Business – Page 103
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NewsDelta records first increase in quarterly cargo demand since 2015
Delta Air Lines has registered an improvement in quarterly airfreight traffic for the first time since the start of 2015.The Atlanta-based airline saw second-quarter cargo demand improve by 11.7% year on year to reach 554m cargo ton miles (CTM).It is the first time the airline has seen cargo traffic increase ...
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Cathay to buy partner DHL's stake in Air Hong Kong
Asian airline Cathay Pacific is to buy the 40% stake held in freighter carrier Air Hong Kong (AHK) by joint venture partner DHL, the German-owned global logistics and express parcels operator.Cathay Pacific currently owns 60% of the AHK stock.In a Hong Kong Stock Exchange filing, Cathay Pacific and DHL confirmed ...
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NewsAir cargo on the up in May, but growth could have peaked
Airfreight demand growth improved at a double-digit pace in May, but indicators suggest improvements have peaked.The latest statistics from airline association Iata show that air cargo demand in freight tonne km terms increased by 12.7% year on year in May, up from the 8.7% registered in April and well ahead ...
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Rhenus swoops on Australian forwarder
The Rhenus Group has signed an agreement to purchase Australian freight forwarder O’Brien Customs and Forwarding, giving it its own presence in the market for the first time.The O’Brien family business handles air and sea freight consignments and provides customs and warehouse services and is headquartered in northern Melbourne.Rhenus chief ...
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Kerry continues to build on China-Europe rail offering with shareholding in LPL
Kerry Logistics Network has acquired 50% of shares in Lanzhou Pacific Logistics (LPL) as it looks to further develop its China-Europe rail freight operations.Kerry Logistics will join China Railway Container Transport Company as a shareholder in LPL."The investment marks another strategic step in advancing Kerry Logistics’ expansion into the rail ...
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NewsNew rate structure for cargo tenants at Chicago O'Hare
Chicago’s O’Hare International Airport (ORD) is to have a new uniform rate structure for aeronautical real estate leases.With several cargo and hangar leases set to expire in May 2018, the Chicago Department of Aviation (CDA) has reached agreements with a dozen airline and cargo carriers for new ground and facility ...
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NewsTop 25 air forwarders 2016 revealed: DHL maintains top spot
DHL Global Forwarding, Kuehne+Nagel (K+N), DB Schenker and UPS maintained their position as the leading four airfreight forwarders in 2016, while DSV’s acquisition of UTi propelled it up the list (scroll to end for full list).The latest top 25 Global Freight Forwarders list from consultant Armstrong & Associates, based on ...
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Atlas: first Amazon freighter to enter service "in this quarter"
Atlas Air Worldwide Holdings (AAWW) expects to place its first freighter aircraft into service for internet retail giant Amazon “soon in this quarter”.President and chief executive Bill Flynn, announcing the US-based freighter lessor's second quarter 2016 results, said: “We have secured all of the conversion slots and the vast majority ...
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WCS17: IATA optimistic on growth but issues warning over protectionism
IATA director general and chief executive Alexandre de Juniac kicked off the 2017 World Cargo Symposium by speaking of the organisation’s optimism about demand growth but also warned that challenges remain.Providing a state of the industry outlook, de Juniac begin by outlining his “optimistic view” for future growth in air ...
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Brexit: the economic perspective
Brexit means Brexit, but will it be a hard, soft, or red white and blue Brexit, and what are economic risks?Britain’s departure from the European Union ─ set your calendar for March 2019 ─ was a key theme in ‘Navigating global trade in turbulent times’, a seminar organised by SEKO ...
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Brexit: the supply chain perspective
Britain leaving the European Union, or Brexit, will have a profound effect on UK-managed supply chains, with more paperwork, a rethink on hub locations, IT system challenges and a need to revisit existing contracts with suppliers and customers.But there are also opportunities, with Brexit providing the excuse for a totally ...
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IATA prioritises quality in difficult times
Speaking at The 10th annual World Cargo Symposium (WCS) being held in Berlin this week (15-17 March), the director general and CEO of IATA, Tony Tyler, has called for further transformation in the airfreight sector, and pointed to greater quality of service as what he believes should be the priority ...
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WCS17: Disruptors and Trump on the Abu Dhabi agenda
Transform today: shape tomorrow, that is the theme of IATA’s 11th World Cargo Symposium (WCS), which takes place in Abu Dhabi, March 14-16.After the success of Berlin in 2016, IATA wants to move the air cargo industry “from talk to action”.Three days of debate at the Abu Dhabi National Exhibition ...
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WCS17: Innovation, building windmills in Abu Dhabi
Fasten your cargo seatbelts, we’re heading for a digital tornado as the airfreight industry embraces technological change.That was the clear message from the horizon innovation forum held in Abu Dhabi on the eve of the opening of today’s IATA World Cargo Symposium 2017 at the ADNEC exhibition and conference centre.The ...
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WCS17: Optimism but beware potholes the size of a politician's ego
If you need one word to sum up the mood music of the first day of IATA’s World Cargo Symposium in Abu Dhabi, then that word is optimism, albeit with a few caveats circling overhead.The contrasting key factors discussed during the launch day’s plenary session included: trade protectionism, a growing ...
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Van de Stadt lands DVB Bank's global head of aviation role
DVB Bank, the specialist in international transport finance, has appointed Eelco van de Stadt as global head of aviation, with effect from the beginning of August 2017.Van de Stadt, currently DVB's head of aviation finance North & South America, replaces David Goring-Thomas who was recently appointed to join DVB's board ...
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GLS wins 25 year cargo concession in Liberia
Global Logistics Services Inc. (GLS) has secured a 25-year concession for air cargo operations at Liberia’s sole international airport, Roberts International (ROB).The agreement, passed into law by the country’s legislature, makes GLS the first Liberian company to own an operating concession in the country’s 169-year history.GLS, which currently handles up ...
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Qatar Airways set to move on a 10% stake in American Airlines
Qatar Airways could be set to invest more than $800m in a 10% stake in American, an airline that has accused the Middle Eastern carrier of benefitting from state handouts.In a stock exchange filing, the US carrier said it had received an “unsolicited notice” from Qatar Airways of its intention ...
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GECAS plans to convert a further 30 B737-800s into freighters
GE Capital Aviation Services (GECAS) is planning to convert a further 30 Boeing 737-800s into freighters.GECAS launched the 737-800 freighter programme with Aeronautical Engineers (AEI) in 2015 and Boeing in 2016. Since then GECAS has provided each programme with a prototype aircraft for modification at separate conversion facilities in Miami ...
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FedEx reports record Q4 performance
FedEx has reported record fiscal fourth quarter results thanks to its acquisition of TNT, higher base rates and increased package volume.The express giant saw fiscal fourth-quarter revenues increase by 20.7% year on year to $15.7bn, its operating income for the period was up 4.6% to $1.5bn and net income increased ...