Business – Page 48
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NewsOngoing US ocean delays to keep air charter operations busy
Delays to container shipping supply chains in the US, which are resulting in increased air cargo charter flights, could continue into the summer, according to Tom Pelliccio, executive vice president international at freight forwarder Pilot Freight Services (PFS).Pelliccio said that ocean shipping services are currently facing delays of around five ...
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NewsSteady increase in cargo demand at Bahrain International Airport
Bahrain International Airport has reported an increase in cargo demand last year, bucking global air cargo trends for the year.In 2020, hub saw a 3.2% year on year increase in cargo volumes to 300,205 tonnes. Volumes have increased steadily, from 2015 to 2020, by 17%.BIA's increase in cargo volumes in ...
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NewsAgility's net profits and earnings hit by "challenging" 2020
Agility's logistics division last year saw revenues and operating profits improve, but the overall company was held back by its infrastructure division in a "challenging year".The company posted a 2.7% year-on-year climb in revenues to KD1.6bn, while earnings before interest, tax, depreciation and amortisation (ebitda) declined 15.9% to KD162.4m. Net ...
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Pandemic freight demand assists pared-back CargoLogicAir
Freight activity catalysed by the pandemic helped UK-based CargoLogicAir last year to improve on a weak performance in 2019, the company has disclosed.The carrier – linked to Russia’s Volga-Dnepr Group – ran into problems in 2020 and sought a temporary suspension of its operating licence, which was subsequently restored in ...
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Dates confirmed for Multimodal event
UK logistics exhibition Multimodal has announced plans for the event to go ahead on October 19 to 21.The annual exhibition, which brings together thousands of people from across the supply chain, takes place at the NEC in Birmingham and also features conference sessions, networking and an awards.“We have been building ...
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Qatar Cargo offers discounts to local manufacturers
Qatar Airways Cargo will offer offer discounted rates to local Qatari manufacturers that are clients of Qatar Development Bank (QDB).The special discount is available to more than 350 Qatari exporters – QDB clients – that wish to export their locally made products on Qatar Airways Cargo flights.The two partners said ...
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NewsAir cargo and e-commerce help DP DHL to record earnings
Air cargo and e-commerce were two of the star performers at Deutsche Post (DP) DHL last year as operating profits reached record levels.The German parcels and logistics giant last year saw revenues increase by 5.5% year on year to €66.8bn, earnings before interest and tax (ebit) were up 17.4% to ...
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Positive cargo revenues for Cathay as group makes an overall loss
Hong Kong-based Cathay Pacific Group has highlighted the performance of its cargo division in its full-year 2020 financial results, as its overall performance was hit by the effects of the pandemic.The group posted an operating loss of HK$18.1bn last year; in 2019, it achieved profits of HK$3.4bn. Group revenues declined ...
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Amazon takes stake in ATSG
Amazon Air has taken a $132m stake in lessor and cargo aircraft operator Air Transport Services Group (ATSG).Amazon is exercising warrants that it has held since 2016 and 2018 to acquire 13.5m shares in the cargo airline, paying $9.73 per share, ATSG says in a filing with the Securities and ...
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Lufthansa Cargo expects a good 2021 and rates to ease in H2
The newly appointed chief executive of Lufthansa Cargo, Dorothea von Boxberg, is expecting another good year in 2021 but adds that rates are likely to cool in the second half.Lufthansa Cargo yesterday announced a record adjusted operating profit of €772m, more than double the previous record of €342m in 2010.The ...
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NewsIAG Cargo reports increased automotive demand
IAG Cargo has reported an increase in automotive traffic since the start of the year, predominantly with its airfreight charter service that was launched last year at the start of the pandemic.The carrier said it that this year it has already transported 8,000 tonnes of automotive parts, which suggests "a ...
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NewsLufthansa Cargo announces record profits and another B777F
Dorothea von Boxberg Credit: Lufthansa CargoLufthansa's air cargo business reported record operating profits last year and has also announced plans to add another Boeing 777 freighter to its fleet.The Lufthansa Logistics division, which includes Lufthansa Cargo, Jettainer, time:matters and its equity investment in AeroLogic, saw earnings before interest and tax ...
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NewsAir cargo makes recovery "that passenger departments will be dreaming of"
The latest data form CLIVE Data Services and TAC Index suggests that in the last 10 months, global air cargo volumes have recovered to pre-Covid levels, demonstrating the "robustness" of the market and "a recovery that airline passenger departments will be dreaming of".In its February 2021 report, analyst CLIVE Data ...
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Seko Logistics sets sights on growth in China
Following Seko Logistics' secured investment from Ridgemont Equity Partners, which was first reported by Air Cargo News in January, the logistics firm is planning to expand its presence in China.The company said expansion in China will help it to build on its airfreight and seafreight growth, which increased by 20% ...
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NewsChanging cargo trends keep Wallenborn busy
Jason BreakwellOnly a few months of 2021 has passed, but the year is already showing positive signs for road feeder services (RFS) business Wallenborn.Looking back on 2020, commercial director Jason Breakwell says volumes from March to December were around 10% higher than the previous two years. “This year has been ...
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East Midlands Airport consortium gains UK Freeport status
An East Midlands consortium, including the airport, was one of eight companies selected for Freeport status in England.The East Midlands bid for Freeport status was submitted by a consortium led by the two local enterprise partnerships, including East Midlands Airport.The proposition is based around the East Midlands Airport Gateway Industrial ...
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Record B767 deployments boost ATSG in 2020
Aircraft lessor ATSG has achieved increased revenues for the full-year 2020 following a record number deployments of converted freighters.The Wilmington-headquartered company reported a 8.1% year-on-year increase in customer revenues to $1.6bn and a 9.5% year-on-year increase in adjusted ebitda to $497m.During 2020, ATSG achieved 11 deployments via external lease (and ...
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NewsAir cargo boosts K+N in 2020
Kuehne+Nagel's (K+N) airfreight business registered improvements in profits and revenues last year, while the overall business reported declines.K+N said that 2020 was characterised by a weak first and a strong second semester.The forwarder's airfreight business saw revenues for the year increase by 11.6% year on year to SFr5.2bn, gross profits ...
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NewsIATA: Air cargo demand beats 2019 levels in January
Air cargo volumes returned to pre-Covid levels in January with demand even increasing compared with 2019 levels for the month.The latest statistics from IATA show that air cargo volumes in cargo tonne km terms were in January up by 1.1% compared with 2019 levels and 6.1% year on year.Meanwhile, capacity ...
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Cargo remains the bright spot for Turkish Airlines in 2020
A strong rise in cargo revenues helped Turkish Airlines end 2020 with a profitable final quarter at an operating level, though the Star Alliance carrier still posted a net loss of $836m for the full-year.While the carrier’s passenger revenues slumped by two-thirds for the three months ended December 2020, to ...