All Finance articles – Page 39
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Cargo revenues slide at Turkish Airlines
Turkish Airlines continued to report improved profits during the second quarter of the year, but revenues at its cargo division declined once again.The Turkish flag carrier recorded an overall net profit of $253m during the second quarter of the year compared with $190m during the same period last year.2015 half-year ...
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Geodis to buy logistics operator OHL
French global forwarder Geodis has entered into an agreement to acquire US-based third party logistics operator Ozburn-Hessey Logistics (OHL) for an undisclosed amount.The number four European supply chain operator said that OHL will be rebranded “in time” under the Geodis banner.Geodis, 100% owned by French railways subsidiary SNCF Logistics, has ...
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LATAM sees air cargo revenues fall as South American economies continue to struggle
LATAM recorded declines in air cargo revenues and volumes during the second quarter as it faced difficult economic conditions in South America.The newly rebranded airline group saw second-quarter cargo revenues decline by 21.3% to $334m compared with a year earlier as a result of a 12.5% decline in traffic to ...
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Finnair Cargo sees revenues and traffic slide in the second quarter
Finnair Cargo saw revenues, volumes and yields decline during the second quarter of the year as its withdrawal from Asia-Europe freighter operations and tough market conditions had an impact of results.The Helsinki-headquartered operator saw second-quarter revenues decline by 23% on last year to €45.1m while cargo traffic declined by 19.2% ...
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Cargojet in second quarter loss despite revenue surge
Canada-based Cargojet, overnight airfreight operator, saw 2015 second-quarter revenues leap 69.6% to C$75.2m, due mainly to its new domestic airlift contract with Canada Post.But the Toronto-listed company recorded a C$6.1m loss for the quarter and a C$14.4m for the half year to June 2015.Ajay Virmani, president and chief executive, said: ...
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How did Europe's busiest air cargo carriers perform in the second quarter?
The second-quarter results are in and at first glance two out of Europe’s three largest listed cargo carriers appeared to have performed well at a revenue level.Both Lufthansa Cargo and IAG Cargo recorded year-on-year growth in revenues, of 6.2% and 8.8% respectively, however this was heavily influenced by exchange rates, ...
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UPDATE: DHL airfreight volumes decline as it turns away business to protect margins
Freight forwarder DHL Global Forwarding's decision to turn away airfreight business to protect profits in the first half of this year resulted in a decline in volumes.The Bonn-headquartered forwarder recorded a 7.2% year-on-year decline in airfreight exports during the second quarter to 530,000 tonnes, while the half-year result was down ...
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Logistics M&A set to continue say PwC
Strong 2015 second quarter merger and acquisition (M&A) activity within the transport and logistics industry looks set to continue, says the latest survey by business consultants PwC.The latest quarterly Intersections analysis by PwC found that transport and logistics sector deal activity saw improvements in both volume and value, driven by ...
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DHL Global Forwarding considers the future of troubled IT transformation project
DHL Global Forwarding is considering completely scrapping the IT and enterprise resource planning (ERP) systems it has been developing as part of its New Forwarding Environment (NFE) transformation project in favour of a different system.Speaking shortly after announcing second-quarter results, Deutsche Post DHL chief financial officer Larry Rosen said that ...
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Record half year for freighter lessor ATSG
Air Transport Services Group (ATSG), the medium wide-body freighter aircraft lessor, reported record first-half 2015 results on the back of continued growth plus a “strong appetite” for its Boeing 767 freighters.US-based ATSG’s pre-tax earnings from continuing operations in the second quarter increased 17% to $17.2m, including a 35% increase in ...
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Update: airlines Swiss-Lufthansa adopt new air cargo pricing structure
Swiss WorldCargo and Lufthansa Cargo have provided further information on their new cargo pricing structure which takes effect from October 25 this year.The pricing of both airlines will consist of just two components: a net rate and an airfreight surcharge.Said Lufthansa Cargo: “As a result, the different surcharges currently in ...
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Lufthansa's air cargo and logistics division slips to loss on freight centre delay
Lufthansa’s air cargo and logistics division sank to an operating loss in the first half of the year despite lower fuel prices and an increase in revenues.The logistics segment, which includes Lufthansa Cargo, Jettainer and its share of AeroLogic, saw first-half revenues increase by 4% on last year to €1.2bn ...
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FedEx and Atlas join coalition to back Middle East carriers in US subsidy row
FedEx and Atlas Air have joined up with two other US carriers to create the US Airlines for Open Skies Coalition, in support of Middle East Gulf airlines who have been accused of distorting competition via state subsidies.US-based parcels giant FedEx and lessor Atlas have joined forces with JetBlue Airways ...
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Brussels launches probe into FedEx’s proposed TNT takeover
The European Commission has opened an in-depth investigation into FedEx’s proposed $4.8bn takeover of TNT Express over concerns the deal could reduce competition and push up prices.The Commission said it had concerns that on a number of European markets for international express and regular small package deliveries, the merged entity ...
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IAG revenues up on currency gains
IAG saw cargo revenues increase by more than 8% during the second quarter of the year despite a volume decline caused by a move away from operating its own freighters.The Iberia and BA owner recorded cargo revenues of €259m during the second quarter of the year, up from €238m during ...
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IATA hits out at Paris airport charge increases
IATA has hit at the French Government for allowing the operator of Paris-Charles de Gaulle (CDG) and Paris-Orly (ORY) airports to continue increasing airport charges for each year of the 2016-2020 period.The airline group said the French government’s decision ignores the recommendation of the independent Airport Consultative Commission, which said ...
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Strong full year prediction from Atlas Air
Freighter aircraft lessor Atlas Air expects to end 2015 with “a strong year and a significant increase in earnings” on the back of a second quarter that saw “contribution and margin strength” in the ACMI, charter and dry leasing sectors.Bill Flynn, president and chief executive of Atlas Air Worldwide Holdings, ...
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ANA endures tough quarter for cargo
ANA Cargo has endured a difficult second quarter as revenues, volumes and load factors all declined as typhoons, softening export demand and a weakening yen took their toll.The Japanese carrier saw cargo revenues decline by 2.4% during the April-June period to Y36bn.Cargo traffic slid by the larger amount of 7% ...
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JAL Cargo revenues up on international growth
JAL Cargo has recorded an increase in cargo revenues during the first quarter of its fiscal financial year.The Japanese carrier saw international and domestic cargo revenues during the April-June period increase to Y20.5bn from Y19.8bn a year earlier.International volumes increased by 9.4% during the period in cargo ton km terms, ...
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Ground handling shake-up continues as HNA swoops on Swissport in Sfr2.7bn deal
The fast-changing ground handling industry today saw a second major takeover take place within a week when China’s HNA Group swooped on Swissport in a Sfr2.73bn deal.HNA, owner of China’s fourth-largest airline, Hainan Airlines, said Zurich-based Swissport would remain a standalone business within the group and added that it would ...