All Business Articles – Page 4
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NewsExecutive team shuffle for SEKO
SEKO Logistics has announced several new senior appointments with the successful close of its previously announced recapitalisation
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NewsStonepeak takeover of ATSG to progress as 'go-shop' period expires
Photo: EFW Investment firm Stonepeak’s $3.1bn takeover of freighter aircraft leasing giant ATSG will move ahead following the expiration of a go-shop period. The two businesses entered into a definitive agreement for the deal in early November but this included a 35-day go-shop period, which came to ...
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News
UK and Dutch investors await approval to pick up Air Belgium’s freight operations
UK long-haul freight specialist Air One Holdings International and a Dutch firm, Peso Aviation Management, are looking to take over the cargo operations of struggling carrier Air Belgium. The two investors have submitted an offer to a business court which, according to Air Belgium, is set to issue a decision ...
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NewsAir cargo avoids crazy peak season despite continued growth in November
Source: Supakitswn/ shutterstock.com Air cargo demand continued to increase at double-digit percentage levels in November but the industry managed to avoid supply chain chaos despite the rapid growth. The latest figures from data firm Xeneta show that air cargo demand increased by 10% year on year in ...
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NewsReports: US approves Korean takeover of Asiana
Source: Thanhliemnguyen/Shutterstock The US has reportedly approved Korean Air’s takeover of Asiana Airlines, meaning the acquisition has now cleared its last regulatory hurdle. South Korea-based Maeil Business Newspaper said that according to industry sources, the US Department of Justice (DOJ) gave the green light for the acquisition ...
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NewsTariffs and trade barriers top supply chain leaders' concerns for 2025
Photo: Travel mania/ ShutterstockThe addition of tariffs and trade barriers is the top concern of supply chain leaders, according to a survey of supply chain leaders conducted by software firm Descartes Systems Group.Descartes' 2024 Supply Chain Intelligence Report: Escalating Challenges for Global Supply Chain Leaders found that 48% of respondents ...
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NewsEU approves sale of Asiana's cargo business to Air Incheon
Source: Thanhliemnguyen/Shutterstock The European Commission has approved the sale of Asiana Airlines’ cargo business to Air Incheon to enable Korean Air to move closer to acquiring Asiana Airlines. On February 13, the Commission approved the proposed acquisition of Asiana by Korean, but as part of this, Korean ...
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NewsNordic Aviation Group files for bankruptcy
Photo: Number1411/ Shutterstock Estonian Nordic Aviation Group has filed for bankruptcy and ceased operations of its two airlines, Nordica and Regional Jet, which is branded as Xfly. The announcement by Nordic follows the decision by potential investor Lars Thuesen, owner of Danish carrier Jettime, to not proceed ...
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NewsAir cargo capacity set to come under pressure in 2025
Ryan Keyrouse. Source: RotateNext year could see a lack of air cargo capacity as passenger aircraft additions ease, additional freighters are in short supply and e-commerce demand remains strong.Speaking at the Tiaca Air Cargo Forum last week, Rotate chief executive Ryan Keyrouse highlighted some of the issues the industry could ...
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NewsOIA Global acquires two Australian forwarders
Photo: stockphoto mania/ ShutterstockUS supply chain services company OIA Global is broadening its Australasian and Asia footprint with the acquisition of BTi Logistics and Airmark Ocean & Air Logistics.BTi Logistics is an Australian owned freight forwarding and third party logistics (3PL) company operating in Melbourne, Sydney, Brisbane, Auckland and Singapore. ...
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NewsAir cargo's "wait and see" approach to US tariffs and positive demand outlook for 2025
Source: Air Cargo NewsThe air cargo industry is taking a wait and see approach to the likely impact of potential new US tariffs and stricter regulatory requirements for e-commerce shipments.At the Tiaca Air Cargo Forum industry leader session, panellists were asked their opinion on how the possible implementation of stricter ...
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NewsATSG swings to a loss in Q3
Image source: Shutterstock Aircraft lessor ATSG reported a loss in the third quarter of the year as block hours decreased and costs increased. The company, which is in the process of being bought by investment firm Stonepeak for $3.1bn, saw revenues decline by 9.9% to 471.3m, operating ...
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NewsDouble-digit improvements for revenues and volumes at IAG Cargo in Q3
IAG Cargo shipments loading on aircraft Photo IAG Cargo via Hill+Knowlton StrategiesIAG Cargo enjoyed a bumper performance in the third quarter of the year with cargo revenues and volumes improving on a year earlier thanks to additional capacity and increased demand.The cargo division, which includes the cargo capacity of British ...
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NewsAir France KLM Cargo eyes Asia as performance improves in Q3
Source: Semmick Photo Shutterstock.comAir France KLM Martinair Cargo recorded improvements in cargo volumes, revenues and yield in the third quarter as it benefitted from rising demand out of Asia Pacific.The Franco-Dutch airline group noted a 0.6% increase in overall third-quarter cargo revenues to €561m, while cargo traffic revenues improved ...
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NewsEmirates SkyCargo volumes up 16% in first half
Dubai International. Source: Karol Ciesluk / Shutterstock.comEmirates SkyCargo has reported a rapid increase in volumes in the first half of the year thanks to general market improvements and additional freighters.The freighter operator reported a 16% year-on-year increase in cargo volumes to 1.2m tonnes over its fiscal first half year running ...
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NewsSwissport targets e-commerce with ViaEurope acquisition
Warwick Brady, president and chief executive of Swissport; and Bram-Jan Streefland, chief executive of ViaEurope. Photo: SwissportSwissport has signed an agreement to acquire ViaEurope, an end-to-end e-commerce handling company, specialising in advanced solutions for shippers, cargo airlines and freight forwarders.ViaEurope offers its e-commerce services at five major airports in Europe: ...
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NewsTrump presidency could curb e-commerce air cargo
Photo: Markus Mainka/ ShutterstockA crackdown on e-commerce shipments could see the air cargo industry lose valuable volumes in the dawn of a new era of presidency in the US.Judah Levine, head of research at Freightos, said there’s a strong possibility that a new government led by the soon-to-be president Donald ...
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NewsDutch air cargo group hits out at Schiphol price increases
Image: ShutterstockAir Cargo Netherlands has warned that Schiphol Airport's plans to increase rates next year will disproportionally impact freighter airlines.The Dutch airport last week announced that it would increase airline charges by 37% over the coming three years in response to high inflation and increased interest rates.The charges will increase ...
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NewsCharter demand boosts Cargojet's performance in Q3
Demand for charter operations helped boost revenues for Canada-based freighter operator Cargojet in the third quarter of the year.The company reported a 14.8% increase in overall revenues to C$245.6m for the third quarter, with ACMI revenues up 12% to C$70.2m, domestic network up 5.2% to C$97.3m and all-in charter revenues ...
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NewsDHL Global Forwarding sees Q3 airfreight revenues rise but profits under pressure
DHL Group CEO Tobias Meyer. Photo: DHL GroupDHL Global Forwarding saw its air cargo volumes and revenues rise in the third quarter led by trades out of Asia but gross profits came under pressure due to rising rates.The forwarding business registered an 8.5% increase in air cargo volumes to 445,000 ...