Business – Page 97
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NewsIAG Cargo traffic up on shipping disruption but revenues slide
IAG Cargo saw revenues decline in the first quarter of the year due to challenging market conditions but it registered an improvement in traffic partly driven by container shipping disruption.The cargo arm of IAG, which owns British Airways, Iberia and Aer Lingus, recorded a 2.3% year-on-year decrease in first-quarter cargo ...
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Atlas looks forward to a strong peak after a "flying start" to 2017
Atlas Air Worldwide Holdings got “off to an exciting start in 2017” as it announced 2017 improved income from continuing operations, but it registered a net loss.During the first quarter income from continuing operations, net of taxes, total $8.3m compared with $7.7m in the year-ago quarter, operating revenues increased by ...
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NewsApril freight growth tails off but IATA remains upbeat
Global air freight tonne kilometres (FTKs) rose 8.5% in April 2017 compared to last year, said IATA in its latest figures.While this was down from March’s 13.4% year-on-year growth, it is well above the average annual growth rate of 3.5% over the past five years.Meanwhile, growth in freight capacity, measured ...
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Jan de Rijk Logistics reports improved results in 2016
European trucker Jan de Rijk Logistics recorded a near 10% rise in its 2016 operating result and remains “modestly optimistic” for 2017 despite challenges from labour costs, capacity shortages and regulatory changes.The road feeder services and logistics specialist booked a total combined turnover of €208m in 2016, and an operating ...
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Qatar Airways calls on ICAO to lift "illegal" airspace ban
Qatar Airways Group chief executive Akbar Al Baker has called on the International Civil Aviation Organization (ICAO) to lift what it describes as the illegal airspace ban it faces in Saudi Arabia, the United Arab Emirates, Bahrain and Egypt.In a statement issued earlier today, the airline said 90% of its ...
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E-AWB usage finally breaches 50% mark
Electronic Air Waybill (e-AWB) penetration finally breached the 50% mark in April as more than 730,000 of the digital documents were processed.The latest IATA figures show that April’s e-AWB penetration level on feasible trade lanes edged up by 1.3 percentage points compared with March to reach 50.7%, exceeding the 50% ...
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Goh Choon Phong new IATA chairman
Singapore Airlines chief executive Goh Choon Phong has become the 76th chairman of the IATA board of governors, effective June 6, succeeding International Airlines Group chief executive Willie Walsh in the role.Goh said: “While the industry’s global profitability may be strengthening, there is more work to be done as it ...
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Kalitta Air takes delivery of first GECAS-leased B747-400F
US freighter operator Kalitta Air has taken delivery of the first of two leased 747-400F factory freighters from GE Capital Aviation Services (GECAS), an Ireland-based aviation leasing and financing company.GECAS said that the aircraft delivery marked “a new milestone in the decade-long relationship of the two companies”.While GECAS has previously ...
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Atlas looks to raise funds through note sale
Atlas Air Worldwide Holdings is looking to raise $250m through the sale of convertible senior notes to repay borrowings and support future growth.In a stock exchange announcement, the company said the bond sale would see it offer senior notes due on June 1 2024 in an underwritten public offering.The company ...
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Industry-wide data platform an inevitability
The air cargo industry should develop a sector-wide data system if it is to meet shipper to demand for end-to-end supply chain visibility.Speakers at the innovation in air cargo session at Air Cargo Europe agreed that creating supply chain efficiencies through digital solutions would be a key demand from shippers ...
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Cargojet sees revenues improve on Air Canada deal
Freighter airline Cargojet saw revenues increase during the first quarter of the year but income was down.The Canadian airline saw first-quarter revenues improve by 13.3% year on year to C$87.1m, but earnings before taxes for the period declined by 35.6% on a year earlier to C$3.8m and net earnings dropped ...
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IATA's STB Cargo to push on industry transformation
IATA’s recently created Simplifying The Business (STB) Cargo project will aim to push industry transformation in the areas of visibility, processes and booking.Speaking at an Air Cargo Europe conference session, Celine Hourcade, head of cargo transformation at IATA, said STB Cargo had been developed out of the flagship IATA STB ...
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NewsAF KLM Cargo sees decline in Q1 revenues
Air France KLM saw revenues decline in the first quarter of the year despite an improvement in traffic.The Franco-Dutch airline saw first quarter revenues decline by 4.7% year on year to €504m, despite traffic for the period increasing by 0.5% to 2bn revenue tonne km.Cargo capacity at the airline group ...
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ATSG sees Q1 revenues improve on Pemco deal and Amazon ramp-up
ATSG saw revenues, earnings from continuing operations before taxes and net earnings improve during the first quarter of the year thanks to its acquisition of Pemco and the roll-out of its Amazon business.The aircraft lessor reported revenues for the period up by 34.1% year on year to $237.9m, earnings from ...
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NewsAir cargo demand growth reaches six year high
Air cargo traffic grew at its fastest rate since late 2010 in March as the industry continues to benefit from an uptick in world trade and export orders.The latest figures from airline body IATA show that in freight tonne km terms traffic increased by 14% year on year in March, ...
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Ceva sees revenues and volumes improve in Q1
Ceva recorded a loss in the first quarter of the year despite an improvement in revenues and airfreight volumes.The freight forwarder saw first-quarter revenues increase by 1.9% year on year to $1.6n, operating income was up to $8m from $4m a year earlier but it registered a net loss of ...
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NewsAmerican sees cargo revenues and traffic improve in Q1
American Airlines saw its cargo traffic and revenues increase during the first quarter of the year, but this was not enough to stop yields declining.The US airline, which recently won the Cargo Airline of the Year award, registered a 13.8% year-on-year improvement in first-quarter traffic to 619m cargo ton miles, ...
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Alitalia to enter into administration
Alitalia will make a formal request to enter into bankruptcy after employees last week rejected a rescue plan.The Italian flag carrier’s board of directors, which convened after a shareholder meeting, decided to proceed with administration in light of the “serious economic and financial situation of the company”, the shareholders’ unavailability ...
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UPS reports revenues growth but operating profits face headwinds
UPS saw revenues increase by 6.2% during the first quarter of the year but fuel costs and currency effects put pressure on operating profits.The US express and logistics giant saw first-quarter revenues increase to $15.3bn from $14.4bn last year, while operating profits declined by 2.4% on a year earlier to ...
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NewsLufthansa's cargo segment leads the way as it gets back in the black
Lufthansa’s cargo and logistics business returned to the black at an operating profit level in the first quarter as it led the company to its best performance for the period since 2008.The airline group’s logistics division, which includes Cargo, time:matters and other cargo related shareholdings, saw revenues increase by 18.5% ...