Business – Page 22
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News
ATSG sees no diminished demand for leased freighters
Lessor ATSG hasn’t seen a dip in demand for freighters despite a difficult first quarter on account of "operating headwinds".The Wilmington, Ohio-headquartered firm said its aircraft leasing business Cargo Aircraft Management (CAM) "has seen no reduction in demand for its desirable leased freighters, and continues to invest with the expectation ...
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News
IAG Cargo sees cargo revenues decline despite demand increase
IAG Cargo registered a decline in its cargo revenues in the first quarter of the year despite seeing demand decrease.The cargo business, which includes British Airways, Iberia and Aer Lingus, registered a 25.2% year-on-year decrease in first-quarter air cargo revenues to €323m, while traffic increased 13.6% to 1.1bn cargo tonne ...
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Insights
Airfreight rates slide in April
Airfreight rates on major east-west trade lanes declined in April as indicators of a recovery in March showed signs of fading (see chart below).The latest statistics from Baltic Exchange Airfreight Index (BAI) show declines in prices between Asia and Europe, Asia and North America and across the Atlantic.The falls are ...
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NewsLufthansa Cargo sees revenues, profits and volumes fall in Q1
After three consecutive years of record profits, it was back to earth with a bump for Lufthansa Cargo in the first quarter of the year as revenues, profits and volumes all declined.The German airline's logistics division, which includes Lufthansa Cargo, Jettainer, time:matters, HeyWorld and a 50% stake in AeroLogic, registered ...
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NewsAir cargo demand falls back below pre-Covid levels in March
Air cargo demand slipped back below pre-Covid levels in March after a volatile first quarter, according to the latest market data from IATA.Figures from the airline association show that air cargo demand in cargo tonne kms (CTK) terms declined 7.7% year on year in March, which is an improvement on ...
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News
DHL airfreight volumes nosedive as market 'normalises'
Deutsche Post DHL Group saw a steep drop in airfreight volumes in the first quarter of 2023 which it attributed to “normalisation of market conditions”.Airfreight volumes for the second quarter of 2023 were 414,000 tonnes, down 18.7% year on year.The group said the decline in airfreight volumes was particularly noticeable ...
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News
Cargojet reduces costs to reflect weaker market conditions
Cargojet reported softer market conditions in the first quarter of the year as international flying was subdued and has taken steps to reduce short-term costs.The Canada-based freighter operator reported a 0.7% decrease in first-quarter revenues to C$231.9m, while earnings before interest reached C$34.6m compared with a C$44.5m loss last year ...
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NewsIATA Air Cargo Innovation Award winners revealed
Photo: IATALATAM Cargo and Swiss Airtainer (SAT) were named winners of the IATA Air Cargo Innovation Awards for 2023 at the 16th IATA World Cargo Symposium (WCS) in Istanbul, Turkey.LATAM Cargo received the Corporate Innovation Award for its plastic reduction projects in its cargo operations in Chile and Brazil, initiatives ...
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NewsDSV airfreight volumes fall 20% in first quarter 2023
DSV’s air cargo volumes fell 20.2% in the first quarter of 2023 to 327,712 tons, with the weakest development on export volumes from the Asia-Pacific region. Seafreight volumes measured in teus were also down, by 12%.The Denmark-based forwarder said that the global air and sea freight markets in the first ...
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NewsLearn to fail on the path to digitalisation
Andres Bianchi, chief executive, LATAM CargoThe key to successfully designing digitalisation tools is to “learn to fail… but never fail to learn”.This is according to LATAM Cargo chief executive Andres Bianchi, who explained the digitalisation process is a true learning curve.He said: “Five years ago we were in a very ...
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NewsAgeing freighters face fallout from reduced air cargo demand
Sander Schuringa, manager market intelligence, Seabury Cargo.Older freighters are being grounded as a result of ongoing reduced demand and increased capacity.Sander Schuringa, manager market intelligence, Seabury Cargo said that as a result of falling demand and increased capacity, yields and freighter utilisation have dropped.Older freighters tend to be more expensive ...
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NewsWalsh: Airlines maintain focus on air cargo
Willie Walsh. Source: IATAAirlines are maintaining the focus on air cargo that they gained during the Covid-19 pandemic, according to IATA director general Willie Walsh.Walsh, speaking to Air Cargo News at the IATA World Cargo Symposium, said that it was natural that airline management would focus on passenger operations as ...
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NewsReinventing recruitment can help attract new talent
Kendra Kincade, Elevate AviationThe air cargo industry must dig deeper to recruit and retain valuable new talent.This was the consensus of a panel discussing the ‘air cargo talent challenges’ during the Opening Plenary of the IATA World Cargo Symposium 2023.The industry is well versed in the negative points associated with ...
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NewsFinancing SAF to accelerate uptake
IATA press conference. Willie Walsh (fourth from left).The US is leading the way in financially backing the development and use of SAF, according to IATA.Speaking at the IATA World Cargo Symposium (WCS) press conference on day one of the event, Willie Walsh, IATA’s director general said the US government is ...
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NewsTurkish Cargo joins CEIV Li-Batt programme
Turkish Airlines’ Bilal Ekşi (seated centre) signs up for CEIV Li-BattTurkish Cargo has become the latest airline to join the IATA CEIV Lithium Battery (CEIV Li-Batt) certification programme, which includes training, assessment and validation of competence to carry lithium battery products safely.The airfreight brand of Turkish Airlines signed up during ...
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News16th IATA WCS kicks off with three priorities
Brendan Sullivan, IATA global head of cargoIATA’s 16th World Cargo Symposium (WCS) opened in Istanbul on April 25, with global head of cargo Brendan Sullivan highlighting three priorities for the industry: sustainability, digitalisation and safety.“Air cargo is a different industry [from] the one that entered the pandemic. Revenues are greater ...
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NewsK+N holds its own in Q1
Stefan Paul, K+N chief executiveMultimodal forwarder Kuehne+Nagel International (K+N) achieved a record result for the first quarter of 2023, “[in] the context of a normalised business environment and compared to the business performance before the pandemic” – thanks, the company said, to its focus on efficiency.K+N’s Air Logistics business unit ...
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NewsIATA WCS launches with insight into dynamic air cargo market
Photo: IATADigitalisation, sustainability and safety and security will once again be the central themes of the IATA World Cargo Symposium (WCS).The event will also reflect on demand and capacity and how these are impacting the industry, alongside offering workshops, executive summits and plenty of networking opportunities.Day one of the WCS ...
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News
EFL Global acquires Locher Evers International
Logistics company EFL Global has acquired Canadian firm Locher Evers International (LEI).With over 47 years of experience, LEI offers airfreight, ocean freight, customs brokerage, rail service, warehousing, distribution, fulfillment, domestic trucking, and drayage.The acquisition of LEI expands EFL Global’s footprint in the Canadian market and strengthens its capabilities to provide ...
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NewsA CMA CGM takeover of Bolloré Logistics could create top five airfreight forwarder
French shipping giant CMA CGM on Tuesday (April 18) announced that it had tabled a bid to take over family-owned Bolloré Logistics in a deal estimated to be worth around $5.5bn.Following the news of the potential acquisition, the Bolloré Group revealed that the takeover could see its logistics business combined ...