Business – Page 43
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News
IATA: Cargo demand increases as outlook remains positive
IATA has reported in its latest market analysis that cargo volumes increased in August 2021, compared with pre-Covid levels (August 2019), and the outlook remains positive.The association said global air cargo demand, measured in cargo tonne-kilometers (CTKs), was 7.7% higher in August this year than pre-Covid levels (August 2019).Meanwhile, global ...
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Pilot Freight Services expands presence in North America
Logistics provider Pilot Freight Services has acquired franchise stations in "strategic markets" in North America.Pilot said the franchises, which are in Oregon in Washington, and Oklahoma, will be integrated into its organisation "with no disruption in service offerings or senior management".The company said in a statement: "[The franchises] serve a ...
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Qatar Cargo sees volumes increase despite pandemic
Qatar Airways Cargo reported a 4.6% in cargo volumes in the fiscal year ending March 31 despite the loss of much of its bellyhold network due to the pandemic.The cargo division of Qatar Airways handled a total of 2,727,986 tonnes of cargo in the 2020/21 fiscal year to maintain its ...
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NewsWFS expands North American presence with Pinnacle Logistics deal
Source: WFSGround handler Worldwide Flight Services (WFS) has acquired Pinnacle Logistics as it looks to expand its presence in North America.Fort Worth-based Pinnacle is focussed on specialist express cargo handling for e-commerce customers and has a handling presence at Dallas Fort Worth, Houston, Austin, San Antonio, Allentown (PA), Minneapolis and ...
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Tiaca tells air cargo to brace for 'unprecedented challenges' in Q4
Supply chain group Tiaca has warned that the air cargo sector faces "unprecedented challenges" in the fourth quarter.The air cargo organisation pointed out that industry is already under pressure due to the lack of bellyhold capacity, modal shift due to issues in ocean shipping, unpredictable supply chain worker covid restrictions ...
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NewsChapman Freeborn appoints chief legal officer
Air charter specialist Chapman Freeborn, which is part of Avia Solutions Group, has appointed Zori Marshall into the role of chief legal officer (CLO).Marshall, who has more than a decade of experience in corporate and commercial law, was previously head of legal, and head of commercial and procurement at SSE ...
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News
Atlas Air pilots hit out at new five-year contract
Atlas Air pilots have criticised the new five-year collective bargaining agreement (CBA) announced earlier this week saying it makes the airline a place to train, not for a career.The new contract will merge the pilots of Atlas Air and Southern Air, which was by Atlas acquired in 2016, onto a ...
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NewsIATA World Cargo Symposium moves to Dublin
Source: IATAIATA's World Cargo Symposium has moved to Dublin with just weeks to go until one of the biggest events in the air cargo calendar is due to kick off.The event will now take place at the Convention Centre Dublin, running from October 12-14.WCS had originally been scheduled to take ...
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Hong Kong-US air cargo rates index reaches new high for the year
Air cargo prices on services from Hong Kong to North America surged to a new high for the year last week as the peak season kicks in and Golden Week approaches.According to the Baltic Exchange Air Freight Index (BAI), average rates on the route reached $9.70 per kg last week, ...
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News
Calls for all-cargo specific regulatory framework in aviation
Air cargo industry players and the UAE General Civil Aviation Authority (GCAA) are pushing for the development of an all-cargo specific regulatory framework to reflect the sector's status as distinct to passenger aviation.Ahead of ICAO's high-level conference on Covid-19 to be held October 12-22, director general of the Global Express ...
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News
DSV drops Panalpina from company name
DSV has decided to drop Panalpina from its company name two years after its acquisition of the Switzerland-based forwarder.The forwarder said the decision to drop the DSV Panalpina name in favour of DSV was approved by shareholders at an extraordinary general meeting earlier today."Since 2019, DSV Panalpina A/S has been ...
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Scan Global to acquire Orbis as it continues rapid expansion
Scan Global Logistics (SGL) has entered into a binding agreement to acquire New Zealand forwarder Orbis Global Logistics as it targets a top 15 spot in the air cargo market.SGL said the deal, which is set to be completed on October 5, will "significantly strengthen its position in the Pacific ...
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Air cargo rates up in August as peak season looms
Air cargo rates on major east-west trade lanes began to pick up in August as the industry faced supply chain disruption due to lockdowns in China and the peak season looms (see dashboard below).The latest figures from the Baltic Exchange Air Freight Index (BAI) show that in August average prices ...
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NewsAstral Aviation interlines with Airlink Cargo South Africa
Image source: Astral AviationKenya-headquartered freighter operator Astral Aviation and Airlink Cargo South Africa have signed a broad interline agreement to connect their networks.The companies said the commercial partnership could help to boost airfreight and logistics in Africa, as well as providing better access to the Sub-Saharan market through the their ...
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InsightsIATA: July a solid month for air cargo but risks remain
July was another solid month for the air cargo industry, but rising Covid numbers could disrupt the sector's recovery, according to IATA.The latest numbers from the airline association show that in July demand in cargo tonne km (CTK) terms increased by 8.6% compared with the same month in 2019 (used ...
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ACS reports record sales as cargo charters soar
Air Charter Service (ACS) reported record sales last year as demand soared at the broker's cargo division as a result of Covid-19.The company, which has just reported its latest annual financial results, saw sales reach $1.2bn for the financial year ending January 31 with all three division - private jets, ...
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NewsBaxter Freight aims for expansion after strong first half
Source: Baxter FreightBaxter Freight will continue its recent recruitment drive after reporting an increase in revenues at the half-year point.The Nottingham UK-based logistics firm saw revenues reach £12.9m in the first half, up from £7.7m a year ago. For the full year, the company expects revenues to reach £28m against ...
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Urban Outfitters turns to airfreight as Vietnam lockdown impacts supply chains
Fashion retailer Urban Outfitters has turned to airfreight to offset ocean supply chain disruptions and keep its products on shelves in Europe and the US.Currently, the company is experiencing difficulties getting its products from Vietnam, the manufacturing origin, to inventories in Europe and the US.Vietnam is in a strict lockdown ...
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China Southern Cargo gains AOC
China Southern Cargo has received its AOC as the parent group spins off its freighter operating business.The new C hina Southern Cargo business received its AOC from the Civil Aviation Administration of Central South China earlier this month, the carrier said via its official Weibo account.The new division will be ...
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Jas Worldwide to acquire Greencarrier Freight Services
Jas Worldwide has signed a share purchase agreement to acquire Swedish-headquartered forwarder Greencarrier Freight Services International.Greencarrier Freight Services International — a subsidiary of Greencarrier Group — offers freight forwarding, logistics, and supply chain management services. It has a presence in 11 countries and has a team of 800 employees.Jas Worldwide ...