Business – Page 124
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FedEx set to buy TNT Express for $4.8bn
US parcels and logistics giant FedEx has made a $4.8bn bid to acquire rival operator TNT Express of the Netherlands, with both sides reaching a conditional agreement on the deal.The agreement recommends an all-cash offer by FedEx for all issued and outstanding ordinary shares, including shares represented by American Depositary ...
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Airfreight helps lift Hellmann UK
Airfreight was a star performer in Hellmann Worldwide Logistics UK’s strong end of year results, said the forwarder.Volumes had gained from specialist project business and airfreight revenue was up by 19 per cent on last year’s figures. Shipments increased by seven per cent.Managing director Andy Connor commented: “We’re looking to ...
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The spectre of further rate wars...
AIR CARGO operators are warning against knee-jerk rates wars amid Eurozone stagnation in the second quarter impacted by deepening global political unrest, writes Thelma Etim, deputy editor.“The main concern is that political instability, mainly between Russia and Europe/USA will escalate further and subsequently will affect the already fragile economic recovery,” ...
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Hong Kong retains crown as top cargo hub
Hong Kong remained the world's top cargo hub, as preliminary data from Airports Council International showed that global airfreight volumes rebounded 4.7 per cent in 2014 after three years of stagnating growth.World airfreight volumes ended the year with an increase of 5.6 per cent in December. On an annualised basis, ...
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Agility's 2014 airfreight yields improve
GLOBAL forwarder Agility’s full-year 2014 financial results saw a net profit of KD50.9m, an increase of 10 per cent over prior year, as revenues edged down one per cent to KD1.36bn.Agility’s airfreight yields improved in 2014, offsetting continued margin pressure in ocean freight.Tarek Sultan, Agility’s vice chairman and chief executive, ...
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Munich airport's record tonnages
Southern Germany’s Munich airport saw total 2014 cargo volumes increase eight per cent over prior year to a record 291,000 tons.When airmail is included, the cargo volume handled at the Bavarian hub exceeded 309,000 tons, with 85 per cent being bellyhold cargo on intercontinental flights.Michael Kerkloh, chief executive of airport ...
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TransDigm completes Telair acquisition
Aerospace components firm TransDigm Group has completed the acquisition of the Telair Cargo Group of businesses, owners of the Nordisk airfreight container manufacturing company.The $725m purchase from AAR Corp was financed by TransDigm through a combination of existing cash in hand and via an existing $75m revolving credit ...
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Second half surge boosts Cathay Cargo in 2014
Cargo's stronger second half in 2014 helped Cathay Pacific Group report a 20.2 per cent surge in attributable profit to HK$3.1bn for the full year.Group turnover in passenger and freight increased by 5.5 per cent to HK$106bn. Cargo revenues increased by 7.3 per cent to HK$25.4bn compared with 2013.Cathay, which ...
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Heathrow rediscovers the regions
Heathrow has announced a package of measures to boost links between the UK regions and to reverse “a lost decade” in which regional connections to long-haul markets have been squeezed out of the UK’s hub airport.The owners of London’s main gateway admit that, at the moment, Amsterdam Schiphol airport has ...
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WCS: Airfreight volumes, a Chinese puzzle
It is a truth universally acknowledged that if China sneezes, the rest of the world will catch a cold, writes Martin Roebuck.The airfreight world may need to keep aspirin on standby for the rest of this year, analyst Gert-Jan Jansen, head of Seabury Cargo Advisory, warned delegates at the World ...
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UPS extends pharma network
UPS customers can now ship biological substances, dangerous goods in excepted quantities and shipments using dry ice to more than 20 additional international destinations.The US-based global express and logistics’ operator says that the expansion is a direct response to a growing demand from biopharmaceutical manufacturers, diagnostics companies, laboratories and distributors.“The ...
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Thomas Howe becomes president of ACS California
Air Charter Service (ACS) has promoted Thomas Howe to president of its US west coast operation.Howe, formerly vice president of the US office, joined ACS at its cargo division in the London headquarters.He later transferred to Los Angeles to start up the cargo department on the west coast, making it ...
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Robert Keen to head BIFA
The British International Freight Association (BIFA) has named Robert Keen as its new director general, to succeed Peter Quantrill who retires from the UK trade association in August.Mr Keen joined the industry in 1970 and worked for a succession of forwarders before joining BIFA in 1999. He was appointed an ...
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Chapman Freeborn appoints Portuguese agent
CHARTER specialist Chapman Freeborn (CF) has appointed ALS Portugal Aviation & Logistics Solutions as its exclusive representative for the Portuguese market.CF has worked closely with the management team of Cascais-based ALS Portugal for a number of years and the new agreement gives local customers greater access to worldwide air charter ...
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MASKargo boss resigns
MASKARGO boss Mohd Yunus Idris has resigned as the company’s chief executive officer.Unconfirmed local press reports suggest that poor ground handling standards and complaints from forwarders may have triggered the resignation, but a spokesperson for MASKargo said: "His decision to leave has nothing to do with what was reported".The country’s ...
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Panalpina's new 'lean' business model
PANALPINA is the first global logistics company to gain accreditation for its ‘lean training’ programme.The achievement comes two years after the company’s logistics division set out to incorporate lean manufacturing principles into its global operations.The Lean Competency System (LCS) accreditation, developed in partnership with the UK’s Cardiff University, means that ...
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2014 'a challenging year for air cargo'
GLOBAL air cargo grew by only 1.4 per cent last year as the whole industry fought its way out of a world recession.IATA figures show that cargo markets made very slow progress during the first half of the year, but acceleration took root in the latter half of 2013, eventually ...
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Jacques Ancher wins TIACA ‘Hall of Fame’ award
AIR CARGO veteran Jacques Ancher is the 2014 winner of The International Air Cargo Association (TIACA) Hall of Fame award.The former executive vice-president of KLM Cargo is credited with changing the way air cargo is perceived in airline boardrooms around the world. He is the 49th industry executive to be ...
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Air Zimbabwe board 'investigated'
REPORTS from Harare claim that Air Zimbabwe has had its entire board of directors fired by Zimbabwean Minister of Transport, Obert Mpofu.The airline's management is at the centre of an alleged US$11million insurance scam following a forensic audit of the airline's operations.According to the ministry, a soon-to-be-appointed reconstituted board will ...
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One Question
Doug Brittin, secretary general of TIACA, answers:"Some things are very difficult to put a hard timeline on. For example, advanced data for customs information: In the USA, the CBP (US Customs and Border Protection agency) is drafting a rule right now. The EU has not started their one yet, but ...