Finance – Page 14
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News
Quarterly cargo revenues on the rise at Delta Air Lines
Delta Air Lines saw cargo revenue increase in the third quarter of 2021 to $262m, a 39% improvement compared with the benchmark September quarter of pre-Covid 2019.The US carrier said that cargo revenue continues to improve on yield strength, adding that the latest result represents the fourth consecutive quarter of ...
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DSV upgrades financial outlook for 2021 amid strong sea and air growth
A strong first half performance in sea and air freight that continued into the third quarter has seen Danish mega-forwarder DSV upgrade its 2021 financial outlook.A company announcement stated: “The positive development in the first half of the year has continued into Q3 2021, and we have seen strong financial ...
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DP DHL's profits expected to continue to surge
Deutsche Post (DP) DHL's third quarter preliminary results show another boost in earnings before interest and tax (ebit).The express and postal giant said that its ebit is expected to reach €1.8bn in the third quarter, up from €1.4bn for the same period in 2020.Over the first nine months of the ...
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Qatar Cargo sees volumes increase despite pandemic
Qatar Airways Cargo reported a 4.6% in cargo volumes in the fiscal year ending March 31 despite the loss of much of its bellyhold network due to the pandemic.The cargo division of Qatar Airways handled a total of 2,727,986 tonnes of cargo in the 2020/21 fiscal year to maintain its ...
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ACS reports record sales as cargo charters soar
Air Charter Service (ACS) reported record sales last year as demand soared at the broker's cargo division as a result of Covid-19.The company, which has just reported its latest annual financial results, saw sales reach $1.2bn for the financial year ending January 31 with all three division - private jets, ...
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NewsBaxter Freight aims for expansion after strong first half
Source: Baxter FreightBaxter Freight will continue its recent recruitment drive after reporting an increase in revenues at the half-year point.The Nottingham UK-based logistics firm saw revenues reach £12.9m in the first half, up from £7.7m a year ago. For the full year, the company expects revenues to reach £28m against ...
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Etihad Cargo revenues offset "dip" in passenger in H1 2021
Etihad Airways's half-year cargo revenues offset a "dip" in passenger operations, as it continues to make a "progressive recovery" in the wake of the pandemic.The group's cargo division posted a 56% year-on-year increase in revenues to $800m.This achievement was driven by a 44% year-on-year increase in freight carried in the ...
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Crew quarantine measures hold back Cathay Pacific Cargo in H1
Hong Kong quarantine restrictions took their toll on Cathay Pacific's first-half performance with revenues and volumes all declining compared with a year earlier.The airline saw its first-half cargo revenues decline by 0.6% on last year to HK$11.1bn, while cargo revenue tonne kms (RFTK) were down 20.1% to 3.3bn and the ...
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ATSG to add first A330s as demand for mid-sized freighters soars
ATSG has secured conversion slots for A330 freighters as it continues to expand its mid-sized freighter options.While announcing its second-quarter results, the lessor said that it had secured 20 conversion slots for A330 freighters.Until now, the company has operated with a fleet of Boeing freighters. However, the company recently announced ...
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Lufthansa Cargo optimistic for the future after positive Q2
Lufthansa's cargo business recorded improvements in revenues, profits and volumes in the second quarter as it benefited from higher rates.The airline group's logistics segment, which includes Lufthansa Cargo, time:matters, Jettainer and an equity investment in AeroLogic, saw second-quarter revenues increase by 13% on last year to €766m, while earnings before ...
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DHL's airfreight volumes take off in Q2
DHL Global Forwarding saw its airfreight volumes improve by double-digit percentage levels in the second quarter on the back of tight capacity and improved demand.The Deutsche Post (DP) DHL-owned forwarder reported a 9% year-on-year increase in second quarter airfreight revenues to €2bn on the back of a 35.7% improvement in ...
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A record H1 for Geodis in 2021
Logistics provider Geodis has achieved record half-year (H1) revenues and ebit in the first six months of this year — driven by growth in intercontinental transport and increased e-commerce demand in the US and Europe.In its 2021 half-year financial results, the company posted revenues of €4.9bn — a 21% year-on-year ...
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DB Schenker sees airfreight bounce back
DB Schenker saw its airfreight business bounce back in the first half of the year as its volumes increased by more than 40% thanks in part to an expanded charter network.The Deutsche Bahn-owned forwarder saw its first-half airfreight volumes increase by 43.8% year on year to 712,100 tonnes led by ...
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IAG Cargo volumes continue to recover in the second quarter
IAG Cargo saw its revenues and volumes improve in the second quarter of the year but demand still lags pre-covid levels.Revenues for the period grew by 13.6% year on year to €419m, while cargo tonne kms (CTK) improved by 72.8% on last year to 999m and tonnes carried increased 55.8% ...
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DSV Panalpina posts increased H2 revenues as Agility GIL acquisition continues
DSV Panalpina has reported increased revenues and operating profits (ebit) in its interim half-year 2021 financial results.The forwarding giant, which started the process of acquiring Agility Global Integrated Logistics (GIL) earlier this year, said its performance was "driven by 18% growth in gross profit and a high productivity across all ...
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K+N's air division earnings boosted by Apex deal
Forwarder Kuehne+Nagel (K+N) has more than doubled its earnings in the first half of 2021.The company said that "continued recovery of the global economy led to strong demand for logistics services", which in turn helped it to achieve group net turnover of CHF13.3bn — 35% higher than the same period ...
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DP DHL ups forecast as it expects record Q2 profits
Deutsche Post (DP) DHL has reported record operating profits in its preliminary second-quarter results and upped its outlook for the year.The logistics and postal giant said its preliminary operating profit (ebit) for the second quarter has reached a record level of €2.1bn compared with €912m on last year.The company said ...
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FedEx to add freighters and boost spending to meet demand
FedEx will boost spending over the coming year and add more freighter orders to meet growing e-commerce demand.Announcing its results full-year results for fiscal year ended May 31, the express giant said it expected to spend around $7.2bn in FY 2022 compared with around $5.9bn last year.Meanwhile, FedEx will exercise ...
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Cargo the bright spot for Emirates as it notes first loss in more than 30 years
Cargo revenue was the bright spot for the Emirates Group, which revealed its first loss in over 30 years in its financial results for 2020-2021.The carrier recorded an annual loss of AED22.1bn (US$6.0bn) due entirely to the effect of the Covid pandemic which led to wholesale withdrawal of flights and ...
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NewsDHL Global Forwarding sees airfreight revenues and profits soar in Q1
Deutsche Post DHL Global Forwarding has reported large increases in its airfreight revenues, profits and volumes in the first quarter as higher demand and lower capacity benefited the company.The forwarder, which could this year lose its status as the airfreight market leader due to Kuehne+Nagel's plans to acquire Apex, saw ...