Business – Page 9
-
NewsUPS revenue drops 5% in Q1
Express services giant UPS recorded consolidated revenue of $21.7bn in the first three months of this year, a 5.3% fall on its performance in the first quarter of 2023.Consolidated operating profit was down further, by 36.5% year on year to $1.6bn (and down 31.5% on an adjusted basis).The company's Supply ...
-
News
Finnair’s cargo revenue and yields fall in first quarter of this year
Finland’s flag-carrier Finnair has blamed lower cargo revenue and yields as among the reasons for declining overall revenue earned in the first quarter of this year.The airline made €46.3m in revenue in the first quarter of 2024 from cargo, down from €53.4m in the same period of 2023.Finnair’s revenue cargo ...
-
NewsK+N sees airfreight turnover and profits fall in first quarter
Both airfreight-related turnover and profit fell year on year in the first quarter of 2024 for Kuehne+Nagel (K+N), contributing to some disappointing results across the business.Across K+N, turnover was down by 18% over the first quarter of 2023, gross profit by 13%, and the figures for K+N’s Air Logistics segment ...
-
News
CMA CGM in talks with Balguerie over the sale of part of Bolloré Logistics
The CMA CGM Group has initiated the sale of 100% of Bolloré Logistics' activities in Guadeloupe, Martinique, Saint-Martin, French Guiana, and Polynesia, with Balguerie Group making an offer.This follows the completion of the Group's takeover of Bolloré Logistics from the Bolloré Group in February.The sale is in line with the ...
-
NewsBrussels cargo community teams up for first TIACA BlueSky workshop
Source: TIACATIACA and Air Cargo Belgium held the official launch workshop for the first TIACA BlueSky community.The Brussels community, which is sponsored by Brussels Airport, will work together to improve their environmental performance in line with TIACA's BlueSky programme.The first wave of six pioneering companies joined together for a kickoff ...
-
NewsDachser takes majority stake in Dachser & Fercam Italia
Photo: DachserDachser has acquired 80% of the shares in the joint venture Dachser & Fercam Italia, effective March 28.This completes the German logistics company's acquisition of the majority of the groupage and contract logistics divisions of the Italian logistics company Fercam, first announced in August last year.Following a competition law ...
-
NewsTurkish Cargo sees volumes and revenues decline in 2023
Turkish Cargo saw revenues and volumes decline last year on the back of lower airfreight rates and a weaker air cargo market.The Istanbul-hubbed carrier saw cargo revenues decline by 30% year on year in 2023 to $2.6bn, while cargo volumes fell by 1.2% to 1.7m tons.The declines reflect overall market ...
-
NewsCNS Partnership Conference to focus on sustainable growth
Source: IATAThe Cargo Network Services Corporation (CNS) Partnership Conference will be held from April 14-16 2024 under the theme: “Resilience Through Agility: Partnering for a Changing World”.The conference at the Gaylord Resort & Convention Center in Dallas Fort Worth, Texas will bring together around 700 stakeholders and representatives from across ...
-
NewsIATA reports an 11.9% jump in air cargo volumes for February
February was the third consecutive month of double-digit year-on-year demand growth for air cargo, according to data released by IATA.Total air cargo demand for the month rose by 11.9% compared to February 2023 levels. The rise, measured in cargo tonne-kilometers (CTKs), comes as the market stabilises amid improved economic performance ...
-
News
Scan Global Logistics plans for further acquisitions
Fast-growing Scan Global Logistics said it is planning to make more acquisitions with a focus on growing in key markets.Following the announcement of its full-year results, SGL said that its acquisition strategy had so far been based on accelerating its geographical presence.This strategy will continue in some larger markets but ...
-
News
ANA again pushes back takeover of freighter airline NCA
All Nippon Airways (ANA) has for a third time delayed its planned takeover of freighter carrier Nippon Cargo Airlines (NCA) as regulators continue to examine the deal.ANA had originally been hoping to complete the deal on October 1 last year, but this was later pushed back until February 1, then ...
-
News
MSC moves forward with Clasquin deal
Swiss shipping firm MSC has moved forward with its deal to acquire international air and sea freight forwarder Clasquin.MSC subsidiary SAS Shipping Agencies Services Sàrl has entered into a put option agreement for the acquisition of 42.06% of the share capital of Lyon, France-based Clasquin, said a press release issued ...
-
News
FedEx profits improve as cost cutting takes effect
FedEx saw its profits improve in the third quarter of its fiscal year despite revenues coming under pressure due to weak market conditions.The express giant saw its fiscal year third-quarter revenues decline by 2% year to $21.7bn, but operating income improved by 19% on last year to $1.2bn and net ...
-
News
More than 20 parties interested in buying DB Schenker
Deutsche Bahn (DB) yesterday provided an update on its plan to sell DB Schenker during the announcement of its full-year results, which showed the forwarder delivered a "reliable" profit performance.Levin Holle, member of the board responsible for finance and DB Schenker, said that more than 20 parties had registered an ...
-
News
WFS set to swoop on Swedish cargo businesses
SATS confirmed its intention to acquire Sweden’s Terminal & Transporttjänst i Sigtuna (TT) and APH Logistics through its wholly-owned subsidiary, WFS Sweden.Completion of the transaction remains conditional upon regulatory filings and the required subsequent approvals, however.TT is a cargo warehouse and trucking operator based at Stockholm Arlanda Airport, Sweden’s busiest ...
-
NewsCargo iQ appoints new executive director
Marie Seco-Köppen. Source: Cargo iQMarie Seco-Köppen is to take over from Lothar Moehle as the new executive director of Cargo iQ, the non-profit group that seeks to define the processes behind the transport of air cargo in order to measure success and continuously improve the value of airfreight for customers.Seco-Köppen ...
-
News
IATA reports on latest progress made on lowering carbon emissions
The International Air Transport Association (IATA) has released the latest edition of its Fly Net Zero reports, which covers the latest industry developments for January and February as the industry moves towards a target of zero carbon emissions by 2050.Some of the latest developments relate to the cargo side of ...
-
NewsAgeing freighter fleet set to tighten global market, says Atlas Air chief
Michael Steen The global supply of full-freighter aircraft is tightening, says Atlas Air Worldwide chief executive, Michael Steen. In an interview for Bloomberg TV’s Daybreak programme on 13 March, he pointed out that of the 650-strong global all-freighter fleet, around 125 are coming up for retirement. “That ...
-
NewsCathay cargo tonnage surge outpaces revenue as yields droop
Source: Cathay CargoCathay Pacific Airways carried 1.38 million tonnes of cargo in 2023, up almost 20% on the previous year’s 1.15m tonnes, said the Hong Kong-based carrier when it announced its annual results on 14 March.Cargo revenue tonne-kilometres surged by over 40%, from 5,774m to 8,099m, but load factors and ...
-
NewsSeven firms sign up to IATA digital charter
Source: IATA IATA launched a Digitalization Leadership Charter at the World Cargo Symposium (WCS) in Hong Kong on 14 March with Cathay Cargo, CHAMP Cargosystems, Global Logistics System, IAG Cargo, IBS Software, LATAM Cargo, and Lufthansa Cargo as inaugural signatories. The charter has been developed in consultation ...