Business – Page 82
-
News
Cargojet revenues up on overnight and charter business
Aircraft lessor Cargojet recorded a double-digit percentage improvement in revenues during the third quarter of the year on the back of its overnight and charter business.The Canadian company saw third-quarter revenues increase by 27.6% year on year to C$114.1m, adjusted ebitda was up 24% to C$31.5m and net earnings stood ...
-
News
Emirates SkyCargo reaches Cargo iQ milestone
Emirates SkyCargo has monitored nearly 823,000 shipments using Cargo iQ guidelines in the first six months since it received certification.According to data published by Cargo iQ, Emirates SkyCargo is one of the largest air cargo carriers for the total number of shipments tracked using Cargo iQ metrics and the carrier ...
-
News
CEVA earnings hit by Italian contract logistics problems
CEVA Logistics saw 2018 third quarter (Q3) and year to date (YTD) revenues hit by problems at its Italian contract logistics arm.CEVA, whose board rejected a $1.5bn takeover approach by Danish logistics operator DSV in mid-October, reported adjusted EBITDA of $55m for Q3 and $198m YTD, down $27m and $8m ...
-
News
ATSG completes Omni Air acquisition
ATSG has completed the previously announced acquisition of Omni Air International LLC (Omni Air), a passenger ACMI and charter services provider, for $845m.Omni Air, founded in 1993 and with a fleet of 13 passenger aircraft, a mix of Boeing 767 and Boeing 777 extended range units, serves the US and ...
-
News
DHL sees airfreight volumes decline despite revenue improvement
The world’s largest airfreight forwarder DHL Global Forwarding continued to see airfreight volumes tumble during the third quarter of the year, but still managed to record improvements in revenues and gross profits.The Bonn-headquartered forwarder saw total airfreight volumes decline by 5.2% year on year during the third quarter to 529,000 ...
-
News
Expeditors warns of airfreight rate volatility as profits hit new highs
US freight forwarder Expeditors has warned of increasing volatility in airfreight rates as it reports record profits for the third quarter of the year.The company saw third-quarter revenues increase by 16% year on year to $2.1bn, while earnings before interest and tax were up 9.4% on a year earlier to ...
-
News
Air Partner freight profits rise in steady first half trading
Air Partner reports “continued strength in freight” with gross profits up 36% to £1.5m in its results for the first six months of the year to July 31, 2018.Chief executive Mark Briffa noted that freight, which contributes 8% to group gross profit, “is an especially volatile sector, [so] these results ...
-
News
ATSG Q3 revenues on the rise and expects a 'good' peak season
US freighter lessor Air Transport Services Group (ATSG) saw 2018 third quarter revenues increase 13% to $204.9m and expects “a good peak season” for air cargo.ATSG, which provides Boeing 767 freighter uplift for Amazon’s US domestic overnight parcel network, saw adjusted EBITDA up 13 percent to $74.3m.Joe Hete, ATSG president ...
-
News
Air Canada Q3 revenue hits record high
Air Canada’s third-quarter results showed growth of 11% in operating revenue, which exceeded C$5bn for the first time in the carrier’s history.Operating expenses of C$4.6bn were up 17% compared to the same quarter of 2017, mainly driven by higher fuel prices and increased capacity.In terms of its cargo activities, the ...
-
News
XPO Logistics achieves ‘robust’ growth in Q3
US-based XPO Logistics saw its third-quarter revenue increase by 11.5% over the same three months of last year, to $4.3bn.Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose from $369.6m in the third quarter of 2017 to $414.9m for the same period of this year.The Connecticut-headquartered company’s logistics segment ...
-
News
Blue Dart reports Q2 profit as expansion continues
Indian express logistics services provider Blue Dart has posted $2.9m profit after tax for the quarter ended September. Revenue from operations for the quarter stood at $107.8m, it confirmed.The Mumbai-headquartered company, part of the Deutsche Post DHL Group, has been working hard to strengthen its presence across India. Earlier this ...
-
News
WiseTech Global gains foothold in Sweden
Global logistics software group WiseTech Global has continued its takeover strategy after acquiring CargoIT, a leading customs management and logistics solutions provider in Sweden.The Stockholm-headquartered company offers customs management, freight forwarding, warehousing and transport solutions to over 150 customers including DHL, Kerry Logistics, SAS Cargo and several automotive manufacturers.Richard White, ...
-
News
Lufthansa Cargo performance bolsters Group Q3 results
Strong demand and continuing high yields at Lufthansa Cargo resulted in the Group’s Logistics business segment raising its nine-month adjusted EBIT (earnings before interest and tax) 56.1% to €153 m.However, despite the strong performance in both cargo and the core airlines of the Group (Lufthansa, SWISS and Austrian Airlines), significant ...
-
News
DSV airfreight grows above market rate in third quarter
The DSV Air & Sea division reported a 10% increase in airfreight volumes for the first nine months of 2018, with seafreight recording 4% growth.The Denmark-based logistics operator says the airfreight increase was mainly driven by a strong performance on EMEA and American exports and compared well with an estimated ...
-
News
IAG Cargo Q3: tonnage down, yield up
IAG Cargo has reported commercial revenues of €290m for the third quarter, an increase of 8.1% on 2017 at constant exchange.Overall yield for July 1 to September 30 period was up 9.3% at constant exchange. Sold tonnes were down 0.5% and CTK volumes were down 1% whilst capacity grew by ...
-
News
Airfreight is vital to UK economy, says report
The UK economy is more dependent on airfreight than many of its neighbours, with nearly half (by value) of the country’s exports to outside the EU transported by air. Among the EU members, only Ireland ships a greater share of non-EU exports by air.This is one of many statistics in ...
-
News
Record tonnage for Heathrow
Five new services to China helped London Heathrow Airport achieve a record high of 1.3m tonnes, up 1.5%, in the nine months to September 30.Overall, revenues climbed 2.3% to £2.2bn “on the back of higher demand to fly and strong retail spend”, according to the airport.It says progress continues on ...
-
News
Panalpina increases profitability in a ‘very volatile environment’
Panalpina’s airfreight volumes increased 4% in the first nine months of 2018, in line with estimated market growth of 4%. Compared to the same period of last year, gross profit per ton increased 12% to CHF705, resulting in a gross profit of CHF530m compared with CHF456m.EBIT in airfreight increased from ...
-
News
CEVA stakeholder CMA CGM to provide "exit option" to other shareholders
CEVA Logistics is to broaden the partnership with CMA CGM, its major shareholder and strategic partner.As part of this initiative, CEVA Logistics will acquire the freight management business of CMA CGM.The Board of CEVA Logistics has also agreed that CMA CGM can offer to buy shares in CEVA Logistics from ...
-
News
IATA warns of ‘no deal Brexit’ chaos
The International Air Transport Association (IATA) has called for urgent action by the UK and the European Union to put in place contingency planning for the continuation of air services in the event of a ‘no-deal Brexit’, and to move much faster to bring certainty to three critical air transport ...