All Finance articles – Page 27
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News
K+N sees airfreight volumes grow ahead of the market in Q2
Kuehne+Nagel (K+N) recorded an above market increase in airfreight volumes in the second quarter of the year, while overall group profits were also on the rise.The Switzerland-based freight forwarder saw its airfreight volumes increase by 15.7% year on year during the April-June period to 441,000 tonnes compared with overall market ...
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Amerijet switching to indexed fuel surcharge
Miami-based Amerijet International Airlines is changing its fuel surcharge calculation method to an indexed model, “in order to more accurately follow the fuel markets”.The all-cargo carrier’s vice president of sales and marketing, Derry Huff, said: “This will provide both Amerijet and our customers a fair and transparent methodology which will ...
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CMA CGM obtains regulatory green light for 24.9% stake in CEVA
CMA-CGM, the world's third largest container shipping group, has obtained all regulatory approvals to complete its 24.99% shareholder investment in supply chain specialist CEVA Logistics.CMA CGM made a strategic investment in convertible securities issued by CEVA in a concurrent private placement at the time of CEVA's initial public offering (IPO) ...
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CEVA set to refinance its debts with a $400m private offering
CEVA Logistics is set to go to the markets with a proposed $400m private offering to refinance its existing debt facilities and may seek a further $35Om "at a later stage".The Switzerland-based supply chain company also plans to enter into a new $600m Senior Revolving Credit and Ancillary Facility (RCF) ...
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Etihad announces new organisational structure as it strives for profitability
Etihad Aviation Group has announced a new organisational structure for Etihad Airways as it looks to return the airline to profitability.Under the new structure, the group will be reorganised into seven business divisions – operations, commercial, maintenance, repair & overhaul (MRO), human resources, finance, support services and transformation.The group will ...
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cargo-partner sees revenues rise on airfreight growth
Austria-based logistics firm cargo-partner has posted a 2% rise in its consolidated turnover for 2017, at €698m. Net profit for the year totalled €6m.Chief executive Stefan Krauter said: “We had a successful start into the business year and have achieved volume growths in all our business areas. The general upward ...
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Air Partner: record freight performance
UK-based charter broker Air Partner has reported results for the financial year ended January 31, including details of the accounting review it undertook to resolve an error detected during its year-end close process.The company’s gross profit for the year stood at £36.1m, up 13.8% on the previous reporting period. Underlying ...
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Full year profit turnaround for SIA Cargo
Singapore Airlines’ (SIA) cargo division reported an operating profit of S$148.1m in the 2017/18 financial year, up from S$3m in the prior year which was impacted by a S$132m provision for competition-related matters.Cargo revenue in the 12 months to the end of March 2018 grew S$264m to around S$2.2bn as ...
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CEVA reports solid first quarter
Supply chain services giant CEVA Logistics reported a 2018 first quarter revenue improvement of 5.4% (at constant currency) to $1.79bn, while also seeing strong improvements in earnings in both its Freight Management and Contract Logistics segments.The January to March reporting period also saw Switzerland-headquartered CEVA complete an Initial Public Offering ...
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Europa enjoys record year
Logistics service provider Europa Worldwide Group has reported annual financial results for the 2017 calendar year, and declared that it is now in “the strongest and most profitable position in its 50-year history”.Europa is a specialist road, air and sea, and warehouse operator which employs more than 650 staff across ...
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Emirates cargo revenues soar 17% in 2017-18 financial year
Dubai-based airline Emirates carried just over 2.6m tonnes in the 2017-18 financial year, a 1.8% increase over prior year, while sister company, ground handler dnata, registered an 8.4% rise in global volumes to around 3.1m tonnes.The airline's airfreight division, Emirates SkyCargo, achieved revenues of AED12.4bn, an increase of 17% over ...
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Swissport receives $100m partial loan repayment from HNA parent
Swissport has received a further $100m (€83m) repayment on the ground handler's affiliate loan to its parent company, China's HNA Group, and has agreed to a "temporary remedies standstill period" of five months in collecting the balance.The repayment is in partial satisfaction of HNA Group's obligations under an outstanding affiliate ...
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DP DHL group Q1 revenue dips but freight forwarding turnaround continues
Deutsche Post DHL (DP-DHL) Group saw a slight dip in first quarter 2018 revenues to €14.7bn from €14.9 bn in prior year, mainly attributable to negative currency effects and the sale of UK supply chain subsidiary Williams Lea Tag.On an organic basis – after adjusting for currency and portfolio effects ...
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CEVA launches IPO on Swiss stock exchange
The initial public offering (IPO) of CEVA Logistics (CEVA) was launched today with the traditional ringing of a cow bell to open the day's trading.CEVA chief executive Xavier Urbain was joined by executives from SIX and other members of the CEVA team to celebrate the company's arrival on the SIX.Werner ...
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IAG Cargo revenues on the rise in Q1 2018
IAG Cargo's first quarter 2018 results saw commercial revenues of €276m, a rise of 3.4%, or 10.9% at constant currency versus last year.The cargo division, which includes British Airways, Iberia, Vueling, Level and Aer Lingus, saw overall yield for the January to March period up 11.8% at constant exchange. Volumes ...
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time:matters sales revenue up 55% in 2017
Express logistics provider time:matters saw 2017 sales revenue up 55% prior year to €108m as the Lufthansa Cargo-owned company targeted internationalisation and the digitisation of its service offering.In a statement, the company said that the opening of the first sameday air station outside of Europe, in Tel Aviv, represented "a ...
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CEVA listing to take place on May 4
CEVA Logistics has announced its listing on the Swiss stock exchange will begin on May 4 and the company looks to raise around Sfr1.2bn.The all-primary share listing, which was announced earlier this month, will have a wide price spread of between Sfr27.50 and Sfr52.50.Initially, the forwarder had been hoping to ...
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Airfreight rates help push Dachser revenues over the €6bn mark in 2017
Germany’s Dachser achieved record revenues in 2017, crossing the €6bn threshold for the first time.The global logistics provider increased its consolidated gross revenue by 7.2% to €6.12bn. Dachser also set other company records by handling a total of 81.7m shipments (+2.1%).“We systematically pursued our successful export strategy for European overland ...
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NewsDelta sees cargo revenues soar in Q1
Delta Air Lines saw cargo volumes take off in the first quarter of the year, while revenues for the period reached their highest level since 2015.The Atlanta-headquartered airline saw total cargo revenues reach $202m, up 23.9% compared with a year earlier.This is the highest level first-quarter cargo revenues at the ...
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Air Partner updates on accounting review
UK charter broker Air Partner has restated the financial impact from an accounting error in its receivables and deferred income since the 2010/11 financial year, originally estimated at £3.3m, saying today that it “will not exceed £4m”.The Air Partner Board has appointed PricewaterhouseCoopers(PwC) and Rosenblatt Solicitors to provide independent accounting ...