All Business Articles – Page 55
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News
Is e-commerce worth the investment for air cargo?
Amazon is upping the ante in the race to the consumer’s door with the announcement that it is slashing delivery times for its Prime customers from a standard two-day window to next day.For now the change targets the US market, but Amazon has signalled that it intends to come up ...
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Transpacific air cargo rate outlook clouded by tariff troubles
Airfreight rates on major trade lanes continued to show a mixed performance in May.The latest figures from TacIndex show that on the Hong Kong-North America trade prices declined by 4.4% year on year in May to an average of $3.71 per kg.The fact prices are down on last year should ...
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New offices drive Air Partner’s freight growth
Air Partner’s Freight division has reported record profits of £4.9m, up 45.3% for the year ended 31 January 2019, accounting for 13.8% of the global aviation services group’s overall gross profit.Over the course of the last financial year, the group has expanded its team in Turkey and established a new ...
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ACE Belgium Freighters hits back in name dispute
All-cargo operator ACE Belgium Freighters has hit back against a complaint made to the US Department of Transportation (DOT) over the use of the ACE name.On May 2, the Liege-based airline was given approval by the DOT to start scheduled and charter services between the European Union and the US.However, ...
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Avianca sees cargo revenues fall following termination of Etihad partnership
Avianca saw cargo revenues decline in the first quarter following the termination of its commercial agreement with Etihad Cargo on freighter flights to Europe.The company said that revenues from its “cargo and other” business were down by 8.4% year on year to $180.3m in the first quarter, primarily due to ...
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NewsEmirates CCO resigns days after profit fall announced
Thierry AntinoriEmirates has confirmed that chief commercial officer Thierry Antinori has resigned from his position, where he managed commercial operations and products, Emirates Skycargo and Emirates Skywards.Adnan Kazim, divisional senior vice president, strategic planning, revenue optimisation and aeropolitical affairs, will take over as acting chief commercial officer.The news comes shortly ...
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Agility sees profits, revenues and airfreight increase
Kuwait-based logistics and infrastructure firm Agility saw revenues and profits increase during the first quarter of the year despite a slowing growth environment.First-quarter revenues at the company increased by 1.9% year on year to KD378.8m ($1.2bn), while ebitda was up 22.8% to KD46.3m and net profits imporved by 7.3% to ...
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US more than doubles Chinese tariff levels
The US has followed through on its threat to increase tariffs on $200bn worth of Chinese goods.Tariffs on Chinese products being imported into the US have been increased from 10% to 25% and China has threatened to retaliate.The types of products covered by the tariff increases includes: fresh food, processed ...
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NewsSouth America and Africa boost IAG Cargo in tough Q1
IAG Cargo managed to record an increase in airfreight traffic in the first quarter despite an overall market decline, although revenues for the period were down.IAG's cargo division saw cargo traffic increase by 2.6% year on year to 1.4bn cargo tonne kms, while revenues decreased by 0.4% on a year ...
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NewsDHL sees airfreight volumes slide but rates boost revenues
DHL Global Forwarding saw its airfreight volumes decline for the fifth quarter in a row in the first three months of the year, but profits at its air division increased as rates improved on a year ago.The Deutsche Post-owned freight forwarder reported a 4.2% decline in airfreight volumes during the ...
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ATSG boosted by Omni, Amazon and DHL
ATSG saw revenues increase by 71% in the first quarter of the year thanks its purchase of Omni Air while it expects a further boost from expanded contracts with Amazon and DHL.The aircraft lessor and operator saw first quarter revenues reach $348m, while earnings from continuing operations increased by $7m ...
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NewsAdidas turns to airfreight to mitigate supply chain shortages
Sportswear giant Adidas is turning to airfreight as it looks to mitigate supply chain shortages caused by an unexpected increase in demand for certain products.In its first-quarter results, the Germany-headquartered multinational said that revenue growth during the first three months of the year was affected by product shortages.It warned investors ...
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US threatens further tariff hike on Chinese goods
US retailers are bracing themselves for increases in US tariffs on Chinese goods after president Donald Trump took to Twitter over the weekend to threaten further hikes in rates.On Sunday, president Trump said that the 10% tariff rate on $200bn worth of Chinese goods would good up to 25% on ...
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Atlas sees revenues grow on increasing demand
Atlas Air Worldwide Holdings (AAWW) saw adjusted profits increase in the first quarter of the year as a result of increasing customer demand.The aircraft lessor and operator reported first-quarter operating revenues of $680m, while adjusted income for the period was up 14.7% to $27.3m and adjusted earnings before interest, tax, ...
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NewsDHL extends ATSG freighter leasing deal
A DHL B767F like those leased by ATSGDHL has extended by three years its deal to lease 14 Boeing 767 freighters from ATSG subsidiaries.The aircraft lessor said that it would also operate eight of those aircraft within DHL's North American Network.The agreements include:- The extension of eleven aircraft leases between ...
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NewsProfits tumble at Lufthansa's cargo business
Lufthansa’s cargo and logistics segment saw operating profits tumble in the first quarter as volumes declined and expenses increased.Lufthansa’s logistics segment, which includes Lufthansa Cargo and other businesses such as time:matters and Jettainer, saw first-quarter revenues decline by 4% year on year to €616m while earnings before interest and tax ...
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NewsDSV expects Panalpina deal to complete in Q3 as profits rise
DSV expects to close its takeover of Panalpina by the end of the third quarter of this year.In its first quarter results, Denmark-based freight forwarder DSV revealed its expected timeline for its $4.6bn takeover of Panalpina.In May, DSV will file its planned share purchase with the relevant authorities, announce its ...
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NewsTurkish Cargo's Özen the latest to join Tiaca board
Turhan ÖzenTurhan Özen, chief cargo officer of Turkish Airlines and the head of the Turkish Cargo, has been elected to the Board of The International Air Cargo Association (TIACA).Özen has an extensive knowledge of the territories surrounding Turkey, having overseen business development in the Balkans, Middle East, and African regions.“With ...
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UPS profits hit by severe winter weather
UPS saw profits decline in the first quarter of the year as extreme winter weather hit earnings.During the period, the company saw revenues increase by 0.3% to $17.2bn while net income declined by 17.4% to $1.1bn.The company said that its profits were affected by “severe winter weather in the US” ...
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NewsPanalpina airfreight volumes improve in Q1 despite market decline
Panalpina has bucked market trends by reporting an increase in air cargo volumes in the first quarter of the year, while overall profits and revenues were also on the up.The company, which looks likely to merge with Denmark’s DSV, saw airfreight volumes increase by 8% in the first quarter to ...