All Finance articles – Page 34
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DHL claims high-tech leadership in Italy after MIT buy
Deutsche Post DHL Group contract logistics arm, DHL Supply Chain, has bought niche Italian operator MIT Safetrans, saying that it is now the country’s leading player in the hi-tech life sciences and healthcare industry.The move also adds 20 operating sites to DHL Supply Chain Italy’s network – making a total ...
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IATA seeks US anti-trust immunity to maintain Venezuelan airlinks
IATA has filed a request for antitrust immunity with the US Department of Transportation which would allow airlines to discuss options to maintain connectivity to Venezuela whose government refuses to release $3.8bn in airline funds.Alexandre de Juniac, IATA’s director general and chief executive, said: “The economic situation in Venezuela is ...
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NewsFedEx sees profits improve despite TNT integration costs
FedEx saw first quarter revenues increase by double-digit levels during its fiscal first quarter while net income also improved as its acquisition of TNT Express was included in its results for the first time.The parcel giant saw fiscal-first quarter revenues increase by 19.5% year on year to $14.7bn, while its ...
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GECAS signs purchase-and-leaseback deal with Korean Air for five B777Fs
GE Capital Aviation Services (GECAS) has signed a purchase-and-leaseback transaction with Korean Air Lines for five new Boeing 777 freighters as part of the Asian carrier’s fleet renewal programme.The commercial aircraft leasing arm of GE said that deliveries of the GE90-powered aircraft freighters are scheduled in late 2016 and 2017.Korean ...
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Difficult cargo markets hit Qantas Freight
Qantas Freight, the cargo arm of the Australian flag carrier, reported a 44% fall in full year earnings before interest and tax to A$64m, reflecting “difficult global cargo markets and the end of favourable legacy agreements with Australian Air Express”.Commenting on the airline’s full year results ended June 30, group ...
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Cargo revenues down at ANA as currency and oversupply hit results
ANA's cargo business recorded a double-digit decline in airfreight revenues during its first fiscal quarter despite an increase in traffic.During its fiscal first quarter ended June 30, the Japanese carrier saw airfreight demand increase 16.2% year on year to 1.1bn freight tonne km, while revenues declined by 23.6% on a ...
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Revenues down but operating profit surges for DP-DHL's forwarding arm
Deutsche Post DHL Group’s (DP-DHL) freight forwarding arm saw 2016 second quarter revenues fall by 9.3% to €3.4bn, versus €3.8 in like prior year period 2015, while divisional operating profit improved by 72.5% to €69m.Adjusted for negative currency effects and lower fuel surcharges, the Global Forwarding, Freight division’s revenue declined ...
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NewsLufthansa's cargo business remains in the red
Lufthansa’s cargo division recorded its fifth quarterly operating loss in a row as competition on global airfreight markets remained “intense”.The German airline group’s logistics business, which includes Lufthansa Cargo, ULD specialist Jettainer and its other investments, recorded a 16.4% year-on-year decline in second-quarter revenues to €496m.Earnings before interest and tax ...
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Qatar investment arm takes stake in St.Petersburg's Pulkovo airport
Fraport Frankfurt Airport Services Worldwide (Fraport) and its consortium partners at Russia’s Pulkovo Airport in St. Petersburg are to sell part of their shares in Thalita Trading to Qatar Investment Authority (QIA).Thalita is the parent company of Northern Capital Gateway consortium which has the 30-year concession for operating Pulkovo Airport ...
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Qatar Airways ups stake in IAG to 20%
Middle East gulf carrier Qatar Airways has increased its shareholding in IAG, the parent group of British Airways and Iberia, to 20.1%, saying that it does not intend to increase its stake further "unless there are material changes to the current situation".This latest move follows a gradual stakebuilding by Qatar ...
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NewsIAG reports double-digit cargo revenue decline despite demand increase
IAG recorded a double-digit percentage decline in cargo revenues during the second quarter of the year despite an increase in demand during the period.The British Airways, Iberia and Aer Lingus owner this morning announced second-quarter cargo revenues of €241m compared with €274m during the same period last year, representing a ...
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JAL's international cargo revenues plunge 32.6% in the first quarter
Japan Airlines (JAL) recorded a 32.6% year on year drop in international cargo revenues to ¥9.9bn in the three months ended June, due to a decline in demand on transpacific routes and other sectors.The Japanese flag-carrier also recorded a 4.1% year-on-year decrease in cargo volumes, measured in revenue cargo ton ...
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NewsAir France KLM Cargo remains in the red
Air France KLM’s cargo business remained in the red during the first half of the year but the phasing out of freighters has helped improve performance compared with a year earlier.The Franco-Dutch airline group’s first-half figures for the cargo business show an operating loss of €116m against a loss of ...
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DHL to surf US e-commerce boom with $137m investment
Deutsche Post DHL Group (DP-DHL) has announced a $137m investment plan for the US domestic and cross-border e-commerce market.The German-headquartered logistics group said that its objective is to exploit the global business to consumer (B2C) e-commerce market for shipments crossing borders which is expected to grow from $400bn today to ...
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Panalpina airfreight volumes rise in difficult market
Panalpina has reported on a challenging six months of operations for its airfreight arm, and right across its business.Airfreight volumes rose by 8% year on year over the first six months of 2016, although the market had – the Switzerland based logistics player said – shrunk by 3%.However, much of ...
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Lufthansa downgrades profit expectations
German flag-carrier Lufthansa has reported provisional figures that suggest the airline made revenue of €15bn (S16.6bn) in the first half of this year, down from the January – June 2015 figure of €15.4bn ($17bn).Its adjusted EBIT (earnings before interest and taxation) of €529m ($584m) earned in the first half of ...
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NewsAirfreight volumes on the up for K+N
Logistics services giant Kuehne+Nagel (K+N) has reported its half-year results for the six-month period ending 30 June.The Switzerland-headquartered company said that while net turnover fell year on year from CHF8,225m ($8,366m) to CHF8,147m ($8,287m), gross profit rose by 8% compared to the first half of 2015, improving from CHF3,018m ($3,070m)to ...
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Qatar becomes cargo carrier number three
Qatar Airways Cargo became the third-largest cargo operator in the world in October 2015, said the Middle East carrier in its 2015/16 annual report.In what it described as a record year, Qatar increased its dedicated freighter destinations to 54, adding Dallas, Budapest, Prague, Ho Chi Minh City, and New York ...
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FedEx boosted by e-commerce and lower fuel costs, commits to six more freighters
Express services giant FedEx has reported on its fourth-quarter results for its 2016 fiscal year (three months ending May 31), as well as its full fiscal year results.Revenue rose year on year in the results for both the fourth-quarter (up to $13bn from $12.1bn in the same prior year quarter) ...
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Volga-Dnepr Group inks financial accord with Sberbank
Russian airline enterprise Volga-Dnepr Group agreed a new strategic cooperation agreement with Sberbank, Russia’s largest bank, at the recent St. Petersburg International Economic Forum.The deal was inked by Maxim Poletaev, first deputy chairman of the Executive Board of Sberbank, and Alexey Isaikin, president of Volga-Dnepr Group.Volga-Dnepr Group has confirmed through ...