Business – Page 112
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News
Pelican signs up new distribution partners in Asia
Pelican BioThermal, a provider of temperature-controlled packaging solutions designed for the life sciences industry, has expanded its presence in Asia by signing up two new distribution partners in the region.It has joined forces with Pharmaserv Express of the Philippines and CMC Element of China.Pharmaserv Express transports pharmaceutical products in the ...
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Lufthansa downgrades profit expectations
German flag-carrier Lufthansa has reported provisional figures that suggest the airline made revenue of €15bn (S16.6bn) in the first half of this year, down from the January – June 2015 figure of €15.4bn ($17bn).Its adjusted EBIT (earnings before interest and taxation) of €529m ($584m) earned in the first half of ...
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NewsAirfreight volumes on the up for K+N
Logistics services giant Kuehne+Nagel (K+N) has reported its half-year results for the six-month period ending 30 June.The Switzerland-headquartered company said that while net turnover fell year on year from CHF8,225m ($8,366m) to CHF8,147m ($8,287m), gross profit rose by 8% compared to the first half of 2015, improving from CHF3,018m ($3,070m)to ...
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Terrorism and falling yields dent airline confidence
Airline finance chiefs and heads of cargo said that they do not expect profits to improve over the next 12 months, according to IATA’s latest quarterly survey of airline business confidence.The results, based on a survey carried out in early July, also show that industry profitability fell slightly year-on-year during ...
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IATA and FIATA hail partnership of equals in new-look agency programme
The International Air Transport Association (IATA) and the International Federation of Freight Forwarders Associations (FIATA) have unveiled long-awaited reforms to the IATA Cargo Agency Program, promising to treat forwarders as equals alongside airlines.Following a review initiated in 2012, the new IATA-FIATA Air Cargo Program (IFACP), signed today by IATA director ...
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Air industry to raise its game in Africa
The International Air Transport Association (IATA) and The African Union Commission (AU) have agreed a memorandum of understanding (MoU) to improve air transport.Signed in Geneva by IATA director genera and chief executive, Tony Tyler and the AU’s commissioner for infrastructure and Energy, Dr. Elham Mahmoud Ahmed Ibrahim, it aims to ...
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Qatar becomes cargo carrier number three
Qatar Airways Cargo became the third-largest cargo operator in the world in October 2015, said the Middle East carrier in its 2015/16 annual report.In what it described as a record year, Qatar increased its dedicated freighter destinations to 54, adding Dallas, Budapest, Prague, Ho Chi Minh City, and New York ...
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News
E-AWB penetration continues to rise in May
Electronic-air waybill (e-AWB) usage remained on a growth trajectory in May, after the surprise drop-off in penetration in March.Figures from IATA show that in May e-AWB penetration reached a new record of 39%, compared with 38.3% in April.While there was an increase, question still remain as to whether usage levels ...
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FedEx boosted by e-commerce and lower fuel costs, commits to six more freighters
Express services giant FedEx has reported on its fourth-quarter results for its 2016 fiscal year (three months ending May 31), as well as its full fiscal year results.Revenue rose year on year in the results for both the fourth-quarter (up to $13bn from $12.1bn in the same prior year quarter) ...
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Volga-Dnepr Group inks financial accord with Sberbank
Russian airline enterprise Volga-Dnepr Group agreed a new strategic cooperation agreement with Sberbank, Russia’s largest bank, at the recent St. Petersburg International Economic Forum.The deal was inked by Maxim Poletaev, first deputy chairman of the Executive Board of Sberbank, and Alexey Isaikin, president of Volga-Dnepr Group.Volga-Dnepr Group has confirmed through ...
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Lufthansa Cargo to shed 800 jobs worldwide
Lufthansa Cargo is to shed up to 800 jobs worldwide in order to cut costs, management at the German carrier have announced.As part of its "Cargo Evolution" plan the German cargo carrier said it aimed to reduce the number of full time employees by between 700-800 positions, a move that ...
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Qantas completes share buy-back
The Qantas Group has completed the $500m share buy-back announced at its half year results in February 2016.Combined with the $505m capital return and associated share consolidation completed on 6 November 2015, Qantas Airways ordinary shares on issue have decreased by 12.6% since 30 June 2015 and the group has ...
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News
Venezuela blocking $3.8bn in airline funds says IATA
Venezuela and Nigeria top an IATA list of five countries blocking the repatriation of airline funds, a global problem which exceeds $5bn in total.IATA has called on governments to respect international agreements obliging them to ensure airlines are able to repatriate their revenues.According to statistics issued by IATA, Venezuela is ...
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IATA urges greater co-operation to counter terror threat
IATA, at its 72nd Annual General Meeting (AGM), has unanimously adopted a resolution that denounces terrorism and calls for intensified cooperation among governments as well as with the air transport industry.The resolution calls on governments and the air transport industry to work in partnership among themselves and with airlines to ...
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Banks expand ATSG's secured credit facility
US freighter lessor Air Transport Services Group (ATSG) has obtained commitments for an expansion of the revolver portion of its secured credit facility with a consortium of banks led by SunTrust by $100m, to $425m.ATSG, which in March signed a deal with internet retail giant Amazon to operate an air ...
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Website launch to fill cargo charters' empty legs
A new website for the worldwide aviation charter market is designed to allow the operators and brokers to list their empty leg flights in the search for return loads.The founder and brainchild of Flyemptyleg.com, Paul Ludick, said: “It’s about time that charter companies are being allowed and supported to promote ...
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Shipper heavyweights join TIACA advisory committee
Industry association TIACA is expanding its Shippers' Advisory Committee by appointing a cross-section of influential global air cargo customers.Representatives from Chanel Fragrances and Beauté, Ericsson, and Sandvik Machining Solutions will join the committee, which is chaired by Lars Droog, manager of supply chain and general affairs with Tosoh Corp, the ...
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NewsASL confirms purchase of TNT Express airline operations
ASL Aviation Group of Ireland has acquired the airline operations of TNT Express, comprising TNT Airways in Belgium and Pan Air Líneas Aéreas in Spain.The two airlines are to be renamed ASL Airlines Belgium and ASL Airlines Spain respectively, bringing the number of airlines in ASL's portfolio to nine.ASL’s offer ...
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HNA looks to tap into Portuguese airline
Chinese conglomerate HNA Group, which owns ground handler Swissport, is preparing to take a stake of up to 20% in Portuguese national airline TAP, according to French news agency AFP.It is reported that HNA will buy an initial 7% stake in Atlantic Gateway, the private consortium that owns 61% of ...
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Asian lessor BOC Aviation to list on Hong Kong with IPO
Aircraft lessor BOC Aviation is to list its shares on the main board of the Hong Kong Stock Exchange after launching a US$1.1bn initial public offering (IPO).The HK$42.00 price per share will raise net proceeds of approximately US$547m for Singapore-based BOC Aviation and a similar amount for Bank of China, ...