Business – Page 36
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NewsVirgin Atlantic Cargo revenues soar in 2021
Source: Virgin Atlantic CargoVirgin Atlantic Cargo saw its revenues more than double to record levels in 2021 as it ramped up cargo flying and airfreight rates hit new highs.The UK-headquartered airline saw its revenues increase by 40% year on year to £448m, while it was up by 200% compared with ...
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US regional carrier Alpine swoops on Suburban
US regional air cargo carrier Alpine Air Express has acquired Suburban Air Freight as it looks to continue its recent expansion.The deal is Alpine's second acquisition since it became a portfolio company of private equity firm AE Industrial Partners (AEI) - it also acquired the assets of Great Lakes Airlines ...
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Kuehne ups his stake in Lufthansa
Kuehne+Nagel majority owner Klaus-Michael Kuehne has doubled his stake in German airline Lufthansa to 10%.In a stock exchange note, the airline revealed that German national Kuehne's KA Logistik Beteiligungen made the investment on April 8.He is now the second largest shareholder in the airline behind the German state, which owns ...
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NewsBillund Airport seeks to double airfreight by 2040
Red and blue buildings show possible developments. Photo: Billund AirportBillund Airport in Denmark and Danish pension company PensionDanmark are collaborating to more than double airfreight at the airport from 77,000 tonnes of goods per year to 160,000 tonnes per year in 2040.The long-term strategic collaboration to create “Airport City” aims ...
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NewsRoyal HaskoningDHV acquires air cargo supply chain specialist
From left: Erwin Faber (Districon), René Dahmen, Sabine Bink, Marije Hulshof (Royal HaskoningDHV), Jeroen Kiks and Jack Pool (Districon). Photo: DistriconNetherlands-based engineering consultancy firm Royal HaskoningDHV has acquired Netherlands-located supply chain solutions company Districon that has links to the air cargo industry.Districon brings to the deal its "knowledge of optimising ...
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Moscow supports Volga-Dnepr with "unprecedented" deal
The Russian government has signed an "unprecedented" deal with the Volga-Dnepr Group for the creation of air bridges between Russia and several countries to carry critical goods.Writing in his blog, the Mayor of Moscow, Sergey Sobyanin, said that on behalf of the president of Russia, Vladimir Putin, an agreement had ...
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NewsIATA: Air cargo up in February but uncertainty looms
Global air cargo demand was up 2.9% in February compared to February 2021 although capacity is still constrained, according to the latest International Air Transport Association (IATA) data.Cargo is tracking above pre-COVID-19 levels said the trade association. Demand, measured in cargo tonne-kilometers (CTKs) rose 2.5% for international operations year on ...
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Newsdnata to enter German cargo market through acquisition
Source: dnata and Cologne Bonn AirportCargo handler dnata will enter the German market at Cologne Bonn Airport (CGN) through the acquisition of Wisskirchen Handling Services.Wisskirchen is the exclusive operator of the Cologne Bonn Cargo Centre, a 12,000 sq m facility at CGN, and provides a full range of cargo services ...
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NewsDachser revenues exceed €7bn for the first time
Photo: DachserAirfreight charters helped German logistics company Dachser record a 78.3% jump in revenues at its Air and Sea Logistics unit to just over €2bn in 2021.Total group annual revenues went above €7bn for the first time, a 20% increase over Covid-hit 2020, while the forwarder also warned of continuing ...
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InsightsAirfreight customers take hit from Ukraine rates rise
Airfreight customers will pay the price as the Russia-Ukraine war continues and impacts rates.Speaking exclusively to Air Cargo News, The Air Charter Association chief executive officer Glenn Hogben says airlines have been forced to change their Asia-Europe routes to avoid Russian and Ukraine airspace since the later country was invaded, ...
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Bolloré agrees €5.7bn deal to sell African logistics business
The Bolloré Group has agreed to sell its African logistics business to container shipping giant MSC in a deal with an enterprise value of €5.7bn.The two companies entered discussions over the sale in December and, following the favourable opinions issued by each of the employee representative bodies, the two companies ...
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NewsMixed outcome for airlines in battle against air cargo cartel fines
Source: ShutterstockThere was mixed outcome for airlines in their battle against air cargo cartel fines issued by the European Commission.On March 30, the European Union (EU) General Court dismissed the actions brought by Martinair Holland, KLM, Cargolux Airlines, Air France-KLM, Air France, Lufthansa, Singapore Airlines and Singapore Airlines Cargo and ...
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Menzies and NAS finalise £571m takeover deal
Menzies will recommend to shareholders a takeover offer from Agility subsidiary National Aviation Services (NAS) that values the company at £571m.The two companies today announced they reached agreement on the terms of a recommended cash offer to acquire 100% of the ordinary shares in Menzies at a price of £6.08 ...
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Rates decline in March despite Ukraine crisis and Covid restrictions
Airfreight rates on major east-west trade lanes declined in March despite the impact of the Ukraine crisis on airfreight and supply chain disruption in Asia caused by Covid.The latest figures from the Baltic Exchange Airfreight Index (BAI) show that in March rates on services from Hong Kong to North America ...
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NewsEuropean Cargo announces growth accelerator investment
Photo: European CargoEuropean Cargo Limited has closed a minority equity investment that will be partly used for converting the company’s A340 fleet to full cargo freighters.The minority equity investment has been made by Priority 1 Logistics Holdings LLC, a newly-formed subsidiary of US-based, Priority 1 Holdings LLC.Proceeds of the investment ...
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NewsTIACA launches industry first sustainability programme
Photo: petrmalinak/ ShutterstockThe International Air Cargo Association (TIACA) has officially launched the “BlueSky program”, the air cargo industry’s first sustainability assessment, validation and verification programme.TIACA said the sustainability programme is a tool that air cargo industry stakeholders can use to track their sustainability progress, benchmark against peers and accelerate the ...
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NewsEV Cargo expands in air cargo with Fast Forward acquisition
Heath Zarin. Source: EV CargoEV Cargo has acquired Netherlands-headquartered Fast Forward Freight in a move that will more than double the firm's annual airfreight volumes.The company - owned by Hong Kong-based private equity firm EmergeVest - said that the acquisition is part of its previously announced corporate strategy to expand ...
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NewsEtihad Cargo renews Cargo iQ certification
Photo: Etihad CargoEtihad Cargo has successfully renewed its Cargo iQ certification in accordance with Cargo iQ Standards for quality management.Following an audit on the UAE national carrier’s compliance with the Cargo iQ airline member requirements conducted by independent auditor SGS, Etihad Cargo achieved Cargo iQ recertification for its global network.Etihad ...
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NewsRussian fleet sanctions squeezing capacity
Photo: AntonovSanctions imposed on Russian aircraft fleets are further squeezing air cargo capacity in an already constrained market.Pierre Van Der Stichele, vice president of global freight at aviation services group Air Partner told Air Cargo News that airspace bans on Russian aircraft imposed by the EU, US and others have ...
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Triumph powers Mammoth Freighter' 777 freighter conversions
Triumph Group’s Actuation Products & Services operating company has been selected to supply hydraulic power pack units on Mammoth Freighters' Boeing 777 freighter conversion programmes.The hydraulic power pack units were designed, qualified, and manufactured at the North Carolina-based Actuation facility and are expected to offer a cost-effective solution for Mammoth's ...