All Finance articles – Page 11

  • News

    Jota Aviation appoints liquidators as Covid and Brexit take their toll

    2022-05-30T09:56:05Z

    UK-based passenger and cargo airline Jota Aviation has appointed liquidators after the airline was hit be the impact of Brexit and Covid.On May 19 it was announced that the company, which at its height in 2018 had offered four BAe 146-300 QT freighters out of Southend, had appointed David Pike ...

  • ralp-fund-raise_05-22.png Photo Real Term
    News

    Realterm raises $150m for airport logistics fund

    2022-05-09T08:20:27Z

    Photo: RealtermUS independent global investment manager Realterm has announced the successful closing of $150m in capital commitments for its open-ended fund, Realterm Airport Logistics Properties (RALP).RALP has now raised approximately $900m in equity commitments since its formation in 2015 with all original investors still in the fund.RALP serves as the ...

  • News

    ATSG revenues up in Q1 2021 fuelled by e-commerce demand

    2022-05-06T10:27:22Z

    US lessor Air Transport Services Group (ATSG) reported revenues of $486m for the first quarter of 2022, up 29% compared with the first quarter of 2021.ATSG said adjusted EBITDA was $158m, up 49% from the first quarter of 2021. Full year 2021 revenues were $1.73bn, up 10% year on year.The ...

  • News

    IAG Cargo revenues up 23% year on year

    2022-05-06T09:19:43Z

    IAG Cargo has reported revenues of €432m for the first quarter of 2022; an increase of 23.4% on the same time in 2021.This positive first quarter for the cargo division of IAG (International Airlines Group) for the period from January 1 to March 31 2022 follows a record year in ...

  • News

    Atlas Air revenues improve despite volume decline

    2022-05-05T15:50:33Z

    Atlas Air Worldwide reported improvements in revenues during the first quarter of the year despite a decline in volumes.The freighter lessor and operator saw first-quarter revenues increase by 20% on last year to $1bn, adjusted earnings before interest, tax, depreciation, amortisation (ebitda) increased 11.9% to $202,814 but net income dropped ...

  • News

    Pharma and express bolsters Air France-KLM Q1 cargo revenues

    2022-05-05T09:03:14Z

    Pharma and express deliveries and higher market prices have helped Air France-KLM Group’s total cargo revenues in the first quarter of 2022 hit €910m, an increase of 8.5% since the first quarter of 2021.This increase in revenues is fully driven by a higher yield thanks to the focus on Pharmaceutical ...

  • News

    Avolon reports Q1 2022 net loss of $182m

    2022-05-04T11:48:35Z

    International aircraft leasing company Avolon has reported an impairment of $304m and a net loss of $182m for the first quarter of 2022 as a result of the Ukraine-Russia war.As of March 31, Avolon had 10 owned aircraft located in Russia representing less than 1% of Avolon’s portfolio value net ...

  • News

    DHL airfreight volumes edge up but revenues fly

    2022-05-03T09:56:46Z

    DHL Global Forwarding saw its airfreight revenues jump in the first quarter of the year despite volumes increasing by a much lower amount.The forwarder's airfreight business saw revenues increase by 55.% year on year to €2.9bn. Gross profits improved by 10% to €488m but volumes were up by just 3% ...

  • News

    Cargojet revenues jump in Q1 as it expands B777 conversion order

    2022-05-03T09:01:26Z

    Canadian freighter operator Cargojet registered a jump in revenues in the first quarter and has expanded the number of B777 conversions it has on order (see below).The company reported a 45.7% increase in first-quarter revenues to $233.6m with strong growth in the all-in charter segment.The company said the all-in Charter ...

  • Cargolux 747-8F.png Photo Cargolux
    News

    Cargolux racks up over a billion in 2021 profits

    2022-04-27T13:58:03Z

    Cargolux Boeing 747-8 freighter. Photo: CargoluxCargo airline Cargolux’s 2021 results show profit after tax of $1.3bn, an increase of 68% over 2020.The Luxembourg-based airline saw an increase in tonnage and higher yields, recording revenues of $4.4bn, an increase of 40% over 2020.Earnings before interest and tax (EBIT) were $1.72bn, an ...

  • News

    DSV gross profit grows 61% in Q1 2022 bolstered by air and sea freight

    2022-04-27T09:51:00Z

    Freight forwarder DSV reported gross profit grew 61% in the first quarter of 2022 with the Air & Sea division achieving an EBIT growth of 109%.The Air & Sea division’s revenue amounted to DKr45,887m for the first three months of 2022, compared to DKr22,924m for the same period last year.For ...

  • News

    Profits continue to soar at Kuehne+Nagel in Q1

    2022-04-26T09:26:40Z

    Kuehne+Nagel (K+N) saw its overall and airfreight profits continue to soar in the first quarter of the year as supply chains remained under pressure and demand continue to improve.The forwarder reported an increase in airfreight revenues of 91% year on year to SFr3.1bn on the back of a 32.6% increase ...

  • News

    Cargo revenues continue to surge at American in Q1

    2022-04-22T17:20:42Z

    American Airlines saw its cargo revenues increase again in the first quarter of the year after a record performance in 2021.The Dallas Fort Worth-hubbed carrier reported cargo revenues of $364m in the first quarter, an increase of 15.4% compared with a year earlier on the back of improved yields.The increase ...

  • News

    Kuehne ups his stake in Lufthansa

    2022-04-12T10:00:34Z

    Kuehne+Nagel majority owner Klaus-Michael Kuehne has doubled his stake in German airline Lufthansa to 10%.In a stock exchange note, the airline revealed that German national Kuehne's KA Logistik Beteiligungen made the investment on April 8.He is now the second largest shareholder in the airline behind the German state, which owns ...

  • Ilustration of Airport City development at Billund Airport
    News

    Billund Airport seeks to double airfreight by 2040

    2022-04-11T15:58:45Z

    Red and blue buildings show possible developments. Photo: Billund AirportBillund Airport in Denmark and Danish pension company PensionDanmark are collaborating to more than double airfreight at the airport from 77,000 tonnes of goods per year to 160,000 tonnes per year in 2040.The long-term strategic collaboration to create “Airport City” aims ...

  • DACHSER_Road-AirSea-k2048x1152_rdax_65.jpg Photo Dachser
    News

    Dachser revenues exceed €7bn for the first time

    2022-04-05T14:48:09Z

    Photo: DachserAirfreight charters helped German logistics company Dachser record a 78.3% jump in revenues at its Air and Sea Logistics unit to just over €2bn in 2021.Total group annual revenues went above €7bn for the first time, a 20% increase over Covid-hit 2020, while the forwarder also warned of continuing ...

  • The ACA_Glenn Hogben CEO
    Insights

    Airfreight customers take hit from Ukraine rates rise

    2022-04-04T09:06:31Z

    Airfreight customers will pay the price as the Russia-Ukraine war continues and impacts rates.Speaking exclusively to Air Cargo News, The Air Charter Association chief executive officer Glenn Hogben says airlines have been forced to change their Asia-Europe routes to avoid Russian and Ukraine airspace since the later country was invaded, ...

  • European Cargo aircraft Photo Bournemouth Airport
    News

    European Cargo announces growth accelerator investment

    2022-03-28T15:25:46Z

    Photo: European CargoEuropean Cargo Limited has closed a minority equity investment that will be partly used for converting the company’s A340 fleet to full cargo freighters.The minority equity investment has been made by Priority 1 Logistics Holdings LLC, a newly-formed subsidiary of US-based, Priority 1 Holdings LLC.Proceeds of the investment ...

  • News

    Air cargo software platform Aircon launches

    2022-03-21T10:00:49Z

    New air cargo software platform Aircon has closed a $1m dollar pre-seed round by Schematic Ventures.Texas, US-based Aircon facilitates air cargo rates and consolidation of cargo for freight forwarders and supply chain solutions providers. Development of the platform began in February 2021 and it will be launching live with forwarders ...

  • News

    Air cargo alliance aids price optimisation

    2022-03-17T16:12:10Z

    TAC Index has formed an industry first alliance with a provider of SaaS solutions that optimise shopping and selling experiences to give the latter’s customers greater, more accurate and timely visibility into market air cargo rates.The alliance aims to help PROS customers optimise prices and maintain profit margins as the ...