Business – Page 133
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Subdued half year for Lufthansa
Lufthansa’s group cargo volumes fell 3.1 per cent in the first six months of 2014 to 932,000 tonnes in a “subdued” freight market for the German carrier’s airline businesses which include Lufthansa Cargo, Swiss and Austrian Airlines.In its half-year financial review, Lufthansa said: “The global cargo business was more subdued ...
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June volumes maintain upward momentum
June continued the momentum of 2014 air freight volume growth, with a 4.8 per cent year on year increase for the month.Latest analysis from WorldACD, the Amsterdam-based air cargo market data specialist, indicates that revenues grew even more: “For the first time in 2.5 years, we registered a month with ...
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IAG Cargo results reflect capacity switch
IAG Cargo's revenue fell 9.8% in the first half of 2014 to €488 million as volumes edged down 3.3 per cent to 441,000 tonnes, figures which reflect the ending of a long haul freighter leasing programme in April.The freight arm of British Airways and Iberia terminated its agreement with Global ...
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Atlas 'encouraged' by market volumes
Atlas Air Worldwide Holdings has presented an upbeat market volume outlook after announcing a second quarter net income of $29.6 million, compared with $20.1 million in same period last year.William Flynn, president and chief executive of the US-based aircraft leasing company, said: “We are off to a good start in ...
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Air cargo dips in June
GLOBAL airfreight volumes were up 4.1 per cent in the first six months of this year in comparison with 2013, buoyed by improving global trade and stronger business activity over the past year, according to IATA.June’s figures show reduced demand though, slowing to 2.3 per cent – down on the ...
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Cathay warns on market overcapacity
Cathay Pacific has warned about continued overcapacity in the cargo market despite the Hong Kong-based group notching a 3.4 per cent rise in freight revenue to HK$11.6 billion in the first half 2014.In a results statement Cathay said of its cargo business: “Overcapacity in the industry remains a major concern ...
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IAG Cargo: open to opportunities
FRESH from signing its block space programme on Qatar Airways freighters, IAG Cargo is prepared to “explore other opportunities” in terms of carrier partnerships.Steve Gunning, chief executive of the British Airways and Iberia cargo arm, says that the deal with Qatar Airways - sharing five-weekly B777F flights from Hong Kong ...
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ATSG' revenue uptick
A boost in US military contracts and aircraft maintenance services saw aircraft lessor Air Transport Services Group (ATSG) record an eight per cent rise in revenues to $149.6 million for the 2014 second quarter.Joe Hete, president and chief executive of US-based ATSG, said: “The second quarter provided strong evidence of ...
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SAA and Boeing to develop tobacco plant jet fuel
SOUTH African Airways (SAA) and Boeing have joined forces to develop an environmentally-friendly jet fuel produced from a new type of tobacco plant, writes Thelma Etim, deputy editor.The carrier and the planemaker will utilise sustainable jet fuel producer SkyNRG’s hybrid plant Solaris, which farmers can grow as an energy crop ...
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Air New Zealand alliance with SIA approved
New Zealand's minister of transport has approved the alliance between Air New Zealand and Singapore Airlines.“It’s very pleasing to receive regulatory approval for this alliance which will enable us to grow our network with operations between Auckland and Singapore in the very near future,” said Air New Zealand chief executive, ...
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DWC cargo up in Q2
THE permanent relocation of Emirates SkyCargo’s freighter operations to Al Maktoum International – Dubai World Central (DWC) resulted in a triple-digit surge in cargo traffic in the second quarter of this year, writes Thelma Etim, deputy editor.DWC handled 199,751 tonnes, up 308 per cent from the same period in 2013, ...
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Etihad will bring Alitalia back to profitability by 2017
JAMES HOGAN, president and chief executive of Etihad Airways, has announced that the carrier has spent €560m to acquire its 49 per cent equity stake in Alitalia, writes Thelma Etim, deputy editor.Under the deal, which will result in €1,758m of investment and includes restructuring the Italian carrier’s debt, the Middle ...
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UK aviation strategy in the spotlight
UK logistics professionals have called on the government to focus on long-term aviation strategy.The Chartered Institute of Logistics and Transport (CILT) has produced its own report, The Future of Aviation, which outlines long-term strategic prospects for the growth of UK air transport.This publication is one of a series of strategy ...
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Cooperation is the key driver
THE latest half-year results for the air cargo industry’s two great players, the airlines and freight forwarders, reveal a market where volume increases are dampened by a “competitive environment” to use the jargon, or a rates battle to you and me.The major purchasers of air cargo space, Deutsche Post DHL, ...
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One Question
Steve Gunning, chief executive of IAG Cargo, answers: "THIS big influx of cargo capacity is creating an excess supply and the only relief valve that the air cargo industry has is freighter capacity, because that is the only one it is fully in control of.“As a result you will see ...
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Cargojet revenue rise
Canada-based Cargojet saw 2014 second quarter revenues up 3.7 per cent to C$44.3 million, due primarily to the increase in core overnight volumes and higher ACMI income.Cargojet provides time sensitive overnight air cargo services and operates a network across North America, as well as global air charters.President & chief executive ...
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United's July cargo hike
UNITED AIRLINES’ cargo revenue tonnes rose 29 per cent to more than 212,000 in July, writes Thelma Etim, deputy editor.Increased belly capacity helped the US carrier’s airfreight division to enjoy a 9.1 per cent increase to 1.4 million year-on-year.Did you find this article of interest, if so why not register ...
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Virgin appoints Globe Air Cargo in Dubai
Virgin Atlantic Cargo has appointed Globe Air Cargo as its general sales and service agent in Dubai.The move is intended to simplify Virgin Atlantic Cargo’s freight and courier express sales for customers in the UAE and “take advantage of the Dubai market’s strong growth forecast”.The airline carries around 5,000 tonnes ...
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IAG Cargo releases 2014 "strong results"
A change in freighter capacity saw IAG Cargo record a 7.5 per cent fall in commercial revenue to €992m for full year 2014, but a like for like rise of 2.4 per cent.The decrease in flown revenue plus fuel surcharges reflects IAG Cargo’s decision in May last year to switch ...
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July cargo drop for LATAM
WEAKER imports into Latin America contributed to LATAM Airlines Group’s cargo drop in July, writes Thelma Etim, deputy editor.The group’s airfreight traffic decreased 0.4 per cent, as capacity fell 5.3 per cent. As a consequence, the cargo load factor increased 2.8 points to 57.4 per cent, says a company statement.“The ...