All Business Articles – Page 32
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Cargojet continues international expansion with 21Air investment
Cargojet has invested in a minority share of US freighter operator 21Air as it looks to grow internationally.Cargojet will acquire a 25% interest in 21Air and will "continue to collaborate with 21Air on mutually beneficial opportunities in this expanding air cargo market".21Air is certified by the US Federal Aviation Administration ...
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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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Atlas Air revenues driven up by higher rates and volumes in Q2
Freighter operator Atlas Air Worldwide has achieved increased revenues and net income in the second quarter of this year – due to higher rates and the “significantly improved” performance of its Airline Operations division.In its second-quarter 2021 results, the freighter operator recorded a 20% year-on-year increase in revenues to $990.4m. ...
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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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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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NewsWorldACD: Cargo volumes return to 2019 levels in first half
Cargo volumes were back at 2019 levels in the first half of the year while revenues remained far above the levels of the last two years.The latest statistics from analyst WorldACD show that cargo volumes - in chargeable weight - in the first half of the year were at the ...
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CEVA targets Latam perishables with Cargex takeover
CEVA Logistics has signed an agreement to purchase all shares in Colombian freight forwarder Cargex as it looks to expand in the Latam region.The Bogotá-headquartered firm has been established for more than 25 years and its primary focus is export management of perishable goods.The company has operations in Bogotá, Medellin, ...
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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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NewsAAPA: Asia Pacific air cargo market "resilient" in June
The Asia Pacific region's air cargo market has remained resilient — a contrast to the "suppressed" passenger market, according to the Association of Asia Pacific Airlines (AAPA).AAPA's preliminary June 2021 air traffic figures show that international air cargo demand for Asia Pacific-based carriers, measured in freight tonne km (FTK), increased ...
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NewsBUD achieves record cargo volumes in H1 2021
Image source: BUDBudapest Airport (BUD) has achieved record cargo volumes in the half of 2021.From January to June this year, the hub handled 86,798 tonnes cargo — a 36% year-on-year increase on the same period in 2020.BUD also noted that from June 2020 to June 2021, its Cargo City handled ...
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NewsTakeOff Cargo: Forwarder charter operations expected to continue
Forwarder charter operations are expected to continue to the main airport hubs as part of efforts to provide service stability.Speaking at the TakeOff Cargo event, which is taking place this week, industry leaders discussed the changing air cargo market.In one discussion moderated by Steven Polmans, chairman of TIACA, Joachim von ...
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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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NewsCLIVE: Air cargo back on track for recovery
Source: CLIVE Data ServicesAir cargo demand returned to growth in June following a drop in May as a result of public holidays.The latest statistics from CLIVE Data Services show that air cargo demand in June increased by 1% compared with the same month in 2019 (used for comparison due to ...
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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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Kuehne+Nagel sells minority stake in Apex
Kuehne+Nagel has agreed to sell a 24.9% stake in recently acquired Apex International to private equity firm Partners Group.The forwarder said that following the deal, it will work alongside Partners Group to implement a "transformational value creation plan" for the China-based forwarder with key initiatives including establishing new freight forwarding ...
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NewsWorldACD: Air cargo demand on the up but with regional variances
Air cargo demand continues to track in line with 2019 levels but regional performance is mixed, according to WorldACD.The data provider's latest numbers show that air cargo demand in chargeable weight was in May around 1% below 2019 levels — used for comparison given Covid's impact in 2020 — and ...
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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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Seko Logistics notes clients "pivoting" between sea and air capacity
Seko Logistics has said many of its manufacturer clients are "pivoting" between seafreight to airfreight and "leveraging air capacity as an option when they can".The logistics provider said growth in cross-border e-commerce is increasingly pushing manufacturers to use airfreight, as seafreight capacity struggles to cope with pressure.The company also noted ...