Finance – Page 46
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Africa: Swissport Ghana starts operations
Ground and cargo handling company Swissport International has announced the operational start of Swissport Ghana, an equally-owned joint venture company with Ghana Airport Cargo Centre (GACC).Swissport Ghana will offer cargo warehousing and ramp handling at a cargo warehouse currently under construction next to the airside of Kotoka International Airport in ...
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CBI: air freight's vital role for UK business
UK business chiefs have called for “urgent action” by politicians to make key decisions on future UK airport infrastructure for passenger and cargo.“Action is needed to boost the UK’s air links and put growth on a sustainable long-term footing,” according to a new report by the CBI, which represents 190,000 ...
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July uptick for air cargo revenues
Transpacific air cargo registered a 25 per cent revenue growth in July, as global freight revenues rose almost nine per cent versus prior month 2013.Latest analysis from Netherlands-based research house WorldACD found that global volume in July increased six per cent year on year, accompanied by a US$-yield improvement of ...
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Air freight volumes show solid gains
Air freight volumes continue to show solid gains on a year ago, supported by economic improvements in some regions, says IATA in its latest quarterly cargo chartbook.But high jet fuel prices and overall weakness in yields have kept cargo financial performance from improving so far this year, adds IATA.“Emerging Asia ...
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December's dollar yields dip
Air freight volumes continued to rise in December but exchange rate and fuel surcharge fluctuations saw a 2014 end of year fall in dollar-based yields, according to research house WorldACD.December’s healthy year-over-year (YoY) volume growth continued 2014's trend, as chargeable weight increased 6.7 per cent, said the Netherlands-based analyst which ...
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Air France-KLM half year results
ON A long flightpath to financial recovery, Air France/KLM grew its half-year 2014 group revenues by one per cent to €12bn, a statement reveals.A strict capacity-management discipline is being used to balance supply and demand and improve productivity at the loss-making merged European carrier.This strategy is particularly relevant to its ...
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SIA cuts Q1 cargo loss to S$18 million
Singapore Airlines’ cargo division halved its first quarter loss to S$18 million in the financial year first quarter, after it was better able to match capacity with demand.SIA Cargo recorded lower revenue in three-month period ended June 2014, despite a 0.9 per cent improvement in yield, as the air freight ...
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Subdued half year for Lufthansa
Lufthansa’s group cargo volumes fell 3.1 per cent in the first six months of 2014 to 932,000 tonnes in a “subdued” freight market for the German carrier’s airline businesses which include Lufthansa Cargo, Swiss and Austrian Airlines.In its half-year financial review, Lufthansa said: “The global cargo business was more subdued ...
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IAG Cargo results reflect capacity switch
IAG Cargo's revenue fell 9.8% in the first half of 2014 to €488 million as volumes edged down 3.3 per cent to 441,000 tonnes, figures which reflect the ending of a long haul freighter leasing programme in April.The freight arm of British Airways and Iberia terminated its agreement with Global ...
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Atlas 'encouraged' by market volumes
Atlas Air Worldwide Holdings has presented an upbeat market volume outlook after announcing a second quarter net income of $29.6 million, compared with $20.1 million in same period last year.William Flynn, president and chief executive of the US-based aircraft leasing company, said: “We are off to a good start in ...
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Cathay warns on market overcapacity
Cathay Pacific has warned about continued overcapacity in the cargo market despite the Hong Kong-based group notching a 3.4 per cent rise in freight revenue to HK$11.6 billion in the first half 2014.In a results statement Cathay said of its cargo business: “Overcapacity in the industry remains a major concern ...
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IAG Cargo: open to opportunities
FRESH from signing its block space programme on Qatar Airways freighters, IAG Cargo is prepared to “explore other opportunities” in terms of carrier partnerships.Steve Gunning, chief executive of the British Airways and Iberia cargo arm, says that the deal with Qatar Airways - sharing five-weekly B777F flights from Hong Kong ...
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ATSG' revenue uptick
A boost in US military contracts and aircraft maintenance services saw aircraft lessor Air Transport Services Group (ATSG) record an eight per cent rise in revenues to $149.6 million for the 2014 second quarter.Joe Hete, president and chief executive of US-based ATSG, said: “The second quarter provided strong evidence of ...
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Etihad will bring Alitalia back to profitability by 2017
JAMES HOGAN, president and chief executive of Etihad Airways, has announced that the carrier has spent €560m to acquire its 49 per cent equity stake in Alitalia, writes Thelma Etim, deputy editor.Under the deal, which will result in €1,758m of investment and includes restructuring the Italian carrier’s debt, the Middle ...
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Cargojet revenue rise
Canada-based Cargojet saw 2014 second quarter revenues up 3.7 per cent to C$44.3 million, due primarily to the increase in core overnight volumes and higher ACMI income.Cargojet provides time sensitive overnight air cargo services and operates a network across North America, as well as global air charters.President & chief executive ...
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IAG Cargo releases 2014 "strong results"
A change in freighter capacity saw IAG Cargo record a 7.5 per cent fall in commercial revenue to €992m for full year 2014, but a like for like rise of 2.4 per cent.The decrease in flown revenue plus fuel surcharges reflects IAG Cargo’s decision in May last year to switch ...
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Avianca Q2 cargo surge
Avianca’s cargo capacity programme led to a 6.6 per cent rise to $212.3 million in 2014 second quarter freight and associated revenues.The Colombian national passenger carrier, with a freighter fleet of four B767-300Fs and one A330-200F, reported improved capacity utilisation and organic growth for the April to June period.Its cargo ...
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LATAM’s World Cup cargo woes
REDUCED cargo demand during the football World Cup in Brazil contributed to LATAM Airlines Group’s net loss of US$58.9m in the second quarter of 2014, writes Thelma Etim, deputy editor.Cargo revenues decreased by 12.7 per cent during the first six months of the year, as the group reduced capacity by ...
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Qantas Freight earnings in freefall
THE SALE of road freight company Star Track Express amid ‘challenging global air cargo markets’ pushed down Qantas Freight’s (QF) earnings before tax and interest (EBIT) by more than a third in the financial year of 2014, writes Thelma Etim, deputy editor.The Australian flag carrier’s cargo division recorded EBIT dropped ...
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Is Cargolux’s unique culture strong enough?
HOW do you measure the value of esprit de corps within a company? Since it is an intangible by-product of work satisfaction and team commitment, and its existence cannot be measured on a spreadsheet, it therefore cannot be proven to have any direct correlation with an entity’s overall performance.Or can ...