All Finance articles – Page 12
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NewsSwissport targets acquisitions with new appointment
Pablo von Siebenthal. Source: SwissportSwissport is targeting an "ambitious" acquisition plan and has appointed Pablo von Siebenthal as global head of mergers and acquisitions (M&A) to head up the project.Von Siebenthal joins from Kuehne+Nagel on April 1 and will assume overall responsibility for the execution of Swissport's new global acquisition ...
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Turkish Cargo revenues and volumes jump in 2021
Turkish Airlines saw its cargo revenues rapidly increase last year on the back of volume improvements and higher prices.The carrier saw its cargo revenues for last year increase by 48% year on year to $4bn on the back of a 26% increase in cargo volumes to 1.9m tons.Higher industry rates ...
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NewsCathay Pacific targets cargo growth as it records 2021 loss
Photo: Cathay PacificCathay Pacific Group faced an attributable loss of HK$5.5bn in 2021 and is looking to increase "cargo capacity as much as practicable”.Cargo revenue in 2021 was HK$32.3bn, an increase of 31.8% compared to 2020. Cargo revenue tonne kilometres (RFTK) decreased by 1.1% to 8.2bn RFTK.The decline in volumes ...
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NewsDHL orders more B777s while forwarding loses top spot in air cargo
B777 freighter. Photo: DHLDHL Express has placed an order for six additional 777 freighters from Boeing as Deutsche Post DHL Group closed 2021 with record earnings.The purchase takes DHL Express' order book total to 28 777 freighters since it placed its first direct order in 2018. The express giant has ...
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Menzies predicts continued cargo growth as revenues jump 27%
John Menzies, which is currently in takeover talks, saw its revenue climb 27% to $1.35bn in 2021 compared to $1.1bn in 2020 and it expects cargo to fuel further improvements.The aviation services group said its underlying operating profit was $76m, up $100m since 2020 when it was hit by the ...
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Lufthansa Cargo posts record results
Lufthansa's cargo business has registered record results for the second year in a row as it benefits from improved demand and higher airfreight rates.The Germany-based airline's logistics division, which includes Lufthansa Cargo, Jettainer, time:matters and its investment in AeroLogic, saw revenues for 2021 increase by 38% year on year to ...
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NewsAir cargo market close to pre-pandemic levels but uncertainty ahead
The global air cargo market continued catching up with pre-pandemic levels in February as freight volumes, capacity and load factors stabilised close to 2019’s performance, with rates also slowly trending downwards.This is according to the latest data from industry analysts CLIVE Data Services, which found chargeable weight in February was ...
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NewsApex acquisition helps K+N to rapid airfreight growth
Kuehne+Nagel (K+N) saw its airfreight volumes increase by more than half last year as industry-wide demand soared and the company benefitted from its acquisition of Apex.The forwarder's total airfreight volumes for 2021 were up by 54.9% year on year to 2.2m tonnes, air revenues increased by 97% to SFr11.5bn and ...
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InsightsRobust demand and rates for Asia-Europe air cargo
Asia-Europe air cargo trade looks set to continue with high rates and demand in 2022, writes Roger Hailey.Turbulence is an understatement when describing the many variables facing air cargo’s Asia-Europe trade lane in 2022.A cocktail of ingredients looms ominously: possible Covid-19 variants shutting down factories as well as airlines and ...
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Etihad Cargo registers record cargo results in 2021
Etihad Airways registered record cargo results last year as the airline ramps up its participation in the industry.The carrier saw cargo revenues last year increase by 49% year on year to $1.7bn - more than half its total revenues of $3.1bn - while volumes increased by 26.8% to 729,000 tonnes.Revenues ...
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NewsATSG 2021 revenues up 10%
Rich Corrado, chief executive officer and president of ATSG. Photo: ATSGUS lessor Air Transport Services Group (ATSG) has reported full year 2021 revenues of $1.73bn, up 10% year on year.Adjusted EBITDA was $541.1m, up 9%, and adjusted pretax earnings were $173.9m, up 11%Rich Corrado, president and chief executive officer of ...
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Cargo props up Air New Zealand
Air New Zealand cargo revenues increased 29% to NZ$482m year on year during the first half of its financial year.Robust cargo volumes were supported by the extension of the New Zealand Government’s Maintaining International Air Connectivity (MIAC) scheme and the Australian Government’s International Freight Assistance Mechanism (IFAM) scheme, said the ...
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NewsIAG Cargo sees revenues take off in 2021
IAG Cargo, the cargo division of International Airlines Group, saw its cargo revenues reach new highs last year on the back of soaring rates and an improvement in demand.For the full year, the company reported a 28.1% year-on-year increase in revenues to €1.7bn as traffic, measured in cargo tonne kms ...
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NewsAir Charter Service sees record $1.8bn revenues
Chris Leach. Photo: Air Charter ServiceAir Charter Service’s (ACS) busy cargo arm helped the aircraft charter broker achieve record annual revenues of $1.8bn (£1.3bn), with strong growth and sales across all divisions.ACS said that its cargo division continued to experience “unprecedented demand”, boosted by its three Chinese offices and the ...
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Record revenues for Air Canada Cargo
Air Canada Cargo saw all-time high cargo revenues of nearly C$1.5bn in 2021, compared with C$920m in 2020.The cargo arm’s record annual revenue exceeded C$1bn for the first time, reaching C$490m in the fourth quarter of 2021.Jason Berry, Vice President, Cargo, at Air Canada, said: “Air Canada Cargo has just ...
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Record 2021 results for Atlas Air Worldwide
Atlas Air Worldwide Holdings saw record results in 2021 with increased revenue and income, while also placing all of its incoming B747-8Fs under long-term agreements.The US-based freighter lessor expects a “strong performance” in the first quarter of 2022, helped by new or enhanced long-term customer contracts.Atlas saw 2021 revenues of ...
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NewsChennault Airport invests $4m in air cargo
Chennault International Airport cargo facility render. Source: Chennault International AirportChennault International Airport in Louisiana, US is nearing completion of a $4m facility to enter into the air cargo sector.Construction of the 10,000 sq ft air cargo pass-through facility began in June 2021. It is expected to be completed this summer, ...
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NewsCanadian government funds Winnipeg Airport infrastructure
Photo: Winipeg Airports AuthorityGovernment of Canada funding will enable Winnipeg Richardson International Airport to add a dedicated vehicle access lane for processing cargo.Over C$5.3m funding from Transport Canada's Airport Critical Infrastructure Programme will go towards the establishment of a new permanent structure for the security screening of non-passenger vehicles; the ...
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NewsRiga Airport 2027 strategy seeks to ramp up cargo
Photo: Riga AirportRiga Airport has announced a new strategy that seeks to see over 48,000 tonnes of air cargo handled per year by 2027.The medium-term “Runway 2027” airport strategy provides for the development of the “RIX Airport City” concept.It envisions that the future centre of Riga Airport will include the ...
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NewsDSV reports record results on higher rates and GIL takeover
DSV reported record revenues and profits last year thanks to higher freight rates and acquistions.The Danish forwarder reported a 57.2% year-on-year increase in revenues for the year of DKr182.3bn, while earnings before interest and tax (ebit) were up 70.4% to DKr16.2bn and net profit climbed 164.3% to DKr11.2bn.Results were boosted ...