All Business Articles – Page 35
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News
Positive cargo revenues for Cathay as group makes an overall loss
Hong Kong-based Cathay Pacific Group has highlighted the performance of its cargo division in its full-year 2020 financial results, as its overall performance was hit by the effects of the pandemic.The group posted an operating loss of HK$18.1bn last year; in 2019, it achieved profits of HK$3.4bn. Group revenues declined ...
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Amazon takes stake in ATSG
Amazon Air has taken a $132m stake in lessor and cargo aircraft operator Air Transport Services Group (ATSG).Amazon is exercising warrants that it has held since 2016 and 2018 to acquire 13.5m shares in the cargo airline, paying $9.73 per share, ATSG says in a filing with the Securities and ...
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Lufthansa Cargo expects a good 2021 and rates to ease in H2
The newly appointed chief executive of Lufthansa Cargo, Dorothea von Boxberg, is expecting another good year in 2021 but adds that rates are likely to cool in the second half.Lufthansa Cargo yesterday announced a record adjusted operating profit of €772m, more than double the previous record of €342m in 2010.The ...
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NewsIAG Cargo reports increased automotive demand
IAG Cargo has reported an increase in automotive traffic since the start of the year, predominantly with its airfreight charter service that was launched last year at the start of the pandemic.The carrier said it that this year it has already transported 8,000 tonnes of automotive parts, which suggests "a ...
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NewsLufthansa Cargo announces record profits and another B777F
Dorothea von Boxberg Credit: Lufthansa CargoLufthansa's air cargo business reported record operating profits last year and has also announced plans to add another Boeing 777 freighter to its fleet.The Lufthansa Logistics division, which includes Lufthansa Cargo, Jettainer, time:matters and its equity investment in AeroLogic, saw earnings before interest and tax ...
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NewsAir cargo makes recovery "that passenger departments will be dreaming of"
The latest data form CLIVE Data Services and TAC Index suggests that in the last 10 months, global air cargo volumes have recovered to pre-Covid levels, demonstrating the "robustness" of the market and "a recovery that airline passenger departments will be dreaming of".In its February 2021 report, analyst CLIVE Data ...
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Seko Logistics sets sights on growth in China
Following Seko Logistics' secured investment from Ridgemont Equity Partners, which was first reported by Air Cargo News in January, the logistics firm is planning to expand its presence in China.The company said expansion in China will help it to build on its airfreight and seafreight growth, which increased by 20% ...
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NewsChanging cargo trends keep Wallenborn busy
Jason BreakwellOnly a few months of 2021 has passed, but the year is already showing positive signs for road feeder services (RFS) business Wallenborn.Looking back on 2020, commercial director Jason Breakwell says volumes from March to December were around 10% higher than the previous two years. “This year has been ...
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Record B767 deployments boost ATSG in 2020
Aircraft lessor ATSG has achieved increased revenues for the full-year 2020 following a record number deployments of converted freighters.The Wilmington-headquartered company reported a 8.1% year-on-year increase in customer revenues to $1.6bn and a 9.5% year-on-year increase in adjusted ebitda to $497m.During 2020, ATSG achieved 11 deployments via external lease (and ...
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NewsAir cargo boosts K+N in 2020
Kuehne+Nagel's (K+N) airfreight business registered improvements in profits and revenues last year, while the overall business reported declines.K+N said that 2020 was characterised by a weak first and a strong second semester.The forwarder's airfreight business saw revenues for the year increase by 11.6% year on year to SFr5.2bn, gross profits ...
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Cargo remains the bright spot for Turkish Airlines in 2020
A strong rise in cargo revenues helped Turkish Airlines end 2020 with a profitable final quarter at an operating level, though the Star Alliance carrier still posted a net loss of $836m for the full-year.While the carrier’s passenger revenues slumped by two-thirds for the three months ended December 2020, to ...
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Interview: Virgin Atlantic Cargo - A changing landscape
Virgin Atlantic Cargo adapted quickly to freight-only flying last year. Managing director Dominic Kennedy tells Damian Brett about the challenges it faced and the opportunites that lie ahead.People often say they enjoy working in the air cargo industry because no two days are the same. However, when Virgin Atlantic Cargo ...
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Cargo-only PAX flights help IAG Cargo to achieve increased revenues in 2020
IAG Cargo has noted an increase in revenues and yields in its full-year 2020 financial results.The carrier achieved an 18.5% year-on-year increase in revenues to €1.3bn."Cargo helped to make longhaul passenger flights viable," said Luis Gallego, chief executive of parent company IAG.Meanwhile, yields climbed 94.6% and sold tonnes of capacity ...
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Work underway on new dnata Heathrow facility
Aberdeen Standard Investments’ Aiput fund has started construction of Phase II of dnata City East, a 117,000 sq ft extension of its Heathrow cargo facility.Full planning permission for the warehouse was granted in August 2020. The building will be operated by dnata, which also operates the nearby 250,000 sq ft ...
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NewsDachser ramps up capacity on Frankfurt-Chicago route
Dachser USA has added an extra weekly flight on its Frankfurt-Chicago route in response to market demand.The logistics provider initially launched the weekly Frankfurt-Chicago-Frankfurt air cargo service in July last year, as demand for pandemic-related supplies, such as PPE, increased.The additional weekly flight between Frankfurt and Chicago will be operated ...
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NewsApex acquisition set to make K+N the leading airfreight forwarder
Kuehne+Nagel (K+N) has entered into a binding agreement to acquire Apex International Corporation as it looks to expand its presence in Asia.Terms of the deal were not disclosed, but Reuters quotes people familiar with the matter as stating that the transaction is valued at around $1.5bn-$2bn.The deal is the largest ...
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NewsWorldACD: Air cargo demand on the up in January
Air cargo demand in January matched the performance of a year ago — the first month since the start of the pandemic not showing a year-on-year decline.Figures from WorldACD show that while demand was flat compared with a year ago, airfreight rates increased by around 75% year on year, although ...
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Atlas Air 2020 results "exceed expectations" due to historic volumes
Atlas Air Worldwide said its full-year 2020 operating results "exceeded expectations", thanks to "historic volumes" driven by e-commerce growth, as well as the requirements of businesses and communities during the pandemic.In its full-year 2020 results, the freighter operator achieved a 17.2% year-on-year increase in revenues — from $2.7bn in 2019 ...
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NewsGerman airfreight market registers 22% decline in 2020
Last year, in the wake of the coronavirus pandemic, global airfreight traffic fell by 10.6% year on year, according to IATA; this is the biggest decline since records began in 1990.But how did the year go for market participants in Germany? How did the top 10 airfreight forwarders and airlines ...
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Plans for Turkish Cargo to become subsidiary company confirmed
Turkish Airlines has confirmed plans for its cargo business to become a wholly-owned subsidiary of the overall airline.In his welcome speech at the Cargo Talks webinar, Ilker Ayci, chairman of the board of directors and executive committee of Turkish Airlines, highlighted the growth of the airline's cargo business last year.Ayci ...