All Finance articles – Page 10
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News
Freightos sees strong platform growth in Q2 2022
New business from airlines investing in digitalisation has helped global freight booking and payment platform Freightos achieve strong growth in the second quarter of 2022.Freightos recorded 150,000 platform transactions, resulting in growth of 163% year-over-year in the second quarter.Gross Booking Value (GBV) was $155m – up 137% year over year, ...
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ATSG sees revenues rise but profits fall in Q2
Freighter lessor ATSG saw its revenues rise but profits fall in the second quarter of the year as it faced higher costs, but benefited from more flying.The Wilmington-headquartered company reported a 24% year-on-year increase in second-quarter revenues to $510m, operating income for the period was down 16.6% to $70.5m and ...
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DHL airfreight volumes drop but high rates help it achieve positive results
Deutsche Post DHL Group saw a drop in airfreight volumes in the second quarter of 2022, but managed to achieve positive financial results thanks to high market rates and charter demand.Group airfreight revenue for the second quarter of 2022 was €2.8bn, up 40% on the second quarter of 2021, airfreight ...
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Atlas Air sees profits slide in Q2 as costs rise
Atlas Air Worldwide, which yesterday announced it is being acquired in a $3bn deal, saw volumes and profits take a hit in the second quarter while revenues improved.The company saw revenue grow to $1.2bn in the second quarter of 2022, compared with $990m last year, volumes totaled 83,922 block hours, ...
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Atlas Air Worldwide to be acquired in $3bn takeover
Freighter firm Atlas Air Worldwide has entered into a definitive agreement to be acquired by an investor group in an all-cash transaction with an enterprise valuation of approximately $5.2bn.The takeover is led by funds managed by affiliates of Apollo, affiliates of JF Lehman & Company, and Hill City Capital.Under the ...
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NewsLufthansa Cargo revenues surge despite volume drop
Lufthansa's logistics division saw revenues and operating profits increase again in the second quarter of the year despite a small drop in cargo volume.The division, which includes Lufthansa Cargo, time:matters, Jettainer and the company's share of AeroLogic, saw its second-quarter revenues increase by 45% year on year to €1.3bn, while ...
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NewsAir Canada Cargo to add B777 freighters
Source: Air CanadaAir Canada will add B777 freighters for the first time as it continues to expand its presence in the all-cargo market.The carrier today announced an order for two factory-built B777Fs to enter into service in 2024.The order comes as Air Canada has been investing in converting its B767 ...
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NewsEtihad Cargo sees first-half revenues rise despite volume decline
Etihad Cargo reported a first-half increase in cargo revenues despite a drop in volumes as a result of a ramp-up of passenger operations.The Abu Dhabi-headquartered airline reported cargo revenues of $802m in the first half of 2022, representing an increase of 6% on the same period last year, despite a ...
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NewsAir France KLM sees cargo volumes tumble in Q2
Air France KLM (AF KLM) saw cargo revenue growth flatten and volumes decline in the second quarter as the group switched aircraft away from Asia.The airline group said that second-quarter revenues increased by 2.6% year on year to €918m, while cargo traffic dropped by 17.2% on last year to 1.7bn ...
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NewsIAG Cargo sees revenues fall in Q2
IAG Cargo registered declines in both freight traffic and revenues in the second quarter of the year.The cargo business saw second-quarter cargo revenues decline by 1.9% year on year to €411m, while traffic was down 5% on last year to 949m cargo tonne km.The decline in demand reflects overall market ...
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DB Schenker sees profits take off despite volume declines
DB Schenker saw its revenues and operating profits rapidly increase in the first half of the year despite a decline in volumes.The company, which was the strongest performing division in the Deutsche Bahn (DB) Group, reported a 35.8% year-on-year increase in total sales to €14.2bn in the first half and ...
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DSV second quarter income resilient against weakened demand
DSV has reported positive air results for the second quarter of 2022, aided by ongoing oceanfreight disruption and its acquisition of Agility’s Global Integrated Logistics (GIL), against a softening of demand.In the second quarter of 2022, the forwarder's Air & Sea division reported a 102.7% year-on-year increase in earnings before ...
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Kuehne+Nagel records strong Q2 airfreight results
Kuehne+Nagel’s (K+N) air logistics division has recorded robust results for the second quarter of 2022 despite the recent market slowdown.The air division's second-quarter net turnover was SFr3.2bn, up 37% from the same period of 2021, earnings before interest and tax (ebit) was SFr401m, 65% up year on year and air ...
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Four Russian cargo carriers to receive subsidies
The Volga-Dnepr Group is among four Russian cargo airlines that will receive government support subsidies.Russian state-owned news agency Ria Novosti reports that Russian Federal Air Transport Agency Rosaviatsia has approved subsidies for Volga-Dnepr, Abakan Air, Aviastar-TU and Aviacon Zitotrans.Rosaviatsia said the money is in response to external sanctions and will ...
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NewsASL Aviation grows financial facility as its freighter fleet renewal programme advances
ASL Airlines Ireland B737-800BCF. Photo: ASL Aviation HoldingsASL Aviation Holdings has completed the extension and upsizing of its existing debt facility with Goldman Sachs as it continues with its freighter fleet renewal programme.The agreement builds on the Dublin, Ireland headquartered global aviation services group’s relationship with Goldman Sachs to ...
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Kuehne+Nagel's Klaus-Michael Kuehne increases stake in Lufthansa to 15%
Kuehne+Nagel majority owner Klaus-Michael Kuehne has increased his stake in German airline Lufthansa to 15% to become the airline's largest shareholder.In a shareholder notification on its website, Lufthansa said that Kühne's share in the business had increased from 10% to 15.01% on July 5.It was only in April that Kuehne ...
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Saudia Cargo improves financial planning
Saudia Cargo has partnered with Revenue Technology Services (RTS) to improve its financial planning and efficiency.The partnership entails the implementation of revenue planning solution Foresight, pricing solution Accelerate, and revenue management solution Velocity.Foresight helps airlines to determine the value of cargo in a schedule, set revenue and sales targets and ...
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Manchester-Boston Regional Airport to receive millions in funding for air cargo facility
The US Federal Aviation Administration will award $7.9m to Manchester-Boston Regional Airport (MHT) to help build a new air cargo facility that is expected to support the e-commerce boom.This funding award will support the second phase of the construction of a 31,000 sq m cargo facility apron to better serve ...
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Alaska Air Cargo pledges not to add fuel surcharges
Alaska Air Cargo's managing director Adam Drouhard has pledged that the carrier will not add any fuel surcharges.Other airlines have imposed increases of up 30%, he said.But he acknowledged: “The past few months have been turbulent in some parts of our operation. Our valued customers have weathered last-minute schedule changes ...
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Envirotainer to be sold
Temperature-controlled ULD firm Envirotainer is set to be sold in a deal worth around €2.8bn.The deal will see private equity firm Cinven and co-investor Novo Holdings sell the air cargo business to another private equity firm, EQT, and investment company Mubadala.International law firm Clifford Chance advised Cinven and Novo Holdings ...