Business – Page 31
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News
Menzies Aviation to acquire majority stake in Groundforce
Menzies Aviation has signed a subscription agreement with TAP Air Portugal and Groundforce to acquire a controlling stake of 50.1% in Groundforce, the airline’s aviation services arm.Groundforce handles over 100,000 aircraft turns each year, across its operations at five airports in Portugal: Humberto Delgado Airport in Lisbon, Francisco Sá Carneiro ...
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NewsStepping stones to net zero
Photo: ShutterstockNow that the UN’s Civil Aviation Authority has joined IATA in its commitment to net-zero carbon emissions from air transport by 2050, it’s important to set out some concrete steps.In October last year, the United Nations’ Civil Aviation Authority adopted the Long Term Aspirational Goal of net-zero carbon emissions ...
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NewsSetting the record straight
Photo: Travel mania/ ShutterstockIATA’s ONE Record project aims to achieve full digitalisation of air cargo information among its members using a common standard by the end of 2025, putting an end to the ‘black hole’ shippers have traditionally had to endure. But how will the scheme work and what are ...
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NewsIATA WCS 2023 to focus on sustainability, safety and digitalisation
Sustainability, safety and digitalisation will be the focus of the International Air Transport Association's (IATA) World Cargo Symposium later this month.Taking place in Istanbul, Turkey from April 25-27, the WCS will encompass conference sessions, workshops and executive summits, tackling issues related to technology and innovation, security and customs, cargo operations ...
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News
ASL raises funds for fleet renewal
Freighter operator ASL Aviation Holdings has closed a new $155m credit facility for investment in its fleet.ASL said it will use the funds to continue its fleet renewal programme which has so far seen the global aviation services provider agree 40 conversion slots with Boeing for the B737-800BCF.The credit facility ...
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News
Air cargo stabilises but there are risks ahead
Recent airfreight rate data appears to show that the air cargo market may have reached a new normal but the outlook remains cloudy.Writing in his monthly column for the Baltic Exchange Airfreight newsletter, Bruce Chan, director and senior research analyst covering global logistics and future mobility at investment bank Stifel ...
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News
FedEx to consolidate operating companies to cut costs
Express giant FedEx has unveiled plans to consolidate its various divisions as part of efforts to generate cost savings of $4bn.The company intends to bring FedEx Express, FedEx Ground, FedEx Services, and other FedEx operating companies into the Federal Express Corporation, becoming a single company operating a "unified, fully integrated ...
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NewsCLIVE: Forwarders seek longer term contracts to secure volumes
Growth in longer term contracts between shippers and freight forwarders may reflect moves by the latter to secure air cargo volumes, according to CLIVE Data Services.This shift could indicate a ‘hunt for volume’ by forwarders, said Niall van de Wouw, chief airfreight officer at CLIVE's parent firm, Xeneta.The distribution of ...
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News
Air cargo demand slides again but beats pre-pandemic levels
Air cargo demand slipped again in February but exceeded pre-pandemic levels for the first time in eight months.The latest statistics from IATA show that demand in February fell 7.5% year on year in cargo tonne km (CTKs).However, CTKs for the month were up 2.9% compared with February 2019 levels. The ...
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News
New buyer found for Frankfurt-Hahn Airport
Frankfurt Hahn Airport has found a new buyer in the shape of German real estate firm Triwo.The purchase price, which has not been disclosed, has already been transferred to an escrow account.The conclusion and execution of the agreement are subject to conditions but both parties assume that these will be ...
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NewsScan Global Logistics continues expansion
SGL Romania Management Team from left to right: Sebastian Blaga, Rares Theodosiu, Adrian Pali, Andrei Zodie, Nicolae Dragan. Source: SGLFast-growing forwarder Scan Global Logistics has continued its expansion with the opening of an office in Bucharest.The forwarder said it had decided on the new office as Bucharest was fast becoming ...
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NewsAir France KLM Martinair and CMA CGM air cargo partnership takes off
Source: AFKLMPAir France KLM Martinair Cargo (AFKLMP) and CMA CGM Air Cargo have launched a capacity partnership announced last year.The tie-up, first announced in May 2022, will see the two carriers jointly operate the full-freighter aircraft capacity of their respective airlines, initially including CMA CGM's six freighter aircraft and AFKLMP's ...
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NewsSATS completes acquisition of WFS
Photo: WFSSingapore-based aviation services company SATS has completed the acquisition of cargo handler Worldwide Flight Services (WFS) for €1.3bn.SATS struck a deal last September to buy WFS from an affiliate of asset investor Cerberus Capital Management. The transaction has an enterprise value of €2.25bn.WFS is now a fully owned subsidiary ...
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NewsASL expands into Australia with Pionair acquisition
ASL Aviation Holdings has acquired freighter operator Pionair as it expands into Australian and Oceania marketsACMI provider Pionair has five main bases in Australia - Sydney, Melbourne, Adelaide, Brisbane and Cairns - and has a focus on the express and e-retail sectors.Its fleet consists of 12 aircraft including Embraer E190-E2’s ...
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News
Bolloré Africa Logistics rebrands following takeover
Bolloré Africa Logistics has been rebranded as Africa Global Logistics (AGL) following its acquisition by container shipping giant MSC.The acquisition was completed at the end of 2022 and included all the Bolloré Group's shipping, logistics and terminal operations on the continent.At the time the deal was announced, Bolloré Africa Logistics ...
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InsightsLufthansa holds hope for a “good year”
Lufthansa Cargo is optimistic about its business prospects for this year with fleet and digitalisation investments continuing to shore up its growth goals.“Lufthansa is back” declared chief executive Carsten Spohr as the German airline announced record group operating profits of €1.5bn for 2022, the biggest financial turnaround in the carrier’s ...
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News
China Southern Airlines to spin off logistics business
China Southern Airlines plans to spin off and list its logistics subsidiary on the Shanghai Stock Exchange (SSE).The airline’s plan for China Southern Air Logistics was confirmed in an announcement on the SSE website on March 29.In the announcement, China Southern Airlines said the “spin-off still needs to meet a ...
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UK's logistics sector positive on Trans-Pacific Partnership trade deal
The UK's freight and logistics sector has welcomed news that the UK has joined the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) trade deal although they say it won't be a "game changer".The CPTPP covers 500m people across Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore ...
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News
Record profits at DB Schenker help Deutsche Bahn back to black
Rail and logistics giant Deutsche Bahn (DB) was back in the black last year thanks to a record performance at its forwarding subsidiary DB Schenker.The forwarder, which DB is considering putting up for sale, last year reported earnings before interest and tax (ebit) of €1.8bn - an increase of almost ...
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News
Alibaba to split off its Cainiao logistics unit
Alibaba's logistics unit, Cainiao, is one of six units that will be split off from the main company as part of the firm's biggest restructuring in its 24-year history.In stock exchange fillings, the e-commerce giant said that the company would split into six groups each to be managed by its ...