Business – Page 35
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News
ATSG revenues up in Q1 2021 fuelled by e-commerce demand
US lessor Air Transport Services Group (ATSG) reported revenues of $486m for the first quarter of 2022, up 29% compared with the first quarter of 2021.ATSG said adjusted EBITDA was $158m, up 49% from the first quarter of 2021. Full year 2021 revenues were $1.73bn, up 10% year on year.The ...
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IAG Cargo revenues up 23% year on year
IAG Cargo has reported revenues of €432m for the first quarter of 2022; an increase of 23.4% on the same time in 2021.This positive first quarter for the cargo division of IAG (International Airlines Group) for the period from January 1 to March 31 2022 follows a record year in ...
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Atlas Air revenues improve despite volume decline
Atlas Air Worldwide reported improvements in revenues during the first quarter of the year despite a decline in volumes.The freighter lessor and operator saw first-quarter revenues increase by 20% on last year to $1bn, adjusted earnings before interest, tax, depreciation, amortisation (ebitda) increased 11.9% to $202,814 but net income dropped ...
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Pharma and express bolsters Air France-KLM Q1 cargo revenues
Pharma and express deliveries and higher market prices have helped Air France-KLM Group’s total cargo revenues in the first quarter of 2022 hit €910m, an increase of 8.5% since the first quarter of 2021.This increase in revenues is fully driven by a higher yield thanks to the focus on Pharmaceutical ...
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NewsDisruption continues to hit air cargo as volumes drop again in April
The air cargo industry continues to be buffeted by a range of issues that resulted in volume declines deepening in April, according to figures from CLIVE Data Services.The Xeneta-owned data provider's latest numbers show that air cargo volumes decline by 8% year on year in April following on from a ...
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Avolon reports Q1 2022 net loss of $182m
International aircraft leasing company Avolon has reported an impairment of $304m and a net loss of $182m for the first quarter of 2022 as a result of the Ukraine-Russia war.As of March 31, Avolon had 10 owned aircraft located in Russia representing less than 1% of Avolon’s portfolio value net ...
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NewsIATA: Air cargo demand drops in March amid "growing challenges"
Source: IATACovid, the Ukraine war and oil prices all contributed to a drop in demand in global air cargo markets in March, according to data from the International Air Transport Association (IATA).Cargo demand is tracking below pre-Covid-19 levels, and like February, capacity remained constrained.Global demand, measured in cargo tonne-kilometers (CTKs), ...
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Airfreight rates begin to rise in April
Airfreight rates on major east-west trades began to creep back up in April following the previous month's decline, as demand began to rise in line with seasonal trends.The latest figures from the Baltic Exchange Airfreight Index (BAI) show that in April the average rate from Hong Kong to North America ...
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Maersk completes acquisition of Pilot
Shipping giant AP Moller Maersk has completed its acquisition of US forwarder Pilot Freight Services in a deal worth $1.7bn.As a result of the acquisition, international and domestic supply chain provider Pilot Freight Services will be rebranded to Pilot – A Maersk Company.The transaction price of $1.7bn equals to an ...
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DHL airfreight volumes edge up but revenues fly
DHL Global Forwarding saw its airfreight revenues jump in the first quarter of the year despite volumes increasing by a much lower amount.The forwarder's airfreight business saw revenues increase by 55.% year on year to €2.9bn. Gross profits improved by 10% to €488m but volumes were up by just 3% ...
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Cargojet revenues jump in Q1 as it expands B777 conversion order
Canadian freighter operator Cargojet registered a jump in revenues in the first quarter and has expanded the number of B777 conversions it has on order (see below).The company reported a 45.7% increase in first-quarter revenues to $233.6m with strong growth in the all-in charter segment.The company said the all-in Charter ...
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DSV and K+N outline a complex market with higher rates to continue
Kuehne+Nagel (K+N) and DSV highlighted a complex logistics market in their recent quarterly updates, with higher freight rates to stay, softening consumer demand and ongoing supply chain disruption.K+N was the first to reveal its results, with revenues and profits continuing to surge on the back of acquisitions on higher prices ...
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NewsMenzies Aviation takes majority stake in Agunsa Aviation Services
Photo: Menzies AviationMenzies Aviation has acquired a controlling stake in Agunsa Aviation Services, which provides full ground and air cargo handling services in Santiago, Chile.Agunsa Aviation Services was a wholly owned subsidiary of Agencias Universales SA, a large and diverse Chilean business with a long history in logistics, originally in ...
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NewsCargolux racks up over a billion in 2021 profits
Cargolux Boeing 747-8 freighter. Photo: CargoluxCargo airline Cargolux’s 2021 results show profit after tax of $1.3bn, an increase of 68% over 2020.The Luxembourg-based airline saw an increase in tonnage and higher yields, recording revenues of $4.4bn, an increase of 40% over 2020.Earnings before interest and tax (EBIT) were $1.72bn, an ...
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DSV gross profit grows 61% in Q1 2022 bolstered by air and sea freight
Freight forwarder DSV reported gross profit grew 61% in the first quarter of 2022 with the Air & Sea division achieving an EBIT growth of 109%.The Air & Sea division’s revenue amounted to DKr45,887m for the first three months of 2022, compared to DKr22,924m for the same period last year.For ...
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Cargo-partner buys UK partner as it expands in western Europe
Logistics firm cargo-partner has fully acquired its UK-based partner, Aztek International Freight, following its purchase of a third of the company in 2021.The move will add two new offices to the cargo-partner network, in East London and Bradford, in addition to the company's existing office in Manchester, and continues the ...
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NewsWorldACD: Air cargo demand flat in Q1 as lockdowns take their toll
Air cargo demand was flat in the first quarter of the year as Russia's invasion of Ukraine and lockdowns in China put the breaks on growth.Figures from data provider WorldACD show that chargeable weight transported by air cargo increased by 2% year on year in January and February but then ...
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Profits continue to soar at Kuehne+Nagel in Q1
Kuehne+Nagel (K+N) saw its overall and airfreight profits continue to soar in the first quarter of the year as supply chains remained under pressure and demand continue to improve.The forwarder reported an increase in airfreight revenues of 91% year on year to SFr3.1bn on the back of a 32.6% increase ...
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Cargo revenues continue to surge at American in Q1
American Airlines saw its cargo revenues increase again in the first quarter of the year after a record performance in 2021.The Dallas Fort Worth-hubbed carrier reported cargo revenues of $364m in the first quarter, an increase of 15.4% compared with a year earlier on the back of improved yields.The increase ...
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Shanghai factories to restart production but supply chain issues continue
Factories in the Shanghai area are slowly returning to production in a closed-loop system but supply chain disruption is expected to continue for some time.Companies were last week asked to submit plans to stop of the spread of Covid-19 before they could re-start production.In total, 666 companies have been white ...