Business – Page 62
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News
IATA expects cargo traffic to drop by more than 15% in 2020
IATA is projecting that cargo demand could drop by more than 15% in 2020 as a result of the coronavirus outbreak.IATA global head of cargo Glyn Hughes said that figures set to be released in the coming days show that global demand in freight tonne km terms (FTK) was down ...
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NewsEMEA cargo crime continues to climb
Cargo thefts from supply chains in Europe, the Middle East and Africa (EMEA) more than doubled to 8,548 incidents in 2019 and involved losses of product worth well over €137m, according to the Transported Asset Protection Association (TAPA).The incident rate is the highest recorded in TAPA’s 23-year history and reflects ...
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Emirates announces cost-reduction plan in response to Covid-19
The Emirates group has announced a cost-reduction plan, as the outlook for travel demand remains weak due to the coronavirus (Covid-19) pandemic.Emirates chairman and chief executive, HH Sheikh Ahmed bin Saeed Al Maktoum, explained: “Emirates Group has a strong balance sheet, and substantial cash liquidity, and we can, and will, ...
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Emirates continues cargo services where "borders remain open"
Despite cutting the majority of its passenger flights due to low demand caused by the coronavirus, Emirates is continuing to run cargo and passenger services to a select number of countries "until further notice — as long as borders remain open" and there is demand.Emirates will continue its operations in: ...
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TIACA wants air cargo exempt from Covid-19 travel bans
The International Air Cargo Association (TIACA) has called on governments to exempt air cargo from any bans because of the vital role it will play in the fight to stop the spread of the coronavirus.TIACA said that the air cargo industry has a decisive role to play in the fight ...
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Lufthansa mulls cargo-only PAX flights while it cuts capacity
While announcing its 2019 financial results, Lufthansa said that it was considering using its idled passenger aircraft for freight-only flights while it also revealed drastic capacity cuts in response to the coronavirus.The German airline group said it would reduce capacity by 95%, parking up 700 aircraft, as part of measures ...
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IAG offers PAX aircraft for cargo charter
IAG is offering its passenger aircraft to freight forwarders for cargo operations in response to the coronavirus.In a short note to customers, IAG Cargo chief commercial officer John Cheetham said: "To support your freight and to help get it where it needs to be, we are now opening up the ...
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FedEx cancels outlook, prepares for capacity crunch
FedEx has cancelled its outlook for 2020 and has warned that airfreight capacity on the transatlantic will come under pressure.When announcing its third-quarter results, the express giant said that the unpredictable nature of the market — as a result of the coronavirus outbreak — meant it would not provide an ...
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DSV Panalpina withdraws 2020 outlook
DSV Panalpina has withdrawn its outlook for 2020 as market conditions remain hard to predict.The Copenhagen-based freight forwarder said that financial results for January were on budget but in February were around DKr150m lower than expected."As a result of the current global outbreak of coronavirus, supply chains and the global ...
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CEVA Logistics operates charters to maintain Asia-US supply chain
CEVA Logistics has contracted 86 freighter flights to help maintain the global supply chain as the coronavirus outbreak continues.The company is using the aircraft on a charter basis to deliver parts and supplies to its customers in the automotive, aerospace, computer and hi-tech electronics sectors.The majority of flights served routes ...
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Neutral Air Partner adds 24/7 support desk
Air cargo network Neutral Air Partner has added a 24/7 support desk to help members trying to meet coronavirus challenges.NAP and its time-critical sub group, NAX 24-7, said the support centre will provide assistance and solutions, helping its members connect with the right partners and service providers."Following the increasing and ...
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IATA highlights airfreight's importance in fight against coronavirus
IATA has highlighted the importance of airfreight in the global fight against the coronavirus outbreak and has called on governments to take "urgent measures" to ensure that supply chains are maintained in the global fight against COVID-19.The Association noted that the airfreight industry has so far helped to deliver essential ...
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Virgin Atlantic takes drastic action to safeguard business
Virgin Atlantic has implemented a "drastic" cost cutting exercise as it takes measures to offset a slump in demand as a result of the coronavirus outbreak.The airline noted a sharp and continual drop in demand for flights across its network, meaning "immediate and decisive action is needed"."Today, Virgin Atlantic will ...
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IAG looks at recruiting passenger jets to serve critical freight lines
IAG is considering recruiting some of its passenger aircraft for airfreight operations, to ensure that essential cargo supplies are maintained as the coronavirus crisis persists.Chief executive Willie Walsh, speaking during a March 16 briefing, said that governments “need to appreciate” that there is a strong cargo demand, and passenger aircraft ...
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Delta and United cargo divisions respond to Trump's Europe travel ban
Airlines' cargo divisions have responded to President Donald Trump's ban on individuals travelling from Europe to the US.From today (Friday 13), individuals from 23 countries in the European Union will not be permitted to travel to the US, due to US' fears about the spread of coronavirus.In response to the ...
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Reports: AirBridgeCargo in negotiations on freighter lease deals
Russian press reports suggest that AirBridgeCargo (ABC) is in negotiations with lessors over five of its B747 freighters.A Kommersant report quotes Tatyana Arslanova, executive president of AirBridgeCargo, as saying that the airline has entered negotiations with lessors over a break in the lease deals or reduced rates.She said that negotiations ...
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WorldACD highlights impact of "corona effect"
Ahead of its full results for February, which will be released in two weeks' time, WorldACD has released preliminary figures for the month, which it says give an outlook on the "corona effect" when combined with January's figures.The analyst explained: "Looking at February in isolation leads to an incomplete picture ...
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Cargo escapes US ban on travel from Europe
The White House has clarified that cargo is not included in the US ban on travel from Europe announced as part of efforts to stop the spread of coronavirus.Yesterday, US president Donald Trump announced an unprecedented travel ban from most of Europe to the US would begin at the end ...
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Cathay Pacific Cargo performs "below expectations"
Cathay Pacific reported that its cargo division performed "below expectations" last year, with cargo revenues of HK$21.1bn – a 14.3% decrease on 2018 revenues.Cargo revenue tonne km decreased by 6.7% to 11.3bn, volumes decreased by 6% to 2m tonnes and yields decreased by 7.9% to HK$1.87.Load factor declined by 4.4 ...
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NewsDHL airfreight volumes down 4.6% in 2019
The world’s largest airfreight forwarder DHL Global Forwarding saw airfreight revenues and volumes decline last year, but gross profit improved (see charts at end of article).The DHL Global Forwarding, Freight division saw total airfreight volumes for 2019 decline by 4.6% year on year to 2m tonnes, while revenues were down ...