Business – Page 123
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News
FedEx and TNT deal on track but clearance could take a year
TNT Express has provided an update on its planned $4.8bn takeover by FedEx, stating that the two companies are making timely progress on preparations for the offer but reiterated that it could take a year to gain regulatory clearance.TNT said that FedEx expects to submit a request for review and ...
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US cartel case settlements break the $1bn mark
SETTLEMENTS in the ongoing US air cargo antitrust litigation have exceeded the $1bn mark, following on from Eva Airways Corp reaching an agreement.US lawfirm Robins Kaplan revealed that the Taiwanese airline yesterday reached a $99m partial settlement to compensate victims of the alleged cartel.Hollis Salzman, co-lead counsel for the plaintiffs ...
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Cargolux reports 2014 profit decline
Cargolux recorded a decline in profits in 2014, despite an improvement in revenues, as impairment charges and antitrust actions took their toll on Europe’s biggest all-cargo airline.The Luxembourg-based company saw net profits slip to $3m in 2014 from $8.4m a year earlier, while revenues increased to $2.1bn last year from ...
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IAG Cargo Q1 revenues down, but load factors up
IAG Cargo reported a 2015 first-quarter decline in revenues of just over one per cent on the back of a capacity reduction programme and a resultant volume decrease.During the first three months of the year, the British Airways and Iberia cargo division saw revenues decline by 1.6 per cent on ...
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Lufthansa delays the construction of new Frankfurt cargo centre
Lufthansa has delayed its planned investment in a new cargo centre at Frankfurt airport for at least two years as the group scrutinises its investment plan.At this week's Lufthansa Group general meeting the supervisory board of the Deutsche Lufthansa was informed of the decision to delay construction of the LCCneo ...
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TIACA promotes phased approach to advance data regulations
Regulators must continue to work closely with all members of the air cargo supply chain to ensure impending advance data regulations “enhance security without impeding cargo flows,” according to a new position paper from TIACA.Pre-loading advance cargo information (PLACI) initiatives undertaken by the US, European Union, and Canada since the ...
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ACS sees 2014 cargo recovery as revenues surge
Air Charter Service (ACS) reports an “extremely successful 2014” for all three of its divisions.Chris Leach, chairman of the UK-headquartered broker, observed: “The figures across the board are extremely pleasing. Every department – private jets, commercial airliners, group travel and cargo – grew in terms of revenue and number of ...
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Cargolux announces lithium ion battery ban
Cargolux Airlines has temporarily imposed a ban on the transport of lithium ion batteries from May 1.The airline said it had decided to implement the ban after reviewing new information released by the Federal Aviation Administration, Boeing and the International Civil Aviation Authority regarding the effectiveness of the on-board fire ...
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No update on FedEx deal as TNT reports Q1 loss
TNT Express was unable to provide any updates on its potential acquisition by FedEx as it announced a first quarter loss despite an improvement in revenues.The integrator reported a 1.3% year-on-year increase in first quarter revenues to €1.6bn, but operating income for the period slipped to a €11m loss from ...
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AN-124 paint job to save $100,000 in fuel per year
A fresh lick of paint for an An-124-100 will give Volga-Dnepr Airlines an expected fuel saving of over $100,000 a year.The freighter will be painted using a leading durable coating technology to increase the aircraft’s aerodynamic qualities.Vladimir Drebnev, senior engineer, continuing airworthiness at Russian-based Volga-Dnepr, stated: “The base coat/clear coat ...
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FedEx-TNT deal to create third force in express
FedEx’s planned takeover of rival carrier TNT would create a third force in the express market – and unlike UPS’ attempted takeover 2½ years ago, it would succeed, the leaders of the two companies predicted at a press conference this morning.The acquisition would bring TNT’s “exceptional” road platform into the ...
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Panalpina airfreight volumes hit by lower automotive
Panalpina’s airfreight volumes grew one per cent in the 2015 first quarter to 205,000 tons - against an estimated market growth of three to four per cent - due mainly to lower throughputs in the automotive sector. Despite the airfreight result, the Switzerland-based global logistics player saw group consolidated profit ...
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Freight bounce for Air Partner
UK-based aviation charter specialist Air Partner saw full year group revenues fall 9.2 per cent to £192.1m and underlying profit before tax down from £4.1m to £2.6m for the twelve months ended January 2015.However, investment in the freight division “has started to show returns with excellent improvements in sales and ...
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TNT air fleet purchasers waiting in the wings
FedEx has already identified potential purchasers of TNT Express’ air operations, says FedEx chief executive David Bronczek.He was speaking at a press conference to announce US-based FedEx’s $4.8bn takeover of European rival TNT Express in a deal set to complete in 2016, subject to regulatory approval.However, it is not yet ...
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ULD pioneer Jim Jackson enters TIACA's Hall of Fame
James ‘Jim’ Jackson, a driving force behind the standardisation of aircraft Unit Load Devices (ULD) and the supporting aircraft and ground-handling technical requirements, has been welcomed to The International Air Cargo Association’s (TIACA) Hall of Fame.Jackson is an air-cargo handling and logistics innovator, a lifelong champion of international standardization, and ...
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Airfreight helps lift Kuehne + Nagel
An airfreight surge at the start of 2015 helped freight forwarder Kuehne + Nagel (K+N) to a two per cent improvement in group earnings to SFr153m for the first quarter of 2015.Airfreight volumes were up 6.7 per cent to 304,000 tonnes compared with the same period last year, said the ...
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UPS set for billion dollar expansion in Europe
United Parcel Service (UPS) looks set to invest €1bn in its European business in order to expand its package delivery network.The unconfirmed UPS plan, reported by German magazine Wirtschaftswoche, comes less than a week after arch US parcel rival FedEx said it was going to buy Europe’s TNT Express for ...
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UPS set for billion dollar expansion in Europe
United Parcel Service (UPS) looks set to invest €1bn in its European business in order to expand its package delivery network.The unconfirmed UPS plan, reported by German magazine Wirtschaftswoche, comes less than a week after arch US parcel rival FedEx said it was going to buy Europe’s TNT Express for ...
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CAL joins pharma programme
CAL Group has joined IATA's Center of Excellence for Independent Validators Pharmaceutical Logistics programme (CEIV Pharma).Once completed, CAL states that it will be the first group to have a certified pharmaceutical logistics programme.Israel-headquartered CAL Group – specialising in temperature-controlled and pharma goods - includes freighter carrier CAL Cargo Airlines, LACHS ...
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FedEx and TNT confident that any regulatory issues can be overcome
Express parcel players FedEx and TNT Express are “confident” that any anti-trust issues around the $4.8bn acquisition of TNT by FedEx can be "addressed adequately in a timely fashion”.In January 2013, US parcels company UPS withdrew its takeover bid for TNT Express after the deal was blocked by European Commission ...