All Business Articles – Page 26
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News
Lufthansa Group and MSC make joint bid for ITA Airways
German airline Lufthansa has submitted a joint bid with Switzerland-headquartered shipping firm Mediterranean Shipping Co. (MSC) for a stake in Italian airline ITA Airways, according to media reports.Air Cargo News first reported that the MSC Group aimed to work with Lufthansa to acquire a majority stake in ITA in January.In ...
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World Star Aviation buys 30 B737-400Fs
Aircraft leasing company World Star Aviation has completed the purchase of 30 Boeing 737-400F aircraft with leases attached.The aircraft portfolio is spread across 10 lessees in 12 countries worldwide, said World Star Aviation in a LinkedIn post.It added: “This new acquisition reinforces the continued strategy of expanding and diversifying our ...
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NewsEmirates SkyCargo volumes continue to recover as revenues soar
Emirates SkyCargo saw its volumes continue to recover in the 2021/2022 financial year while revenues continued to beat pre-Covid levels.For the 12 months ending March 31, Emirates SkyCargo saw its revenues increase by 26.6% year on year to AED21.6bn, which was also higher than the AED13.1bn registered in pre-pandemic financial ...
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Airfreight rates to continue to rise despite easing demand?
The current easing of the airfreight market may only be a temporary blip and rates could rise further once lockdowns in China are lifted, according to Bruce Chan, senior analyst at investment bank Stifel.In the latest Baltic Exchange market round-up, Chan said that despite a year on year drop in ...
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ATSG revenues up in Q1 2021 fuelled by e-commerce demand
US lessor Air Transport Services Group (ATSG) reported revenues of $486m for the first quarter of 2022, up 29% compared with the first quarter of 2021.ATSG said adjusted EBITDA was $158m, up 49% from the first quarter of 2021. Full year 2021 revenues were $1.73bn, up 10% year on year.The ...
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Atlas Air revenues improve despite volume decline
Atlas Air Worldwide reported improvements in revenues during the first quarter of the year despite a decline in volumes.The freighter lessor and operator saw first-quarter revenues increase by 20% on last year to $1bn, adjusted earnings before interest, tax, depreciation, amortisation (ebitda) increased 11.9% to $202,814 but net income dropped ...
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Pharma and express bolsters Air France-KLM Q1 cargo revenues
Pharma and express deliveries and higher market prices have helped Air France-KLM Group’s total cargo revenues in the first quarter of 2022 hit €910m, an increase of 8.5% since the first quarter of 2021.This increase in revenues is fully driven by a higher yield thanks to the focus on Pharmaceutical ...
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NewsDisruption continues to hit air cargo as volumes drop again in April
The air cargo industry continues to be buffeted by a range of issues that resulted in volume declines deepening in April, according to figures from CLIVE Data Services.The Xeneta-owned data provider's latest numbers show that air cargo volumes decline by 8% year on year in April following on from a ...
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Airfreight rates begin to rise in April
Airfreight rates on major east-west trades began to creep back up in April following the previous month's decline, as demand began to rise in line with seasonal trends.The latest figures from the Baltic Exchange Airfreight Index (BAI) show that in April the average rate from Hong Kong to North America ...
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Maersk completes acquisition of Pilot
Shipping giant AP Moller Maersk has completed its acquisition of US forwarder Pilot Freight Services in a deal worth $1.7bn.As a result of the acquisition, international and domestic supply chain provider Pilot Freight Services will be rebranded to Pilot – A Maersk Company.The transaction price of $1.7bn equals to an ...
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DHL airfreight volumes edge up but revenues fly
DHL Global Forwarding saw its airfreight revenues jump in the first quarter of the year despite volumes increasing by a much lower amount.The forwarder's airfreight business saw revenues increase by 55.% year on year to €2.9bn. Gross profits improved by 10% to €488m but volumes were up by just 3% ...
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DSV and K+N outline a complex market with higher rates to continue
Kuehne+Nagel (K+N) and DSV highlighted a complex logistics market in their recent quarterly updates, with higher freight rates to stay, softening consumer demand and ongoing supply chain disruption.K+N was the first to reveal its results, with revenues and profits continuing to surge on the back of acquisitions on higher prices ...
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DSV gross profit grows 61% in Q1 2022 bolstered by air and sea freight
Freight forwarder DSV reported gross profit grew 61% in the first quarter of 2022 with the Air & Sea division achieving an EBIT growth of 109%.The Air & Sea division’s revenue amounted to DKr45,887m for the first three months of 2022, compared to DKr22,924m for the same period last year.For ...
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Cargo-partner buys UK partner as it expands in western Europe
Logistics firm cargo-partner has fully acquired its UK-based partner, Aztek International Freight, following its purchase of a third of the company in 2021.The move will add two new offices to the cargo-partner network, in East London and Bradford, in addition to the company's existing office in Manchester, and continues the ...
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NewsWorldACD: Air cargo demand flat in Q1 as lockdowns take their toll
Air cargo demand was flat in the first quarter of the year as Russia's invasion of Ukraine and lockdowns in China put the breaks on growth.Figures from data provider WorldACD show that chargeable weight transported by air cargo increased by 2% year on year in January and February but then ...
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Profits continue to soar at Kuehne+Nagel in Q1
Kuehne+Nagel (K+N) saw its overall and airfreight profits continue to soar in the first quarter of the year as supply chains remained under pressure and demand continue to improve.The forwarder reported an increase in airfreight revenues of 91% year on year to SFr3.1bn on the back of a 32.6% increase ...
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Cargo revenues continue to surge at American in Q1
American Airlines saw its cargo revenues increase again in the first quarter of the year after a record performance in 2021.The Dallas Fort Worth-hubbed carrier reported cargo revenues of $364m in the first quarter, an increase of 15.4% compared with a year earlier on the back of improved yields.The increase ...
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Shanghai factories to restart production but supply chain issues continue
Factories in the Shanghai area are slowly returning to production in a closed-loop system but supply chain disruption is expected to continue for some time.Companies were last week asked to submit plans to stop of the spread of Covid-19 before they could re-start production.In total, 666 companies have been white ...
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NewsVirgin Atlantic Cargo revenues soar in 2021
Source: Virgin Atlantic CargoVirgin Atlantic Cargo saw its revenues more than double to record levels in 2021 as it ramped up cargo flying and airfreight rates hit new highs.The UK-headquartered airline saw its revenues increase by 40% year on year to £448m, while it was up by 200% compared with ...
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Kuehne ups his stake in Lufthansa
Kuehne+Nagel majority owner Klaus-Michael Kuehne has doubled his stake in German airline Lufthansa to 10%.In a stock exchange note, the airline revealed that German national Kuehne's KA Logistik Beteiligungen made the investment on April 8.He is now the second largest shareholder in the airline behind the German state, which owns ...