Business – Page 114
-
News
LATAM cargo revenues go south
Cargo revenues at South America’s LATAM Airlines Group dropped by 26.8% in the final quarter 2015, driven by a 13.4% decline in cargo traffic and a 15.4% decline in cargo yields over the like period in the prior year.The Chilean-headquartered carrier stated: “During the quarter, cargo demand remained weak, especially ...
-
News
Cathay cargo revenues fall 9% in 2015
Cathay Pacific’s group cargo revenue fell 9% in full year 2015 to HK$23.1bn, reflecting a reduction in fuel surcharges due to lower fuel prices.The Hong Kong-based combination carrier said: “Air cargo demand, which came under pressure during the second quarter of the year, remained weak in the second half.”Cargo capacity ...
-
News
DHL forwarding looks to a better year ahead after a 'transitional' 2015
DHL Global Forwarding is hoping a new IT system will help improve performance in 2016 after it recorded declines in airfreight volumes, revenues and an earnings before interest and tax loss (ebit) in 2015.Deutsche Post DHL’s Global Forwarding, Freight division recorded a 0.2% decline in revenues to €14.9bn, while ebit ...
-
News
TIACA creates new shipper advisory group
TIACA has created a new Shippers’ Advisory Committee to be chaired by Lars Droog of Tosoh Corporation.The new group aims to make improvements to the air cargo supply chain with the interests of the shipper in mind.“The voice of the shipper is all too often missing from the global conversation ...
-
News
Turkish Airlines sees cargo revenues slide despite improved demand
Turkish Airlines recorded a decrease in revenues generated by its cargo division despite an increase in demand.For the full-year 2015, Turkish Airlines recorded a 3.9% year-on-year decline in cargo revenues to $935m, with both its bellyhold and freighter services contributing towards the decline.Meanwhile, its cargo and mail traffic climbed by ...
-
News
Slow start for e-AWB take-up in January
Electronic air waybill (e-AWB) penetration got off to a sluggish start in January, with a 0.8% increase on December 2015.Latest IATA statistics for January 2016 show that the use of e-AWB among its member airlines stood at 37.2%, versus a 56% target for the end of this year.Despite missing the ...
-
News
IAG Cargo reports 'challenging' 2015
IAG Cargo recorded a 3.2% rise in unadjusted 2015 full-year commercial revenue to just over €1bn as “challenging” market conditions saw like-for-like overall yield down 4% on prior year due to flat volumes while capacity grew by 3%.However, after adjusting the prior year's figures to reflect a directly comparable operation, ...
-
News
Cargo data is an IATA focus at the World Cargo Symposium in Berlin
Berlin is the host city for the 10th World Cargo Symposium, March 15-17, and the ‘value of air cargo’ will be the conference theme at the InterContinental Hotel venue.Glyn Hughes, IATA’s global head of cargo, said that the industry needs to make better use of cargo data, with a focus ...
-
News
Solid year-end quarter for Atlas
US-based freighter lessor Atlas Air Worldwide Holdings (AAWH) saw “solid peak-season volumes and yields, supported by continued e-commerce growth” in the fourth quarter of 2015 although it reported a net income loss of $37.5m due to a litigation settlement.In January this year, the group’s Polar Air Cargo subsidiary reached a ...
-
NewsOperating profits slide at Air France KLM's cargo division
Air France KLM saw its cargo division’s financial performance worsen last year as it faced weak demand conditions and continued with restructuring.The Franco-Dutch airline group saw revenues at its cargo division decline by 9.5% year-on-year in 2015 to €2.7bn, while operating profits declined by 15.6% on 2014 levels to a ...
-
News
TNT returns to the black in the fourth quarter
Express delivery firm TNT returned to the black during the fourth quarter of last year on the back of revenue growth and cost cutting measures.The Amsterdam-headquartered company, which is the process of being taken over by FedEx, reported fourth-quarter revenues of €1.9bn, up 4.1% compared with the same period in ...
-
News
Cargo partly to blame for low profitability at Asian carriers
Cargo is one of the main reasons carriers based in Asia continue to suffer from lower profitability levels than competitors from most other regions of the world.Speaking at the Singapore Airshow Aviation Summit, IATA chief executive and chairman Tony Tyler said the overall airline industry was expected to return profits ...
-
News
Profits up at lessor Air Castle as it continues to reduce freighter fleet
Aircraft lessor Air Castle, which hit the headlines with the lease of an aircraft to CargoLogicAir last year, saw a double-digit increase in profits in 2015 despite revenues remaining flat.AirCastle, which includes 11 freighters in its fleet of 162 aircraft, saw net income for 2015 increase by 20.7% year on ...
-
NewsDSV sees airfreight demand grow ahead of market while profits soar
The first of the major European freight forwarders has reported its 2015 full-year results, with DSV recording ahead of market airfreight growth and increases in profits and revenues.The Danish forwarder, which in January received final regulatory clearence for the takeover of UTi, recorded a total revenue increase of 4.7% year ...
-
News
Freighter lessor ATSG upbeat on 2015 results
US-based freighter lessor Air Transport Services Group (ATSG) said that its financial results for 2015 are “likely to exceed management’s earlier guidance” due primarily to better-than-expected results from its airline operations in the fourth quarter.ATSG now projects that its earnings before interest, taxes, depreciation and amortization (EBITDA) will likely be ...
-
News
Damco back in profit for 2015
Damco, the freight forwarding arm of Danish maritime giant AP Moller-Maersk (APM), moved from an underlying $225m loss in 2014 to an underlying $15m profit in 2015 as its airfreight volumes fell by 4%.“Productivity improvements, overhead cost reductions and growth in supply chain management activities were the primary drivers behind ...
-
News
SIA Cargo Q3 profits down despite demand jump
Singapore Airlines Cargo saw operating profits decline in its fiscal third quarter despite an increase in demand.SIA Cargo recorded an operating profit of S$2m during the October-December period compared with a S$17m profit during the same period in 2014.It said the decline was down to yields declining by 13.5% as ...
-
News
Difficult end of year for Latin American carriers
Latin American airlines saw cargo demand slip by 425m freight tonne km in 2015 as weakening economic conditions continued to affect airline performance.The end-of-year figures from the Latin American & Caribbean Air Transport Association (ALTA) show that cargo demand for its 11 member airlines ended the year 8.2% down on ...
-
News
So near and yet so far: airfreight industry misses e-AWB target
As expected, the air cargo industry fell short of meeting IATA’s end of year target for e-air waybill (e-AWB) market penetration, but the organisation remains optimistic about prospects for 2016.IATA today announced that the airfreight industry managed to achieve an e-AWB penetration of 36.4%, short of its 45% target for ...
-
News
RiverOak applies for Manston airport reopening
US hedge fund RiverOak has made a pre-application inquiry to UK planning inspectors for a Development Consent Order (DCO) to reopen Manston airport in the south-east of the country, primarily as a freight gateway.The UK's Planning inspectorate confirmed that it had received a pre-application inquiry from RiverOak in early January. ...