All Business Articles – Page 46
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News
Lufthansa mulls cargo-only PAX flights while it cuts capacity
While announcing its 2019 financial results, Lufthansa said that it was considering using its idled passenger aircraft for freight-only flights while it also revealed drastic capacity cuts in response to the coronavirus.The German airline group said it would reduce capacity by 95%, parking up 700 aircraft, as part of measures ...
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IAG offers PAX aircraft for cargo charter
IAG is offering its passenger aircraft to freight forwarders for cargo operations in response to the coronavirus.In a short note to customers, IAG Cargo chief commercial officer John Cheetham said: "To support your freight and to help get it where it needs to be, we are now opening up the ...
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FedEx cancels outlook, prepares for capacity crunch
FedEx has cancelled its outlook for 2020 and has warned that airfreight capacity on the transatlantic will come under pressure.When announcing its third-quarter results, the express giant said that the unpredictable nature of the market — as a result of the coronavirus outbreak — meant it would not provide an ...
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DSV Panalpina withdraws 2020 outlook
DSV Panalpina has withdrawn its outlook for 2020 as market conditions remain hard to predict.The Copenhagen-based freight forwarder said that financial results for January were on budget but in February were around DKr150m lower than expected."As a result of the current global outbreak of coronavirus, supply chains and the global ...
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CEVA Logistics operates charters to maintain Asia-US supply chain
CEVA Logistics has contracted 86 freighter flights to help maintain the global supply chain as the coronavirus outbreak continues.The company is using the aircraft on a charter basis to deliver parts and supplies to its customers in the automotive, aerospace, computer and hi-tech electronics sectors.The majority of flights served routes ...
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Neutral Air Partner adds 24/7 support desk
Air cargo network Neutral Air Partner has added a 24/7 support desk to help members trying to meet coronavirus challenges.NAP and its time-critical sub group, NAX 24-7, said the support centre will provide assistance and solutions, helping its members connect with the right partners and service providers."Following the increasing and ...
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Virgin Atlantic takes drastic action to safeguard business
Virgin Atlantic has implemented a "drastic" cost cutting exercise as it takes measures to offset a slump in demand as a result of the coronavirus outbreak.The airline noted a sharp and continual drop in demand for flights across its network, meaning "immediate and decisive action is needed"."Today, Virgin Atlantic will ...
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IAG looks at recruiting passenger jets to serve critical freight lines
IAG is considering recruiting some of its passenger aircraft for airfreight operations, to ensure that essential cargo supplies are maintained as the coronavirus crisis persists.Chief executive Willie Walsh, speaking during a March 16 briefing, said that governments “need to appreciate” that there is a strong cargo demand, and passenger aircraft ...
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Delta and United cargo divisions respond to Trump's Europe travel ban
Airlines' cargo divisions have responded to President Donald Trump's ban on individuals travelling from Europe to the US.From today (Friday 13), individuals from 23 countries in the European Union will not be permitted to travel to the US, due to US' fears about the spread of coronavirus.In response to the ...
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Reports: AirBridgeCargo in negotiations on freighter lease deals
Russian press reports suggest that AirBridgeCargo (ABC) is in negotiations with lessors over five of its B747 freighters.A Kommersant report quotes Tatyana Arslanova, executive president of AirBridgeCargo, as saying that the airline has entered negotiations with lessors over a break in the lease deals or reduced rates.She said that negotiations ...
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WorldACD highlights impact of "corona effect"
Ahead of its full results for February, which will be released in two weeks' time, WorldACD has released preliminary figures for the month, which it says give an outlook on the "corona effect" when combined with January's figures.The analyst explained: "Looking at February in isolation leads to an incomplete picture ...
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Cargo escapes US ban on travel from Europe
The White House has clarified that cargo is not included in the US ban on travel from Europe announced as part of efforts to stop the spread of coronavirus.Yesterday, US president Donald Trump announced an unprecedented travel ban from most of Europe to the US would begin at the end ...
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Cathay Pacific Cargo performs "below expectations"
Cathay Pacific reported that its cargo division performed "below expectations" last year, with cargo revenues of HK$21.1bn – a 14.3% decrease on 2018 revenues.Cargo revenue tonne km decreased by 6.7% to 11.3bn, volumes decreased by 6% to 2m tonnes and yields decreased by 7.9% to HK$1.87.Load factor declined by 4.4 ...
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NewsDHL airfreight volumes down 4.6% in 2019
The world’s largest airfreight forwarder DHL Global Forwarding saw airfreight revenues and volumes decline last year, but gross profit improved (see charts at end of article).The DHL Global Forwarding, Freight division saw total airfreight volumes for 2019 decline by 4.6% year on year to 2m tonnes, while revenues were down ...
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Damco: Finding fresh focus
Freight forwarder Damco is looking to take advantage of a rising market this year with a new business focus targeting specific areas, as its global head of airfreight, Ferwin Wieringa, tells Damian BrettThe last few years have been a period of change for the airfreight market, but also for freight ...
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BIFA celebrates first anniversary of Young Forwarders Network
The British International Freight Association (BIFA) is celebrating the first anniversary of its Young Forwarders Network (YFN).BIFA launched the YFN, which involves events run by young forwarders in regional networks, in March 2019.Since its establishment a year ago, six regional networks have been formed and more than 20 YFN events ...
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China airfreight rates spike while Cathay mulls cargo only PAX flights
Airfreight rates from China increased rapidly last week as demand from China begins to ramp up but spare capacity remains tight.The latest figures from TAC Index show that last week average airfreight prices from Shanghai to North America increased by 32.3% on a week earlier to $4.02 per kg, while ...
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CLIVE to provide airfreight data to TIACA in new partnership
TIACA has signed an memorandum of understanding (MOU) with CLIVE Data Services to create and deliver air cargo market and route analyses to TIACA members.CLIVE, the creator of the new ‘dynamic load factor’ analysis, strives to give the earliest possible barometer of market analysis based on cargo data – volume ...
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NewsMenzies Aviation hires new Americas CFO
Menzies Aviation has named Jennifer Gourley as its new chief financial officer, Americas, effective from March 16.Reporting to executive vice president John Redmond, Gourley will be based in Dallas-Fort Worth and will oversee the financial activities for the Americas region, where Menzies has operations at 115 airports in seven countries.Prior ...
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NewsForwarder Delmar expands US presence with Rotra acquisition
Canadian freight forwarder Delmar International has announced the acquisition of Rotra, LLC and Rotra Brokerage Services, Inc.Delmar said the transaction significantly raises the capabilities and size its US footprint and workforce, which now exceeds 200 employees and operates from coast to coast with seven branches throughout the country.Established in 1984, ...