All Finance articles – Page 31
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SIA Cargo flies back into profit
SIA Cargo reported a financial year first quarter operating profit of $6m, reversing its loss of $34m in the same April-June last year.Revenue received a $57m boost from freight growth of 6.9%, further lifted by a 4.8% improvement in cargo yield, said the Singapore-based mega-Asian carrier.SIA Cargo operates a fleet ...
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Second quarter cargo surge for IAG
British Airways, Aer Lingus and Iberia parent group IAG had a strong cargo second quarter as airfreight revenues at the European group soared by 7.9% to €260m against the same quarter of 2016, or an increase of 7.6% on 2016 at constant exchange.IAG's half year 2017 results saw cargo revenues ...
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Etihad Airways registers $1.8bn loss in 2016 as cargo comes under pressure
Etihad Airways saw its cargo revenues drop by 10% last year despite an increase volumes, while the overall company slipped to a $1.8bn loss.The Abu Dhabi-hubbed airline recorded cargo revenues of $900m in 2016 compared with a $1bn in 2015. This came despite a 0.8% increase in cargo volumes to ...
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UPS sees profits and revenues improve in Q2
Express giant UPS saw revenues and net income increase during the second quarter of the year as e-commerce gains helped push performance.The Atlanta-headquartered firm saw second-quarter revenues increase by 7.7% year on year to reach $15.7bn, while net income grew by 9.1% to hit $1.4bn.Revenue growth was led by its ...
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Freight forwarder Panalpina expects continuing airfreight margin pressure
Freight forwarder Panalpina will concentrate on controlling costs after its airfreight business faced continued margin pressure on higher airfreight demand.The Switzerland-headquartered logistics giant saw second-quarter airfreight revenues increase by 10% year on year to Sfr700m on the back of a 6.6% improvement in tons carried to 240,000 and rising freight ...
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NewsUnited Airlines registers improvement in air cargo revenues and traffic
United Airlines saw air cargo revenues increase by more than 20% in the second quarter of the year as a result of improving freight traffic.The airline saw cargo revenues increase by 22.1% year on year during the second quarter of the year, while traffic was up 21.9% to 828m cargo ...
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Freight forwarder K+N sets the pace as air volumes soar
Freight forwarder Kuehne+Nagel (K+N) saw airfreight volumes grow at almost double the market rate during the first half of the year, with performance improving during the second quarter.The Switzerland-headquartered freight forwarder saw first-half airfreight demand increase by 18% year on year to 731,000 tons, while the overall market increased by ...
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NewsDelta records first increase in quarterly cargo demand since 2015
Delta Air Lines has registered an improvement in quarterly airfreight traffic for the first time since the start of 2015.The Atlanta-based airline saw second-quarter cargo demand improve by 11.7% year on year to reach 554m cargo ton miles (CTM).It is the first time the airline has seen cargo traffic increase ...
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NewsNew rate structure for cargo tenants at Chicago O'Hare
Chicago’s O’Hare International Airport (ORD) is to have a new uniform rate structure for aeronautical real estate leases.With several cargo and hangar leases set to expire in May 2018, the Chicago Department of Aviation (CDA) has reached agreements with a dozen airline and cargo carriers for new ground and facility ...
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Atlas: first Amazon freighter to enter service "in this quarter"
Atlas Air Worldwide Holdings (AAWW) expects to place its first freighter aircraft into service for internet retail giant Amazon “soon in this quarter”.President and chief executive Bill Flynn, announcing the US-based freighter lessor's second quarter 2016 results, said: “We have secured all of the conversion slots and the vast majority ...
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Van de Stadt lands DVB Bank's global head of aviation role
DVB Bank, the specialist in international transport finance, has appointed Eelco van de Stadt as global head of aviation, with effect from the beginning of August 2017.Van de Stadt, currently DVB's head of aviation finance North & South America, replaces David Goring-Thomas who was recently appointed to join DVB's board ...
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FedEx reports record Q4 performance
FedEx has reported record fiscal fourth quarter results thanks to its acquisition of TNT, higher base rates and increased package volume.The express giant saw fiscal fourth-quarter revenues increase by 20.7% year on year to $15.7bn, its operating income for the period was up 4.6% to $1.5bn and net income increased ...
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SEGRO swoops for Heathrow's "jewels in the crown" airside cargo property
Industrial warehouse developer SEGRO has paid £365m to acquire 100% control of Airport Property Partnership (APP), whose "jewels in the crown" assets include the majority of Heathrow Airport’s airside cargo facilities.SEGRO has bought the 50% interest in the APP joint venture that it did not already own from partner Aviva ...
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DSV airfreight outpaces market on UTi acquisition
DSV recorded improvements in profits, revenues and airfreight demand during the first quarter of the year as it continued to benefit from its acquisition of UTi and market growth.The Copenhagen-headquartered freight forwarder saw first-quarter airfreight demand improve by 20% year on year to 147,439 tonnes. The forwarder estimates that the ...
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Panalpina snaps up Danish and Kenyan forwarders
Panalpina has announced two acquisitions: a Danish logistics operator with a seafreight focus and a Kenya-based perishables specialist in the export of flowers and vegetables.The Switzerland-headquartered logistics giant will acquire the family-owned Kenyan forwarder Air Connection, subject to conditions.The deal comes two years after Panalpina increased its presence in Kenyan ...
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NewsIAG Cargo traffic up on shipping disruption but revenues slide
IAG Cargo saw revenues decline in the first quarter of the year due to challenging market conditions but it registered an improvement in traffic partly driven by container shipping disruption.The cargo arm of IAG, which owns British Airways, Iberia and Aer Lingus, recorded a 2.3% year-on-year decrease in first-quarter cargo ...
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Atlas looks forward to a strong peak after a "flying start" to 2017
Atlas Air Worldwide Holdings got “off to an exciting start in 2017” as it announced 2017 improved income from continuing operations, but it registered a net loss.During the first quarter income from continuing operations, net of taxes, total $8.3m compared with $7.7m in the year-ago quarter, operating revenues increased by ...
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Jan de Rijk Logistics reports improved results in 2016
European trucker Jan de Rijk Logistics recorded a near 10% rise in its 2016 operating result and remains “modestly optimistic” for 2017 despite challenges from labour costs, capacity shortages and regulatory changes.The road feeder services and logistics specialist booked a total combined turnover of €208m in 2016, and an operating ...
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Kalitta Air takes delivery of first GECAS-leased B747-400F
US freighter operator Kalitta Air has taken delivery of the first of two leased 747-400F factory freighters from GE Capital Aviation Services (GECAS), an Ireland-based aviation leasing and financing company.GECAS said that the aircraft delivery marked “a new milestone in the decade-long relationship of the two companies”.While GECAS has previously ...
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Atlas looks to raise funds through note sale
Atlas Air Worldwide Holdings is looking to raise $250m through the sale of convertible senior notes to repay borrowings and support future growth.In a stock exchange announcement, the company said the bond sale would see it offer senior notes due on June 1 2024 in an underwritten public offering.The company ...