Business – Page 54
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News
John Menzies looks to expand in cargo despite volume decline
Ground handler John Menzies saw its cargo volumes decline in the first half of the year but is looking to expand in the sector.The company reported a "resilient" performance in its cargo business as volumes dropped by 22% year on year as a result of reduced bellyhold operations due to ...
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News
Qatar Airways lands QR7.3bn state injection after heavy pre-crisis loss
Qatar Airways Group has turned in a pre-tax loss of QR6.96bn ($1.9bn) and a net loss of just over QR7bn, for a financial year that concluded before the airline industry felt the broad impact of the coronavirus crisis.The Doha-based carrier says that, at the end of the fiscal year on ...
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News
US DOT allocates $5.8m to Chicago RFD for cargo apron
The US Department of Transportation (US DOT) has allocated $5.8m to Chicago Rockford International Airport (RFD) to expand its cargo operations.The money will be will be used to construct a larger cargo apron to "meet growing demand".US Senator Dick Durbin commented: "Chicago RFD is not only a vital transportation asset, ...
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NewsAerSale swoops on 24 B757s as it eyes cargo conversions
Lessor and MRO firm AerSale has entered into a purchase agreement to acquire 24 Boeing 757-200 passenger aircraft that it will convert into freighters.AerSale, which offers and array of aviation services including conversions, said it had targeted Boeing 757 passenger aircraft as feedstock "for a burgeoning freight market".“Pre-Covid, more freight ...
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NewsIATA to hold annual general meeting virtually
IATA director general Alexandre de Juniac speaking at 2019’s IATA Annual General Meeting, held in Seoul.IATA will move its annual general meeting — traditionally the biggest event in the airline calendar — online, as the coronavirus outbreak continues to preclude large scale physical meetings.The airline trade body had initially rescheduled ...
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SAS Cargo achieves IATA CEIV Pharma re-certification
SAS Cargo has achieved IATA CEIV Pharma re-certification despite Covid-19 restrictions.SAS Cargo said that due to Covid-19 restrictions, the audit process for re-certification was carried out remotely.Nick Careen, IATA’s senior vice president of airport, passenger, cargo and security (APCS), commented: "In the middle of a global pandemic, those challenges are ...
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Volga-Dnepr Group notes 'stable' first-half results
Volga-Dnepr Group, which is in its 30th year of operations, said it has performed with "stability and consistency" in the first half of this year.Total revenue across the Group's three airlines (Volga-Dnepr Airlines, AirBridgeCargo Airlines and ATRAN Airlines), was up by more than 40% year on year, which was achieved ...
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E-commerce demand fuels FedEx revenues as it prepares for Covid vaccine
FedEx saw its revenues and profits improve in its fiscal first quarter as a surge in e-commerce demand propelled performance.The express giant saw revenues for the three months ended August 31 increase by 13.5% year on year to $19.3bn, while net income was up 67.8% to $1.2bn and operating income ...
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News
IATA confirms the departure of Glyn Hughes as head of cargo
IATA has confirmed that head of cargo Glyn Hughes will leave the organisation as part of a wider restructuring.Hughes will leave the position, which he has occupied for the last six years, through voluntary redundancy at the start of 2021.In a statement IATA said: "Due to the devastating economic effects ...
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News
Cathay to park 40% of fleet in long-term storage overseas
Beleaguered Cathay Pacific will move about 40% of its fleet to long-term storage locations overseas, as it adjusts downwards its forecasted capacity for the coming months.In its monthly traffic results for August, Cathay confirmed that it is parking a significant number of aircraft overseas, given that it “will be operating ...
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NewsIATA launches platform to improve transparency across the supply chain
IATA has launched a digital platform called ONE Source to help the airfreight industry match shipping needs with available capabilities and service providers across the supply chain.The move comes as the industry prepares to tackle mass distribution of Covid-19 vaccines when they become available.ONE Source, which is free for air ...
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News
IATA: Air cargo sector must act now to overcome the challenges of vaccine distribution
Air cargo has not only been a lifeline for the financially-troubled aviation sector, it has also acted as a lifeline for global society by transporting PPE and medical items around the planet during the Covid-19 pandemic. The sector still faces challenges though, said Glynn Hughes, global head of cargo at ...
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NewsIATA outlook: "Cargo is following a fairly typical recession recovery cycle"
Cargo continues to be the bright spot for the aviation sector, IATA revealed in a conference today in which the association's chief economist, Brian Pearce, gave a market update and outlined the role of air cargo during global economic expansion.Pearce explained: "Cargo volumes were hit much less than the passenger ...
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News
CEVA expands in Latin America with new offices
Freight forwarder CEVA Logistics has opened its own offices in Ecuador and Uruguay as part of a "strategic expansion".The company said that is has been established for many years in both countries through network partnerships and decided to open its own offices in each location to offer customers a "full ...
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NewsAir Cargo News Awards go digital
For the first time in its history, the Air Cargo News Awards is going digital. On October 29 at 4.30pm (GMT) the event will be live-streamed with the winners announced on aircargonewsawards.net.The Air Cargo News Awards, now in their 36th year, have always been a time to recognise the hard ...
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News
Bolloré Logistics HK achieves IATA CEIV Pharma
Bolloré Logistics Hong Kong has achieved IATA CEIV Pharma certification for its facility at Hong Kong International AirportThe certification is recognition that the company conforms to IATA's globally recognised pharma handling procedures and standards, and is "capable of providing seamless cool chain transportation across the entire supply chain".Bolloré Logistics said ...
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News
American Airlines: Customers accepting of no-show fee for cargo
American Airlines' customers have been understanding about its decision to adopt a no-shown fee for cargo that is not delivered as expected.The carrier's recently appointed president of cargo, Jessica Tyler, told Air Cargo News that the no-show fee had been introduced earlier this year as cargo capacity had become constrained.The ...
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News
NAP introduces Global Airline Partner Programme
Neutral Air Partner (NAP), a network for airfreight and logistics providers, has launched a Global Airline Partner Programme.The Programme offers airline partnership options including preferred carrier status, marketing, PR and communications, global or regional BSA/CPA agreements, charter deals, special cargo offerings, as well as target and volume incentives on a ...
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NewsDigital forwarder Beacon sheds light on its finance USP
Fraser Robinson, BeaconIn June this year, UK-based digital freight forwarder Beacon made logistics headlines when it secured $15m in its Series A fundraising round, from investors including, and most notably, Jeff Bezos, the founder and chief executive of Amazon.Beacon’s other high-profile investors included Uber founders Travis Kalanick and Garrett Camp, ...
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News
YTO confirms Alibaba share purchase
Chinese e-commerce giant Alibaba Group Holding has upped its stake in delivery firm YTO Express.YTO yesterday confirmed that Alibaba had purchased an additional 12% of its shares for Yuan6.6bn, bringing its stake in the company to 22.5%.News that Alibaba could be looking to up its presence in YTO broke last ...