Business – Page 78
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NewsAsian air cargo faces short-term turbulence
IATA World Cargo Symposium 2019The Asian air cargo industry faces turbulence over the coming months, with predictions of further demand declines.Speaking at the World Cargo Symposium, IATA chief economist Brian Pearce painted a bleak picture for air cargo in Asia over the next few months.He said the US-China trade war ...
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CMA CGM set for Ceva stake of almost 90%
According to a report by Reuters, CMA CGM now controls almost 90% of the voting rights in Ceva Logistics.This follows a public tender offer from French shipping group of SFr30 per share. Reuters said this offer values Ceva at SFr1.67bn ($1.66bn) – a price that has been agreed after a ...
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ACS adds Shanghai office
Air Charter Service (ACS) has expanded its Asia operations with the opening of a new office in Shanghai in March.Headed up by Amos Chan, who joined ACS five years ago and previously worked for Hong Kong Air Cargo, the new Shanghai branch is the broker’s second in mainland China.According to ...
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NewsLufthansa Group: ‘another successful year’
Source: Lufthansa CargoLufthansa Group has posted a 6% year-on-year rise in total revenues for 2018.At €2.8bn, adjusted EBIT fell only slightly short of the €3bn recorded in 2017.Meanwhile, Lufthansa Cargo increased its record adjusted EBIT of 2017 by 2% to €268m.Chairman of the executive board and chief executive of Deutsche ...
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Etihad Cargo records strong performance
Abu Dhabi-based Etihad Airways has reported a loss of $1.28bn for 2018, an improvement on the $1.52bn loss it suffered the previous year.Total revenue fell from $bn to $5.9bn year on year. However, the airline said it had succeeded in improving its core operating performance by 34% – despite challenging ...
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Dallas Fort Worth airport gains CEIV Pharma
Dallas Fort Worth airport (DFW) has been awarded IATA’s Center of Excellence for Independent Validators (CEIV) Pharma certification.The Texan hub, which handled around 911,000 tons of airfreight in 2018, is one of only two airports in North America to gain CEIV Pharma certification.The airport teamed up with four DFW community ...
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Strong cargo performance as Cathay Pacific returns to profit
Cathay Pacific saw increased capacity, yield and load factors in cargo as it benefitted from robust demand in 2018. It says the 14.7% (to HK$2.03) increase in yield compared to 2017 reflected a rise in high-value specialist cargo shipments and higher fuel surcharges.Cargo capacity of Cathay Pacific and Cathay Dragon ...
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NewsAir France KLM Cargo signs up for IATA’s new DG AutoCheck
Marcel de Nooijer, executive vice president, Air France KLM Cargo (left) and Alexandre de Juniac, IATA director general and CEOAir France KLM Cargo (AFKL Cargo) has become the first airline group to adopt IATA’s Dangerous Goods AutoCheck (DG AutoCheck) for the acceptance of dangerous goods shipments.“DG AutoCheck provides a digital ...
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NewsAzul bids for Avianca Brasil assets
Brazilan airline Azul has signed a non-binding agreement with financially troubled Avianca Brasil to acquire its operating certificate, 70 pairs of slots and about 30 Airbus A320 aircraft.The $105m offer remains subject to a number of conditions, including due diligence, regulatory and creditors approvals. The airline filed for judicial recovery ...
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NewsIATA hopes to make paying for cargo easier
Eduardo Del Riego, CEO of PayCargo LLC and Aleks Popovich, IATA’s Senior Vice President, Financial and Distribution Services.PayCargo and IATA have established the IATA-PayCargo System to offer the air cargo industry “an advanced and efficient payment and settlement system.”The partnership marks the global expansion of an agreement that began in ...
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No Deal Brexit will push logistics cost up between 5%-35%, warn shippers
Slipping to a No Deal Brexit, and reverting to complicated WTO rules and tariffs, would impose additional costs of between 5% and 35% on the UK's supply chain, warn representatives of the UK's leading logistics organisations.Shippers and hauliers as well as the industry's trade association FTA, which represents more than ...
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NewsSome 40% of shippers unaware of dangerous goods regulations
IATA head of cargo Glyn Hughes at the IATA World Cargo Symposium 2019 in SingaporeA large number of shippers, some 40%, admitted to being unaware of the dangerous goods regulations governing airfreight.That statistic, drawn from the latest IATA shipper survey, was described as “a very alarming figure” by IATA’s head ...
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NewsFirst companies awarded IATA Fresh certification
IATA and the Hong Kong cargo community celebrate the first CEIV Fresh certificationThe first companies have passed IATA's CEIV Fresh certification programme for the handling of perishable cargo.At the IATA World Cargo Symposium, IATA revealed that Cathay Pacific Services Limited (CPSL) and Hong Kong Air Cargo Terminals Limited (HACTL) are ...
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IATA downgrades air cargo growth forecast to 2%
IATA has slashed its outlook for cargo growth over the coming 12 months as the US-China tariff dispute took more of a toll on performance than expected.Speaking at the IATA World Cargo Symposium in Singapore, the organisation’s chief economist Brian Pearce lowered its growth projection for freight tonne kms (FTK) ...
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Only connect: Supply chain collaboration call at WCS
Greater digital collaboration across air cargo’s supply chain and a need to speed up the digitisation process were two key themes raised in the opening session of IATA’s World Cargo Symposium in Singapore.Singapore Airlines’ chief executive Goh Choon Phong called for “pushing the pace” of digitisation in air cargo and ...
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IATA sets three priorities at WCS opening
IATA has called on governments and the air cargo industry to focus on three priorities to accommodate the expanding demand for air cargo and ensure the economic and social benefits of aviation can be maximized.The three priorities are: Accelerating the speed of process modernization, implementing and enforcing global standards, and ...
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NewsAlibaba increases investment in China’s express sector
ShutterstockAlibaba Group Holding Ltd will take a 14% stake in STO Express Co Ltd, one of the largest express delivery companies in China.Reuters reported that STO Express said that its controlling shareholder planned to set up a new subsidiary that will own a 29.9% stake in the courier firm.Alibaba will ...
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NewsUnisys calls for real time data to increase visibility and security
The air cargo industry needs to make three fundamental changes to modernise cargo management while increasing security of data and shipments, says Niranjan Navaratnarajah, cargo industry director for Unisys Asia Pacific.He will be presenting his case as a member of the panel in the Cargo Transformation Track at the IATA ...
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NewsAll the latest news from IATA's World Cargo Symposium 2019
As the global airfreight industry gathers in Singapore for IATA’s World Cargo Symposium 2019 (WCS19), the Air Cargo News editorial team of Damian Brett and Roger Hailey will be there to report from the must-attend event.Our refreshed, more user-friendly website, will have the latest news and analysis over the three ...
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NewsDHL GF: 2018 airfreight volume decline predominantly down to strategy
The world’s largest air forwarder DHL Global Forwarding has said the decline in airfreight volumes recorded in 2018 was largely down to its own strategy and not caused by market conditions.Last year the forwarder saw its air cargo volumes decline by 4.4% year on year to 2.1m tonnes while the ...