Business – Page 84
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News
IATA calls for action in Indian aviation
IATA director general and chief executive Alexandre de Juniac has highlighted several areas that could maximise the potential contribution of India’s aviation industry to the country’s development.Speaking at the International Aviation Summit in Delhi, co-hosted by the Indian Ministry of Civil Aviation (MoCA), Airports Authority India (AAI) and IATA, de ...
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Europa Air & Sea posts record growth
The Air & Sea division of UK-based freight forwarder Europa Worldwide Group has posted second-quarter revenues of £35m, with record growth seen across both modes.Europa Air & Sea director Angus Hind said: “We’ve … seen a steady increase in UK exports for both air and seafreight, which I feel is ...
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Swissport declares ‘favourable’ half-year results
Swissport International has had a positive first half of 2018, with cargo volumes rising by five percent year on year to reach 2.3m tons.At €1.43bn, the handler’s total revenues for the January to June period showed an increase of 4.1% over the same six months of 2017. Cargo revenue climbed ...
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K+N: Trade tensions taking hold
“After a strong gauge in July, the new data show a negative trend. The sharpest slowdown is expected for emerging markets, which are most exposed to any impact from rising trade tensions. In September, a major setback in exports is expected in South Korea, Japan, Taiwan, India, and Brazil.”So says ...
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Aeroflot has good six months for cargo
Russian flag-carrier Aeroflot has reported its financial results for the first six months of this year, revealing a mixed picture.The news for freight was good. Cargo revenue rose by 13.9% year-on-year to RUB 8,178m as cargo and mail volumes grew by 10.6%.The carrier as a whole saw revenue rise by ...
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TIACA looks forward to ACF in Toronto
The latest (August) issue of TIACAtalks, a newsletter produced by The International Air Cargo Association, has offered a look forward to the trade body’s forthcoming big biennial exhibition, Air Cargo Forum (ACF).This year’s ACF, to be held in Toronto in October, promises to be “one of the most dynamic and ...
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West Atlantic flies high in first half
Express and mail airline West Atlantic has reported on a successful first half to this year.Revenue over the first six months of 2018 rose by 7.1% compared to the January-June period of 2017.Earnings were up thanks in part to what West Atlantic described as “continued strong growth for the Group’s ...
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CH Robinson expects peak season capacity constraints
Freight forwarder CH Robinson has declared the current air and ocean freight markets represent something of a ‘perfect storm’ and once again expects capacity constraints during the peak season.The peak shipping season has heated up early, the forwarder noted. Rates are up on the spot market, and air and ocean ...
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Rhenus opens new New Zealand subsidiary as it continues expansion
Freight forwarder Rhenus Logistics has continued its network expansion with the launch of a subsidiary based in Auckland, New Zealand.Rhenus Logistics NZ officially opened on August 20 and will provide a comprehensive international and domestic 4PL and 5PL solution for businesses in the region.The operation will also provide a customs ...
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SIA and Cainiao linking up for cargo services
Singapore Airlines (SIA) and Cainiao Network, the logistics arm of Chinese e-tailing giant Alibaba Group, will work closely to "enhance international air cargo services".The link-up, part of a wider passenger-led "comprehensive strategic collaboration" will see SIA joining Cainiao Network’s broader efforts in building "a global smart logistics network that delivers ...
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LATAM cargo revenues rise 16.8% in the second quarter
LATAM Airlines saw 2018 second quarter cargo revenues increase 16.8%, driven by a recovery in both imports and exports in the region.The Chilean-based carrier saw cargo revenues for the three months ended June reach $299.7m, helped by a 6.7% increase in cargo yields, mainly due to a better demand environment ...
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Bloomberg: Cerberus considers Swissport deal following WFS takeover
Reports from news wire Bloomberg suggest that investment fund Cerberus is considering a move for ground handler Swissport following on from its takeover of WFS in June.The report, which can be found here, said that the current owner, Chinese conglomerate HNA, is considering selling a majority stake in the handler, ...
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WiseTech Global acquires US trucking IT provider Trinium
Big-spending logistics solutions group WiseTech Global has made another acquisition, this time the purchase of Trinium Technologies, a provider of intermodal trucking management systems (TMS) in the US and Canada.Headquartered in Los Angeles, Trinium offers TMS for the movement of seafreight containers between port terminals, inland rail terminals, container yards ...
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Cargo helps propel revenues at ACS
Charter firm Air Charter Service has recorded a 23% increase in revenues during its first half fiscal year on the back of growth in its cargo business.The company said that during the six months ended July 31, revenues reached £240.5m.ACS chief executive Justin Bowman said: “We have had a stunning ...
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Southern Air pilots agree to interim agreement but demand further improvements
Southern Air pilots have ratified an agreement for interim enhancements to the collective bargaining agreement covering pilots, but union representatives are demanding further improvements.The interim agreement increases pay rates for Southern Air pilots to the same wage scales as provided to pilots of sister airline Atlas Air.It also provides for ...
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Rhenus to buy pharma specialist Avant Air and Sea in Ireland
Germany’s Rhenus Group has expanded its logistics presence in Ireland with the planned acquisition of temperature-controlled and pharmaceutical specialist Avant Air and Sea, subject to regulatory approval.Avant Air and Sea, headquartered in Dublin, also manages hazardous consignments and has been providing sea- and airfreight services and cross-border services for imports ...
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Hola Taric: WiseTech Global acquires Spanish IT firm
Logistics solutions group WiseTech Global has continued its expansion strategy with the acquisition of Taric, a customs management solutions provider headquartered in Madrid, Spain.Taric offers a range of customs management solutions, including regulatory and tariff services, consultancy, training, process control and documentation management solutions to carriers, customs brokers and logistics ...
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NewsCathay Pacific sees cargo improve while overall losses are narrowed
Cathay Pacific saw cargo revenues soar during the first half of 2018, while the overall airline group managed to narrow its losses.The Hong Kong-headquartered carrier registered total cargo revenues of HK$13bn during the first six months of 2018, a 24% increase compared with the prior year.Cargo traffic for the period ...
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Agility airfreight's strong performance in Q2
A strong performance in airfreight helped Kuwait-based global logistics group Agility report second-quarter net profit of KD20m ($66m), an increase of 18.7% over the same period in 2017.Agility EBITDA grew 13.6% to KD37.1m, while revenue increased 12.3% to KD384.2m.First-half earnings of net profit of KD38.9 m were up 24%. First-half ...
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E-commerce and freight forwarding boost for DP DHL's second quarter
Deutsche Post DHL Group's (DP DHLG) revenue rose by 1.4% to more than €15bn in the second quarter of 2018, driven primarily by “significant gains” at DHL Express and Global Forwarding, Freight.The quarter's operating profit (EBIT) at the German logistics giant amounted to €747m, down by 11.2% against the record ...