Business – Page 23
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News
Nippon Express: no decision on cargo-partner acquisition
Japanese global logistics services company Nippon Express is believed to be in talks to buy Austrian logistics provider cargo-partner, however, the former said "no particular facts have been decided".The parties are negotiating terms of a potential deal and may reach an agreement as soon as the coming weeks, according to ...
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Profits up but revenues down at Air Charter Service
Charter broker Air Charter Service (ACS) saw its revenues fall but profits climb last year as cargo demand waned but private jet charters were on the rise.The company said that group revenue declined by around 15% in 2022 to £1.1bn, while earnings before interest, tax, deprecation and amortisation increased by ...
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CMA CGM makes bid for Bollore Group's logistics activities
The CMA CGM Group has entered into exclusive negotiations to acquire Bolloré Logistics' transportation and logistics activities.If a deal is reached, the acquisition would further strengthen the shipping giant's logistics activities.Reuters suggests CMA CGM's offer has a value of around $5.5bn.CMA CGM Group said: "The negotiations are in line with ...
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NewsGeodis gains CEIV Pharma certification at stations in Asia
Photo: GeodisTransport and logistics services provider Geodis has gained IATA’s Center of Excellence for Independent Validators in Pharmaceutical Logistics (CEIV Pharma) certification for a number of locations across Asia.The Geodis stations certified for CEIV Pharma are: Shanghai Pudong International in China; Soekarno-Hatta International in Indonesia; Indira Gandhi International in Delhi ...
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Menzies Aviation to acquire majority stake in Groundforce
Menzies Aviation has signed a subscription agreement with TAP Air Portugal and Groundforce to acquire a controlling stake of 50.1% in Groundforce, the airline’s aviation services arm.Groundforce handles over 100,000 aircraft turns each year, across its operations at five airports in Portugal: Humberto Delgado Airport in Lisbon, Francisco Sá Carneiro ...
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NewsStepping stones to net zero
Photo: ShutterstockNow that the UN’s Civil Aviation Authority has joined IATA in its commitment to net-zero carbon emissions from air transport by 2050, it’s important to set out some concrete steps.In October last year, the United Nations’ Civil Aviation Authority adopted the Long Term Aspirational Goal of net-zero carbon emissions ...
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NewsSetting the record straight
Photo: Travel mania/ ShutterstockIATA’s ONE Record project aims to achieve full digitalisation of air cargo information among its members using a common standard by the end of 2025, putting an end to the ‘black hole’ shippers have traditionally had to endure. But how will the scheme work and what are ...
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NewsIATA WCS 2023 to focus on sustainability, safety and digitalisation
Sustainability, safety and digitalisation will be the focus of the International Air Transport Association's (IATA) World Cargo Symposium later this month.Taking place in Istanbul, Turkey from April 25-27, the WCS will encompass conference sessions, workshops and executive summits, tackling issues related to technology and innovation, security and customs, cargo operations ...
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News
ASL raises funds for fleet renewal
Freighter operator ASL Aviation Holdings has closed a new $155m credit facility for investment in its fleet.ASL said it will use the funds to continue its fleet renewal programme which has so far seen the global aviation services provider agree 40 conversion slots with Boeing for the B737-800BCF.The credit facility ...
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News
Air cargo stabilises but there are risks ahead
Recent airfreight rate data appears to show that the air cargo market may have reached a new normal but the outlook remains cloudy.Writing in his monthly column for the Baltic Exchange Airfreight newsletter, Bruce Chan, director and senior research analyst covering global logistics and future mobility at investment bank Stifel ...
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FedEx to consolidate operating companies to cut costs
Express giant FedEx has unveiled plans to consolidate its various divisions as part of efforts to generate cost savings of $4bn.The company intends to bring FedEx Express, FedEx Ground, FedEx Services, and other FedEx operating companies into the Federal Express Corporation, becoming a single company operating a "unified, fully integrated ...
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NewsCLIVE: Forwarders seek longer term contracts to secure volumes
Growth in longer term contracts between shippers and freight forwarders may reflect moves by the latter to secure air cargo volumes, according to CLIVE Data Services.This shift could indicate a ‘hunt for volume’ by forwarders, said Niall van de Wouw, chief airfreight officer at CLIVE's parent firm, Xeneta.The distribution of ...
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Air cargo demand slides again but beats pre-pandemic levels
Air cargo demand slipped again in February but exceeded pre-pandemic levels for the first time in eight months.The latest statistics from IATA show that demand in February fell 7.5% year on year in cargo tonne km (CTKs).However, CTKs for the month were up 2.9% compared with February 2019 levels. The ...
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News
New buyer found for Frankfurt-Hahn Airport
Frankfurt Hahn Airport has found a new buyer in the shape of German real estate firm Triwo.The purchase price, which has not been disclosed, has already been transferred to an escrow account.The conclusion and execution of the agreement are subject to conditions but both parties assume that these will be ...
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NewsScan Global Logistics continues expansion
SGL Romania Management Team from left to right: Sebastian Blaga, Rares Theodosiu, Adrian Pali, Andrei Zodie, Nicolae Dragan. Source: SGLFast-growing forwarder Scan Global Logistics has continued its expansion with the opening of an office in Bucharest.The forwarder said it had decided on the new office as Bucharest was fast becoming ...
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NewsAir France KLM Martinair and CMA CGM air cargo partnership takes off
Source: AFKLMPAir France KLM Martinair Cargo (AFKLMP) and CMA CGM Air Cargo have launched a capacity partnership announced last year.The tie-up, first announced in May 2022, will see the two carriers jointly operate the full-freighter aircraft capacity of their respective airlines, initially including CMA CGM's six freighter aircraft and AFKLMP's ...
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NewsSATS completes acquisition of WFS
Photo: WFSSingapore-based aviation services company SATS has completed the acquisition of cargo handler Worldwide Flight Services (WFS) for €1.3bn.SATS struck a deal last September to buy WFS from an affiliate of asset investor Cerberus Capital Management. The transaction has an enterprise value of €2.25bn.WFS is now a fully owned subsidiary ...
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NewsASL expands into Australia with Pionair acquisition
ASL Aviation Holdings has acquired freighter operator Pionair as it expands into Australian and Oceania marketsACMI provider Pionair has five main bases in Australia - Sydney, Melbourne, Adelaide, Brisbane and Cairns - and has a focus on the express and e-retail sectors.Its fleet consists of 12 aircraft including Embraer E190-E2’s ...
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News
Bolloré Africa Logistics rebrands following takeover
Bolloré Africa Logistics has been rebranded as Africa Global Logistics (AGL) following its acquisition by container shipping giant MSC.The acquisition was completed at the end of 2022 and included all the Bolloré Group's shipping, logistics and terminal operations on the continent.At the time the deal was announced, Bolloré Africa Logistics ...
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InsightsLufthansa holds hope for a “good year”
Lufthansa Cargo is optimistic about its business prospects for this year with fleet and digitalisation investments continuing to shore up its growth goals.“Lufthansa is back” declared chief executive Carsten Spohr as the German airline announced record group operating profits of €1.5bn for 2022, the biggest financial turnaround in the carrier’s ...