Business – Page 53
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News
IAG Cargo charter ops bump up Q3 revenues
In its latest financial figures, IAG Cargo has revealed that it made use of its scheduled capacity and "bespoke" charter operations to achieve an increase in revenues in the third quarter of this year.The company reported a 14.1% year-on-year increase in revenues, to €302m, for the period of July to ...
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Blue Dart sees profits rise in Q2
India’s Blue Dart Express handed its staff a $352 bonus after posting a ₹414m ($5.6m) profit after tax for its fiscal second quarter 2020, a 196% increase on the ₹140m ($1.9m) in the same period of 2019.Blue Dart, which is preparing for the logistics of distributing a Covid-19 vaccine, saw ...
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Asian volumes boost UPS in Q3
Strong outbound demand from Asia helped fuel a 15.9% increase in third quarter 2020 consolidated revenues for UPS to $21.2bn.The US-headquartered global parcels and logistics giant saw third-quarter consolidated average daily volume increase 13.5% year over year, while operating profit was $2.4bn, up 11% compared to last year’s third quarter.Said ...
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NewsDSV targets e-commerce with Prime deal while air cargo improves in Q3
DSV Panalpina has acquired e-commerce specialist forwarder Prime Cargo, while it has also announced continued growth in its airfreight business in the third quarter.The Denmark-headquartered forwarder has agreed to purchase Prime Cargo, including its activities in Denmark, Poland and China, from the Mitsui-Soko Group in Japan for an undisclosed sum.Prime ...
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NewsForwarder LILA looks to the horizon after PPE win
Ian Antonio, LILA managing directorUK-based freight forwarder LILA International Logistics is aiming to expand next year after a success 2020.The start-up forwarder was launched in 2018 and is currently a team of four but hopes to expand numbers next year and move to larger offices after bringing on PPE provider ...
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Air cargo demand continued to rally in September
Air cargo demand continued its gradual recovery in September with figures heading back towards year-ago levels, according to data from WorldACD.Figures from the data provider show that demand in September was down 12.5% year on year, which brings "some reason for optimism". This compares with a 33% decline in demand ...
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NewsTIACA calls for an end to 'misleading' weight-based load factor
TIACA is calling for the air cargo industry to adopt the dynamic load factor developed by CLIVE Data Services over the "misleading" traditional weight-based system.The dynamic load factor methodology measures how full an aircraft is by considering both freight volume and weight, rather than just weight, as aircraft often reach ...
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NewsCool Chain Association teams up with IATA
Andrea Gruber, Head of Special Cargo at IATA and Nicola Caristo, CCA Secretary General and Airline Partner Manager, SkyCellThe Cool Chain Association (CCA) and IATA have signed a Memorandum of Understanding (MOU) to support efforts to improve the sustainable transport of perishables and pharmaceuticals.As partners, the two group will develop ...
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US cargo carriers quizzed on PSP funds
Four US cargo carriers have been asked to hand back or demonstrate that they needed more than $630m in Covid-19 support funding as part of the Payroll Support Program (PSP).James Clyburn, chairman of the select subcommittee on the coronavirus crisis, sent letters to Atlas Air, Kalitta Air, Western Global Airlines ...
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Copenhagen Airport relies on preighter capacity to develop as "airfreight gateway to Scandinavia"
Copenhagen Airport (CPH) has revealed that continuous 'preighter' operations have helped it to establish itself as an "airfreight gateway to Scandanavia" after the bulk of it cargo capacity — bellyhold — was cut at the onset of the pandemic."Looking back to February this year, the majority of airfreight in and ...
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News
Dnata enters Indonesian market with new partnership
Ground handler dnata has expanded its footprint in the Asia-Pacific region and entered the Indonesian market through a partnership with PT UNEX Rajawali Indonesia (UNEX).The handler is based at Soekarno-Hatta International Airport (CGK) and offers ground handling and cargo warehousing services.The partnership will see dnata and UNEX make joint investments ...
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NewsK+N reports improved airfreight market in Q3
Kuehne+Nagel's airfreight operating profits and revenues were up in the third quarter of the year on the back of improved market and despite a decline in volumes.The Switzerland-headquartered forwarder saw third-quarter air cargo revenues increase by 8.7% year on year to Sfr1.2bn, gross profits were down 4.3% to SFr315m and ...
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United Airlines reports $1.8bn Q3 loss as revenue falls 78%
United Airlines reported a $1.8bn loss for the third quarter as it restructured its operations to reflect lower demand following the near-collapse of the passenger aviation industry earlier this year.The Chicago-based carrier says on October 14 that it had reduced its capacity by 70% during the recently completed quarter, resulting ...
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Air cargo not yet prepared for Covid-19 vaccine
A survey of air cargo stakeholders has found that only 28% of the sector feels well prepared for a Covid-19 vaccine.The Sunrays survey carried out by TIACA and Pharma.Aero found that just 28% say they are well prepared to distribute a Covid-19 vaccine, while 19% say they are very unprepared.Cargo ...
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NewsDHL Express plans Israel-UAE freighter flights
Yair Bitton, chief executive of DHL Express IsraelFollowing the recent negotiation of a peace agreement between Israel and the UAE, DHL Express has completed its first shipment from Israel to the UAE and has plans to launch flights between the two countries.After receiving official approval to initiate trade, Yair Biton ...
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NewsFrankfurt Cargo Services achieves IATA CEIV pharma certification
Cargo handler FCS Frankfurt Cargo Services has successfully concluded the IATA CEIV certification process for its pharma operations.The handler said it had upgraded its facilitates as part of the certification.Christoph Cyranek, manager of quality assurance and performance improvement at FCS, said: “In the course of the certification process, the FCS ...
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DP DHL records "strong business development" in preliminary Q3 results
Deutsche Post DHL has managed to achieve an increase in earnings before interest and tax (ebit) during the third quarter of this year and recorded "strong business development" ahead of its shift in focus to 'peak season'.Chief executive Frank Appel said in the company's preliminary third-quarter financial results: “We are ...
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NewsMicheal White to step down from CNS president role
Michael White is set to leave his role as president of IATA's US cargo organisation CNS at the end of the year as part of its restructuring programme.IATA said that White has taken voluntary redundancy and that a president would be appointed in advance of his departure."As an aviation-related organisation, ...
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IATA: Slow improvement in air cargo demand in August
The latest statistics from IATA show that air cargo volumes are improving only slowly despite a pick up in business indicators.According to the airline association, air cargo volumes in cargo tonne kms (CTK) declined by 12.6% year on year in August, which is a slight improvement on the 14.4% decline ...
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NewsPayCargo looks to expand after securing investment
Digital cargo payment system PayCargo has secured funding that it will use to expand the business and develop new technologies.The company today announced a $35m investment led by global venture capital and private equity firm Insight Partners.The funds will be used "expand global adoption of its electronic payments network and ...