Business – Page 34
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News
IATA blasts draft ban on cargo-only operations at Mexico’s busiest airport
IATA has blasted a government plan to ban cargo-only flights from Mexico City’s primary airport.According to local Mexican media reports, the leaked draft of a document published last week reveals that the government intends to close Benito Juarez International airport, the busiest in the country, to operators that ”provide national ...
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TIACA adds Latin America expertise
The International Air Cargo Association (TIACA) has appointed Eric Hartmann as its regional representative – Latin America.As a regional representative, Hartmann will enhance member relations within Latin America by networking and building relationships with current and prospective members, regional bodies and the respective government agencies.He is also tasked with promoting ...
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Air charter demand rising
The global air charter services market is expected to be valued at $31.9bn in 2023, according to a US market research company.Fact.MR said the market is projected to have a total valuation of $54bn by 2033.The company's research found the market is highly fragmented currently, and North America holds a ...
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Lufthansa submits offer to acquire a stake in ITA Airways
Lufthansa has confirmed it aims to acquire a minority stake in Italian national carrier ITA Airways with options for a full acquisition in the future.The German airline said on January 18 it submitted an offer to the Italian Ministry of Economy and Finance with a view to signing an MoU ...
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IATA completes revisions to air transport industry manuals
The International Air Transport Association (IATA) has completed the annual review of its air transport industry manuals for cargo, ground handling and operations.The manuals now incorporate the updates made to many industry standards over the past year, said the industry body.It added that these revisions reflect the sector’s commitment to ...
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CargoLogicAir expected to have funds to pay creditors
Administrators of UK-based freight operator CargoLogicAir expect to realise sufficient funds to pay all creditors in full, but have outlined the difficulties of its task given the company’s Russian links and the international sanctions regime, writes Air Cargo News' sister title FlightGlobal.CargoLogicAir, which operated Boeing 747 freighters, was forced to ...
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SATS shareholders approve WFS acquisition
Singapore-based SATS' shareholders have voted to approve the planned takeover of cargo-handling giant Worldwide Flight Services (WFS).At an Extraordinary General Meeting on January 18, 96.8% of the total number of votes were in favour of a resolution to approve the transaction.With the receipt of shareholder approvals, the deal is now ...
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Boeing confirms 2022 was a busy year for freighters
Boeing has reported it received a total of 78 orders across its commercial freighter line in 2022.This included 45 orders for the B767-300F and current B777F.It also launched the B777-8F with more than 50 orders, including conversions.Commercial deliveries include 44 new production freighters.In total, there were 480 aircraft (passenger and ...
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GEFCO to be re-branded as CEVA following takeover
Automotive logistics firm Gefco will be re-branded as CEVA Logistics and become part of a newly created Finished Vehicles Logistics (FVL) division at the forwarder.The integration of Gefco into the wider CEVA organisation follows the purchase of the automotive logistics firm in July 2022 by the CMA CGM Group, which ...
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NewsIATA: Mixed signals for cargo as demand drops in November
There are mixed signals regarding air cargo's outlook after November saw another double-digit percentage decline in demand.The latest IATA statistics show that airfreight demand in cargo tonne km terms (CTK) declined by 13.7% year on year in November.Capacity for the month fell by 1.9% against last year and load factors ...
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NewsStrike Aviation looks ahead to a cargo recovery in the second-half
Andrius Antanaitis. Source: Strike AviationGSSA Strike Aviation is expecting that the air cargo market will pick up in the second half of the year following a tough opening six months.The company said that it expects the market slowdown experienced last year to continue in the first part of the ...
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US SMEs explore nearshoring to avoid supply chain disruption
US small- and medium-sized enterprises (SMEs) are moving their supply chains closer to their home market at a faster rate than predicted to help minimise supply chain disruption.A survey from Gartner-owned consultant Capterra shows that 88% of the 300 SMEs surveyed plan or are currently in the process of switching ...
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Air Cargo News' most read in 2022
Last year was another turbulent year for the air cargo industry as the rapid growth experienced in 2021 turned to decline and capacity began to open up as passenger networks re-opened.Despite the demand declines, volumes stayed ahead of pre-Covid levels and rates remained far above the levels achieved in 2019 ...
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NewsCLIVE: Dig deeper for true air cargo market picture
The air cargo industry is holding its own given the economic pressures it faced last year and despite a consistent drop in demand.According to the latest industry analysis by Xeneta-owned CLIVE Data Services, in December, chargeable weight fell 8% year on year and the general airfreight spot rate registered its ...
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NewsMaersk completes Martin Bencher acquisition
Martin Bencher employees. Photo: MaerskMaersk has completed the acquisition of Danish project logistics specialist Martin Bencher Group as it strives to diversify its supply chain offering.The deal, announced in August last year, has an enterprise value of $61m and will allow the shipping giant to launch Maersk Project Logistics.Founded in ...
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SATS seeks shareholders' approval for WFS takeover
SATS will hold an Extraordinary General Meeting (EGM) on January 18 to seek shareholders’ approval for the proposed acquisition of air cargo handler Worldwide Flight Services (WFS).The Singapore-based aviation services company struck a deal last September to buy WFS from an affiliate of asset investor Cerberus Capital Management in a ...
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Tiaca positive for air cargo in 2023 despite tough outlook
Air cargo association Tiaca is predicting another tough 12 months for air cargo demand, but has also outlined positives for the industry.In its latest newsletter, the association said that high inflation, high interest rates, high energy costs and concern over job security have compounded to create an air of defensive ...
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NewsDachser takes over joint ventures in Hungary
Photo: DachserLogistics company Dachser has acquired the remaining 50% of the shares in its Hungarian joint ventures “Liegl & Dachser Szállítmányozási és Logisztikai Kft.” (transport and storage of industrial goods and food products) and “Liegl & Dachser ASL Hungary Kft.” (air and sea freight).In the course of the acquisition, which ...
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FedEx Express is pain point for FedEx in second quarter
FedEx faced continued weak market demand for air cargo in the second quarter with FedEx Express a particular pain point.In the second quarter ended November 30, the transport company said previously implemented cost reduction measures helped soften the blow of reduced FedEx Express revenue.Second quarter fiscal 2023 revenue was $22.8bn ...
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NewsWhat would a combined DB Schenker and DHL mean for airfreight volumes?
Last week Deutsche Bahn assigned its management board to examine and prepare the case for a potential sale of up to 100% of its shares in DB Schenker.Speculation immediately turned to who could be a potential buyer for the forwarding unit if state-owned Deutsche Bahn does decide to pursue a ...