Business – Page 100
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Hurricane response helps boost ACS Q3 revenues
Broker Air Charter Service (ACS) saw revenues increase by 50% in the third quarter of the year, with growth across its three main divisions.The company reported total revenues of £144m for the third quarter with company growth and the response to hurricanes boosting performance.ACS group chief executive Justin Bowman said: ...
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LATAM cargo revenues in first rise for four years, but yields edge down
LATAM Airlines Group saw third quarter 2017 airfreight revenues rise by 2.5% to $272.2m, the first cargo revenue increase in four years.The revenue rise in the three months ending September was driven by a 3.5% increase in cargo traffic, although cargo yields “declined slightly” by 1.0% over same period prior ...
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Turkish Airlines third-quarter cargo results rocket up
Turkish Airlines moved 810,489 tons of cargo between January and September this year – an increase of 26.8% over the same nine months of 2016.The Far East, Europe and North America led the way in terms of rising volumes of cargo and mail carried, each with around 30% more than ...
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DHL forwarding's quarterly airfreight volumes up 8% as gross profit declines
Deutsche Post DHL Group (DP-DHL) registered positive results during the third quarter of 2017, with total revenue up 5.6% over like period last year, to €14.6bn.“We had a strong third quarter with record earnings yet again,” said Frank Appel, group chief executive of the Germany-based global mail and logistics company.“All ...
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SIA Cargo achieves massive turnaround
SIA Cargo, the freight arm of Singapore Airlines, has successfully turned the tables on its 2016-17 first-half loss of S$45m, posting an operating profit of S$32m for the same period of the 2017-18 financial year.The carrier attributed the result to higher volumes (up 6.1% year on year) as well as ...
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E-commerce leads Aramex profit growth
Middle East based forwarder Aramex said its net profits had increased by 13% in the third quarter of 2017 to AED 81.6m, up from AED 72.2m in 2016.Revenues in the third quarter, ending September 30, also increased 9% to AED 1,144m, compared to last year’s AED 1,050m. Were it not ...
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West Atlantic flies through choppy air
Swedish cargo airline West Atlantic confirmed that it has suffered financially this year, largely as a result of high start-up costs caused by delayed deliveries of aircraft needed to fulfil its new Royal Mail contract.In a statement on its website, the Gothenburg-headquartered airline said: "As a consequence, the company does ...
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ANA international freight soars by a third
A 31.1% year-on-year increase in international cargo revenue to ¥12.9bn helped Japan’s All Nippon Airways (ANA) to record profits in the first half of the financial year (April-September).International cargo benefited from a strong outbound performance to overseas destinations thanks to robust demand, especially for automobile parts to North America and ...
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NYK to become 100% owner of forwarder Yusen
Japanese shipping and transport company NYK is to acquire the remaining 41% stake of its freight forwarding subsidiary, Yusen Logistics, from minority shareholders. The transaction is expected to be completed by late March, 2018.In a statement, NYK said the move was part of its strategy to expand beyond its traditional ...
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American Airlines on the up
American Airlines achieved revenues of $10.9bn during the July to September period, up by 2.7% on the same three months of 2016.The giant US carrier also reported a third-quarter pre-tax profit of $1bn despite a challenging operating environment in the second half of 2017, not least because of the hurricanes ...
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Lufthansa sees cargo business continue to improve in third quarter
Lufthansa’s cargo and logistics division saw revenues and operating profits continue to improve during the third quarter of the year as the market maintained its upward trend and the carrier offloaded two MD-11Fs.The German airline’s logistics division, which includes Lufthansa Cargo, Jettainer, time:matters and an equity investment in AeroLogic, saw ...
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Opticoolers now available on Saudia flights
DoKaSch Temperature Solutions says its RKN and RAP Opticooler active containers are now available on Saudia Cargo flights following a master agreement signed with the German ULD provider.The Opticooler is designed to keep sensitive cargo such as pharmaceuticals cargo within a temperature range of 2° to 8° Celsius or 15° ...
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European airlines call for air traffic control strikes to be made illegal
The European Regions Airline Association (ERA) is calling on the European Union (EU) and national governments to put an end industrial action by air traffic controllers, which it says is hugely disruptive and costly to the industry.Its call comes after industrial action by air traffic controllers disrupted operations at several ...
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Profits surge at Air Partner
Aviation services group, Air Partner reported gross profit of £18.1m for the six months to 31 July, up 12.2% on the same period of 2016. The UK-based company said it reflected strong trading performance in its broking division.Underlying profit before tax was £4.1m, a year-on-year increase of 34.4% while the ...
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Atlas Air and Polar Air Cargo accuse unions of "illegal work slowdown"
Atlas Air and Polar Air Cargo Worldwide have accused unions of an "illegal work slowdown" and have filed a complaint with a US district court to stop the action.The airlines, part of Atlas Air Worldwide, said the International Brotherhood of Teamsters, the International Brotherhood of Teamsters, Airline Division, and Local ...
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ATSG to raise $200 million
Leasing and airfreight transport firm Air Transport Services Group is to offer $200 million-worth of convertible senior notes to institutional buyers. Final terms, including initial price and other terms will be determined at the time of pricing. The notes will mature in October 2024.The company also expects to grant the ...
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Forwarder Leman continues UK expansion with Maru deal
Denmark-based freight forwarder Leman has continued to expand its presence in the UK with the acquisition of Maru International for an undisclosed sum.Maru provides air and sea logistics solutions and also has a strong presence in the European road transport market from its offices in Dewsbury, Braintree and just outside ...
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Takeover of Kenyan perishables forwarders to go ahead, with conditions
Kenya’s competition watchdog has approved “with conditions” the takeover of two specialist perishables forwarders in the African country by European logistics giants Kuehne+Nagel (K+N) and Panalpina.The Competition Authority of Kenya has approved the acquisition of Air Connection by Panalpina Airflo Ltd, Panalpina Airflo BV and Panalpina Kenya Ltd, but ordered ...
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Air cargo up 11% in July, but signs that growth may have peaked
Air cargo traffic increased again in July, compared with a year earlier, but airline organisation IATA has warned that there are a growing number of signs that improvements may have peaked.In total, air cargo traffic in freight tonne km terms increased by 11.4% year on year in July, while supply ...
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Shipping doldrums hit German bank DVB but aviation remains stable
Volatile container and tanker shipping markets saw German finance house DVB Bank Group (DVB) register a 2017 half-year pre-tax consolidated net loss of €506.3m, while the demand forecast for the aviation markets “remains stable”.The specialist in international transport finance said: “Shipowners remain under pressure from low charter rates and competition ...