All Business Articles – Page 41
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News
Expeditors outlines 'intense' and 'unsettled' Q2 for air cargo
Seattle-headquartered freight forwarder Expeditors has described the second quarter as "intense" and "unsettled" as a result of the supply-demand imbalance in air cargo.Summing up the second three months of the year, president and chief executive Jeffrey Musser said that the Covid-19 outbreak has had a significant and widespread impact on ...
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Airfreight rates up as capacity comes under pressure
Airfreight rates from key Asian hubs continued to climb last week as ocean capacity shortages and personal protective equipment shipments pick up.The latest figures from TAC Index show that average airfreight rates from Hong Kong to North America last week climbed for the fourth week in a row as they ...
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IAG Cargo achieves higher revenues despite a slide in volumes
IAG Cargo saw is revenues rise in the first half of this year, despite volumes being down on a year earlier.Revenues for the first six months increased 10.5% year on year to €615m, while volumes dipped 33% to 232 tonnes "due to the reduction in passenger schedules"."Yields were significantly higher, ...
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NewsAir France KLM cargo revenues up despite volume decline
Air France KLM saw its cargo revenues grow in the second quarter of the year despite a dramatic drop off in volumes.The French-Dutch airline group recorded a 44.4% year-on-year drop in cargo traffic during the second quarter to 1.2bn revenue tonne kms, but revenues increased by 5.2% on last year ...
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NewsAirfreight propels 'better than expected' Q2 results for DSV Panalpina
DSV Panalpina saw its airfreight revenues rapidly increase during the second quarter of the year as a result of the coronavirus outbreak and the ongoing integration of Panalpina.The forwarder saw airfreight revenues for the second-quarter increase by 164.2% year on year to DKK12bn, gross profit for its air business was ...
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Airfreight the star for CH Robinson in volatile Q2
Third-party logistics provider CH Robinson saw second quarter 2020 revenues fall 7.2% to $3.6bn in a “volatile environment” and lower pricing in trucking while airfreight revenues surged due to reduced capacity and larger shipment sizes.Net group revenues decreased 11.6% to $614.5m as income from operations dropped 17.0% to $188.8m.Second quarter ...
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Better than expected results for UPS in Q2
US parcels and logistics giant UPS saw “better than expected” financial results in 2020’s second quarter as consolidated average daily volume surged to a record 20.9% growth.Second-quarter 2020 consolidated revenue increased to $20.5bn, a 13.4% increase from the same period 2019.Adjusted net income was $1.9bn, 8.8% above the same period ...
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Air cargo declines narrow in June as market remains 'exceptionally challenging'
Airfreight traffic declines showed some signs of improving in June but business remains "exceptionally challenging", according to the latest IATA market wrap-up.The airline association's latest data shows that air cargo demand in cargo tonne km (CTK) terms declined by 17.6% year on year in June, which is a "modest" improvement ...
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Cargo.one raises $18.6m as it looks to triple in size
Digital booking platform cargo.one has raised $18.6m in venture funding in its Series A round to help it achieve significant expansion by the end of this year.Cargo.one said it will use the funding to onboard new airlines, grow in new markets, hire 70 employees and ultimately triple in size."In the ...
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NewsGebrüder Weiss starts work on Graz facility
Gebrüder Weiss is expanding its presence in Austria with a new €26m logistics terminal in Graz in the district of Styria, Austria.The company held has a ‘ground-breaking ceremony’ to mark the construction of the 70,000 sq m facility, which commenced in April this year and is expected to be completed ...
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PayCargo integrates with Unisys for air cargo payments
PayCargo’s online payment solution is now directly integrated with Unisys’ cargo management system.The two partners said the tie-up would "provide Unisys’ partner carriers with access to a single platform that includes modern payment services, with automated data flows that saves time and money".As reported, Delta Cargo has become the first ...
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US regional cargo carriers call for covid-19 payroll scheme extension
The Regional Air Cargo Carriers Association (RACCA) is one of a number of aviation companies calling on the US government to extend the payroll support programme (PSP) of Coronavirus Aid, Relief, and Economic Security (CARES) Act.RACCA said that congress is now deliberating next steps in packages designed to provide relief ...
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K+N sees airfreight revenues and profits rise in H1
Kuehne + Nagel's air division experienced an increase in revenues and profits in the first half of the year despite the coronavirus outbreak.The forwarder recorded a 4.2% year-on-year increase in net turnover in the first half of this year to CHF2.5bn in 2020, while earnings before interest and tax (ebit) ...
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Air Partner performance boosted by airfreight operations and repatriation flights
The strong demand for airfreight transport, group travel and repatriation flights during the coronavirus pandemic helped to bolster the performance of global aviation services company Air Partner in the first five months of its financial year.However, the outlook for the rest of 2020 looks less rosy for the UK-headquartered firm, ...
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NewsFTA to become Logistics UK later this month
UK supply chain group the Freight Transport Association has officially changed its name to Logistics UK.The group first announced plans for the change in February of this year, but the name change was delayed as a result of the Covid-19 outbreak.The move comes as the organisation looks to achieve more ...
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News
Transpacific airfreight rates edge back up
Transpacific airfreight rates increased last week as two US carriers temporarily back tracked on their plans for services to Hong Kong.The latest figures from TAC Index show that airfreight rates from Shanghai to North America increased by 4.2% week on week to $4.69 per kg while from Hong Kong to ...
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Virgin Atlantic finalises $1.5bn refinancing and aims for profit in 2022
Virgin Atlantic has finalised a $1.5bn (£1.2bn) refinancing package over the next 18 months, which the UK-based carrier says marks a “major milestone” in securing its future and under which it is aims to return to profit from 2022.The restructuring plan is based on a five-year business strategy and is ...
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NewsSenator International expands US freighter operations
Hamburg-headquartered logistics firm Senator International has expanded its Senator Atlantic Bridge (SAB) by adding Chicago Rockford International Airport (RFD) as a destination to its network.Senator will operate a Boeing 747-400 BCF service from Frankfurt-Hahn Airport (HHN) to RFD once a week.The company said in a statement: "The new destination provides ...
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NewsRFS firms see spike in demand with bellyhold operations grounded
Road Feeder Service (RFS) providers have reported a spike in demand during the coronavirus outbreak as a result of the grounding of passenger operations and subsequent loss of bellyhold capacity.Luxembourg-based Wallenborn's commercial director, Jason Breakwell, told Air Cargo News that the pandemic resulted in the company’s trucks travelling 19% more ...
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NewsNeutral Air Partner launches Perishable Logistics Network
Christos Spyrou, chief executive of Neutral Air PartnerFreight networking group Neutral Air Partner (NAP) has teamed up with UK-based Peter Shepherd Consultancy to launch Perishable Logistics Network (PLN).Perishable-focused PLN aims to assist small- and medium-sized enterprises (SMEs) in the perishable and cold chain logistics sectors, to compete both in service ...