Finance – Page 22
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News
CH Robinson: overall solid performance masks modal differences
Third-party logistics provider CH Robinson achieved net revenue of USD695.2m during the second quarter of 2019, up 3.5% year-on-year, in what chief executive Bob Biesterfeld described as a "solid performance".However, a breakdown according to different business areas reveals a mixed picture. While the strength of CH Robinson’s North American trucking ...
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Forwarders move into finance
Freight forwarders are trading air cargo derivatives in an effort to offset the volatility of the spot market during the low season, according to Freight Investor Services (UK) – FIS.Since FIS launched the Air Freight Forward Agreement (AFFA) market in July, several leading forwarders have been using futures to hedge ...
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SIA volumes fall amid global economic uncertainty
Following a disappointing performance in June, Singapore Airlines (SIA) saw its freight traffic decline during the first quarter of its 2019/20 financial year against a backdrop of weakening global demand.Cargo and mail carried during April–June amounted to 307,700 tonnes, down 3.3% on the same period of 2018. Traffic as measured ...
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NewsPresident and CEO of Swissport International AG extends contract to 2020
Eric Born, president and CEO of Swissport International AG, has agreed to extend his contract of employment by one year.Born, who has been serving as the president and CEO since August 2015, was initially due to leave Swissport International AG at the end of 2019. However, due to the refinancing ...
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NewsLufthansa Cargo profits decline in first half of 2019
Lufthansa Cargo's profits declined in the first half of this year, a report from the company reveals.First-half year adjusted earnings before interest and taxes (EBIT) for Lufthansa's Cargo logistics segment declined to EUR15 million (prior-year period: EUR127 million), as a result of falling demand on routes between Europe and Asia. ...
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Asia Pacific cargo volumes continue to decline
According to the Association of Asia Pacific Airlines’ (AAPA) figures for June, air cargo volumes have declined for the eighth consecutive month.Air cargo markets in June weakened with the fall in global new export orders. Airlines in the Asia Pacific region recorded a 7.2% year-on-year fall in air cargo demand ...
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NewsFlexport launches trade finance solution
Flexport is launching a trade finance solution that it claims will help companies alleviate capital constraints caused by the US-China tariffs.Flexport said that because all client shipments are managed on its digital platform, with data down to the SKU level, it views risk differently than a bank would because it ...
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NewsK+N airfreight volumes fall 5.8% in first half 2019
Kuehne + Nagel (K+N) saw first half 2019 airfreight volumes fall 5.8% to 813,000 tons, blaming “stagnating markets” in some key industries and an “under pressure” global air cargo sector hit by growing trade barriers.At SFr174m, K+N’s airfreight division saw its EBIT down by 4.4% compared to the 2018's like ...
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NewsPanalpina sees airfreight increase despite competitors targeting its customers
Panalpina recorded an increase in airfreight volumes in the first half of the year despite competitors targeting its volumes and the overall market downturn.The freight forwarder recorded a 5% year-on-year increase in first-half airfreight tonnage to 512,000 tonnes thanks to acquisitions, while air revenues declined by 2.6% to SFr1.5bn and ...
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News
New offices drive Air Partner’s freight growth
Air Partner’s Freight division has reported record profits of £4.9m, up 45.3% for the year ended 31 January 2019, accounting for 13.8% of the global aviation services group’s overall gross profit.Over the course of the last financial year, the group has expanded its team in Turkey and established a new ...
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NewsKuehne + Nagel issues CHF 400m inaugural bonds
Kuehne + Nagel International AG has issued two inaugural bonds for a total of CHF 400m in the ordinary course of financing. The proceeds of both bonds will be used for general corporate purposes.The company says first bond has a fixed coupon of 0.02% and a tenor of 3 years ...
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News
IATA: airline profits fall further
The March/April Airlines Financial Monitor from IATA notes “a further fall in aggregate profits for the airline industry” for the first quarter of 2019, in comparison with the same three months of last year.Overall, IATA said the EBIT margin in its sample of 20 airlines had fallen to 3.6% from ...
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News
Agility sees profits, revenues and airfreight increase
Kuwait-based logistics and infrastructure firm Agility saw revenues and profits increase during the first quarter of the year despite a slowing growth environment.First-quarter revenues at the company increased by 1.9% year on year to KD378.8m ($1.2bn), while ebitda was up 22.8% to KD46.3m and net profits imporved by 7.3% to ...
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NewsSouth America and Africa boost IAG Cargo in tough Q1
IAG Cargo managed to record an increase in airfreight traffic in the first quarter despite an overall market decline, although revenues for the period were down.IAG's cargo division saw cargo traffic increase by 2.6% year on year to 1.4bn cargo tonne kms, while revenues decreased by 0.4% on a year ...
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NewsSwissport's 'excellent' 2018 saw cargo revenues up by 6.5%
Swissport reported an “excellent year” in 2018 as the ground handler saw total group revenues surge by 6.7% to just under €3bn, with revenues in air cargo handling rising by 6.5% to €560m.The Switzerland-based company, whose parent is China’s HNA Group, recorded 2018 operating EBITDA of €273.2m, an increase of ...
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NewsDHL sees airfreight volumes slide but rates boost revenues
DHL Global Forwarding saw its airfreight volumes decline for the fifth quarter in a row in the first three months of the year, but profits at its air division increased as rates improved on a year ago.The Deutsche Post-owned freight forwarder reported a 4.2% decline in airfreight volumes during the ...
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NewsEmirates' annual cargo volumes edge ahead despite "significant headwinds"
Dubai aviation giant Emirates Group faced "significant headwinds" in global airfreight during the 2018-19 financial year which saw its airline record a 1.4% rise in airfreight volumes to just under 2.7m tonnes.The Middle East group's cargo handling arm dnata saw near static volumes in 2018-19, edging ahead just 0.3%, to ...
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ATSG boosted by Omni, Amazon and DHL
ATSG saw revenues increase by 71% in the first quarter of the year thanks its purchase of Omni Air while it expects a further boost from expanded contracts with Amazon and DHL.The aircraft lessor and operator saw first quarter revenues reach $348m, while earnings from continuing operations increased by $7m ...
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News
Atlas sees revenues grow on increasing demand
Atlas Air Worldwide Holdings (AAWW) saw adjusted profits increase in the first quarter of the year as a result of increasing customer demand.The aircraft lessor and operator reported first-quarter operating revenues of $680m, while adjusted income for the period was up 14.7% to $27.3m and adjusted earnings before interest, tax, ...
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NewsProfits tumble at Lufthansa's cargo business
Lufthansa’s cargo and logistics segment saw operating profits tumble in the first quarter as volumes declined and expenses increased.Lufthansa’s logistics segment, which includes Lufthansa Cargo and other businesses such as time:matters and Jettainer, saw first-quarter revenues decline by 4% year on year to €616m while earnings before interest and tax ...