All Business Articles – Page 51
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News
Air cargo peak quickly peters out
The air cargo peak season appears to have quickly fizzled out this year, following on from two bumper years in 2017 and 2018.The latest freight rate data appears to show that the rise in prices experienced at the start of November has quickly flattened off.Tac Index figures show that prices ...
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NewsFirst Africa office for Heppner
French freight forwarder Heppner has opened a branch in Dakar, Senegal – its first on the African continent. The company said it would also serve a wide swathe of the region, including Mali, Gambia and Guinea-Bissau.Heppner said that business prospects had been boosted by natural resources projects and by a ...
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NewsDHL sees Q3 airfreight volumes and revenues slide but profits rise
DHL Global Forwarding saw revenues and operating profits increase in the third quarter, despite a decline in airfreight volumes.The forwarder reported a 0.9% year-on-year increase in revenues to €3.7bn and earnings before interest and tax improved by 17% to €124m.Looking at its airfreight business, volumes for the third quarter were ...
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News
PayCargo: Air cargo firms must modernise to be relevant to the next generation
Air cargo companies must modernise if they want to appeal to the next generation of business leaders and avoid becoming obsolete, according to one PayCargo executive.Speaking to Air Cargo News at the Air Cargo Americas event, the payment system’s president and chief executive, Americas, Lionel van der Walt, used the ...
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News
DHL Hong Kong Air Trade Leading Index publishes Q4 results
The fourth quarter DHL Hong Kong Air Trade Leading Index (DTI) recorded a drop of 7.7 points from last quarter, down to 26 points.Sales volumes dropped by 9 points in the fourth quarter, from 32 points last quarter to 23 points this quarter.Meanwhile, product variety index fell from 40 points ...
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News
Volga-Dnepr confirms capacity-increasing An-124 upgrade
Volga-Dnepr has confirmed the upgrade of one of its An-124 aircraft to increase capacity.The upgrade has increased the aircraft's capacity by 20 tonnes, allowing a maximum total cargo payload of up to 150 tonnes. The upgrade now enables a single piece of cargo, weighing up to 120 tonnes, to be ...
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News
CargoLogicAir to halve fleet due to challenging market conditions
CargoLogicAir has announced it will reduce its freighter fleet by half early next year as it continues to battle “challenging market conditions”.The Stansted-hubbed airline said that in early 2020 it would reduce its B747 fleet to two aircraft from its current line-up of four – three B747-400Fs and one B747-8F.The ...
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News
WOW Air prepares to make a cargo comeback
Icelandic airline WOW, which offered budget passenger flights before folding in March this year, is making preparations to start operating as a cargo airline.The new WOW airline was initially going to provide passenger flights from October this year, but later announced a two-month delay.According to RÚV and Icelandic Review, WOW ...
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News
Atlas Air Worldwide releases third-quarter figures
Atlas Air Worldwide has revealed its third-quarter results for this year.From January to September, the airline reported an income of $60m – less than its $71.1m income from the first nine months of 2018.In the third quarter of this year, the company's EBITDA (earnings before interest, taxes, depreciation, and amortization) ...
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NewsKerry Logistics wins contract to execute Smiffys' international growth
Kerry Logistics has been chosen by UK-based fancy dress company Smiffys to help it carry out its international expansion plans.Kerry Logistics will provide global freight forwarding services and supply chain solutions from Smiffys' central distrubition centre in Ningbo, China, to the UK, Germany, Australia and the USA.Kerry Logistics will use ...
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NewsAir Cargo Americas: Airports to play increasingly important role in supply chains
Opening session at the 2019 Air Cargo AmericasAirports will play an increasingly important role in air cargo supply chains as lead times become increasingly shorter.Speaking at the Air Cargo Americas event in Miami, Sao Paulo's GRU Airport chief executive Gustavo Figueiredo said that the role of airports in the air ...
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News
Resilience360 and TAPA collaborate to reduce cargo crime
Supply chain risk management company Resilience360 and the Transport Asset Protection Association (TAPA) have teamed up to fight against cargo crime intelligence.The collaboration will help both Resilience360 customers and TAPA members to better identify cargo theft issues, as well as providing a more more holistic view of cargo security threats ...
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NewsFirst-ever Madrid Air Cargo Day deemed a success
At the first Madrid Air Cargo Day, organised by Foro Madrid Cargo in collaboration with Spanish airport operator Aena and IATA, more than 100 industry experts gathered to explore the theme: modernisation of the airfreight world - projects, challenges and trends.Keynote speakers included David Bellon, vice president of Air Cargo ...
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NewsLogistics industry praised at FTA Awards
FTA Logistics Awards winners Photo: Professional Images/@ProfImagesThe logistics industry is to be applauded for keeping Britain trading, despite uncertain market conditions, according to a leading government transport minister.During a speech at the Freight Transport Association’s (FTA) Logistics Awards 2019, Baroness Vere of Norbiton, parliamentary under secretary of state, Department for ...
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News
Volga-Dnepr to cut 100 jobs and reduce An-124 fleet, report claims
In a move that reflects challenging airfreight market conditions, Volga-Dnepr will reportedly take one or two of its An-124 aircraft out of action and make 100 job cuts.According to Russian Aviation Insider (RIA), the airline has reduced its An-124 fleet from 12 to eight aircraft over the past two years ...
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NewsKuehne+Nagel sees airfreight volumes decline again in Q3
Kuehne+Nagel saw airfreight volumes and revenues decline in the third quarter, but it managed to maintain profitability.The company reported a 7.5% year-on-year drop in third-quarter airfreight volumes to 406,000 tonnes, revenues declined by 6.7% on a year ago to SFr1.3bn but earnings before interest and tax (ebit) were flat at ...
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NewsPayCargo continues to grow as executive team changes revealed
PayCargo has announced the appointment of two new executives and a third change to its management line up as the business continues to grow.In July, the payment system appointed Lionel van der Walt as president and chief executive of its Americas business.“My focus at PayCargo is to further strengthen the ...
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News
Volga-Dnepr Group moves to allay reports of financial woes
The Volga-Dnepr Group has downplayed Russian press reports regarding the scale of the current financial challenges it faces, stating that it has already initiated an optimisation plan to meet tough market conditions.A report in Ulnovosti states that the company was not immediately able to pay employees for September and that ...
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News
Mixed results for CargoLogicAir as it looks to future growth
UK-based all-cargo airline CargoLogicAir saw its revenues almost double last year but losses deepened.According to figures just released, the B747 freighter operator reported a 99% year-on-year increase in revenues for the 2018 calendar year to £213.7m, but its net loss reached £18m, compared with £2.5m in 2017, and its operating ...
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News
DSV Panalpina warns of job cuts during restructure
DSV Panalpina Group has announced the possibility of job cuts as it relocates the former Panalpina headquarters (in Basel) to its headquarters in Denmark.The company said it is finalising its analysis of the impact on corporate functions at the former Panalpina headquarters but warned the relocation could result in up ...