Business – Page 85
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News
Freighter lessor ATSG's revenues on the rise
US freighter lessor Air Transport Services Group (ATSG) reported 2018 second quarter revenues of $203.6m, an increase of 6% after excluding $61.1m in reimbursed expenses from 2Q 2017.Adjusted EBITDA from continuing operations was $69.7m, up 9%.Joe Hete, president and chief executive of ATSG, said: "Growth in our aircraft leasing and ...
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NewsIAG cargo revenues climb in Q2 despite traffic decline
IAG Cargo saw revenues climb during the second quarter despite a decline in traffic during the period.The airline group saw total second-quarter cargo revenues increase by 3.7% year on year to reach €281m, while traffic declined by 0.3% to 1.4bn cargo tonne kms (CTK).Cargo volumes were flat at 173,000 tonnes ...
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News
Kuehne+Nagel makes another perishables acquisition
Kuehne + Nagel (K+N) has completed the acquisition of the perishables business of Panatlantic Logistics, Ecuador.K+N said the acquisition will enable it to strengthen its position in the export market to the US, Europe and the Asia-Pacific region.Yngve Ruud, member of the Managing Board of K+N International, responsible for airfreight, ...
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News
Atlas Air reports strong second quarter despite loss
Atlas Air Worldwide Holdings has announced "strong second-quarter" 2018 business growth on the back of increased demand despite recording a loss for the period.The aircraft lessor saw revenues for the period increase 15.8% year on year to $666.1m, while it registered a loss from continuing operations before taxes of $21.1m ...
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E-commerce fuels XPO's second quarter
E-commerce helped XPO Logistics record a 16% year-on-year revenue rise to $4.36bn in 2018's second quarter, as the acquisitive US giant also gained $2.1bn of new business in the first six months of this year.Adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA) increased to $436.7m for the second ...
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NewsAir France KLM sees cargo revenues rise despite traffic decline
Air France KLM saw cargo revenues increase in the second quarter, despite a fall in traffic, while the overall airline group’s performance was affected by strike action.The latest financial results from the Franco-Dutch airline group show that cargo revenues increased by 7.3% year on year to €543m during the second ...
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News
DSV air cargo volumes up 12% in Q2
Denmark-based logistics operator DSV recorded an 11% increase in airfreight volumes to 336,300 tonnes during the first half of 2018, driven mainly by a "strong performance" in EMEA and Americas exports.The rise in DSV's half year air cargo throughput outpaced an overall market benchmark of 5% growth in the same ...
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NewsLufthansa Cargo sees revenues and profits rise in Q2
Higher pricing in the airfreight market helped propel profits at Lufthansa’s cargo business during the second quarter of the year.The German airline’s logistics division, which includes Lufthansa Cargo as well as Jettainer, time:matters and its equity investment in AeroLogic, saw total second-quarter revenues increase by 12.1% year on year to ...
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News
CEVA continues to improve despite drop in airfreight volumes
CEVA Logistics saw its airfreight volumes decline during the second quarter as a result of the end of old customer contracts and ahead of the start of new ones.The latest financial results from CEVA show that total air cargo volumes declined by 1.3% year on year to 120,200 tonnes despite ...
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News
Singapore Airlines sees cargo revenues rise in Q1 despite traffic decline
Singapore Airlines saw its cargo revenues jump during its financial first quarter, despite a drop in demand.Between April and June, the Asian airline saw cargo revenues increase by S$30m, or 6%, on the back of a yield increase of 9%, a reflection of the overall market trend.The improvement in yields ...
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Revenues and income increase at UPS in Q2
UPS saw revenues and net income increase during the second quarter of the year, while operating profit for the period came under pressure as a result of pension expenses.The express giant reported a 9.6% increase in total revenues for the second quarter to $17.4bn, operating profits declined by 13% to ...
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News
Panalpina swoops on another perishables forwarder while profits rise in Q2
Panalpina has again expanded its perishables network with the acquisition of a majority stake in South African firm Skyservices, while it has also announced its results for the second quarter.The Switzerland-headquartered forwarder said the acquisition of Skyservices gives it a presence in Johannesburg and Cape Town. Details of the deal ...
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News
ECS Group adds to Americas network with BCS Air acquisition in Brazil
ECS Group has acquired BCS Air, the Brazil-based general sales and services agent (GSSA), a partnership that will provide airlines in Latin America and the US with the full range of cargo outsourcing solutions.BCS Air is an established GSSA with more than 20 years of experience in the air cargo ...
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News
K+N sees airfreight volumes grow ahead of the market in Q2
Kuehne+Nagel (K+N) recorded an above market increase in airfreight volumes in the second quarter of the year, while overall group profits were also on the rise.The Switzerland-based freight forwarder saw its airfreight volumes increase by 15.7% year on year during the April-June period to 441,000 tonnes compared with overall market ...
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News
Swissport integrating Aerocare in Australia and New Zealand
Swissport International is pushing ahead with the integration of the Aerocare organisation in Australia and New Zealand.Following the Aerocare acquisition in March 2018, the registered company name was changed to Swissport Australia as confirmed by the Australian Securities and Investments Commission.Eric Born, group president and chief executive of Swissport International, ...
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News
Cinven set for Envirotainer acquisition
Specialist pharma-chain ULD provider Envirotainer is set to have a new owner after private equity firm Cinven acquired all the shares of majority stakeholder AAC Capital for an undisclosed sum.Michael Berg, chief executive of Envirotainer, said: “Cinven is one of Europe’s leading private equity firms, with substantial activities in healthcare ...
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Amerijet switching to indexed fuel surcharge
Miami-based Amerijet International Airlines is changing its fuel surcharge calculation method to an indexed model, “in order to more accurately follow the fuel markets”.The all-cargo carrier’s vice president of sales and marketing, Derry Huff, said: “This will provide both Amerijet and our customers a fair and transparent methodology which will ...
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CMA CGM obtains regulatory green light for 24.9% stake in CEVA
CMA-CGM, the world's third largest container shipping group, has obtained all regulatory approvals to complete its 24.99% shareholder investment in supply chain specialist CEVA Logistics.CMA CGM made a strategic investment in convertible securities issued by CEVA in a concurrent private placement at the time of CEVA's initial public offering (IPO) ...
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CEVA set to refinance its debts with a $400m private offering
CEVA Logistics is set to go to the markets with a proposed $400m private offering to refinance its existing debt facilities and may seek a further $35Om "at a later stage".The Switzerland-based supply chain company also plans to enter into a new $600m Senior Revolving Credit and Ancillary Facility (RCF) ...
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NewsAirbus expects freighter fleet to increase by 65% over the next 20 years
Airbus expects the world’s freighter fleet to grow by more than 50% over the next 20 years, fuelled by demand in North America and Asia Pacific (see charts below).The aircraft manufacturer today released its biennial market forecast, with its figures showing that the number of freighter aircraft will grow from ...