Business – Page 55
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News
Damco brand to be axed as part of re-organisation
Damco parent AP Moller Maersk has announced that it will integrate the forwarder into its own logistics business.The shipping giant said that as a result, the Damco brand will disappear from the market by the end of 2020.The move will see Damco's air and less than container load (LCL) offering ...
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Azul's domestic e-commerce operations push up revenues
Brazilian carrier Azul is celebrating 11 years of operations and has said that despite the coronavirus pandemic this year, it has seen growth in some areas of the business.In the first quarter of 2020, Azul Cargo Express's revenues were 36% higher than in the same period of 2019.The company said ...
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Air cargo traffic stabilises in July as capacity reductions push up utilisation
Air cargo traffic was stable in July but demand continues to be constrained by the lack of bellyhold capacity, according to the latest monthly report from IATA.Figures from the airline association show that demand in cargo tonne km terms fell by 13.5% year on year in July.IATA said this is ...
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Neutral Air Partner partners with Bridges Worldwide to deliver express solutions
Freight networking group Neutral Air Partner (NAP) is working with Bridges Worldwide to provide international express and courier linehaul solutions.The strategic partnership between the companies will provide NAP members with a platform of neutral linehaul solutions and block space agreements (BSA) on scheduled freighter services and commercial airlines for express ...
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Kerry Logistics sees revenue and profits rise in H1 2020
Asia-based Kerry Logistics has achieved increased revenues and profits in the first half of this year, demonstrating its "diversity, adaptability and agility", despite disruption caused by the Covid-19 pandemic.The company saw core net profit rise up 26% to HK$845m in the first half of 2020 as profits at its international ...
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Virgin Atlantic Cargo launches operations between UK and Pakistan
Virgin Atlantic Cargo is set to operate flights between the UK and Pakistan from December this year, after creditors voted in favour of its restructuring plan.Virgin Atlantic will operate three new routes: London Heathrow to Lahore; London Heathrow to Islamabad; and Manchester to Islamabad."Trade in goods and services between the ...
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Q7 Air Cargo invests in perishables specialist Airflo
Dubai-based logistics firm Q7 Air Cargo is to acquire an interest in the Dutch holding company of perishable forwarder Airflo from the Dutch Flower Group.Q7 Air Cargo and its sister company, Tiger Freight, are long term operators in the African perishable logistics industry and their participation in the Airflo businesses ...
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Swissport secures €300m funding commitment
Ground handler Swissport has received a funding boost as it continues to battle through the difficult trading conditions resulting from the coronavirus outbreak.The company said it had secured a €300m binding commitment from an ad hoc group of senior secured creditors, subject to final documentation, which would deliver immediate liquidity ...
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NewsUnited flies its 5,000th cargo-only PAX flight
United Airlines Cargo has flown its 5,000th cargo-only passenger aircraft flight since it began operating them in March.During that time, the carrier has transported almost 170m tonnes of airfreight on these cargo-only flights alone, which are operated with some of its Boeing 777s and 787 aircraft.Cargo shipped on the special ...
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Korean doubles down on cargo amid challenging passenger market
Korean Air’s second quarter operating profit on the back of strong cargo performance offered a dash of positive news to a sector reeling from the coronavirus pandemic.With most carriers in the Asia-Pacific suffering heavy losses through the evaporation of passenger demand, Korean generated a W149bn ($126m) operating profit in the ...
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News
Mixed performance for Agility in H1
Agility saw its profits dive in the first half, although its airfreight business performed well.The company saw its revenues for the first half decrease by 1.3% year on year KD765.1m, earnings before interest, tax and depreciation (ebitda) was down 20.1% to KD75.8m and net profits slipped by 61.3% to KD16.2m.The ...
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Air Canada Cargo signs up to combat illegal wildlife trafficking
Air Canada Cargo has become the latest airline to sign up to the United for Wildlife (UFW) Buckingham Palace Declaration that aims to combat the illegal trade in wildlife.By signing up to the declaration, companies aim to increase passenger, customer, client, and staff awareness about the nature, scale, and consequences ...
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Cargo the bright spot as Cathay navigates "most challenging" period
Cathay Pacific Group reported an operating loss of HK$8.7bn ($1.13bn) for its half-year financial results, in what its chairman called the “most challenging” period for the group in its 70-year history.Cargo proved to be the sole bright spot for the troubled group, which in recent months was the subject of ...
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News
TIACA and Pharma.Aero partner to deliver guidance on vaccine transportation
TIACA and Pharma.Aero have teamed up to deliver guidance for the air cargo industry on the transportation of Covid-19 vaccines.Developed in four packages through a joint working group, the guidance will ensure feedback from all stakeholders in the supply chain of air cargo and pharmaceuticals.The working group will consist of ...
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NewsAviaAM Leasing acquires B747-400F on behalf of Magma Aviation
AviaAM Leasing, part of the Avia Solutions Group, has purchased a Boeing 747-400F nose-loader freighter.The aircraft, which is part of the Magma Aviation fleet, accomplished its first commercial cargo flight on August 4.Magma Aviation designs and delivers bespoke air cargo transport solutions for routes worldwide. It believes that the new ...
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NewsAmerijet achieves IATA CEIV Pharma recertification
US-based Amerijet International Airlines has achieved IATA CEIV Pharma recertification following an independent assessment carried out by the association.The recertification marks the carrier’s capability of handling pharma and temperature-sensitive cargo at IATA’s globally recognised standard.Located at Miami International Airport, Amerijet's 360,000 sq ft (33,500 sq m) facility is comprised of ...
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ATSG: "Strong demand" for leased freighters during coronavirus
Aircraft leasing company Air Transport Services Group (ATSG) has highlighted that its half-year results reflect "solid growth, improving cash flows and strong demand for leased cargo aircraft".During the first half of this year, the group's revenues increased 13% to $378m, while adjusted ebit rose 20% to $125.6m."Increased contributions from ATSG’s ...
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Forwarder and shipper charter deals propel Atlas Air in Q2
Atlas Air Worldwide Holdings saw its operating revenues and income increase during the second quarter of the year as forwarders and shippers looked to secure freighter capacity through charter deals with the firm.The New York-headquartered lessor reported second quarter operating revenues of $825.2m — up 24.3% on year earlier — ...
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Lufthansa Cargo revenues lifted by capacity crunch
Lufthansa's logistics division, which includes Lufthansa Cargo, saw revenues rise in the first half of this year, despite significant cuts to bellyhold capacity.The carrier said this outcome was a result of demand outstripping supply. "Demand for the remaining cargo capacities went up during the first half-year of 2020, with the ...
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Virgin Atlantic's cargo flights continue as it applies for bankruptcy protection
Virgin Atlantic has confirmed that it will continue its cargo operations after filing for Chapter 15 bankruptcy protection in the US.The airline told Air Cargo News that cargo operations will continue while it goes through the process of securing court approval for its creditor backed restructuring plan.Cargo flights will therefore ...