All Business Articles – Page 72
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Airfreight growth, but yields decline
AIR CARGO executives and airline financial officers (CFO’s) are sanguine about market conditions for the remainder of this year, says IATA.A survey conducted by the association shows businesses have witnessed growth in airfreight volumes over recent months, which is consistent with freight data and more than half of the respondents ...
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Virgin Atlantic’s record air cargo load factor
VIRGIN ATLANTIC CARGO is celebrating achieving a turnover of £225.3m in 2013, along with a record load factor of 76 per cent – the highest ever in the carrier’s 30-year history.Bucking the trend, Virgin’s tonnage was five per cent higher (224,500) in a global airfreight market that declined by 0.5 ...
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Delta’s cargo drops, but revenue profits soar
DELTA AIR LINES posted record profits of US$ 8.9bn, despite its cargo revenue falling by nine per cent ($21m) driven by lower freight volumes and lower yields.The impressive results belies the fact that the US carrier was forced to cancel more than 17,000 flights due to severe weather in January ...
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Winter weather hits UPS operating profits
UPS took a $200m hit in operating profits for the first quarter of 2014 due to severe snowfalls in the US which saw business to business shipments slow as “manufacturers, distributors and retailers closed shop”.But the US-based international parcels giant reported signs of recovery and faster growth in Europe while ...
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TIACA launches educational workshop
THE International Air Cargo Association (TIACA) has launched an air freight-specific educational workshop aimed at attracting and cultivating the next generation of industry leaders.The first three-day course will take place near Amsterdam’s Schiphol Airport between June 25-27.Around 25 students are expected to attend from a wide cross section of the ...
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Air cargo to play a big role in Turkey's future
AIRFREIGHT has a key role in Turkey’s ambitious programme to be the world’s tenth largest economy by 2023, the 100th anniversary of the founding of the republic.Transportation, including the airport and aviation, is one of the six economic pillars supporting the 2023 Vision set out by Turkish Prime Minister Recep ...
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Qantas Freight launches new product range
QANTAS Freight has launched Q-GO, described by the Australian flag carrier as ‘a revitalised suite’ of airfreight products.“It is a simplified product range, bringing together our domestic and international product offering for the first time,” insists Alison Webster, executive manager for freight.“Now, whether a shipment is moving internationally, domestically or ...
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ABC celebrates with improved results
AIRBRIDGECARGO Airlines (ABC), Russia’s largest freighter airline has commenced its 10th anniversary year with the strongest first-quarter in its history, with volume up nine per cent to 86,500 tonnes.ABC says the improvement reflects market advances in Russia, Europe, the Americas and Asia Pacific as well as the success of its ...
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Better year for Cargolux than expected
DESPITE budgeting for a US$27.1million loss last year, all-cargo airline Cargolux earned a full year net profit of US$8.4 million last year compared to a $35.1 million net loss in 2012.Total revenues during the 12 months rose 14.4 per cent to $1,988.5m from $1,738.9m in 2012.Tonnes sold increased 16.7 per ...
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Shippers support Heathrow's cargo hub role
LONDON Heathrow's role as an air cargo hub for UK PLC needs to be safeguarded in the political debate over the country's plans for future airport capacity.The Multimodal conference audience in Birmingham heard from a shipper, freight forwarder and airline that the air cargo hub concept plays a vital part ...
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Solid first quarter for air cargo
MARCH completed a solid 2014 first quarter of growth for the world’s air cargo business with a like period volume growth of nearly 6.7 per cent versus 2013, according to WorldACD Market Data.A US dollar yield drop versus the first three months of 2013 was limited to 2.6 per cent, ...
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Atlas places two B747-8Fs in ACMI with DHL Express
ATLAS AIR Worldwide has placed two B747-8 freighters into ACMI service for DHL Express.The pair will be operated by Atlas Air in Polar Air Cargo Worldwide's transpacific express network under an ACMI arrangement for DHL Express and Polar's other customers.The aircraft replace two B747-400 freighters currently in ACMI service for ...
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Air cargo market levels off, notes IATA
AIRFREIGHT markets were up 5.9 per cent in March compared to a year ago and capacity grew 3.4 per cent, reports IATA.Despite this improvement, air cargo volumes have been basically flat since the beginning of this year, says the association.“This plateau in volumes is consistent with the recent pause in ...
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Lufthansa Group's sound quarter
THE Lufthansa Group is anticipating annual 2014 operating profits of between €1.3bn and €1.5bn after an operating result of minus €245m for the first quarter of 2014, a period that is traditionally the weakest of the year.The net result for the quarter amounted to minus €252m, a substantial €206m improvement ...
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Lacklustre cargo dampened Asia Pacific carriers
WEAK airfreight markets contributed to a 55 per cent plunge in 2013 net earnings for Asia Pacific airlines to $2.5bn.The Association of Asia Pacific Airlines said that full year profitability succumbed to widespread yield pressures arising from stiff market competition and “lacklustre air cargo demand”.AAPA’s preliminary financial performance figures show ...
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SIA Cargo cuts year end operating loss to S$100m
SINGAPORE AIRLINES CARGO recorded a S$100m operating loss for the 2013-14 financial year, as efforts to better match capacity with demand saw a reduction from the S$167m loss in prior year.The SIA Group reported an impairment of S$293m on four surplus freighters that have been removed from the operating fleet ...
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Emirates profits soar
THE Emirates Group recorded its 26th consecutive year of profits in 2013.The company posted a US$1.1bn profit – 32 per cent up on the previous year.Its revenue climbed to $23.9bn, 13 per cent higher, despite competitive pressures and the slow global economic recovery.Cargo’s contribution was impressive, with Emirates SkyCargo for ...
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One Question
John Lloyd, director of cargo, Virgin Atlantic, answers: "THERE is a small improvement in the market that we hope will be sustained throughout this year. Although the most recent downturn was once again challenging, we’ve been through similar cycles in the past and every time we come through it I ...
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A mature response
WE HAD a dig at Cargolux in our last issue, relaying information passed exclusively to my colleague Thelma Etim that all is not well at the now partly Chinese-owned all-cargo airline.Expecting some sort of angry, waspish response, I was instead surprised and heartened by Cargolux’s positive attitude towards Thelma’s investigative ...
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Challenging market conditions hits IAG Cargo’s revenue
IAG CARGO has blamed weak market conditions for its drop in revenue during the first quarter of this year.The freight arm of British Airways and Iberia revealed commercial revenue (flown revenue plus fuel surcharges) dropped to €250m from the €270m recorded during the same period in 2013.Although cargo tonne kilometres ...