All Business Articles – Page 57
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Heathrow looks back on record 2018
The operator of London Heathrow Airport, Heathrow Airport Limited (HAL), has said that 2018 was a record year for the UK’s biggest and busiest air gateway.As well as handling a record number of passengers (80.1m), it also enjoyed an increase in revenue and profits compared to 2017.However, the picture was ...
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Panalpina shareholder urges board to consider DSV offer
One of Panalpina's major shareholders has written to the forwarder's board urging them to seriously consider DSV's takeover offer and to express its concern over the largest shareholder's control over the company.In a letter to the Panalpina board, David Samra, managing director of Artisan Partners, a 12% shareholder, said that ...
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Japan's ANA takes a 9.5% stake in Philippine Airlines
Japan's All Nippon Airways (ANA) group will invest $95m to acquire 9.5% of PAL Holdings, the parent of Philippine Airlines (PAL), the Philippine flag carrier.ANA Holdings will acquire the shares from Trustmark Holdings Corp, which is owned by the Lucio Tan family and is the largest shareholder of PAL Holdings.Completion ...
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DSV move for Panalpina could spark 'bidding war' for forwarder
Consultant Transport Intelligence (Ti) has suggested that DSV's move to purchase Panalpina could spark a 'bidding war' for the forwarder that could price the Danish company out of the running.In its latest market round-up, Ti took a closer look at the potential outcome of DSV's $4bn offer to purchase Panalpina.Practice ...
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European Commission 'infringed' UPS' rights by blocking TNT takeover
The European Court of Justice (ECJ) has ruled that the European Commission in Brussels infringed UPS’ rights when it stopped the US express parcel and logistics giant from buying TNT Express in 2013 for €2.2bn.A UPS spokesperson confirmed that UPS was proceeding with the process of suing the commission for ...
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ASM moves to allay no-deal Brexit ferry port congestion concerns
Customs clearance software provider Agency Sector Management (ASM) says that plans are in place to continue processing the current levels of imports and exports at ferry ports when the UK leaves the European Union in March.ASM chairman Peter MacSwiney said that for imports of EU goods, the plan involves all ...
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Air cargo growth expected to weaken in 2019
Air cargo market growth is expected to continue to soften in 2019 with a slowdown in world trade predicted to hit volume and yield performance.In its annual market update, airline association IATA said that it expects cargo volumes to grow by 4.1% to 63.7m tonnes this year but improvements will ...
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US retailers relieved as US delays $200bn China tariff increase
US retailers have welcomed news that the US has decided to hold off on implementing tariffs on $200bn worth of Chinese goods due to be implemented in January.The delay comes after China and US agreed to a 90-day truce on further tariffs hikes to allow talks to take place.From January ...
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LATAM finalises Mas Air Cargo sale
LATAM airlines has finalised the sale of its stake in Aerotransportes Mas de Carga (Mas Air), also known as LATAM Cargo Mexico, for an undisclosed sum.The stake has been purchased by a group led by current shareholders of Mas Air, with the deal completed on December 1.According to Flight Radar, ...
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How would a combined K+N and Panalpina stack up in terms of air cargo?
Recent events have fuelled market speculation that Kuehne+Nagel could be interested in holding talks with Switzerland-based freight forwarder Panalpina, but what would a tie-up between the two logistics giants look like in terms of air cargo? (see chart at end of article)The speculation started when Panalpina’s Peter Ulber announced he ...
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CEVA buys CMA CGM's freight management business as part of strategic shake-up
CEVA will buy shareholder CMA CGM’s freight management activities for $105m as part of a wider revision of its strategic plan that will see management at the shipping line take key positions within the forwarder.CEVA, which launched a transformation project in 2014, said that as well as the acquisition of ...
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Could DB revive plans to sell a stake in its Schenker forwarding business?
Deutsche Bahn (DB) could again consider the sale of a stake in its forwarding and logistics business Schenker as it looks to raise money for investment in its rail business.DB chief executive Richard Lutz recently told journalists in Frankfurt one way of potentially raising funds could be to launch an ...
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Cargojet revenues up on overnight and charter business
Aircraft lessor Cargojet recorded a double-digit percentage improvement in revenues during the third quarter of the year on the back of its overnight and charter business.The Canadian company saw third-quarter revenues increase by 27.6% year on year to C$114.1m, adjusted ebitda was up 24% to C$31.5m and net earnings stood ...
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Emirates SkyCargo reaches Cargo iQ milestone
Emirates SkyCargo has monitored nearly 823,000 shipments using Cargo iQ guidelines in the first six months since it received certification.According to data published by Cargo iQ, Emirates SkyCargo is one of the largest air cargo carriers for the total number of shipments tracked using Cargo iQ metrics and the carrier ...
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ATSG completes Omni Air acquisition
ATSG has completed the previously announced acquisition of Omni Air International LLC (Omni Air), a passenger ACMI and charter services provider, for $845m.Omni Air, founded in 1993 and with a fleet of 13 passenger aircraft, a mix of Boeing 767 and Boeing 777 extended range units, serves the US and ...
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Air Canada Q3 revenue hits record high
Air Canada’s third-quarter results showed growth of 11% in operating revenue, which exceeded C$5bn for the first time in the carrier’s history.Operating expenses of C$4.6bn were up 17% compared to the same quarter of 2017, mainly driven by higher fuel prices and increased capacity.In terms of its cargo activities, the ...
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Etihad Airways and Saudia include cargo in new co-operation
Saudi Arabian Airlines (Saudia) and Etihad Airways have agreed a new codeshare partnership and announced plans for greater commercial co-operation in other fields, including cargo.The agreement between the Kingdom of Saudi Arabia’s national flag carrier and Etihad, the national airline of the United Arab Emirates, also includes closer co-operation on ...
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Trade continues to grow but air cargo braced for a slowdown
Global trade is expected to continue to grow, although the pace of improvement is expected to weaken, led by air cargo.The latest three month DHL Global Trade Barometer (GTB) forecast index now stands at 63 points (anything over 50 points signals growth), compared with 67 points three months ago.“After months ...
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US shippers hit out at latest round of US tariffs
The National Retail Federation (NRF) has criticised the latest round of US tariffs on Chinese products, saying that American families will pay the bill.The new 10% tariff on $200bn worth of Chinese goods are likely to have more of an impact on airfreight than the two previous rounds as they ...
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K+N: Trade tensions taking hold
“After a strong gauge in July, the new data show a negative trend. The sharpest slowdown is expected for emerging markets, which are most exposed to any impact from rising trade tensions. In September, a major setback in exports is expected in South Korea, Japan, Taiwan, India, and Brazil.”So says ...