All Business Articles – Page 40
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NAP introduces Global Airline Partner Programme
Neutral Air Partner (NAP), a network for airfreight and logistics providers, has launched a Global Airline Partner Programme.The Programme offers airline partnership options including preferred carrier status, marketing, PR and communications, global or regional BSA/CPA agreements, charter deals, special cargo offerings, as well as target and volume incentives on a ...
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YTO confirms Alibaba share purchase
Chinese e-commerce giant Alibaba Group Holding has upped its stake in delivery firm YTO Express.YTO yesterday confirmed that Alibaba had purchased an additional 12% of its shares for Yuan6.6bn, bringing its stake in the company to 22.5%.News that Alibaba could be looking to up its presence in YTO broke last ...
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Damco brand to be axed as part of re-organisation
Damco parent AP Moller Maersk has announced that it will integrate the forwarder into its own logistics business.The shipping giant said that as a result, the Damco brand will disappear from the market by the end of 2020.The move will see Damco's air and less than container load (LCL) offering ...
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Azul's domestic e-commerce operations push up revenues
Brazilian carrier Azul is celebrating 11 years of operations and has said that despite the coronavirus pandemic this year, it has seen growth in some areas of the business.In the first quarter of 2020, Azul Cargo Express's revenues were 36% higher than in the same period of 2019.The company said ...
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Neutral Air Partner partners with Bridges Worldwide to deliver express solutions
Freight networking group Neutral Air Partner (NAP) is working with Bridges Worldwide to provide international express and courier linehaul solutions.The strategic partnership between the companies will provide NAP members with a platform of neutral linehaul solutions and block space agreements (BSA) on scheduled freighter services and commercial airlines for express ...
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Kerry Logistics sees revenue and profits rise in H1 2020
Asia-based Kerry Logistics has achieved increased revenues and profits in the first half of this year, demonstrating its "diversity, adaptability and agility", despite disruption caused by the Covid-19 pandemic.The company saw core net profit rise up 26% to HK$845m in the first half of 2020 as profits at its international ...
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Virgin Atlantic Cargo launches operations between UK and Pakistan
Virgin Atlantic Cargo is set to operate flights between the UK and Pakistan from December this year, after creditors voted in favour of its restructuring plan.Virgin Atlantic will operate three new routes: London Heathrow to Lahore; London Heathrow to Islamabad; and Manchester to Islamabad."Trade in goods and services between the ...
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Q7 Air Cargo invests in perishables specialist Airflo
Dubai-based logistics firm Q7 Air Cargo is to acquire an interest in the Dutch holding company of perishable forwarder Airflo from the Dutch Flower Group.Q7 Air Cargo and its sister company, Tiger Freight, are long term operators in the African perishable logistics industry and their participation in the Airflo businesses ...
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Swissport secures €300m funding commitment
Ground handler Swissport has received a funding boost as it continues to battle through the difficult trading conditions resulting from the coronavirus outbreak.The company said it had secured a €300m binding commitment from an ad hoc group of senior secured creditors, subject to final documentation, which would deliver immediate liquidity ...
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NewsUnited flies its 5,000th cargo-only PAX flight
United Airlines Cargo has flown its 5,000th cargo-only passenger aircraft flight since it began operating them in March.During that time, the carrier has transported almost 170m tonnes of airfreight on these cargo-only flights alone, which are operated with some of its Boeing 777s and 787 aircraft.Cargo shipped on the special ...
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Mixed performance for Agility in H1
Agility saw its profits dive in the first half, although its airfreight business performed well.The company saw its revenues for the first half decrease by 1.3% year on year KD765.1m, earnings before interest, tax and depreciation (ebitda) was down 20.1% to KD75.8m and net profits slipped by 61.3% to KD16.2m.The ...
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Cargo the bright spot as Cathay navigates "most challenging" period
Cathay Pacific Group reported an operating loss of HK$8.7bn ($1.13bn) for its half-year financial results, in what its chairman called the “most challenging” period for the group in its 70-year history.Cargo proved to be the sole bright spot for the troubled group, which in recent months was the subject of ...
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NewsAviaAM Leasing acquires B747-400F on behalf of Magma Aviation
AviaAM Leasing, part of the Avia Solutions Group, has purchased a Boeing 747-400F nose-loader freighter.The aircraft, which is part of the Magma Aviation fleet, accomplished its first commercial cargo flight on August 4.Magma Aviation designs and delivers bespoke air cargo transport solutions for routes worldwide. It believes that the new ...
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Forwarder and shipper charter deals propel Atlas Air in Q2
Atlas Air Worldwide Holdings saw its operating revenues and income increase during the second quarter of the year as forwarders and shippers looked to secure freighter capacity through charter deals with the firm.The New York-headquartered lessor reported second quarter operating revenues of $825.2m — up 24.3% on year earlier — ...
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Lufthansa Cargo revenues lifted by capacity crunch
Lufthansa's logistics division, which includes Lufthansa Cargo, saw revenues rise in the first half of this year, despite significant cuts to bellyhold capacity.The carrier said this outcome was a result of demand outstripping supply. "Demand for the remaining cargo capacities went up during the first half-year of 2020, with the ...
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Virgin Atlantic's cargo flights continue as it applies for bankruptcy protection
Virgin Atlantic has confirmed that it will continue its cargo operations after filing for Chapter 15 bankruptcy protection in the US.The airline told Air Cargo News that cargo operations will continue while it goes through the process of securing court approval for its creditor backed restructuring plan.Cargo flights will therefore ...
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NewsAir Cargo Forum the latest event to be cancelled
Tiaca and event organiser Messe München have announced the cancellation of the 2020 Air Cargo Forum (ACF), due to take place in Miami in November.The partners said that they had taken the decision to cancel the event in light of concerns over the health and safety of the ACF exhibitors, ...
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Virgin Atlantic files for bankruptcy protection, plans restructuring vote
Virgin Atlantic creditors will vote on the UK carrier’s restructuring plan at a meeting on 25 August after court proceedings in London.The UK carrier secured the order following a 4 August court hearing, held as part of the planned private recapitalisation it announced in July under the UK Companies Act.In ...
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Atlas Air sees share price soar as investors circle
Atlas Air Worldwide Holdings has seen its share price increase rapidly since the start of the year as investors look to benefit from the ongoing capacity crunch.New York-headquartered Atlas Air Worldwide Holdings has seen its share price on the NASDAQ exchange double from $27.73 on January 2 to $55.72 as ...
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NewsDHL the latest to report rapid airfreight revenue growth
Deutsche Post (DP) DHL is the latest company to report soaring airfreight revenues as a result of the capacity crunch experienced in the second quarter of the year.The German express and parcels giant saw second-quarter revenues from its airfreight forwarding business increase by 57% year on year to €1.8bn, gross ...