All Finance articles – Page 41
-
News
Deutsche Post's weak forwarding arm hits Q1 operating profits
First quarter 2015 airfreight volumes at German logistics giant Deutsche Post DHL rose by just 0.3 per cent to 935,000 tonnes, with group operating profits hit by the “weak performance” of the Global Forwarding and Freight business.Although the forwarding unit’s quarterly reported revenues increased by 7.6 per cent to €3.8bn, ...
-
News
IAG Cargo Q1 revenues down, but load factors up
IAG Cargo reported a 2015 first-quarter decline in revenues of just over one per cent on the back of a capacity reduction programme and a resultant volume decrease.During the first three months of the year, the British Airways and Iberia cargo division saw revenues decline by 1.6 per cent on ...
-
News
Lufthansa delays the construction of new Frankfurt cargo centre
Lufthansa has delayed its planned investment in a new cargo centre at Frankfurt airport for at least two years as the group scrutinises its investment plan.At this week's Lufthansa Group general meeting the supervisory board of the Deutsche Lufthansa was informed of the decision to delay construction of the LCCneo ...
-
News
ACS sees 2014 cargo recovery as revenues surge
Air Charter Service (ACS) reports an “extremely successful 2014” for all three of its divisions.Chris Leach, chairman of the UK-headquartered broker, observed: “The figures across the board are extremely pleasing. Every department – private jets, commercial airliners, group travel and cargo – grew in terms of revenue and number of ...
-
News
No update on FedEx deal as TNT reports Q1 loss
TNT Express was unable to provide any updates on its potential acquisition by FedEx as it announced a first quarter loss despite an improvement in revenues.The integrator reported a 1.3% year-on-year increase in first quarter revenues to €1.6bn, but operating income for the period slipped to a €11m loss from ...
-
News
AN-124 paint job to save $100,000 in fuel per year
A fresh lick of paint for an An-124-100 will give Volga-Dnepr Airlines an expected fuel saving of over $100,000 a year.The freighter will be painted using a leading durable coating technology to increase the aircraft’s aerodynamic qualities.Vladimir Drebnev, senior engineer, continuing airworthiness at Russian-based Volga-Dnepr, stated: “The base coat/clear coat ...
-
News
FedEx-TNT deal to create third force in express
FedEx’s planned takeover of rival carrier TNT would create a third force in the express market – and unlike UPS’ attempted takeover 2½ years ago, it would succeed, the leaders of the two companies predicted at a press conference this morning.The acquisition would bring TNT’s “exceptional” road platform into the ...
-
News
Panalpina airfreight volumes hit by lower automotive
Panalpina’s airfreight volumes grew one per cent in the 2015 first quarter to 205,000 tons - against an estimated market growth of three to four per cent - due mainly to lower throughputs in the automotive sector. Despite the airfreight result, the Switzerland-based global logistics player saw group consolidated profit ...
-
News
Freight bounce for Air Partner
UK-based aviation charter specialist Air Partner saw full year group revenues fall 9.2 per cent to £192.1m and underlying profit before tax down from £4.1m to £2.6m for the twelve months ended January 2015.However, investment in the freight division “has started to show returns with excellent improvements in sales and ...
-
News
TNT air fleet purchasers waiting in the wings
FedEx has already identified potential purchasers of TNT Express’ air operations, says FedEx chief executive David Bronczek.He was speaking at a press conference to announce US-based FedEx’s $4.8bn takeover of European rival TNT Express in a deal set to complete in 2016, subject to regulatory approval.However, it is not yet ...
-
News
Airfreight helps lift Kuehne + Nagel
An airfreight surge at the start of 2015 helped freight forwarder Kuehne + Nagel (K+N) to a two per cent improvement in group earnings to SFr153m for the first quarter of 2015.Airfreight volumes were up 6.7 per cent to 304,000 tonnes compared with the same period last year, said the ...
-
News
FedEx and TNT confident that any regulatory issues can be overcome
Express parcel players FedEx and TNT Express are “confident” that any anti-trust issues around the $4.8bn acquisition of TNT by FedEx can be "addressed adequately in a timely fashion”.In January 2013, US parcels company UPS withdrew its takeover bid for TNT Express after the deal was blocked by European Commission ...
-
News
FedEx set to buy TNT Express for $4.8bn
US parcels and logistics giant FedEx has made a $4.8bn bid to acquire rival operator TNT Express of the Netherlands, with both sides reaching a conditional agreement on the deal.The agreement recommends an all-cash offer by FedEx for all issued and outstanding ordinary shares, including shares represented by American Depositary ...
-
News
Airfreight helps lift Hellmann UK
Airfreight was a star performer in Hellmann Worldwide Logistics UK’s strong end of year results, said the forwarder.Volumes had gained from specialist project business and airfreight revenue was up by 19 per cent on last year’s figures. Shipments increased by seven per cent.Managing director Andy Connor commented: “We’re looking to ...
-
News
Agility's 2014 airfreight yields improve
GLOBAL forwarder Agility’s full-year 2014 financial results saw a net profit of KD50.9m, an increase of 10 per cent over prior year, as revenues edged down one per cent to KD1.36bn.Agility’s airfreight yields improved in 2014, offsetting continued margin pressure in ocean freight.Tarek Sultan, Agility’s vice chairman and chief executive, ...
-
News
Munich airport's record tonnages
Southern Germany’s Munich airport saw total 2014 cargo volumes increase eight per cent over prior year to a record 291,000 tons.When airmail is included, the cargo volume handled at the Bavarian hub exceeded 309,000 tons, with 85 per cent being bellyhold cargo on intercontinental flights.Michael Kerkloh, chief executive of airport ...
-
News
TransDigm completes Telair acquisition
Aerospace components firm TransDigm Group has completed the acquisition of the Telair Cargo Group of businesses, owners of the Nordisk airfreight container manufacturing company.The $725m purchase from AAR Corp was financed by TransDigm through a combination of existing cash in hand and via an existing $75m revolving credit ...
-
News
Second half surge boosts Cathay Cargo in 2014
Cargo's stronger second half in 2014 helped Cathay Pacific Group report a 20.2 per cent surge in attributable profit to HK$3.1bn for the full year.Group turnover in passenger and freight increased by 5.5 per cent to HK$106bn. Cargo revenues increased by 7.3 per cent to HK$25.4bn compared with 2013.Cathay, which ...
-
News
Heathrow rediscovers the regions
Heathrow has announced a package of measures to boost links between the UK regions and to reverse “a lost decade” in which regional connections to long-haul markets have been squeezed out of the UK’s hub airport.The owners of London’s main gateway admit that, at the moment, Amsterdam Schiphol airport has ...
-
News
MASKargo boss resigns
MASKARGO boss Mohd Yunus Idris has resigned as the company’s chief executive officer.Unconfirmed local press reports suggest that poor ground handling standards and complaints from forwarders may have triggered the resignation, but a spokesperson for MASKargo said: "His decision to leave has nothing to do with what was reported".The country’s ...