Business – Page 36
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News
Airfreight rates decline again in October
Airfreight rates continued to buck normal seasonal trends and declined again in October as the air cargo market remained subdued.The market usually sees an increase in rates out of Asia between September and October as the industry continues to ramp up toward the peak season. However, that was not the ...
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News
Air France-KLM Group sees third quarter cargo revenues drop
Air France-KLM Group saw a small drop in cargo revenues in the third quarter but maintained steady cargo yields.The Group recorded total cargo revenues of €830m in the third quarter of 2022, which was a 0.6% drop from the year before.However, total cargo revenues in the third quarter of 2022 ...
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News
Cargojet announces strong third-quarter results
Canadian cargo airline Cargojet has announced strong third quarter 2022 results.For the three months ending September 30, the airline recorded total revenues of C$232.7m (US$170.6m), significantly up on the figure of C$189.5m (US$138.9m) made in the same quarter of last year.The revenue growth of 22.8% reflected, Cargojet said, a strong ...
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News
IAG Cargo reports mixed results
IAG Cargo has announced mixed results as it published its third quarter and year-to-date financial figures.The airfreight carrier reported revenue of €373m in the third quarter of 2022, down 7.9% on the same period of last year.However, its year-to-date revenue (January to September) reached €1,216m, up by 3.6% compared to ...
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News
Corporación América Airports consortium is top bidder for Nigeria cargo concessions
A Corporación América Airports (CAA)-led consortium is the preferred bidder for the Abuja and Kano airports and cargo terminals concessions in Nigeria.The consortium formed by global airport operator CAA, Mota-Engil, Engenharia e Construção África S.A., and Mota-Engil Nigeria Limited, of which CAA will hold a 51% stake, has been declared ...
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Cargo offers ‘consistent’ contribution to Air Canada
In releasing Air Canada’s third-quarter results, the carrier’s president and chief executive, Michael Roussea, pointed to the fact that “Air Canada Cargo is consistently contributing to our results.”In the third quarter of this year, Air Canada generated C$644m ($472m) in operating income, with a strong operating margin of 12.1%.It was ...
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News
China's freighter fleet to quadruple
China’s freighter fleet is expected to quadruple in size to more than 800 aircraft in the period up to 2041, according to Boeing's 2022 Commercial Market Outlook (CMO) for China.The CMO for China predicts that the country’s growing economy will be a big factor in its commercial aircraft fleet more ...
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News
Lufthansa Cargo enjoys record third quarter results
Lufthansa Group said Lufthansa Cargo recorded record results in the third quarter of this year as it issued a more positive outlook for the remainder of the year than it had previously predicted.The Frankfurt-based Group made an operating profit of €1.1bn in the third quarter of this year, based largely ...
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News
DSV records airfreight slowdown in Q3 as rates and demand drop
DSV reported a "reduced growth rate" for airfreight business in the third quarter of 2022 as rates declined and consumer demand dropped amid economic uncertainty.In the third quarter of 2022, the forwarder’s Air & Sea division reported a 44.2% year-on-year increase in earnings before interest and tax (ebit) before special ...
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Kuehne+Nagel sees slower Q3 airfreight growth
Kuehne+Nagel’s (K&N) air logistics division saw positive but slower growth in the third quarter of 2022 as airfreight market capacity has grown and demand dropped.The air division’s third-quarter net turnover was SFr2.8bn, up 7% from the same period of 2021, earnings before interest and tax (ebit) was SFr323m, 35% up ...
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NewsVIDEO: The best of the IATA World Cargo Symposium
Join Air Cargo News as we look back at some of the key moments of the IATA World Cargo Symposium (WCS) 2022.
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News
ACS reports record H1 revenues as cargo demand continues to soar
Broker Air Charter Service reported record revenues in the first half of the year as firms turned to aircraft charters in response to supply chain issues.The company said that sales increased by 49% year on year to $770m over the first six months of the financial year, running to July ...
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NewsVIDEO: Vienna Airport's Michal Zach on current air cargo challenges
The Air Cargo News video team spoke with Michal Zach, VP sales & finance, ground handling & cargo, Vienna Airport about current air cargo challenges.
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NewsHong Kong Air Cargo Terminals gains IATA’s CEIV Lithium Batteries accreditation
Hactl executive director and chief financial officer Amy Lam (right) receives the IATA CEIV Lithium Batteries certificate from Yvonne Ho, IATA general manager, Hong Kong and Macau. Photo: HactlHandler Hong Kong Air Cargo Terminals Limited (Hactl) has successfully obtained accreditation under IATA’s CEIV Lithium Batteries (Li-batt) standard.Hactl now holds all ...
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News
DP DHL to raise outlook following improvement in e-commerce
Deutsche Post DHL will raise its outlook for operating profits after consumer e-commerce demand picked up in the third quarter of the year.The express and postal giant said that third-quarter earnings before interest and tax (ebit) is expected to reach €2bn compared with €1.8bn last year."Therefore, 2022 ebit guidance (currently: ...
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NewsHellmann and partner create new Swiss forwarding arm
Photo: Hellmann Worldwide LogisitcsHellmann Worldwide Logistics and partner ATS-Hellmann Worldwide Logistics will transfer their air and seafreight activities in Switzerland to Hellmann through the creation of its own Swiss national company.Hellmann will take over the international air and sea freight services previously performed by ATS-Hellmann at the beginning of 2023.The ...
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IATA: Air cargo market stable despite latest decline
IATA said the air cargo market is stable despite demand falling for the sixth month in a row in August.The airline association's latest data shows that demand in cargo tonne km terms in August fell by 8.3%, which was a slight improvement on the 9.7% fall registered in July.Capacity increased ...
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NewsMaersk to provide global logistics for construction equipment giant
JCB operations. Photo: MaerskShipping firm Maersk has announced a new multi-year logistics partnership with UK-based construction equipment manufacturer JCB.Under the agreement, Maersk will become the new global Lead Logistics Provider (LLP) for JCB.Maersk will offer end-to-end supply chain management services and management of JCB's appointed third-party warehousing provider.To oversee JCB’s ...
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News'Jumpy' airfreight market sees spot rates fall again
General airfreight spot rates have fallen as the air cargo market faces lower demand and more capacity.According to the latest weekly market data from Xeneta-owned CLIVE Data Services, general airfreight spot rates fell 9% year-on-year in September, to below the 2021 level for the first time this year, as returning ...
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NewsRhenus obtains CEIV pharma certification for its Istanbul Airport branch
Rhenus Turkey with its new IATA CEIV Pharma certificate. Photo: RhenusRhenus has obtained IATA CEIV Pharma certification for its Istanbul Airport branch.The company anticipates that the certification will help it win new customers in the Turkish market for life sciences and healthcare.The CEIV certification ensures that Rhenus meets the compliance ...