Business – Page 52
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NewsEL AL and Etihad look to team up on cargo
Left to right: Tony Douglas of Etihad Aviation Group and Gonen Usishkin of EL AL AirlinesEL AL and Etihad will explore a new partnership as the UAE and Israel continue to forge closer business relationships following the signing of a peace deal earlier in the year.EL AL Israel Airlines and ...
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NewsBoeing's latest market forecast predicts ongoing demand for B767Fs
Boeing has issues its latest World Air Cargo Forecast, reiterating expected demand growth of 4% per year over the next 20 years and also predicting ongoing demand for B767 freighters.The airframer had already, in early October, released cargo-jet demand projections as part of a broader 20-year commercial aviation outlook.But Boeing’s ...
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The Baltic Exchange launches air cargo derivatives indices
Derivatives trading platform the Baltic Exchange has launched weekly airfreight indices to allow companies to hedge against rate swings.The Baltic Exchange has partnered with Hong Kong-based air cargo pricing publisher Tac Index on the new indices, which include six outbound indices and 17 individual destination baskets.These products will be branded ...
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IATA addresses vaccine transportation challenges with new guidance
IATA has published guidance for the air cargo industry to follow when transporting Covid-19 vaccines to ensure that they are moved safely and securely in what it says is the "largest and most complex global logistics operation ever undertaken".The Guidance for Vaccine and Pharmaceutical Logistics and Distribution addresses how key ...
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NewsAir cargo success at the Logistics UK Awards
Photo: Professional Images/@ProfImagesTwo air cargo companies picked up awards at today's Logistics UK Awards.Most innovative product of the year, sponsored by ITT Hub, was picked up by digital air cargo broker CharterSync, while the air business of the year, sponsored by Multimodal, was won by Kerry Logistics.The awards were presented ...
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SpiceJet Q2 losses narrow on cargo revenue growth
A steady increase in cargo revenue has helped Indian low-cost carrier SpiceJet narrow its quarterly operating loss, even as passenger travel demand remains in the doldrums amid the coronavirus pandemic.For the quarter ended September 30, the carrier reported an operating loss of Rs1.06bn ($14.2m), significantly lower than the Rs6bn loss ...
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Cargo helps Emirates limit its losses
Emirates saw its cargo volumes decline in the first half of its financial year as carrying capacity was heavily reduced as a result of the grounding of much of its passenger operations.The Dubai-hubbed airline reported first half cargo volumes of 785,000 tonnes, which is down 35% compared with 2019 levels ...
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DP DHL prepares for "very strong" peak season as Q3 revenues rise
Deutsche Post DHL Group (DP DHL) achieved increased revenues and operating profits during the third quarter of this year, despite the period being "an economic climate dominated by Covid-19".As the company prepares for a very strong peak season, the company said its third-quarter performance was a result of its "strong ...
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Agility's logistics business on the up in Q3
Agility's logistics business saw both revenues and operating profits increase during the third quarter of the year.Global Integrated Logistics' (GIL) third quarter earnings before interest, tax, depreciation and amortisation (ebitda) stood at KD18.5m, a 35.2% increase from the same period in 2019. Gross revenue was KD305.7m, a 7.3% increase from ...
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Etihad overhauls management as it adapts to being ‘mid-size’ carrier
Several senior Etihad Airways personnel, including chief commercial officer Robin Kamark, are stepping down from the Middle Eastern carrier as it undertakes an extensive reshaping to adapt to the changed market situation.The company said it is overhauling its business model to emerge as a “mid-sized carrier”, focusing on a fleet ...
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Qatar Cargo creates initiative to support local perfume exports
Qatar Airways Cargo has developed an initiative with Qatar Development Bank (QDB) that supports local perfume manufacturers in the State of Qatar.As part of the initiative, the carrier is offering discounted rates to Qatari perfume manufacturers in order to "help boost exports and sales of locally manufactured perfumes" and to ...
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Atlas Air reactivates another B747 as revenues rise
Atlas Air Worldwide Holdings will reactivate another B747 freighter after improvements in its third quarter figures thanks in part to expanded its e-commerce operations with Amazon and Alibaba.The lessor reported that third-quarter revenues increased by 24.9% year on year to $809.9m and net income increased 23.5% year on year to ...
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Air cargo demand helps Korean to Q3 operating profit
Air cargo demand helped Korean Air eke out an operating profit of W7.6bn ($6.5m) in the third quarter — its second consecutive profitable quarter since the coronavirus struck — but its overall revenue was down more than half from a year earlier.The W7.6bn operating result for the three months ended ...
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Operating profits take off at Lufthansa's cargo business
Lufthansa's logistics division saw profits massively improve on a year ago on the back of cost reductions and higher rates.The division, which includes Lufthansa Cargo and other businesses such as time:matters and Jettainer, saw third-quarter revenues decline by 2% year on year to €587m while revenue cargo tonne kms were ...
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Pilot Freight takes over franchise as part of growth efforts
Pilot Freight has acquired its Metro New York franchise as part of efforts to capitalise on the growing e-commerce market.The forwarder said that the franchise is a strategic asset due to the high concentration of deliveries for the Pilot system and the sustained sales growth across all service offerings.The leadership ...
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IATA: Air cargo recovery speeds up in September as US recovers
The latest statistics from IATA show that the speed of recovery in air cargo increased slightly in September — and this improvement is expected to continue throughout peak season.Meanwhile, US-based carriers reported their first increase in demand for 10 months.According to the airline association, airfreight volumes measured in cargo tonne ...
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Cargojet sees Q3 revenues improve on e-commerce demand
Cargojet Inc saw revenues and operating profits improve in the third quarter of the year on the back of increased demand for freighter services and growing e-commerce volumes.The Canada-based aircraft lessor reported a 38.2% year-on-year increase in third-quarter revenues to C$162.3m, while adjusted earnings before interest, tax, depreciation and amortisation ...
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NewsAllport to rebrand as EV Cargo Global Forwarding
Clyde Buntrock: Stuart Walker Photography 2020Allport Cargo Services will re-brand as EV Cargo Global Forwarding as part of brand consolidation efforts by its owner.As one of five business divisions within logistics and technology business EV Cargo, the forwarder will continue to offer international supply chain services, with investments ...
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Air France KLM sees cargo revenues improve despite volume decline
The Air France KLM Group (AFKLMP) continued to see an improvement in cargo revenues during the third quarter despite a decline in volumes.The airline group registered 31.7% year-on-year increase in cargo revenues during the quarter, while cargo volumes dropped 20% compared with last year to 220,000 tons.As a result of ...
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ATSG freighter deployments boost Q3 revenues and profits
Freighter lessor and operator ATSG saw revenues and profits increase in the third quarter of this year, partly due to its quarterly record of seven Boeing 767 freighter deployments to its leasing customers.In the third quarter of this year, the Wilmington-headquartered company reported a 10% year-on-year increase in revenues to ...