Business – Page 20
-
NewsAirfreight rates down in June as summer lull arrives
Airfreight rates declined again in June as the quieter summer period resulted in a demand slowdown (see dashboard at end of article).The latest figures from the Baltic Exchange Airfreight Index (BAI) show that average rates – based on contract and spot process paid by forwarders – on services from Hong ...
-
NewsIATA ONE Record Hackathon winners announced
Source: IATASix teams won a prize at IATA's latest ONE Record Hackathon event which brings together teams of developers to work on innovative solutions that address an industry challenge.This year's event was held in Frankfurt and hosted by Lufthansa Cargo, with 20 teams working around the clock to develop a ...
-
NewsGebrüder Weiss strengthens German air and sea network with acquisition
Robert Stahlschmidt, country manager Air & Sea Germany at Gebrüder Weiss (left), and Andreas Tylewski, managing director B+A, at the signing of the contract in Nuremberg. Source: Gebrüder Weiss/ HesseAustrian logistics company Gebrüder Weiss is expanding its German network by acquiring freight forwarder B+A Luft- und Seefrachtspedition in Nuremberg.B&A, which ...
-
News
Janssen buys Maltacourt Global Logistics
Dutch logistics solutions company Janssen Group of Companies has acquired UK-based freight forwarder Maltacourt Global Logistics.Active in the air and ocean freight forwarding industry, Maltacourt has seven UK offices which provide services under its brands Maltacourt, Mandarin, and Extraordinair.Janssen entered the UK market in March with the acquisition of Norman ...
-
News
Western Global ratings withdrawn as bankruptcy considered
Freighter operator Western Global Airlines has had its credit rating withdrawn by financial services firm Moody's while reports suggest the company is considering bankruptcy.Newswire Bloomberg yesterday reported that the Florida-based airline was weighing up whether to declare bankruptcy due to liquidity issues.Citing people with knowledge of the matter, Bloomberg said ...
-
News
Ethiopian Cargo & Logistics aims for IATA CEIV Live Animals certification
Ethiopian Cargo & Logistics has committed to work towards achieving IATA’s Center of Excellence for Independent Validators (CEIV) Live Animals certification.Ethiopian Airlines Group signed an CEIV Live Animals "Project Initiation" agreement at the IATA Focus Africa Conference hosted by Ethiopian Airlines Group on June 20.The airline said the signing of ...
-
News
FedEx to ground more planes as profits come under pressure
Express giant FedEx will ground more aircraft after both revenues and operating income declined during its fiscal fourth quarter of the year due to "demand weakness and cost inflation".In a results call, FedEx Corporation president and chief executive Raj Subramaniam said that the company had retired 18 aircraft, including 12 ...
-
NewsDeutsche Post DHL Group to get a new name
Source: DHL GroupDeutsche Post DHL Group will on July 1 change its name to DHL Group to "reflect the transformation the group has gone through" over the past years.The company pointed out that 90% of its revenue stems from its businesses trading under the DHL name.Group chief executive Tobias Meyer ...
-
News
CargoLogicAir not likely to be sold as a going concern
The joint administrator of CargoLogicAir has said the airline is unlikely to be sold as a going concern in its latest update on the company.UK-based CargoLogicAir, which operated Boeing 747 freighters, was forced to halt services after sanctions relating to the Ukrainian conflict prevented it from flying to European Union ...
-
News
Qatar Cargo scoops IATA perishables standard to complete the set
Qatar Airways Cargo and ground handler Qatar Aviation Services (QAS) Cargo have achieved the IATA CEIV certificate for perishables - with the airline becoming the first to achieve all of IATA's CEIV standards.The carrier said that the IATA CEIV Fresh standard encompasses the entire supply chain, including both operational and ...
-
News
Qatar Aviation Services becomes first ground handler to gain IATA environmental certification
Qatar Aviation Services (QAS) has become the first ground handler in the world to receive IATA's environmental management system certification – the IATA Environmental Assessment programme (IEnvA)The IEnvA for Ground and Cargo Handling Service Organisations certificate, which is an expansion of the IEnvA for Airlines programme, was launched last year.QAS ...
-
NewsFreight forwarders continue the hunt for market share
Freight forwarders are on the lookout to expand their customer base as market volumes dwindle.Niall van de Wouw, Xeneta’s chief airfreight officer, said freight forwarders are becoming restless with continued reduced demand."There are a lot of ambitious forwarders in the market that want to grow – but they cannot grow ...
-
News
Kuehne+Nagel expands in Africa with latest acquisition
Kuehne+Nagel has expanded its presence in Africa and the perishables market through the acquisition of Morgan Cargo.The acquired forwarder has a presence in South Africa, Kenya and the UK, employs around 450 people and in 2022 handled more than 40,000 tonnes of airfreight and 20,000 TEU of seafreight.The company also ...
-
News
Rates down again in May as outlook weakens
Airfreight rates on major east-west trade lanes were down again last month (see dashboard at end of article) as commentators warn that pressure on pricing will remain for the rest of the year.The latest figures from the Baltic Exchange Airfreight Index (BAI) show that average rates - based on contract ...
-
NewsIATA lowers expectations for cargo revenues and yields
IATA has lowered its expectations for air cargo revenues and yields for the year due to growing capacity and a weak demand outlook.In its latest airline profitability report, the airline association predicted cargo revenues of $142.3bn this year, which is 31.3% down on last year and behind the $149.4bn that ...
-
News
Reduced demand and returning belly capacity result in "double whammy" for airfreight rates
Soft demand and continued returning belly capacity combined to hit airfreight rates again in May, and pressure on rates is expected for the rest of the year."2023 airfreight rates continue to grind lower, and the month of May was no different, enduring a double whammy of soft demand and the ...
-
NewsAvia Solutions buys Slovakia’s AirExplore
Photo: Avia Solutions GroupACMI (aircraft, crew, maintenance, and insurance) operator Avia Solutions Group has acquired Slovak-based ACMI and charter airline AirExplore.Headquartered in Bratislava, and established 13 years ago, AirExplore operates ten Boeing 737-800 aircraft, two of them in freighter configuration. The acquisition brings Avia’s total fleet to of 180 aircraft.Avia ...
-
News
Geodis acquires Swiss freight forwarder
France headquartered transport and logistics services provider Geodis has acquired the Swiss freight forwarder, ITS - International Transport & Shipping Ltd.Marie-Christine Lombard, chief executive of Geodis, commented: “Switzerland is home to a wide number of multinational companies that are key GEODIS customers, among them several dynamic members of the pharmaceutical ...
-
News
Hellmann buys out Czech and Slovak partner
German forwarding and logistics company Hellmann Worldwide Logistics has taken over its long-standing Slovakian and Czech air- and seafreight partner, PKZ Group, and set up its own Slovakian national company.The acquisition includes PKZ’s ten locations as well as its air and multimodal operations.Existing business activities and the PKZ Group workforce ...
-
News
Nauru Airlines secures financing to acquire 737-800SF freighter
Nauru Airlines has secured financing for the acquisition of an Boeing 737-800SF converted freighter.HALO AirFinance (HALO), a joint venture between GA Telesis (GAT) and Tokyo Century Corporation (TC) has closed financing for Nauru Airlines, the flag carrier of the Republic of Nauru, to finance the acquisition of a 737-800SF freighter ...