All Business Articles – Page 64
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Tex Gunning to leave TNT CEO role if FedEx succeeds in takeover bid
TNT Express chief executive Tex Gunning will be replaced by David Binks if FedEx’s $4.8bn takeover, due to be launched on Monday, is successful.The two companies today announced that, on Monday, FedEx will make its recommended public cash offer for all the issued and outstanding ordinary shares of TNT Express.The ...
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Panalpina suffers Q2 airfreight declines
Panalpina lost ground on its airfreight rivals during the second quarter of the year as key market segments came under pressure, while profits took a hit on currency exchange.The Switzerland-based freight forwarder recorded a 5% decline in volumes compared with last year to 203,000 tonnes, which it blamed on lower ...
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Safety first as Air Canada says no to snubbed-nosed dogs and cats
Air Canada will no longer allow the transport of snubbed-nosed dog and cat breeds as cargo or checked baggage on health and safety grounds.The airline said that from today snubbed-nosed breeds, such as pugs, bulldogs and Japanese chin dogs and persian and burmese cats, would no longer be accepted because ...
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IAG's Aer Lingus deal edges forward
IAG’s drawn out acquisition of Irish carrier Aer Lingus edged forward yesterday when the European Commission (EC) approved the deal as long as certain conditions are met.The owner of British Airways and Iberia was yesterday told by the EC’s competition authority that it would approve the deal as long as ...
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UPDATE: XPO gains injunction against Norbert Dentressangle shareholder
XPO Logistics has won an injunction against one of the shareholders of Norbert Dentressangle as it attempts to acquire all of the shares in the French logistics giant.XPO, which in June completed a deal to purchase the Dentressangle family’s 67% shareholding in the logistics firm, has been pushing ahead with ...
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Protesters cause Heathrow disruption
Protesters against expansion at Heathrow have caused delays and cancellations to flights this morning after they gained access to the airport’s runway.At 03.30 this morning, members of the Plane Stupid protest group managed to cut through a fence and chain themselves together on the runway causing 13 flights to be ...
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Heathrow starts planning for third runway
Heathrow has already started planning for the delivery of a third runway, even though the UK Government has yet to make a final decision on how to expand airport capacity in the southeast of the country.In his first speech since the Airports Commission recommended a third runway at Heathrow over ...
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Heathrow backed by Airports Commission report
The Airports Commission has backed expansion at Heathrow airport over Gatwick in its long awaited recommendation to the government.The Commission considered three schemes for expansion: a new 3,500 m runway at Heathrow, an extension of the existing northern runway at Heathrow, or a new runway at Gatwick Airport.But in the ...
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The battle for Heathrow Runway 3 is not yet won
Freight industry and business leaders welcomed the Airports Commission’s recommendation to build a third runway at Heathrow, but warned that there was still a long way to go before the plan becomes a reality.The British International Freight Association (BIFA) backed its call to push ahead with the expansion of aviation ...
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Gatwick says it's still in the expansion race as Heathrow welcomes commission backing
Gatwick Airport has vowed to continue to fight for expansion, while Heathrow has welcomed today’s Airports Commission report backing its plans to build a new runway.In a press release issued shortly after the Airports Commission report, Gatwick Airport chief executive Stewart Wingate refused to admit defeat.“Gatwick is still very much ...
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Jetpak flies in to the UK
Door to door courier Jetpak has extended its service to the UK, following its recent expansion into the Netherlands market. The Nordic-based company says that it will use commercial flights from and to London Heathrow, Birmingham, Manchester and Aberdeen to offer connections to over 140 airports in Europe and Scandinavia.Jetpak ...
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FedEx-TNT deal edges forward
FedEx’s potential $4.8bn takeover of TNT has edged further forward as the US express giant has filed regulatory paperwork to the European Commission.Over the weekend, the New York Stock Exchange-listed logistics company confirmed it had submitted the required filing to the EC to obtain regulatory clearance in connection with the ...
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CAAC denies Chinese cargo carrier merger remarks
The Civil Aviation Authority of China has denied remarks attributed to it that suggest the country’s leading air cargo carriers are set to merge.Yesterday, news agency Reuters carried reports suggesting that China's Civil Aviation Administration deputy director Zhou Laizhen had said that Air China Cargo, China Cargo Airlines and China ...
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Chinese cargo carriers set for merger?
Update: Three of China’s largest cargo airlines look set to merge in a move that would form Asia’s largest airfreight carrier.According to Reuters, China's Civil Aviation Administration deputy director Zhou Laizhen said on Wednesday night that Air China Cargo, China Cargo Airlines and China Southern Cargo were exploring merger options.No ...
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IATA announces Dublin as 2016 AGM venue, while new chairman takes over
IATA has unveiled its new chairman and announced the venue for its next annual general meeting.The association has announced that Aeromexico chief executive Andres Conesa has assumed his duties as Chairman of the IATA board of governors for a one-year term.Conesa succeeds Calin Rovinescu, chief executive of Air Canada, whose ...
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Oneworld alliance gets new chairman
The oneworld alliance has nominated Cathay Pacific’s Ivan Chu as its new chairman, taking over from IAG’s Willie Walsh.Chu, who is Cathay’s chief executive, will act as first amongst equals of the member airlines in his new role.Oneworld chief executive Bruce Ashby said: “We thank Willie Walsh for his leadership ...
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FedEx and TNT deal on track but clearance could take a year
TNT Express has provided an update on its planned $4.8bn takeover by FedEx, stating that the two companies are making timely progress on preparations for the offer but reiterated that it could take a year to gain regulatory clearance.TNT said that FedEx expects to submit a request for review and ...
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US cartel case settlements break the $1bn mark
SETTLEMENTS in the ongoing US air cargo antitrust litigation have exceeded the $1bn mark, following on from Eva Airways Corp reaching an agreement.US lawfirm Robins Kaplan revealed that the Taiwanese airline yesterday reached a $99m partial settlement to compensate victims of the alleged cartel.Hollis Salzman, co-lead counsel for the plaintiffs ...
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Cargolux reports 2014 profit decline
Cargolux recorded a decline in profits in 2014, despite an improvement in revenues, as impairment charges and antitrust actions took their toll on Europe’s biggest all-cargo airline.The Luxembourg-based company saw net profits slip to $3m in 2014 from $8.4m a year earlier, while revenues increased to $2.1bn last year from ...
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Cargolux announces lithium ion battery ban
Cargolux Airlines has temporarily imposed a ban on the transport of lithium ion batteries from May 1.The airline said it had decided to implement the ban after reviewing new information released by the Federal Aviation Administration, Boeing and the International Civil Aviation Authority regarding the effectiveness of the on-board fire ...