Business – Page 109
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News
EQT Infrastructure completes CHEP acquisition
Swedish equity group EQT has completed its acquisition of CHEP Aerospace Solutions, the unit load device (ULD) management company.Switzerland-headquartered CHEP was sold to EQT by its Australia-based parent company Brambles, which established the enterprise in 2011 from the acquisition and integration of four leading ULD solutions companies.EQT Infrastructure II, an ...
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Local councils launch legal challenge to Heathrow's third runway plan
Heathrow Airport's plans for a third runway face a challenge in the courts after a coalition of local councils served legal papers on the UK government for "unlawfully supporting the expansion" of the UK's number one passenger and cargo hub.Hillingdon, Richmond, Wandsworth and Windsor and Maidenhead councils, together with environmental ...
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Only connect: air cargo connectivity means stronger trade growth
An IATA-commissioned study has established a clear link between air cargo connectivity and trade growth.Research by Developing Trade Consultants found that a 1% increase in air cargo connectivity is associated with a 6.3% increase in trade.The study, sponsored by the international airlines lobby, has also developed measures of key quality ...
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Aeroflot reports healthy nine-month figures
Russian flag-carrier Aeroflot group revenues increased by 23.2% year on year in the first nine months of 2016, while cargo revenue rose by 27.1% to 8.2bn roubles ($129.2m) as cargo and mail volumes rose by 24.1%.Shamil Kurmashov, PJSC Aeroflot deputy chief executive for commerce and finance, commented: “Our results for ...
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Airfreight faces risk of security slowdown, says IATA expert
Much of the emphasis in air cargo security has been to add yet further measures and could end up slowing the flow of airfreight around the world, an IATA expert told the Transport Security conference in London.Christian Piaget, IATA senior manager for cargo, customs and claims, said that while many ...
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Vladimir Zubkov is TIACA’s new secretary general
Vladimir Zubkov will be TIACA’s new secretary general, replacing Doug Brittin, who retires at the end of the year.Zubkov has more than 40 years’ experience in the air transport industry, including senior roles with the International Civil Aviation Organization (ICAO), and, most recently, as vice president of the Volga-Dnepr group ...
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IATA to launch e-AWB tool for forwarders
IATA will launch a new low cost online tool that is designed to allow small and medium sized freight forwarders to send and receive electronic shipment data, such as electronic air waybills (e-AWB).The platform allows users to create, send and manage air waybills, house bill and electronic consignment security declarations.It ...
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IATA launches tool to help defeat endangered wildlife smugglers (Video)
IATA has launched an airport wildlife trafficking assessment tool to help defeat smugglers of endangered species.The assessment tool, developed in partnership with the World Customs Organization (WCO) and with support from the USAID ROUTES Partnership, is now (November 2016) being piloted with WCO at Maputo International Airport in Mozambique.A global ...
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Intrepid orders B747-8Fs for long-term lease
Intrepid Aviation has switched an order for Boeing 777-300 aircraft to B747-800 freighters for lease on a long-term basis.The aircraft lessor said that it would switch two of six B777-300ER aircraft it has on order to two B747-8F aircraft to be delivered in 2017 and subject to long-term lease with ...
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NewsDP DHL: More work to be done on airfreight despite volume improvement
Deutsche Post DHL (DP DHL) has said there is more work to be done for its airfreight business despite the segment recording its first improvement in demand since the first quarter of last year.Speaking on an investor call shortly after the company’s third quarter results were announced, DP DHL chief ...
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ATSG Q3 revenues up but profits slide
ATSG saw profitability decrease in the third quarter of the year despite a boost in revenues as its Amazon deal affected the business.In the third quarter of the year, the Wilmington-based aircraft lessor saw net earnings from continued operations decrease to $2.1m from $6.3m a year earlier.The company said that ...
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SIA Cargo operating loss widens in the financial year's first half
Singapore’s SIA Cargo saw its operating loss widened by S$33m from S$12m to S$45m in the first half of the Asian carrier’s 2016-17 financial year.Freight carriage grew 7.3%, outpacing the capacity increase of 5.7%, resulting in an increase in cargo load factor by 0.9 percentage point to 61.6% for the ...
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Air Cargo Forum: Boeing lowers air cargo growth forecast but remains positive
Boeing has lowered its forecast for global air cargo demand over the next 20 years but it still expects roughly the same number of freighter aircraft to be required.Speaking at a press conference at the Tiaca Air Cargo Forum in Paris, Boeing Commercial Airplanes vice president of marketing Randy Tinseth ...
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Atlas reports third quarter loss but expects positive peak
Atlas Air Worldwide Holdings reported a loss in the third quarter of the year as a result of “non-deductible expenses” triggered by warrants granted to Amazon, but the company remains optimistic for the peak season.The aircraft lessor recorded a loss from continuing operations of $7.5m for the third quarter, compared ...
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Airlines group BARIG wants Frankfurt charges to be cut
Frankfurt-based airlines are calling for a reduction in airport charges for all airlines after low cost carrier Ryanair announced that it would start flying into Germany’s largest hub next summer.The Board of Airline Representatives in Germany (BARIG) wants “the fully equal treatment for all airlines at Frankfurt – newcomers and ...
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Investment fund buys ULD specialist CHEP
CHEP Aerospace Solutions, the Unit Load Device (ULD) management specialist, is being sold to EQT Infrastructure II of Sweden.Brambles, the Australian-based parent company of CHEP Aerospace Solutions, said that the transaction with the infrastructure fund will complete during November 2016.CHEP Aerospace Solutions offers pooling, management, maintenance and repair of ULDs ...
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NewsLufthansa's cargo business is in the red again
Lufthansa’s cargo and logistics division has slipped to its sixth quarterly operating loss in a row as market overcapacity and weak demand continued to blight financial performance.The German airline group’s logistics division, which includes Lufthansa Cargo, time:matters and other cargo related businesses, recorded a third quarter earnings before interest and ...
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E-commerce spurs Aramex growth
Middle East based logistics company Aramex saw revenues up 15% in the third quarter of 2016 to AED1.05bn but net profit was down 3% at AED72.2m compared with like period last year.However, for the first nine months of the year, net profit was up 16% to AED294.8m while revenue was ...
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IAG Cargo Q3 volumes up but revenues and yields down
IAG Cargo saw third quarter 2016 commercial revenues fall by 7% to €240m compared with the like period 2015.Adjusting the prior year's figures to reflect a directly comparable operation, commercial revenue decreased 6.5% versus last year at constant exchange.The airfreight arm of British Airways, Iberia, Vueling and Aer Lingus saw ...
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Asia air cargo – so far so good
There was a continued uptick in air cargo during September, although the future is clouded, says the Association of Asia Pacific Airlines (AAPA). Provisional figures show a further improvement with 5.3% growth in freight tonne kilometres (FTKs), despite prevailing weak trade conditions.The average international freight load factor increased marginally, by ...