Business – Page 34
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News
Maersk completes $644m Senator acquisition as it looks to air cargo
Shipping giant AP Moller-Maersk has completed the acquisition of Senator International for $644m as it looks to boost its presence in forwarding and airfreight.Maersk said that Senator brings with it a well-developed airfreight network comprising own controlled flights and long-term partnerships with airlines, a well-established full container load (FCL) and ...
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News
Rhenus Air and Ocean adds two new Danish locations
German logistics company Rhenus Air & Ocean has expanded its presence in north-west Europe by opening two new business sites in Copenhagen and Aarhus.Rhenus said the two new Danish offices would strengthen connections with the Netherlands, Belgium, Ireland, Norway, and the UK.Prior to this, Rhenus had already added a new ...
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NewsAirfreight volumes fall again in May
General air cargo market volumes fell again in May as the pandemic, Ukraine-Russia war and economic turbulence continued to take their toll.According to Xeneta’s CLIVE Data Services, general air cargo market volumes fell 7% year-over-year in May, following on from declines in April and also in March.Airfreight demand for May ...
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News
Airfreight rates pick up in May despite demand declines
Airfreight rates on major east-west trades continued to increase on a year ago in May despite analyst figures showing demand declines over the last few months.The latest figures from the Baltic Exchange Airfreight Index (BAI) show that average rates from Hong Kong to North America in May increased by 21.7% ...
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NewsFreightos set for listing following merger with Gesher
Source: FreightosCargo booking portal Freightos and Israel-based special purpose acquisition company Gesher I Acquisition Corp. have entered into a definitive merger agreement that will see the portal being listed on the NASDAQ stock exchange.The combined entity will be known as Freightos and will have a pro forma enterprise value of ...
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InsightsSwissport embraces growth and green logistics
Swissport is demonstrating how ground handlers can go green and decarbonise while simultaneously growing their air cargo handling businesses.Active at 285 airports in 45 countries across six continents at the end of 2021, Swissport is a major air cargo handler.The air cargo segment comprises 25% of the business, although last ...
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Insights
Putzger perspective: Thinking outside the cargo hold
By now most folks are wondering where the next big disruption is going to come from. The past two years have been a wild roller-coaster ride and there is little to suggest that we are on the verge of a return to stability.Nevertheless, airlines keep ordering freighters, and that includes ...
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News
IATA's Cargo iQ certifies first African airline
Royal Air Maroc has become the first African airline to be certified by IATA interest group Cargo iQ.The Moroccan airline has successfully obtained its Cargo iQ certification in accordance with the Cargo iQ quality management standards of the airfreight industry.Royal Air Maroc has also been granted two additional stars in ...
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News
TIACA's sustainability assessment programme progresses
TIACA has started the next pilot phase of its recently launched BlueSky sustainability assessment, validation and verification programme.The pilot of the latest phase - named desktop verification - is an online assessment of company's sustainability credentials that will be used to provide a performance score on a personalised online dashboard.Taking ...
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News
TIACA adds new talent to board
The International Air Cargo Association (TIACA) has appointed two new members to serve on the board of directors.Priscilla Bueno, chief transformation officer of Craft Group, and Joseph Lawrence, founder and president of Airline Services International (ASI), will bring a fresh perspective to the board from the forwarding and GSSA sectors.Bueno ...
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News
Jota Aviation appoints liquidators as Covid and Brexit take their toll
UK-based passenger and cargo airline Jota Aviation has appointed liquidators after the airline was hit be the impact of Brexit and Covid.On May 19 it was announced that the company, which at its height in 2018 had offered four BAe 146-300 QT freighters out of Southend, had appointed David Pike ...
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NewsECS Group set for further expansion and investment
Adrien Thominet, ECS Group. Source: ECSThe ECS Group has this year announced major contracts in two of its target growth areas, South America and Asia, while it is also continuing to invest in its modular service offering.In April, ECS Group Brazilian subsidiary BCS AIR revealed that it was working with ...
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News
Lufthansa Group and MSC make joint bid for ITA Airways
German airline Lufthansa has submitted a joint bid with Switzerland-headquartered shipping firm Mediterranean Shipping Co. (MSC) for a stake in Italian airline ITA Airways, according to media reports.Air Cargo News first reported that the MSC Group aimed to work with Lufthansa to acquire a majority stake in ITA in January.In ...
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News
Digitalisation project to boost UAE air cargo security
IATA and Federal Authorities for Identity, Citizen, Custom and Port Security (ICP) in the UAE are working together to enhance air cargo security in the country.Both organisations will work on the deployment of a Pre-Loading Advance Cargo Information (PLACI) system in the UAE.The UAE will be the first country outside ...
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NewsCargo iQ aims to boost best practise with new training
(Left to right) Laura Rodriguez (Cargo iQ); Barbara England; Robin Czap: Julie Winkle (Schenker); Lothar Moehle (Cargo iQ); Zheng Lei (Delta Airlines Cargo); Klaas Kurz (Schenker). Photo: Cargo iQIATA interest group Cargo iQ has introduced new training sessions for members to boost collaboration and understanding of Cargo IQ processes.The onsite ...
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NewsSwissport expands into Italy with acquisition
Photo: SwissportSwissport has been awarded the ground handling business of the company formerly known as Alitalia at Rome Fiumicino Airport in Italy.Alitalia entered extraordinary administration in 2017. In October 2021, its operations and assets were transferred to new state-owned flag carrier ITA Airways.Aviation services company Swissport has now started preparations ...
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News
World Star Aviation buys 30 B737-400Fs
Aircraft leasing company World Star Aviation has completed the purchase of 30 Boeing 737-400F aircraft with leases attached.The aircraft portfolio is spread across 10 lessees in 12 countries worldwide, said World Star Aviation in a LinkedIn post.It added: “This new acquisition reinforces the continued strategy of expanding and diversifying our ...
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NewsEmirates SkyCargo volumes continue to recover as revenues soar
Emirates SkyCargo saw its volumes continue to recover in the 2021/2022 financial year while revenues continued to beat pre-Covid levels.For the 12 months ending March 31, Emirates SkyCargo saw its revenues increase by 26.6% year on year to AED21.6bn, which was also higher than the AED13.1bn registered in pre-pandemic financial ...
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News
Airfreight rates to continue to rise despite easing demand?
The current easing of the airfreight market may only be a temporary blip and rates could rise further once lockdowns in China are lifted, according to Bruce Chan, senior analyst at investment bank Stifel.In the latest Baltic Exchange market round-up, Chan said that despite a year on year drop in ...
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NewsRealterm raises $150m for airport logistics fund
Photo: RealtermUS independent global investment manager Realterm has announced the successful closing of $150m in capital commitments for its open-ended fund, Realterm Airport Logistics Properties (RALP).RALP has now raised approximately $900m in equity commitments since its formation in 2015 with all original investors still in the fund.RALP serves as the ...