Business – Page 37
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News
Air cargo software platform Aircon launches
New air cargo software platform Aircon has closed a $1m dollar pre-seed round by Schematic Ventures.Texas, US-based Aircon facilitates air cargo rates and consolidation of cargo for freight forwarders and supply chain solutions providers. Development of the platform began in February 2021 and it will be launching live with forwarders ...
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News
Air cargo alliance aids price optimisation
TAC Index has formed an industry first alliance with a provider of SaaS solutions that optimise shopping and selling experiences to give the latter’s customers greater, more accurate and timely visibility into market air cargo rates.The alliance aims to help PROS customers optimise prices and maintain profit margins as the ...
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News
New blow for AirBridgeCargo as Bermuda suspends certificates
The Bermuda Civil Aviation Authority (BCCA) has suspended all airworthiness certificates for Russian aircraft on its registry.The suspension entered force on March 12 and is expected to effect around 700 aircraft.All of AirBridgeCargo's fleet of 18 freighters - four B747-400Fs, 13 B747-8Fs and one B777F - are listed on the ...
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NewsTurkish Cargo service quality certified by Cargo iQ
Turhan Ozen. Photo: Turkish AirlinesTurkish Cargo’s global operational service quality has been certified by IATA interest group Cargo iQ.Cargo iQ's mission is to create and implement quality standards for the worldwide air cargo industry.As part of the Cargo iQ requirements, all processes, including conformity of its operational processes, the services ...
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NewsSwissport targets acquisitions with new appointment
Pablo von Siebenthal. Source: SwissportSwissport is targeting an "ambitious" acquisition plan and has appointed Pablo von Siebenthal as global head of mergers and acquisitions (M&A) to head up the project.Von Siebenthal joins from Kuehne+Nagel on April 1 and will assume overall responsibility for the execution of Swissport's new global acquisition ...
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News
Turkish Cargo revenues and volumes jump in 2021
Turkish Airlines saw its cargo revenues rapidly increase last year on the back of volume improvements and higher prices.The carrier saw its cargo revenues for last year increase by 48% year on year to $4bn on the back of a 26% increase in cargo volumes to 1.9m tons.Higher industry rates ...
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NewsCathay Pacific targets cargo growth as it records 2021 loss
Photo: Cathay PacificCathay Pacific Group faced an attributable loss of HK$5.5bn in 2021 and is looking to increase "cargo capacity as much as practicable”.Cargo revenue in 2021 was HK$32.3bn, an increase of 31.8% compared to 2020. Cargo revenue tonne kilometres (RFTK) decreased by 1.1% to 8.2bn RFTK.The decline in volumes ...
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NewsAir cargo growth in January "below expectations"
Air cargo growth figures for January were "below expectations" while the outlook for the year ahead is uncertain, according to IATA.The airline association's latest monthly report shows that global air cargo demand in cargo tonne km terms increased by 2.7% year on year in January.Capacity for the month was up ...
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NewsDHL orders more B777s while forwarding loses top spot in air cargo
B777 freighter. Photo: DHLDHL Express has placed an order for six additional 777 freighters from Boeing as Deutsche Post DHL Group closed 2021 with record earnings.The purchase takes DHL Express' order book total to 28 777 freighters since it placed its first direct order in 2018. The express giant has ...
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News
Menzies predicts continued cargo growth as revenues jump 27%
John Menzies, which is currently in takeover talks, saw its revenue climb 27% to $1.35bn in 2021 compared to $1.1bn in 2020 and it expects cargo to fuel further improvements.The aviation services group said its underlying operating profit was $76m, up $100m since 2020 when it was hit by the ...
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News
Lufthansa Cargo: Ukraine crisis will cause 10% global capacity drop
Lufthansa Cargo expects global market capacity will be approximately 10% down as a result of the Ukraine invasion.Speaking at a press conference, Lufthansa Cargo chief executive Dorothea von Boxberg said this is because of restrictions for global fleets. Russian carriers are restricted by airspace sanctions by the European Union, UK ...
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NewsAir cargo has a "long way to go" on sustainability as resources remain scarce
Air cargo supply chain companies are ramping up their focus on sustainability but there is a "long way to go" as resources remain scarce, according to TIACA's latest sustainability survey.The latest annual TIACA Air Cargo Industry Sustainability Survey, organised in conjunction with consultancy Change Horizon, revealed that 55% of the ...
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News
TIACA’s board adds air cargo talent
Six people have been appointed to The International Air Cargo Association’s (TIACA) board of directors.The new board members bring experience from the airport, airline and handling sectors.Kai Domscheit is the chief executive officer of CHI Germany Cargo Handling. The business offers forwarding and airline handling, as well as trucking and ...
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News
Lufthansa Cargo posts record results
Lufthansa's cargo business has registered record results for the second year in a row as it benefits from improved demand and higher airfreight rates.The Germany-based airline's logistics division, which includes Lufthansa Cargo, Jettainer, time:matters and its investment in AeroLogic, saw revenues for 2021 increase by 38% year on year to ...
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NewsAir cargo market close to pre-pandemic levels but uncertainty ahead
The global air cargo market continued catching up with pre-pandemic levels in February as freight volumes, capacity and load factors stabilised close to 2019’s performance, with rates also slowly trending downwards.This is according to the latest data from industry analysts CLIVE Data Services, which found chargeable weight in February was ...
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NewsApex acquisition helps K+N to rapid airfreight growth
Kuehne+Nagel (K+N) saw its airfreight volumes increase by more than half last year as industry-wide demand soared and the company benefitted from its acquisition of Apex.The forwarder's total airfreight volumes for 2021 were up by 54.9% year on year to 2.2m tonnes, air revenues increased by 97% to SFr11.5bn and ...
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InsightsPutzger perspective: Outlook bright and tight
Copyright: Jaromir Chalabala/ ShutterstockStrong air cargo growth is expected to continue in the first half of 2022, but with continued pressure on capacity, writes Ian Putzger.Despite, and partly because of, ongoing turbulence, air cargo keeps going strong. The industry flew through 2021 with an 18.7% increase in traffic over 2020 ...
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InsightsRobust demand and rates for Asia-Europe air cargo
Asia-Europe air cargo trade looks set to continue with high rates and demand in 2022, writes Roger Hailey.Turbulence is an understatement when describing the many variables facing air cargo’s Asia-Europe trade lane in 2022.A cocktail of ingredients looms ominously: possible Covid-19 variants shutting down factories as well as airlines and ...
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InsightsSupply chain spotlight: Greener skies ahead
Photo: Scharfsinn/ ShutterstockThe Scottish Government is a leader in setting climate change targets, having committed to achieving net-zero greenhouse gas emissions by 2045.To determine how to meet its net-zero target while continuing to receive the social and economic benefits of air travel, the Scottish Government intends to produce an aviation ...
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News
Etihad Cargo registers record cargo results in 2021
Etihad Airways registered record cargo results last year as the airline ramps up its participation in the industry.The carrier saw cargo revenues last year increase by 49% year on year to $1.7bn - more than half its total revenues of $3.1bn - while volumes increased by 26.8% to 729,000 tonnes.Revenues ...