Business – Page 91
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News
Singapore and Guyana strengthen ties with open skies deal
The Singapore Airshow 2018 was the setting for the conclusion of an Open Skis Agreement between Singapore and Guyana on February 4.The Air Services Agreement allows the airlines of Singapore and Guyana to operate any number of services between the two countries and on to any third country. There will ...
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TIACA reveals a new vision
TIACA has revealed a new vision for today’s business environment: “a forward-looking approach to representing, supporting, and informing every element of an efficient, modern, and unified air cargo industry”.That approach is set to include more training, consultancy and advocacy, alongside collaboration with other organisations and government bodies around the world.For ...
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Airfreight demand up 9% in 2017, strongest growth since 2010 says IATA
Global airfreight markets in 2017 saw demand grow by 9.0%, more than double the 3.6% annual growth recorded in 2016, and IATA expects a "very healthy 4.5% expansion" in 2018, measured in freight tonne kilometers (FTKs).IATA’s full year 2017 statistics show that airfreight capacity, measured in available freight tonne kilometers ...
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Bolloré Logistics takes majority stake in Denmark's Global Solutions
Bolloré Logistics has taken a majority stake in the Danish freight forwarder Global Solutions as part of the French forwarder’s “strategic development through external growth”.A Bolloré spokesperson said: “This latest transaction will expand further Bolloré Logistics’ network in Europe and the company’s global end-to-end offering in the Scandinavian markets.“Already established ...
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Aviation welcomes African open skies agreement
The African Union (AU) has launched the Single African Air Transport Market (SAATM) as it hopes to capitalise on the benefits brought by air transport.It is hoped that a single aviation market, launched yesterday at the AU Summit, will help promote trade, cross-border investments and create an additional 300,000 direct ...
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FedEx trumpets $1.5bn investment in Indianapolis hub
FedEx is to investing $1.5bn to "significantly expand" the FedEx Express Indianapolis hub over the next seven years as part of a three-pronged pay, pension fund and infrastructure investment package outlined today.The US parcel and logistics giant's Memphis SuperHub will also be modernised and enlarged in a major programme, the ...
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NewsCargo the star performer for American Airlines
Cargo was the star performer for American Airlines in 2017 as revenues increased at a double-digit percentage pace on the pack of demand and yield improvements.The Dallas-headquartered airline registered a 14.3% year on year increase in cargo revenues to $800m on the back of a 15% jump in traffic to ...
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Swissport to seek IPO and listing on SIX Swiss Exchange
Swissport Group is to seek an Initial Public Offering (IPO) and listing of its shares on the SIX Swiss Exchange.Swissport's sole shareholder, China’s HNA Group, is expected to retain a long-term strategic shareholding following the IPO.The Switzerland-based global leader in ground handling and cargo services will continue to function as ...
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Air Partner sees strong second half results for freight in broker division
UK-based aviation services group Air Partner has reported a "good second half" financial year for its broking division, including "strong results in the US and in freight".In a trading statement ahead of the end of its current financial year on January 31, the company said: "Air Partner is pleased to ...
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Rhenus Group swoops on Brazilian forwarder to strengthen regional presence
The Rhenus Group has taken over Brazil-based freight forwarder and customs broker Pirâmide SeaAir in part to help speed up the flow of goods into and out of the country.The German logistics group said that Pirâmide SeaAirhas been operating as a licenced customs clearance broker for more than 20 years ...
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Lufthansa cargo capacity up by 3.3% in 2017
Lufthansa saw total group airlines cargo capacity (available cargo tonne-km) 3.3% higher in 2017 than in the previous year.Group cargo sales (revenue cargo tonne-km) in the January to December period increased by 7.4%, resulting in a load factor 2.7 higher percentage points than in 2016, reaching 69.3% for 2017.A full-year ...
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NewsAir cargo continues to improve in November while optimism for 2018 grows
Air cargo demand growth edged up in November despite a slowdown in October and indicators suggesting the sector has passed a cyclical growth peak.Figures from IATA show that air cargo traffic in freight tonne km (FTK) terms increased by 8.8% year on year in November compared with the 5.8% rise ...
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Experts downplay speculation that Home Depot will bid for XPO Logistics
Delivery expert ParcelHero has warned that a rumoured sale of XPO Logistics to US retailer Home Depot is "highly unlikely" and would harm XPO’s many UK retail and manufacturing clients.According to ParcelHero’s head of consumer research, David Jinks, a takeover bid by US-based DIY retailer Home Depot for XPO, in ...
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CAL Cargo wins online auction for last Jade B747 freighter
Israeli-owned freighter carrier CAL Cargo Airlines has confirmed that it purchased an ex-Jade Boeing 747-400ERF on China’s Taobao online auction platform.Offer Gilboa, owner of CAL-Cargo and Ace Aviation Services, commented: "I am very happy and proud that we have managed to win this bid.“This is a great new development for ...
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Liege Airport to invest more than €50m in cargo in 2018
Liege Airport will invest €30m in four new parking areas for large freighter aircraft next year, bringing 2018's total planned cargo investment to €50m at the busy Belgian hub.The announcement on additional freighter parking space follows November’s decision to provide a further 20,000 sq m of warehouses and handling facilities.“The ...
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HNA Group faces headwinds after buying spree
China's HNA Group, which has invested in several logistics assets, is facing headwinds following a spending spree that has left the company in debt and concerns over its ownership structure.Bloomberg reports that the company has seen three deals in the last three months fail and its short-term debts have reached ...
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Slow progress of e-AWBs down to market growth
The slow growth of electronic air waybill (e-AWB) penetration in 2017 is down to the overall improvement in air cargo demand, according to IATA.Each year the airline association sets a target for e-AWB penetration, which in 2017 was expected to be missed by a wide margin.The target for 2017 was ...
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Lack of airfreight space drives up "sky high" rates
Freight forwarders are continuing to report a lack of cargo space and "sky high rates", while claiming that some shippers are turning to ocean transport to avoid delays.According to the latest Freightos International Freight Index, the rush in demand for airfreight capacity has not abated, and shippers are turning to ...
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UK – China accord to boost flight connectivity
UK transport secretary Chris Grayling has revealed the details of a new deal between the UK and China that allows for a 50% boost in the number of passenger flights between the two nations.It builds on successful discussions held in October 2016 that saw limits on passenger flights between the ...
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Air cargo set for another solid year in 2018
Air cargo is expected to have another "solid" year in 2018, although growth is expected to slow and there are some potential challenges ahead.Speaking at the IATA Cargo Media Day in Geneva, the airline association’s chief economist Brian Pearce said he expected e-commerce and inventory restocking to drive “good growth” ...