Business – Page 94
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News
Analyst sees upsurge in forwarding mergers
Increasingly disparate financial performance among leading players will lead to more mergers and acquisitions in freight forwarding, says two industry experts.David Kerstens and Hamish Dalgarno, respectively equity analyst and equity associate at investment banker Jefferies International said in a report that there is a growing performance divide in the freight ...
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Ceva maintains momentum in tough airfreight market
Ceva said its air freight volumes jumped 15.6% in the second quarter of the year, notably on the Trans-Pacific and Intra-Asia trade lanes.The Netherland-headquartered forwarding and logistics firm said that although the market situation remains difficult, with rising carrier rates, yields were maintained at relatively high levels.Ceva added that productivity ...
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XPO gets its shopping list out again
XPO Logistics could soon be going on another buying spree, said chief executive Bradley Jacobs as he revealed a jump on net income to $75m in the first quarter of 2017, compared with $50.4m in the same period in 2016.He told Reuters that the US-based logistics giant is pursuing “deals ...
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Qatar Airways dumps plan for American Airline stake
Qatar Airways has dropped a plan to acquire up to a 10% stake in American Airlines, according to press reports. In a statement, the Middle Eastern carrier said that “taking into account the latest public disclosure of American Airlines”, the investment “no longer meets our objectives”.The US carrier had vociferously ...
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Frankfurt puts in a strong cargo performance
Frankfurt’s cargo throughput (airfreight + airmail) climbed by 5.3% year-on-year, to nearly 1.1 million tonnes In the first six months of the 2017 business year, said airport operator Fraport in its half yearly report, published on 3 August.Europe's busiest cargo hub said that cargo traffic continued its growth trend from ...
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Muted airfreight growth for DSV as it digests UTi
Danish-headquartered forwarder and transport company DSV said its airfreight division increased volume by 10% in the first half of 2017, helped by its acquisition of UTi at the start of last year.This put it slightly ahead of the market, which was up 8%, it said in its interim financial report, ...
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Atlas announces B747F leases and improving Q2 financials
Atlas Air Worldwide has reported improvements in second-quarter revenues and profits, while also announcing the placement of three freighters with Hong Kong Air Cargo Carrier.Shortly before announcing its second-quarter results, the Purchase-headquartered aircraft lessor announced that it had placed three Boeing 747-400 freighters with Hong Kong Air Cargo on an ...
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NewsOptimistic IATA sees steady air cargo growth
Global freight tonne kilometres (FTKs) put in their strongest first-half performance for seven years, said IATA in its report for the first six months of 2017, published on 2 August.Traffic grew by 10.4% in the first half of 2017 compared to the first half of 2016, the best showing since ...
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Lufthansa Cargo stays in the black as revenues and volumes soar
Lufthansa’s cargo and logistics division recorded improved revenues and operating profits in the second quarter of the year, helped by strong demand growth in its Asia Pacific business.The German airline’s logistics division, which includes Lufthansa Cargo, Jettainer, time:matters and an equity investment in AeroLogic, saw second-quarter revenues increase by 18.8% ...
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Ahead of market growth for DB Schenker airfreight
German-owned forwarder DB Schenker’s airfreight business grew by 11.4% to reach 613,000 tonnes in the first half of 2017, said Deutsche Bahn AG’s chief executive Dr. Richard Lutz at a press conference to announce the holding company’s interim results.The overall airfreight market was estimated to have grown by around 9% ...
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AF KLM registers Q2 cargo traffic improvement but revenues down
Air France KLM saw cargo traffic and load factors improve during the first half of the year, although it did register a small decline in revenues.The Franco Dutch airline, which last week announced it would invest in Virgin Atlantic, saw second-quarter cargo revenues decline to €506m from €507m last year.Meanwhile, ...
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IATA survey of airline and cargo bosses saw Q2 profits rise
An IATA survey found that more than three-quarters of airline chief financial officers and heads of cargo indicated that profitability increased in the second quarter of 2017 compared to the same period of 2016.However, IATA added that the first quarter may have marked the bottom of the industry profitability cycle.The ...
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SIA Cargo flies back into profit
SIA Cargo reported a financial year first quarter operating profit of $6m, reversing its loss of $34m in the same April-June last year.Revenue received a $57m boost from freight growth of 6.9%, further lifted by a 4.8% improvement in cargo yield, said the Singapore-based mega-Asian carrier.SIA Cargo operates a fleet ...
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Second quarter cargo surge for IAG
British Airways, Aer Lingus and Iberia parent group IAG had a strong cargo second quarter as airfreight revenues at the European group soared by 7.9% to €260m against the same quarter of 2016, or an increase of 7.6% on 2016 at constant exchange.IAG's half year 2017 results saw cargo revenues ...
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Etihad Airways registers $1.8bn loss in 2016 as cargo comes under pressure
Etihad Airways saw its cargo revenues drop by 10% last year despite an increase volumes, while the overall company slipped to a $1.8bn loss.The Abu Dhabi-hubbed airline recorded cargo revenues of $900m in 2016 compared with a $1bn in 2015. This came despite a 0.8% increase in cargo volumes to ...
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UPS sees profits and revenues improve in Q2
Express giant UPS saw revenues and net income increase during the second quarter of the year as e-commerce gains helped push performance.The Atlanta-headquartered firm saw second-quarter revenues increase by 7.7% year on year to reach $15.7bn, while net income grew by 9.1% to hit $1.4bn.Revenue growth was led by its ...
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A new book on ULD handling and safety
ULD CARE, a not-for-profit Canadian corporation, has published a new book, ULD Explained, aimed at promoting the correct handling of unit load device (ULD) containers.The book, available in eBook and hard copy formats, will promote greater awareness of the flight safety contribution of ULDs, the need for correct handling of ...
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WCS17: How air cargo can fight back to profitability
Air cargo can improve profitability levels by encouraging adherence to contracts, offering transparent pricing, developing joint global solutions, moving to a modern commerce business model and creating carrier partnerships.Speakers at an IATA World Cargo Symposium session on air cargo profitability largely agreed that capacity was set to continue to grow ...
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How smart ULDs and better data can help the cargo terminal of the future
Cargo warehouses of the future will have smart devices, smart people and technology-driven ULDs transformed from “dumb boxes” to interactive equipment.Those were some of the takeaways from the “cargo facility of the future” panel discussion at the World Cargo Symposium (WCS) in Abu Dhabi.The air cargo warehouse of the past ...
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Freight forwarder Panalpina expects continuing airfreight margin pressure
Freight forwarder Panalpina will concentrate on controlling costs after its airfreight business faced continued margin pressure on higher airfreight demand.The Switzerland-headquartered logistics giant saw second-quarter airfreight revenues increase by 10% year on year to Sfr700m on the back of a 6.6% improvement in tons carried to 240,000 and rising freight ...