Business – Page 111
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News
IATA seeks US anti-trust immunity to maintain Venezuelan airlinks
IATA has filed a request for antitrust immunity with the US Department of Transportation which would allow airlines to discuss options to maintain connectivity to Venezuela whose government refuses to release $3.8bn in airline funds.Alexandre de Juniac, IATA’s director general and chief executive, said: “The economic situation in Venezuela is ...
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NewsFedEx sees profits improve despite TNT integration costs
FedEx saw first quarter revenues increase by double-digit levels during its fiscal first quarter while net income also improved as its acquisition of TNT Express was included in its results for the first time.The parcel giant saw fiscal-first quarter revenues increase by 19.5% year on year to $14.7bn, while its ...
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IATA urges governments to sign up to aviation carbon offset scheme
IATA has urged governments to sign up to a newly proposed aviation carbon offset agreement at ICAO’s annual meeting later this month.IATA said the Carbon Offset and Reduction Scheme for International Aviation (CORSIA) draft negotiating text, published earlier this month, “broadly aligns” with the aviation industry’s call for a mandatory ...
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GECAS signs purchase-and-leaseback deal with Korean Air for five B777Fs
GE Capital Aviation Services (GECAS) has signed a purchase-and-leaseback transaction with Korean Air Lines for five new Boeing 777 freighters as part of the Asian carrier’s fleet renewal programme.The commercial aircraft leasing arm of GE said that deliveries of the GE90-powered aircraft freighters are scheduled in late 2016 and 2017.Korean ...
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TIACA's Brittin to retire at end of 2016
Doug Brittin, TIACA’s secretary general since 2013, is to retire from the air cargo industry association at the end of this year, sparking a search to appoint his successor.TIACA chairman Sanjiv Edward said in a message to members: “Doug has done a great job since joining us, and while we ...
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Tighten up enforcement or face battery ban, says freight industry
Freight industry and manufacturing groups have written to governments worldwide to demand stricter enforcement of international regulations on the transport of lithium batteries.The International Air Transport Association (IATA), the Global Shippers Forum (GSF) and the International Air Cargo Association (TIACA), together with the US Rechargeable Battery Association (PRBA), the European ...
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Difficult cargo markets hit Qantas Freight
Qantas Freight, the cargo arm of the Australian flag carrier, reported a 44% fall in full year earnings before interest and tax to A$64m, reflecting “difficult global cargo markets and the end of favourable legacy agreements with Australian Air Express”.Commenting on the airline’s full year results ended June 30, group ...
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Jet-setters lift ACS business
London-based Air Charter Service had its best month on record in July, despite a fall in UK cargo business.Group chief executive, Justin Bowman said the company had organised more than 1,100 charters in the month, or one every 36 minutes.He added: “Full cargo charter numbers did appear to suffer a ...
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CBP to make use of IATA’s Cargo-XML messaging standard
IATA has confirmed that its IATA’s Cargo-XML messaging standard is to be used by US Customs and Border Protection (US-CBP) to collect advance data on US export shipments.The new data format will, the association said, make electronic communication between the CBP’s Automated Commercial Environment (ACE) system, airlines and other air ...
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Cargo revenues down at ANA as currency and oversupply hit results
ANA's cargo business recorded a double-digit decline in airfreight revenues during its first fiscal quarter despite an increase in traffic.During its fiscal first quarter ended June 30, the Japanese carrier saw airfreight demand increase 16.2% year on year to 1.1bn freight tonne km, while revenues declined by 23.6% on a ...
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Airfreight demand on the increase but still outpaced by capacity rise
Global airfreight demand in June saw a 4.3% year-on-year rise in freight tonne km (FTK), the fastest pace of growth in 14 months.However, freight capacity measured in available freight tonne km (AFTKs) increased by 4.9% year-on-year, keeping yields under downward pressure.According to the latest monthly market analysis by airline association ...
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Revenues down but operating profit surges for DP-DHL's forwarding arm
Deutsche Post DHL Group’s (DP-DHL) freight forwarding arm saw 2016 second quarter revenues fall by 9.3% to €3.4bn, versus €3.8 in like prior year period 2015, while divisional operating profit improved by 72.5% to €69m.Adjusted for negative currency effects and lower fuel surcharges, the Global Forwarding, Freight division’s revenue declined ...
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NewsLufthansa's cargo business remains in the red
Lufthansa’s cargo division recorded its fifth quarterly operating loss in a row as competition on global airfreight markets remained “intense”.The German airline group’s logistics business, which includes Lufthansa Cargo, ULD specialist Jettainer and its other investments, recorded a 16.4% year-on-year decline in second-quarter revenues to €496m.Earnings before interest and tax ...
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Qatar investment arm takes stake in St.Petersburg's Pulkovo airport
Fraport Frankfurt Airport Services Worldwide (Fraport) and its consortium partners at Russia’s Pulkovo Airport in St. Petersburg are to sell part of their shares in Thalita Trading to Qatar Investment Authority (QIA).Thalita is the parent company of Northern Capital Gateway consortium which has the 30-year concession for operating Pulkovo Airport ...
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Qatar Airways ups stake in IAG to 20%
Middle East gulf carrier Qatar Airways has increased its shareholding in IAG, the parent group of British Airways and Iberia, to 20.1%, saying that it does not intend to increase its stake further "unless there are material changes to the current situation".This latest move follows a gradual stakebuilding by Qatar ...
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NewsIAG reports double-digit cargo revenue decline despite demand increase
IAG recorded a double-digit percentage decline in cargo revenues during the second quarter of the year despite an increase in demand during the period.The British Airways, Iberia and Aer Lingus owner this morning announced second-quarter cargo revenues of €241m compared with €274m during the same period last year, representing a ...
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JAL's international cargo revenues plunge 32.6% in the first quarter
Japan Airlines (JAL) recorded a 32.6% year on year drop in international cargo revenues to ¥9.9bn in the three months ended June, due to a decline in demand on transpacific routes and other sectors.The Japanese flag-carrier also recorded a 4.1% year-on-year decrease in cargo volumes, measured in revenue cargo ton ...
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NewsAir France KLM Cargo remains in the red
Air France KLM’s cargo business remained in the red during the first half of the year but the phasing out of freighters has helped improve performance compared with a year earlier.The Franco-Dutch airline group’s first-half figures for the cargo business show an operating loss of €116m against a loss of ...
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DHL to surf US e-commerce boom with $137m investment
Deutsche Post DHL Group (DP-DHL) has announced a $137m investment plan for the US domestic and cross-border e-commerce market.The German-headquartered logistics group said that its objective is to exploit the global business to consumer (B2C) e-commerce market for shipments crossing borders which is expected to grow from $400bn today to ...
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Panalpina airfreight volumes rise in difficult market
Panalpina has reported on a challenging six months of operations for its airfreight arm, and right across its business.Airfreight volumes rose by 8% year on year over the first six months of 2016, although the market had – the Switzerland based logistics player said – shrunk by 3%.However, much of ...