Business – Page 29
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News
Lufthansa becomes minority shareholder in ITA
Lufthansa has agreed to acquire 41% of Italian carrier ITA and could in the future purchase the rest of the state-owned airline.Deutsche Lufthansa today reached an agreement with the Italian Ministry of Economy and Finance (MEF) to acquire the stake through a €325m capital increase.As part of the agreement, the ...
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NewsIncheon Airport Community scores a world first with IATA certification
Photo: Incheon International AirportThe Incheon International Airport Community has become the world's first of its kind to receive Center of Excellence for Independent Validators (CEIV) Lithium Batteries (Li-Batt) certification from the International Air Transport Association (IATA).This adds to to the airport's IATA CEIV certification in pharmaceuticals (Pharma) and perishable goods ...
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News
Challenge Group lands investment package for 767 conversions
Maltese-based airfreight and logistics specialist Challenge Group is receiving investment supporting its acquisition and freighter conversion of a batch of Boeing 767-300ERs.Investec Aviation Finance is providing just over €60m for the purchase and modification of four 767s.Challenge Group operates carrier divisions in Israel – the company formerly known as CAL ...
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NewsSilk Way West the latest to gain lithium battery certification
Source: Silk Way West AirlinesSilk Way West Airlines is the latest carrier to gain IATA's CEIV Lithium Battery certification.The certification recognises that the carrier has implemented processes and practices to mitigate the risks associated with the transport of lithium batteries and that it complies with requirements.The CEIV Lithium Batteries Certification ...
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News
Scan Global Logistics appoints former Maersk boss
Fast-growing forwarder Scan Global Logistics (SGL) has appointed Nils Smedegaard Andersen as its first new board member and chairman of the board.Andersen is the former chief executive of Carlsberg and of shipping giant AP Moller-Maersk, where he held the top job for nine years."SGL has transformed from a local and ...
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News
Freightos: transactions and revenues up in Q1 but losses deepen
Online booking portal Freightos saw the number of online transactions grow rapidly in the first quarter but its losses deepened during the period as a result of one-off costs.During the first quarter, revenues at the company increased by 9.8% year on year to $4.8m on the back of a 100% ...
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News
National Air Cargo achieves IATA CEIV certification
US cargo carrier National Air Cargo has received IATA's Center of Excellence for Independent Validators (CEIV) Lithium Batteries Certification.The certification recognises the airline's safe handling of dangerous goods, specifically Lithium batteries during air transportation."The certification validates National Air Cargo’s adherence to the industry’s best practices and also global experience to ...
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News
Cainiao IPO gets go ahead
Chinese e-commerce specialist Alibaba Group plans to start exploring an IPO for its logistics unit Cainiao.The Group said its board has approved the process and it aims to complete the initial public offering in the next 12 to 18 months."Our board of directors approved the commencement of a process to ...
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News
DB Schenker sale discussions back on the agenda
Discussions around the future of freight forwarding giant DB Schenker have been back on the agenda in the last few days.Last week, Deutsche Post-owned DHL Global Forwarding chief executive Tim Scharwath told Reuters that his company is in a position to integrate a large acquisition.He added that if Deutsche Bahn-owned ...
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News
Emirates SkyCargo reports heightened demand for long-term deals
Emirates SkyCargo has reported high demand for long-term contracts despite the current market uncertainties.Speaking to Air Cargo News during Air Cargo Europe, Nabil Sultan, divisional senior vice president at Emirates SkyCargo, said that companies were looking to secure long-term capacity in order to avoid capacity shortages experienced over the last ...
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News
Nippon Express acquisition of cargo-partner is confirmed
Austrian logistics provider cargo-partner will be sold to Japanese global logistics services company Nippon Express, the companies have confirmed after speculation dating back to last year.Cargo-partner company owner and founder Stefan Krauter, who had already passed on control of the company to the management team, described Nippon Express as his ...
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NewsBolloré positive on CEVA takeover bid to create new logistics giant
Henri Le Gouis, Bolloré Logistics Europe. Source: Bolloré LogisticsThe Bolloré Logistics name will disappear as its operations are brought under the CEVA Logistics brand, if CMA CGM Group’s bid to acquire the family-owned business receives regulatory approval, said Henri Le Gouis, Bolloré Logistics chief executive Europe.He told Air Cargo News ...
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NewsPuerto Rico life sciences air cargo community gathers momentum
From left to right: Advisor Jonas van Stekelenburg; David Perez-Larson, business development officer at the DEDC; and Kurt Schosinsky, chief executive of Viems Consulting and advisor for Aerostar Source: Puerto Rico Life Sciences Air Cargo CommunityLast month (April), it was announced that the life sciences air cargo business ...
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NewsLufthansa Cargo and CHAMP commit to the ONE Record data standard
Source: Lufthansa CargoIn further news from the transport logistic/air cargo Europe exhibition being held in Munich this week, Lufthansa Cargo and CHAMP Cargosystems have from the show announced their joint commitment to adopt ONE Record as an open data-sharing standard.IATA’s ONE Record is a modern, free, data-sharing standard for the ...
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NewsCMA CGM commits to acquiring Bolloré’s transport and logistics operations
Credit: CMA CGMMarseilles, France-headquartered ocean shipping and supply chain services provider CMA CGM Group has committed to acquiring the transport and logistics operations of Bolloré Logistics.Final completion of the transaction remains subject to examination by employee representation, and then to the required regulatory approvals.Should the acquisition go ahead, it would ...
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NewsAir France KLM sees cargo revenues slide in Q1
Air France KLM Martinair Cargo (AFKLMP) saw revenues and demand decline in the first quarter of the year as the market slowdown affected performance.The Franco-Dutch airline group saw first-quarter cargo revenues decline by 26.1% year on year to €672m, while cargo traffic was down 11.8% on a year earlier to ...
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News
ATSG sees no diminished demand for leased freighters
Lessor ATSG hasn’t seen a dip in demand for freighters despite a difficult first quarter on account of "operating headwinds".The Wilmington, Ohio-headquartered firm said its aircraft leasing business Cargo Aircraft Management (CAM) "has seen no reduction in demand for its desirable leased freighters, and continues to invest with the expectation ...
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News
IAG Cargo sees cargo revenues decline despite demand increase
IAG Cargo registered a decline in its cargo revenues in the first quarter of the year despite seeing demand decrease.The cargo business, which includes British Airways, Iberia and Aer Lingus, registered a 25.2% year-on-year decrease in first-quarter air cargo revenues to €323m, while traffic increased 13.6% to 1.1bn cargo tonne ...
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Insights
Airfreight rates slide in April
Airfreight rates on major east-west trade lanes declined in April as indicators of a recovery in March showed signs of fading (see chart below).The latest statistics from Baltic Exchange Airfreight Index (BAI) show declines in prices between Asia and Europe, Asia and North America and across the Atlantic.The falls are ...
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NewsLufthansa Cargo sees revenues, profits and volumes fall in Q1
After three consecutive years of record profits, it was back to earth with a bump for Lufthansa Cargo in the first quarter of the year as revenues, profits and volumes all declined.The German airline's logistics division, which includes Lufthansa Cargo, Jettainer, time:matters, HeyWorld and a 50% stake in AeroLogic, registered ...