Business – Page 105
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News
E-AWB usage finally breaches 50% mark
Electronic Air Waybill (e-AWB) penetration finally breached the 50% mark in April as more than 730,000 of the digital documents were processed.The latest IATA figures show that April’s e-AWB penetration level on feasible trade lanes edged up by 1.3 percentage points compared with March to reach 50.7%, exceeding the 50% ...
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Goh Choon Phong new IATA chairman
Singapore Airlines chief executive Goh Choon Phong has become the 76th chairman of the IATA board of governors, effective June 6, succeeding International Airlines Group chief executive Willie Walsh in the role.Goh said: “While the industry’s global profitability may be strengthening, there is more work to be done as it ...
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Kalitta Air takes delivery of first GECAS-leased B747-400F
US freighter operator Kalitta Air has taken delivery of the first of two leased 747-400F factory freighters from GE Capital Aviation Services (GECAS), an Ireland-based aviation leasing and financing company.GECAS said that the aircraft delivery marked “a new milestone in the decade-long relationship of the two companies”.While GECAS has previously ...
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Atlas looks to raise funds through note sale
Atlas Air Worldwide Holdings is looking to raise $250m through the sale of convertible senior notes to repay borrowings and support future growth.In a stock exchange announcement, the company said the bond sale would see it offer senior notes due on June 1 2024 in an underwritten public offering.The company ...
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Industry-wide data platform an inevitability
The air cargo industry should develop a sector-wide data system if it is to meet shipper to demand for end-to-end supply chain visibility.Speakers at the innovation in air cargo session at Air Cargo Europe agreed that creating supply chain efficiencies through digital solutions would be a key demand from shippers ...
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Cargojet sees revenues improve on Air Canada deal
Freighter airline Cargojet saw revenues increase during the first quarter of the year but income was down.The Canadian airline saw first-quarter revenues improve by 13.3% year on year to C$87.1m, but earnings before taxes for the period declined by 35.6% on a year earlier to C$3.8m and net earnings dropped ...
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IATA's STB Cargo to push on industry transformation
IATA’s recently created Simplifying The Business (STB) Cargo project will aim to push industry transformation in the areas of visibility, processes and booking.Speaking at an Air Cargo Europe conference session, Celine Hourcade, head of cargo transformation at IATA, said STB Cargo had been developed out of the flagship IATA STB ...
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NewsAF KLM Cargo sees decline in Q1 revenues
Air France KLM saw revenues decline in the first quarter of the year despite an improvement in traffic.The Franco-Dutch airline saw first quarter revenues decline by 4.7% year on year to €504m, despite traffic for the period increasing by 0.5% to 2bn revenue tonne km.Cargo capacity at the airline group ...
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ATSG sees Q1 revenues improve on Pemco deal and Amazon ramp-up
ATSG saw revenues, earnings from continuing operations before taxes and net earnings improve during the first quarter of the year thanks to its acquisition of Pemco and the roll-out of its Amazon business.The aircraft lessor reported revenues for the period up by 34.1% year on year to $237.9m, earnings from ...
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NewsAir cargo demand growth reaches six year high
Air cargo traffic grew at its fastest rate since late 2010 in March as the industry continues to benefit from an uptick in world trade and export orders.The latest figures from airline body IATA show that in freight tonne km terms traffic increased by 14% year on year in March, ...
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Ceva sees revenues and volumes improve in Q1
Ceva recorded a loss in the first quarter of the year despite an improvement in revenues and airfreight volumes.The freight forwarder saw first-quarter revenues increase by 1.9% year on year to $1.6n, operating income was up to $8m from $4m a year earlier but it registered a net loss of ...
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NewsAmerican sees cargo revenues and traffic improve in Q1
American Airlines saw its cargo traffic and revenues increase during the first quarter of the year, but this was not enough to stop yields declining.The US airline, which recently won the Cargo Airline of the Year award, registered a 13.8% year-on-year improvement in first-quarter traffic to 619m cargo ton miles, ...
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Alitalia to enter into administration
Alitalia will make a formal request to enter into bankruptcy after employees last week rejected a rescue plan.The Italian flag carrier’s board of directors, which convened after a shareholder meeting, decided to proceed with administration in light of the “serious economic and financial situation of the company”, the shareholders’ unavailability ...
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UPS reports revenues growth but operating profits face headwinds
UPS saw revenues increase by 6.2% during the first quarter of the year but fuel costs and currency effects put pressure on operating profits.The US express and logistics giant saw first-quarter revenues increase to $15.3bn from $14.4bn last year, while operating profits declined by 2.4% on a year earlier to ...
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NewsLufthansa's cargo segment leads the way as it gets back in the black
Lufthansa’s cargo and logistics business returned to the black at an operating profit level in the first quarter as it led the company to its best performance for the period since 2008.The airline group’s logistics division, which includes Cargo, time:matters and other cargo related shareholdings, saw revenues increase by 18.5% ...
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Accenture to buy Seabury's aviation consulting businesses
Professional services company Accenture is to acquire the aviation consulting businesses of Seabury Group, the New York-based professional services firm focused on the aviation industry.Accenture said that the combination of Seabury’s corporate advisory and consulting businesses, together with the new owner's global capabilities, “will help the world’s leading airlines accelerate ...
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NewsCargolux sees profits tumble despite traffic growth
Cargolux recorded improvements in cargo traffic and tonnes flown last year, but these increases failed to stop profits from declining by more than 80%.Figures released by the airline show that last year it registered a 9.2% improvement in traffic to 7.5bn tonne kms flown (FTK) compared with 2015, while total ...
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Alitalia's future in balance as shareholders called in
The future of Alitalia is hanging in the balance after workers voted against a rescue deal on Monday (April 24).In response to the vote, the Italian airline's board has called a meeting of shareholders - including Etihad, banks UniCredit and Intesa as well as infrastructure firm Atlantia - to discuss ...
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Panalpina sees airfreight grow but profits under pressure
Panalpina has recorded an above market increase in airfreight demand but in contrast profitability was flat.The first-quarter figures released by the forwarder revealed that airfreight demand during the period increased by 8% year on year to 233,000 tons, driven by Far East trade lanes. This is ahead of the estimated ...
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NewsUnited records double-digit cargo revenue improvement in Q1
United Airlines recorded double-digit improvements in cargo revenues and traffic during the first quarter of the year.The busiest US cargo carrier saw first-quarter cargo traffic increase by 20.3% year on year to 748m cargo ton miles.Revenues also improved during the period but by the lower amount of 13.4% against a ...