ...
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NewsUPS still struggles with revenues in Q4
UPS revenues in the fourth quarter dropped nearly 8% year on year as volumes fell in both the domestic and international segments.The express giant announced consolidated revenues of $24.9bn in the fourth quarter of last year, a 7.8% decrease from the fourth quarter of 2022.Meanwhile, consolidated operating profit was $2.5bn, ...
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News
Airfreight rates on the up as January draws to a close
Airfreight rates in January climbed as the month progressed due to the approaching Lunar New Year holiday and anecdotal reports of a move from sea to air due to the Red Sea crisis.The latest figures from the Baltic Exchange Airfreight Index (BAI) show that in the last full week of ...
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News
Etihad Cargo achieves IATA CEIV Li-batt certification
Etihad Cargo has achieved the International Air Transport Association's (IATA) Centre of Excellence for Independent Validators Lithium Batteries (CEIV Li-batt) certification.The carrier is the third Middle Eastern airline to attain this certification and has become only the fifth airline globally to achieve CEIV Pharma, Fresh, Live Animals and Li-batt certifications.CEIV ...
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News
Flexport set for another round of job cuts
Reports suggest freight forwarder Flexport will make a third round of redundancies in just over a year.Tech publication The Information last week reported that the forwarder will cut 20% of its staff, equating to around 500 people.The company last year cut 20% of its staff in mid-January as it was ...
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News
US carriers see cargo revenues slide in 2023
The big three US airlines saw their cargo revenues decline last year as rates and volumes came under pressure.United Airlines - the largest of the three in terms of cargo volumes - registered a 31.1% year-on-year decline in cargo revenues in 2023 to $1.5bn.At American Airlines there was a 34.1% ...
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NewsMenzies grows in Hong Kong with Jardine investment
Source: Menzies AviationMenzies Aviation has invested in a 50% stake in Jardine Aviation Services Group (JASG) as it looks to expand operations in the Asia Pacific region.The stake was purchased from Asia-focussed conglomerate Jardine Matheson and is a joint venture with China National Aviation Corporation (CNAC), which will remain co-owner ...
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News
DHL Global Forwarding completes the integration of Danzas AEI
DHL Global Forwarding has finalised its takeover of Danzas AEI Emirates, with all facilities now rebranded to DHL.The forwarder first announced the takeover of its partner in October last year.Before the takeover, DHL had owned 40% of the UAE-based forwarder with the remaining 60% owned by Investment Trading Group, which ...
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News
Forward Air and Omni Logistics end acquisition dispute
Forward Air and Omni Logistics have agreed to end a legal dispute over Forward's planned acquisition of Omni.The companies have agreed to amend the terms of the existing agreement. This will end the litigation between Omni, a global multimodal provider of air, ocean and ground services, and Forward Air, a ...
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ECS continues recent acquisition spree in Morocco
GSSA ECS has continued its recent acquisition spree with the purchase of its Morocco-based partner.The ECS Group today announced it had acquired its partner of more than two decades EFIS MAROC.EFIS MAROC offers GSSA, air cargo, road and logistics services from its headquarters in Casablanca."Their expertise includes supervising the handling ...
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Forwarder Flexport raises $260m through Shopify
Freight forwarder Flexport has raised $260m in funding from e-commerce platform Shopify.The company, which last year had to make job cuts as it looked to reduce costs, raised the money through an uncapped convertible note.Writing on X, Flexport chief executive Ryan Petersen said the investment would further strengthen the firm's ...