Finance – Page 29
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News2017 ends on a high for Air France KLM Cargo
Air France KLM Cargo (AF KLM) ended the year on a high as quarterly revenues reached their highest level since 2016.The Franco Dutch airline saw fourth-quarter 2017 cargo revenues reach €583m, up 6.8% year on year. This is the highest quarterly level since the fourth quarter of 2016.For the full ...
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New funding to boost JD.com’s logistics arm
Chinese e-tailer JD.com has signed an agreement with a number of investors to take a minority stake in its JD Logistics network.JD.com will remain the majority shareholder with an 81.4% shareholding in its logistics arm when the deal, which is expected to raise about $2.5bn, closes in the first quarter ...
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Ceva Logistics: going public in April?
US financial press reports suggest that supply chain management company Ceva Logistics may go public in April.Sources told the New York Post that an initial public offering of “roughly $1.5bn” is expected – which would make the company the second-biggest IPO of the year (after Brazil’s PagSeguro Digital payment services ...
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FedEx trumpets $1.5bn investment in Indianapolis hub
FedEx is to investing $1.5bn to "significantly expand" the FedEx Express Indianapolis hub over the next seven years as part of a three-pronged pay, pension fund and infrastructure investment package outlined today.The US parcel and logistics giant's Memphis SuperHub will also be modernised and enlarged in a major programme, the ...
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NewsCargo the star performer for American Airlines
Cargo was the star performer for American Airlines in 2017 as revenues increased at a double-digit percentage pace on the pack of demand and yield improvements.The Dallas-headquartered airline registered a 14.3% year on year increase in cargo revenues to $800m on the back of a 15% jump in traffic to ...
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Swissport to seek IPO and listing on SIX Swiss Exchange
Swissport Group is to seek an Initial Public Offering (IPO) and listing of its shares on the SIX Swiss Exchange.Swissport's sole shareholder, China’s HNA Group, is expected to retain a long-term strategic shareholding following the IPO.The Switzerland-based global leader in ground handling and cargo services will continue to function as ...
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Air Partner sees strong second half results for freight in broker division
UK-based aviation services group Air Partner has reported a "good second half" financial year for its broking division, including "strong results in the US and in freight".In a trading statement ahead of the end of its current financial year on January 31, the company said: "Air Partner is pleased to ...
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Lufthansa cargo capacity up by 3.3% in 2017
Lufthansa saw total group airlines cargo capacity (available cargo tonne-km) 3.3% higher in 2017 than in the previous year.Group cargo sales (revenue cargo tonne-km) in the January to December period increased by 7.4%, resulting in a load factor 2.7 higher percentage points than in 2016, reaching 69.3% for 2017.A full-year ...
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CAL Cargo wins online auction for last Jade B747 freighter
Israeli-owned freighter carrier CAL Cargo Airlines has confirmed that it purchased an ex-Jade Boeing 747-400ERF on China’s Taobao online auction platform.Offer Gilboa, owner of CAL-Cargo and Ace Aviation Services, commented: "I am very happy and proud that we have managed to win this bid.“This is a great new development for ...
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Liege Airport to invest more than €50m in cargo in 2018
Liege Airport will invest €30m in four new parking areas for large freighter aircraft next year, bringing 2018's total planned cargo investment to €50m at the busy Belgian hub.The announcement on additional freighter parking space follows November’s decision to provide a further 20,000 sq m of warehouses and handling facilities.“The ...
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Strong cargo growth will help airlines hike profits
IATA is forecasting a 4.5% rise in global cargo carried from 59.9m tonnes in 2017 to 62.5m tonnes in 2018 in its latest analysis, contributing to an improvement in overall airline profitability to $38.4bn compared with an expected $34.5bn this year.While the cargo growth foreseen is below the expected 9.3% ...
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West Atlantic in talks with potential ‘significant’ shareholders
West Atlantic is in “advanced discussions” with “parties who have shown serious interest in taking on a significant shareholding in the company”, said chief executive and president, Fredrik Groth in the Swedish cargo airline’s third quarter interim report.Admitting that the carrier – a major air network provider to several European ...
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Widebodies boost Aeroflot’s cargo takings
Aeroflot Group’s cargo revenue rose 37.2% year-on-year to RUB11.3bn as it added new wide-body aircraft to its fleet and cargo and mail volumes grew by 38.9%, it said in its financial report for the nine months ended September 30.Total revenue, including passenger, increased to RUB 404.7bn, up 6.2% year-on-year, it ...
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Airlander damage ‘substantial’ says Hybrid Air Vehicles
Hybrid Air Vehicles (HAV) has admitted that its Airlander 10 airship sustained “substantial damage” when it broke free from its mooring on November 18.The company, which is developing a new design of lighter than aircraft, said it would be making a claim for up to £32m, the maximum insured value.The ...
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Hurricane response helps boost ACS Q3 revenues
Broker Air Charter Service (ACS) saw revenues increase by 50% in the third quarter of the year, with growth across its three main divisions.The company reported total revenues of £144m for the third quarter with company growth and the response to hurricanes boosting performance.ACS group chief executive Justin Bowman said: ...
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LATAM cargo revenues in first rise for four years, but yields edge down
LATAM Airlines Group saw third quarter 2017 airfreight revenues rise by 2.5% to $272.2m, the first cargo revenue increase in four years.The revenue rise in the three months ending September was driven by a 3.5% increase in cargo traffic, although cargo yields “declined slightly” by 1.0% over same period prior ...
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Turkish Airlines third-quarter cargo results rocket up
Turkish Airlines moved 810,489 tons of cargo between January and September this year – an increase of 26.8% over the same nine months of 2016.The Far East, Europe and North America led the way in terms of rising volumes of cargo and mail carried, each with around 30% more than ...
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DHL forwarding's quarterly airfreight volumes up 8% as gross profit declines
Deutsche Post DHL Group (DP-DHL) registered positive results during the third quarter of 2017, with total revenue up 5.6% over like period last year, to €14.6bn.“We had a strong third quarter with record earnings yet again,” said Frank Appel, group chief executive of the Germany-based global mail and logistics company.“All ...
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SIA Cargo achieves massive turnaround
SIA Cargo, the freight arm of Singapore Airlines, has successfully turned the tables on its 2016-17 first-half loss of S$45m, posting an operating profit of S$32m for the same period of the 2017-18 financial year.The carrier attributed the result to higher volumes (up 6.1% year on year) as well as ...
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E-commerce leads Aramex profit growth
Middle East based forwarder Aramex said its net profits had increased by 13% in the third quarter of 2017 to AED 81.6m, up from AED 72.2m in 2016.Revenues in the third quarter, ending September 30, also increased 9% to AED 1,144m, compared to last year’s AED 1,050m. Were it not ...