Business – Page 81
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European Commission 'infringed' UPS' rights by blocking TNT takeover
The European Court of Justice (ECJ) has ruled that the European Commission in Brussels infringed UPS’ rights when it stopped the US express parcel and logistics giant from buying TNT Express in 2013 for €2.2bn.A UPS spokesperson confirmed that UPS was proceeding with the process of suing the commission for ...
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FedEx to swoop on international express business of Israeli distribution firm
FedEx Express will acquire the international express business of Israeli logistics and distribution firm Flying Cargo Group.The announcement comes as Flying Cargo’s service agreement with FedEx Express is coming to an end.“Israel has been and remains an important market for FedEx, and our strong reputation in the market is built ...
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ASM moves to allay no-deal Brexit ferry port congestion concerns
Customs clearance software provider Agency Sector Management (ASM) says that plans are in place to continue processing the current levels of imports and exports at ferry ports when the UK leaves the European Union in March.ASM chairman Peter MacSwiney said that for imports of EU goods, the plan involves all ...
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Cargo demand in November a "big disappointment", says IATA
The air cargo industry failed to register an increase in demand in November for the first time since March 2016 in what has been described as a big disappointment.The latest figures from airline association IATA show that cargo traffic was flat in November compared with a year earlier, following 31 ...
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New powers for UK Police to restrict illegal drone use
Britain’s police forces are to receive tough new powers to curb the illegal use of drones following December’s shutdown of Gatwick Airport when drones were spotted near the UK hub’s runway.The minister in charge at the Department for Transport (DfT), transport secretary Chris Grayling, said today in a statement: “The ...
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KKR partners with Altavair in $1bn aircraft investment
US-based Global investment firm KKR is linking up with Altavair AirFinance with an initial $1bn capital commitment, part of which will go towards the acquisition of six “cargo aircraft” on long-term lease with “a diverse group of airline counterparties”.Dan Pietrzak, a member of KKR, said: “Since our first investment in ...
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Qatar Airways takes 5% stake in China Southern
Qatar Airways Group has acquired a 5% share stake in China Southern Airlines.The Middle East carrier said that the purchase of China Southern A and H shares continues a strategy to invest in “the strongest airlines around the world and continue enhancing operations and network connectivity”.Latest available fleet data indicates ...
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VINCI to pay £2.9bn for 50.1% stake in Gatwick Airport
VINCI Airports has signed an agreement valued at £2.9bn to acquire a 50.01% stake in the UK’s Gatwick Airport Ltd.The purchase from current shareholders Global Infrastructure Partners (GIP) is expected to complete in the first half of 2019.The other 49.99% in Gatwick will be managed by GIP, an independent infrastructure ...
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ACS sees record revenues in November
Aircraft broker specialist Air Charter Service (ACS) saw record monthly revenues of £61m in November, beating the previous monthly high of £52m.Group chief executive Justin Bowman said: “This is an outstanding achievement by the whole team, which is now more than 500 aviation experts. We saw substantial increases across all ...
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UK forwarder market sees consolidation as Ligentia swoops on Air & Cargo Services
Freight forwarder Ligentia Group has stepped in to purchase the business and assets of Air & Cargo Services Ltd, which had been facing financial headwinds.Ligentia said the purchase would provide a home to Air & Cargo Services' 79 employees and offer continuity of service to customers.The Leeds-headquartered forwarder added that ...
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Air cargo growth expected to weaken in 2019
Air cargo market growth is expected to continue to soften in 2019 with a slowdown in world trade predicted to hit volume and yield performance.In its annual market update, airline association IATA said that it expects cargo volumes to grow by 4.1% to 63.7m tonnes this year but improvements will ...
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Cargolux and Panalpina, rallying data for Cargo iQ's collaborative challenge
Freighter airline Cargolux and global forwarder Panalpina have won the first stage of Cargo iQ’s Q Rally challenge after working together to boost data quality and performance at Luxembourg Airport.The Cargo iQ initiative by the IATA quality standards interest group challenges its members to work together in collecting data which ...
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US retailers relieved as US delays $200bn China tariff increase
US retailers have welcomed news that the US has decided to hold off on implementing tariffs on $200bn worth of Chinese goods due to be implemented in January.The delay comes after China and US agreed to a 90-day truce on further tariffs hikes to allow talks to take place.From January ...
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LATAM finalises Mas Air Cargo sale
LATAM airlines has finalised the sale of its stake in Aerotransportes Mas de Carga (Mas Air), also known as LATAM Cargo Mexico, for an undisclosed sum.The stake has been purchased by a group led by current shareholders of Mas Air, with the deal completed on December 1.According to Flight Radar, ...
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How would a combined K+N and Panalpina stack up in terms of air cargo?
Recent events have fuelled market speculation that Kuehne+Nagel could be interested in holding talks with Switzerland-based freight forwarder Panalpina, but what would a tie-up between the two logistics giants look like in terms of air cargo? (see chart at end of article)The speculation started when Panalpina’s Peter Ulber announced he ...
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CEVA buys CMA CGM's freight management business as part of strategic shake-up
CEVA will buy shareholder CMA CGM’s freight management activities for $105m as part of a wider revision of its strategic plan that will see management at the shipping line take key positions within the forwarder.CEVA, which launched a transformation project in 2014, said that as well as the acquisition of ...
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Salmon demand helps keep LATAM's cargo traffic growing
LATAM Cargo saw revenues and volumes improve in the third quarter of the year, with demand for salmon helping to propel demand.The Chile-headquartered carrier, which operates 10 B767-300Fs, recorded total cargo revenues for the period of $279m, up 2.5% year on year, while cargo traffic improved by the same amount ...
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Simarco sees airfreight take off following acquisitions
Logistics firm Simarco recorded a 6% increase in airfreight volumes in the last 12 months following the acquisition of Heathrow-based Formula Goss International and (FGI) and Sutch and Searle.Simarco co-founder and chief executive Simon Reed said that the acquisitions made late last year had enabled Simarco to consolidate services of ...
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Emirates' H1 cargo volumes down slightly, while profits under pressure
Emirates SkyCargo recorded a slight dip in freight traffic during the first half of the year, while the overall group saw profits slide compared with a year ago.Figures released today by the Emirates Group show that cargo volumes for the first half of 2019 declined by 1% year on year ...
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Could DB revive plans to sell a stake in its Schenker forwarding business?
Deutsche Bahn (DB) could again consider the sale of a stake in its forwarding and logistics business Schenker as it looks to raise money for investment in its rail business.DB chief executive Richard Lutz recently told journalists in Frankfurt one way of potentially raising funds could be to launch an ...