All Finance articles – Page 28
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HNA signs MOU with Temasek to explore partnerships in aviation and logistics
China's HNA Group has signed a Memorandum of Understanding (MoU) with Temasek, a Singapore investment company, to "explore opportunities in aviation and logistics, and airport infrastructure".Chia Song Hwee, president and chief operating officer of Temasek, said: "Temasek is a long term commercial investor. We are keen to explore investments which ...
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CEVA confirms $1.36bn IPO
CEVA Logistics has confirmed plans for an initial public offering (IPO) and to list its shares on the SIX Swiss Exchange in a move that will raise an expected SFr1.3bn ($1.36bn).The announcement by the $7bn revenue third party global logistics player based in Switzerland confirms earlier industry speculation.The objective of ...
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Qatar Airways set to invest in Moscow's Vnukovo airport
Qatar Airways has entered into an memorandum of understanding (MoU) with Moscow's Vnukovo International Airport, Russia’s third-largest hub, to acquire up to 25% of the airport’s total shares.Qatar Airways group chief executive Akbar Al Baker said that the potential investment will complement the Middle East carrier's existing "strong ties" with ...
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Air Partner shares fall after reporting accounting error
Shares in Air Partner fell 22.6% on the London Stock Exchange today (Tuesday) after the UK charter broker identified an estimated £3.3m accounting error related to the collection of receivables from customers for uncollected amounts since the 2010/11 financial year.Its shares had fallen 32.5 pence by midday today on the ...
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FedEx buys UK e-commerce specialist P2P for £92m
US parcels giant FedEx Corp has boosted its e-commerce presence after acquiring UK-based P2P Mailing for £92m.FedEx said in a statement that P2P provides customers with "unique last-mile delivery options, leveraging its relationships with private, postal, retail and clearance providers in over 200 countries."P2P, headquartered in south east London, has ...
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Lufthansa Cargo sets out a strategy for growth
Lufthansa Cargo boss Peter Gerber admits that the airline’s management did not foresee the air cargo boom of 2017: “We were wrong”.To be fair to the chief executive and chairman of the executive board of Lufthansa Cargo, he was not alone in failing to appreciate that surge of cargo volumes ...
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Kerry Logistics on the up in 2017
Kerry Logistics saw profits and revenues improve last year on the back of demand growth in Asia.The Hong Kong-headquartered freight forwarder registered a 28% year-on-year increase in revenues in 2017 to HK$30.8bn, while its net profit was up 7% to HK$1.2bn.Its freight forwarding business saw profits for 2017 increase by ...
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Swissport sees cargo demand improve in 2017
Ground handler Swissport saw cargo demand increase in line with market growth last year.The handler registered an 8.4% year-on-year increase in cargo volumes to 4.7m tonnes in 2017.Revenues for the cargo segment in 2017 were up 9.2% to Sfr600m, while total company revenues improved by 6.4% to Sfr3.1bn.Eric Born, group ...
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Panalpina management report stresses positive development of airfreight
Panalpina handled 995,900 tons of airfreight in 2017, the highest in the company’s history.The global supply chain services provider gave the figure in its second Integrated Management Report, summarising the company’s activities during 2017 in terms of business performance and sustainability.Plus, both profitability and earnings before interest and taxation (EBIT) ...
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Cathay: “robust” cargo demand in 2017
Hong Kong-based Cathay Pacific Airways saw “robust” cargo demand throughout 2017, with tonnage growth outpacing increases in capacity.The cargo capacity of Cathay Pacific and Cathay Dragon increased by 3.6% year on year and tonnage rose by 10.9%. The load factor stood at 67.8%, up by 3.4 percentage points on the ...
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IATA forecasts FTK growth against stronger trade backdrop
IATA Economics has forecast industry-wide freight tonne kilometres (FTKs) to grow by 4.9% on average over each of the next five years (2018-2022), helped by a stronger economic and trade backdrop than was the case during the previous five-year period.The prediction is based on the assumption that airfreight will continue ...
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Panalpina sees profits soar on record airfreight volumes
Panalpina reported revenue and profit increases last year on the back of record airfreight volumes, while it will continue to target “bolt-on” acquisitions.The Switzerland-based freight forwarder saw 2017 revenues increase 6.5% year on year to Sfr5.5bn, while earnings before interest and tax (ebit) climbed 26.1% to Sfr103m and profits were ...
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Deutsche Post DHL sees 2017 profits climb 7.2% to €3.7bn
Deutsche Post DHL Group (DP-DHLG) saw operating profit climb by 7.2% to €3.7bn in the 2017 financial year, revenues were up by 5.4% to €60.4bn, with all four divisions contributing to the increase.The German logistics giant and the world’s largest purchaser of airfreight capacity said that its DHL Express division ...
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Strong 2017 revenues for West Atlantic
Swedish cargo airline West Atlantic saw strong revenue growth in full year 2017, mainly generated from the contract with Royal Mail and the rise in e-commerce traffic.Revenues of SKr1.6bn were up 20.4 % year-on-year, but there were “significant sub-charter costs”, caused by aircraft delivery delays of Boeing 737-400 aircraft, maintenance ...
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ATSG 2017 revenue and earnings boost, adding more converted B767Fs
US-based aircraft lessor Air Transport Services Group (ATSG) saw 2017 full year revenues up 39% to $1.1bn and announced that its Cargo Aircraft Management (CAM) leasing subsidiary will add two more Boeing 767-300 converted freighters to the fleet this year and a third in 2019.ATSG, which has a long-term B767F ...
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Airfreight's 'outstanding' 2017 for Kuehne+Nagel
Global freight forwarder Kuehne+Nage (K+N) reported an "outstanding" 2017 for airfreight as it saw tonnages surge by 20.4%, growing twice as fast as the overall market which was already at the highest peak since 2010.Announcing its 2017 full year results, the Switzerland-based logistics giant stated: "K+N’s industry-specific airfreight solutions, for ...
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IAG Cargo helped by "unexpectedly buoyant market" in 2017
IAG Cargo adapted to an "unexpectedly buoyant market" in 2017, following a "competitive trading environment" in 2016.Announcing its full year results for 2017, IAG airlines group, which includes British Airways, Iberia and Aer Lingus, reported that cargo revenue for the full year 2017 increased by 8% at constant currency to ...
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'Exciting' 2017 for Atlas and positive outlook for 2018
US-based Freighter operator and lessor Atlas Air Worldwide (AAWW) has reported record 2017 fourth-quarter earnings and record full-year revenues, with expectations of further business growth this year.AAWW’s revenue rose by 19% in the fourth quarter of 2017 compared to the same three months of 2017, while adjusted earnings before interest, ...
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Heathrow celebrates continued growth in cargo volumes
Heathrow Airport Ltd (HAL) has released financial and traffic results for last year, with increased freight traffic contributing to improved revenues and earnings.The gateway handled 1.7m tonnes of cargo during the 2017 calendar year, a 10.2% increase compared with 2016.2017 represented one of the strongest periods of business over the ...
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Agility reports on ‘critical’ 2017
Global logistic services provider Agility has reported a 14% rise in 2017 full year revenues to KD1.4bn.The Kuwait-headquartered operator saw EBITDA of KD135.2m in 2017, up by 17.4% year-on-year. Net profit at KD68.5m was up by 16% over 2016.Agility chief executive and vice chairman Tarek Sultan said: “In 2017, Agility ...