Business – Page 141
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Cathay warns on market overcapacity
Cathay Pacific has warned about continued overcapacity in the cargo market despite the Hong Kong-based group notching a 3.4 per cent rise in freight revenue to HK$11.6 billion in the first half 2014.In a results statement Cathay said of its cargo business: “Overcapacity in the industry remains a major concern ...
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IAG Cargo: open to opportunities
FRESH from signing its block space programme on Qatar Airways freighters, IAG Cargo is prepared to “explore other opportunities” in terms of carrier partnerships.Steve Gunning, chief executive of the British Airways and Iberia cargo arm, says that the deal with Qatar Airways - sharing five-weekly B777F flights from Hong Kong ...
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ATSG' revenue uptick
A boost in US military contracts and aircraft maintenance services saw aircraft lessor Air Transport Services Group (ATSG) record an eight per cent rise in revenues to $149.6 million for the 2014 second quarter.Joe Hete, president and chief executive of US-based ATSG, said: “The second quarter provided strong evidence of ...
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SAA and Boeing to develop tobacco plant jet fuel
SOUTH African Airways (SAA) and Boeing have joined forces to develop an environmentally-friendly jet fuel produced from a new type of tobacco plant, writes Thelma Etim, deputy editor.The carrier and the planemaker will utilise sustainable jet fuel producer SkyNRG’s hybrid plant Solaris, which farmers can grow as an energy crop ...
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Air New Zealand alliance with SIA approved
New Zealand's minister of transport has approved the alliance between Air New Zealand and Singapore Airlines.“It’s very pleasing to receive regulatory approval for this alliance which will enable us to grow our network with operations between Auckland and Singapore in the very near future,” said Air New Zealand chief executive, ...
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DWC cargo up in Q2
THE permanent relocation of Emirates SkyCargo’s freighter operations to Al Maktoum International – Dubai World Central (DWC) resulted in a triple-digit surge in cargo traffic in the second quarter of this year, writes Thelma Etim, deputy editor.DWC handled 199,751 tonnes, up 308 per cent from the same period in 2013, ...
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Etihad will bring Alitalia back to profitability by 2017
JAMES HOGAN, president and chief executive of Etihad Airways, has announced that the carrier has spent €560m to acquire its 49 per cent equity stake in Alitalia, writes Thelma Etim, deputy editor.Under the deal, which will result in €1,758m of investment and includes restructuring the Italian carrier’s debt, the Middle ...
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UK aviation strategy in the spotlight
UK logistics professionals have called on the government to focus on long-term aviation strategy.The Chartered Institute of Logistics and Transport (CILT) has produced its own report, The Future of Aviation, which outlines long-term strategic prospects for the growth of UK air transport.This publication is one of a series of strategy ...
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Cooperation is the key driver
THE latest half-year results for the air cargo industry’s two great players, the airlines and freight forwarders, reveal a market where volume increases are dampened by a “competitive environment” to use the jargon, or a rates battle to you and me.The major purchasers of air cargo space, Deutsche Post DHL, ...
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One Question
Steve Gunning, chief executive of IAG Cargo, answers: "THIS big influx of cargo capacity is creating an excess supply and the only relief valve that the air cargo industry has is freighter capacity, because that is the only one it is fully in control of.“As a result you will see ...
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Cargojet revenue rise
Canada-based Cargojet saw 2014 second quarter revenues up 3.7 per cent to C$44.3 million, due primarily to the increase in core overnight volumes and higher ACMI income.Cargojet provides time sensitive overnight air cargo services and operates a network across North America, as well as global air charters.President & chief executive ...
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United's July cargo hike
UNITED AIRLINES’ cargo revenue tonnes rose 29 per cent to more than 212,000 in July, writes Thelma Etim, deputy editor.Increased belly capacity helped the US carrier’s airfreight division to enjoy a 9.1 per cent increase to 1.4 million year-on-year.Did you find this article of interest, if so why not register ...
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Virgin appoints Globe Air Cargo in Dubai
Virgin Atlantic Cargo has appointed Globe Air Cargo as its general sales and service agent in Dubai.The move is intended to simplify Virgin Atlantic Cargo’s freight and courier express sales for customers in the UAE and “take advantage of the Dubai market’s strong growth forecast”.The airline carries around 5,000 tonnes ...
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IAG Cargo releases 2014 "strong results"
A change in freighter capacity saw IAG Cargo record a 7.5 per cent fall in commercial revenue to €992m for full year 2014, but a like for like rise of 2.4 per cent.The decrease in flown revenue plus fuel surcharges reflects IAG Cargo’s decision in May last year to switch ...
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July cargo drop for LATAM
WEAKER imports into Latin America contributed to LATAM Airlines Group’s cargo drop in July, writes Thelma Etim, deputy editor.The group’s airfreight traffic decreased 0.4 per cent, as capacity fell 5.3 per cent. As a consequence, the cargo load factor increased 2.8 points to 57.4 per cent, says a company statement.“The ...
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Avianca Q2 cargo surge
Avianca’s cargo capacity programme led to a 6.6 per cent rise to $212.3 million in 2014 second quarter freight and associated revenues.The Colombian national passenger carrier, with a freighter fleet of four B767-300Fs and one A330-200F, reported improved capacity utilisation and organic growth for the April to June period.Its cargo ...
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Russia mulls new air cargo security rules
Russian news agency reports suggest that Moscow is considering new air cargo security legislation aimed at European Union member states.ITAR TASS quoted a document posted on Russia’s Air Transport Agency website as saying: “We plan to develop and adopt a regulatory legal act similar to EU Regulations 185/2010 regarding cargo ...
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LATAM’s World Cup cargo woes
REDUCED cargo demand during the football World Cup in Brazil contributed to LATAM Airlines Group’s net loss of US$58.9m in the second quarter of 2014, writes Thelma Etim, deputy editor.Cargo revenues decreased by 12.7 per cent during the first six months of the year, as the group reduced capacity by ...
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Cathay Pacific Services Ltd to handle Royal Brunei cargo
CATHAY Pacific Services Ltd (CPSL) has been appointed as handling agent for Royal Brunei Airlines’ cargo operations and documentation at Hong Kong International Airport, writes Thelma Etim, deputy editor.“Providing great quality service is the utmost priority for Royal Brunei Airlines, so we are therefore very pleased to be working with ...
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Africa's great expectations
EXPLOITATION, sporadic internal political struggles, corruption and recurring natural disasters have punctuated and marred Africa’s rich heritage and held back its economic development, writes Thelma Etim, deputy editor.Despite these handicaps, the second most populous continent in the world is poised to usher in a new era of prosperity, financial commentators ...