Business – Page 31
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NewsTop 25 air cargo carriers for 2021 revealed
IATA World Air Transport Statistics (WATS) data for 2021 showed the top 25 cargo airlines last year had strong volume growth following a tough first pandemic year (full chart at end of article).Overall traffic in scheduled cargo tonne km (CTK) terms increased by 18.7% year on year in 2021, a ...
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NewsHellmann becomes sole shareholder of Peruvian joint venture
Source: Hellmann Worldwide LogisticsHellmann Worldwide Logistics now owns 100% of shares in the Peruvian joint venture (JV) Hellmann Worldwide Logistics S.A.C.The German logistics company previously owned 50% of shares in the JV, but through the purchase of the remaining 50% of shares, which were held by president of the board ...
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NewsCathay Pacific Cargo adopts Cargo iQ warehouse tracking milestones for airfreight handling efficiency
Frosti Lau, general manager cargo service delivery, Cathay Pacific. Photo: Cathay PacificCargo iQ’s Freight into Warehouse control (FIW) and Freight out of Warehouse control (FOW) freight planning and monitoring milestones have been implemented by Cathay Pacific Cargo in Hong Kong to bring enhanced visibility of cargo during warehouse and ramp ...
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Volga-Dnepr Group ownership transferred to management
Volga-Dnepr Group founder Alexey Isaykin (Alexei Isaikin) has transferred ownership of the company to management.The exact structure of the group has not been clarified by the company, nor has the reasoning behind the decision.Two of the carriers associated with the group have had their aircraft stuck on the ground due ...
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NewsAerCap predicts "sustained" air cargo demand as it reports robust Q2 results
Aengus Kelly. Photo: AerCapAircraft leasing company AerCap has said it expects "sustained" air cargo demand despite a challenging economic landscape and the easing of global port congestion that is expected to enable maritime to claw back market share later in the year.Speaking during AerCap's second quarter 2022 earnings call transcript ...
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Scan Global Logistics targets automotive with AFL acquisition
Fast-growing Danish forwarder Scan Global Logistics (SGL) has acquired an automotive logistics specialist as it targets growth in the sector.SGL today announced the purchase of Germany-based AFL International Logistics and its sister US company American Freight Line.AFL specialises in automotive transport between the European Union and the US.Services include air, ...
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NewsAir cargo veteran Christopher Foyle passes away
Photo: TIACAAir cargo industry veteran and former chairman of The International Air Cargo Association (TIACA) Christopher Foyle has passed away.In a LinkedIn post, TIACA said: “With heavy hearts, we share the very sad news of the passing of Christopher Foyle. Chris was not only a past chairman of the association ...
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Freightos sees strong platform growth in Q2 2022
New business from airlines investing in digitalisation has helped global freight booking and payment platform Freightos achieve strong growth in the second quarter of 2022.Freightos recorded 150,000 platform transactions, resulting in growth of 163% year-over-year in the second quarter.Gross Booking Value (GBV) was $155m – up 137% year over year, ...
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NewsSEKO Logistics acquires US 3PL and fulfilment services provider
One of Pixior's US facilities. Photo: PixiorSEKO Logistics has acquired California-based 3PL and fulfilment services provider Pixior.With seven locations along the west coast, and one location in Connecticut, Pixior provides e-commerce fulfilment and retail services, with an emphasis on serving high-end fashion brands.SEKO said the acquisition of Pixior brings key ...
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IATA and animal charity develop pet transport recommendations during crisis
Animal protection organisation Humane Society International and IATA have published a set of recommendations to governments and supply chain players to assist in the transport of animals during times of crisis.The considerations are based on the IATA Live Animals Regulations and cover documentation, facility provision and collaboration.On documentation, the partners ...
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Cargo expansion helps Titan Airways to narrow losses
The delivery of new cargo aircraft helped UK-based freighter operator Titan Airways to narrow its losses and record revenues for the last financial year.For the 2021/2022 financial year running to March, the company reported record revenues of £121.1m, an increase of 110.1%, gross profits improved to £4.6m from a loss ...
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NewsUPS expands in healthcare with Bomi acquisition
Source: UPSUPS plans to acquire healthcare logistics provider Bomi Group to expand its temperature-controlled facilities.The transaction will add temperature-controlled facilities in 14 countries - measuring 390,000 sq m - and nearly 3,000 employees."The acquisition will play a key role in the delivery of next-generation pharmaceutical and biologic treatments that increasingly ...
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ATSG sees revenues rise but profits fall in Q2
Freighter lessor ATSG saw its revenues rise but profits fall in the second quarter of the year as it faced higher costs, but benefited from more flying.The Wilmington-headquartered company reported a 24% year-on-year increase in second-quarter revenues to $510m, operating income for the period was down 16.6% to $70.5m and ...
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DHL airfreight volumes drop but high rates help it achieve positive results
Deutsche Post DHL Group saw a drop in airfreight volumes in the second quarter of 2022, but managed to achieve positive financial results thanks to high market rates and charter demand.Group airfreight revenue for the second quarter of 2022 was €2.8bn, up 40% on the second quarter of 2021, airfreight ...
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Atlas Air sees profits slide in Q2 as costs rise
Atlas Air Worldwide, which yesterday announced it is being acquired in a $3bn deal, saw volumes and profits take a hit in the second quarter while revenues improved.The company saw revenue grow to $1.2bn in the second quarter of 2022, compared with $990m last year, volumes totaled 83,922 block hours, ...
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NewsMaersk opens its war chest for project firm Martin Bencher
Source: MaerskCash-rich shipping giant AP Moller Maersk has announced the planned purchase of project logistics firm Martin Bencher as part of efforts to expand its supply chain offering.Maersk said the deal has an enterprise value of $61m and will allow the company to launch Maersk Project Logistics.Martin Bencher Group is ...
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Atlas Air Worldwide to be acquired in $3bn takeover
Freighter firm Atlas Air Worldwide has entered into a definitive agreement to be acquired by an investor group in an all-cash transaction with an enterprise valuation of approximately $5.2bn.The takeover is led by funds managed by affiliates of Apollo, affiliates of JF Lehman & Company, and Hill City Capital.Under the ...
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UK customs says 3,500 firms face losing ability to import
UK customs (HMRC) has warned that 3,500 companies have yet to register for its new import system and could lose the ability to import goods.HMRC said that on October 1 import declarations will change from being processed through the current CHIEF system to the new Customs Declaration Service (CDS).Many businesses ...
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Agility finalises Menzies acquisition
Agility has finalised its acquisition of UK-based John Menzies PLC and will combine the business with its National Aviation Services (NAS) business.The boards of Agility and Menzies reached agreement on March 30 on Agility’s cash offer to acquire 100% of Menzies ordinary shares following a series of exchanges between the ...
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NewsQatar Aviation Services joins IATA environmental programme for ground handlers
Qatar Aviation Services has stepped up its green game. Photo: Qatar AirwaysQatar Airways Group subsidiary Qatar Aviation Services (QAS) has become the first ground handler globally to join the new expansion of the IATA Environmental Assessment Programme (IEnvA) for ground service providers.The IEnvA programme for ground service provides a framework ...