All Finance articles – Page 24
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NewsQantas enjoys strong six months with cargo on the up
Australian flag-carrier Qantas has announced strong financial results for the six-month period that ended on December 31 (the first half of its current financial year).Net freight revenue reached A$525, up by 15% on the same period of 2017.The carrier said in a statement that, “The freight business delivered a steady ...
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Expeditors reports on steady fourth-quarter performance
Seattle, Washington state-headquartered forwarder Expeditors International has released fourth-quarter 2018 results that included an 18% year on year improvement in revenues and 9% improvement in operating income.Airfreight volumes handled were up by 2% on those of the same quarter of 217.President and chief executive Jeffrey Musser observed: “The fourth quarter ...
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Mixed results for AF KLM Cargo
The Air France-KLM airline group has reported its 2018 full-year results, which paint a mixed picture with cargo volumes down but revenues up.In terms of its freight-related operations, over the course of the year cargo volumes fell by 0.1% compared to 2017 to 1.14m tonnes, while revenues rose by 4.1% ...
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NewsACG supports ABC growth with B747F financing
Aircraft operating lessor Aviation Capital Group (ACG) has confirmed that it has structured, arranged and provided a guarantee of a loan by MUFG Bank to finance a portion of the purchase price of a Boeing 747-8F aircraft delivered to AirBridgeCargo (ABC) Airlines.The ABC financing was arranged under ACG’s Aircraft Financing ...
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Atlas looks back on record results in 2018
Atlas Air Worldwide Holdings (AAWW) has reported record fourth-quarter and full-year volumes, revenue and earnings in 2018.Moreover, the Purchase, New York-headquartered provider of outsourced aircraft and aviation operating services has predicted continued growth this year.“2018 was another great year for Atlas, with substantial growth in the scale, diversity and profitability ...
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Airfreight helps drive profit improvement at Agility
Logistics firm Agility saw revenues and profits improve last year, while it has also confirmed that it has entered tie-up talks with Panalpina.The Kuwait-headquartered logistics firm saw revenues for 2018 increase by 10.2% year on year to KD1.5bn, while ebitda was up 14.5% to KD154.8mand net profits jumped 18.4% to ...
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DSV: No comment on Panalpina as profits rise
DSV saw profits and revenues take-off in 2018 but has declined to provide any further comment on its attempt to acquire Panalpina.The Copenhagen-headquartered freight forwarder saw full-year revenues increase by 5.5% to DKr79bn, earnings before interest and tax (ebit) were up 11.7% to DKr5.4bn and net profits increased 32.4% to ...
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CEVA expects revenues to increase but profits to be hit by one-off costs
CEVA Logistics is expecting to see an improvement in its annual revenues, but operating profits are set to have declined due to one-time events.The company said it expects revenues for 2018 to have increased by 5.2% year on year to $7.4bn, while earnings before interest, tax, depreciation and amortisation (ebitda) ...
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UPS revenues up but profits down in Q4
UPS saw revenues increase during the fourth quarter on the back of "record shipments" but its profits took a hit as a result of pension charges.The express giant saw fourth-quarter revenues increase by 4.6% year on year to $19.8bn, but operating profits were down 2.9% on last year to $2bn ...
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Swissport extends HNA loan as first half 2018 cargo revenues rise 7.3%
Swissport has again extended the collection date on the €286m balance of a loan to parent company HNA Group, while the Chinese conglomerate “concludes its assessment of strategic options” for its ground handler. subsidiary.News of the extension came as Swissport reported a 4.1% rise in group revenues to €1.43bn for ...
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CEVA board decides not to recommend CMA CGM takeover bid of CHF30 per share
CEVA Logistics's board had decided not to recommend the CHF30 per share takeover offer by shipping line CMA CGM, a 33% major shareholder.Switzerland-based CEVA said in a statement that its board of directors, “with the exception of two conflicted members, came unanimously to the conclusion not to recommend to CEVA's ...
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Aviation Capital Group to finance a B747-8F for AirBridgeCargo
AirBridgeCargo (ABC) is using Aviation Capital Group (ACG) to finance part of the Russia-based operator’s purchase of a Boeing 747-8F which is set for delivery next month (February).The freighter airline’s financing mandate to “structure, arrange, and provide a guarantee” for a senior loan was awarded to the US-based aircraft operating ...
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Spectre announces refinancing for seven B737 converted freighters
Spectre Cargo Solutions, the freighter-focused arm of aircraft trading and leasing specialist Spectre Air Capital, has completed the initial stage of refinancing for seven Boeing 737-700 and -800 converted freighters.Texas-based Spectre Cargo Solutions, through its Irish affiliate NGF Genesis, has closed its first round of a long-term senior debt facility ...
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DSV in unsolicited $4bn bid for Panalpina
Danish logistics giant DSV has made an unsolicited bid to acquire Switzerland-based Panalpina in a SFr170 per share offer that values the rival freight forwarder at around $4bn.Based on 2017 figures (the latest available), the move would create the world's second largest airfreight forwarder (see chart at end of article) ...
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KKR partners with Altavair in $1bn aircraft investment
US-based Global investment firm KKR is linking up with Altavair AirFinance with an initial $1bn capital commitment, part of which will go towards the acquisition of six “cargo aircraft” on long-term lease with “a diverse group of airline counterparties”.Dan Pietrzak, a member of KKR, said: “Since our first investment in ...
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Qatar Airways takes 5% stake in China Southern
Qatar Airways Group has acquired a 5% share stake in China Southern Airlines.The Middle East carrier said that the purchase of China Southern A and H shares continues a strategy to invest in “the strongest airlines around the world and continue enhancing operations and network connectivity”.Latest available fleet data indicates ...
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VINCI to pay £2.9bn for 50.1% stake in Gatwick Airport
VINCI Airports has signed an agreement valued at £2.9bn to acquire a 50.01% stake in the UK’s Gatwick Airport Ltd.The purchase from current shareholders Global Infrastructure Partners (GIP) is expected to complete in the first half of 2019.The other 49.99% in Gatwick will be managed by GIP, an independent infrastructure ...
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ACS sees record revenues in November
Aircraft broker specialist Air Charter Service (ACS) saw record monthly revenues of £61m in November, beating the previous monthly high of £52m.Group chief executive Justin Bowman said: “This is an outstanding achievement by the whole team, which is now more than 500 aviation experts. We saw substantial increases across all ...
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Salmon demand helps keep LATAM's cargo traffic growing
LATAM Cargo saw revenues and volumes improve in the third quarter of the year, with demand for salmon helping to propel demand.The Chile-headquartered carrier, which operates 10 B767-300Fs, recorded total cargo revenues for the period of $279m, up 2.5% year on year, while cargo traffic improved by the same amount ...
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Emirates' H1 cargo volumes down slightly, while profits under pressure
Emirates SkyCargo recorded a slight dip in freight traffic during the first half of the year, while the overall group saw profits slide compared with a year ago.Figures released today by the Emirates Group show that cargo volumes for the first half of 2019 declined by 1% year on year ...