Business – Page 44
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News
Moscow supports Volga-Dnepr with "unprecedented" deal
The Russian government has signed an "unprecedented" deal with the Volga-Dnepr Group for the creation of air bridges between Russia and several countries to carry critical goods.Writing in his blog, the Mayor of Moscow, Sergey Sobyanin, said that on behalf of the president of Russia, Vladimir Putin, an agreement had ...
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NewsIATA: Air cargo up in February but uncertainty looms
Global air cargo demand was up 2.9% in February compared to February 2021 although capacity is still constrained, according to the latest International Air Transport Association (IATA) data.Cargo is tracking above pre-COVID-19 levels said the trade association. Demand, measured in cargo tonne-kilometers (CTKs) rose 2.5% for international operations year on ...
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Newsdnata to enter German cargo market through acquisition
Source: dnata and Cologne Bonn AirportCargo handler dnata will enter the German market at Cologne Bonn Airport (CGN) through the acquisition of Wisskirchen Handling Services.Wisskirchen is the exclusive operator of the Cologne Bonn Cargo Centre, a 12,000 sq m facility at CGN, and provides a full range of cargo services ...
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NewsDachser revenues exceed €7bn for the first time
Photo: DachserAirfreight charters helped German logistics company Dachser record a 78.3% jump in revenues at its Air and Sea Logistics unit to just over €2bn in 2021.Total group annual revenues went above €7bn for the first time, a 20% increase over Covid-hit 2020, while the forwarder also warned of continuing ...
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InsightsAirfreight customers take hit from Ukraine rates rise
Airfreight customers will pay the price as the Russia-Ukraine war continues and impacts rates.Speaking exclusively to Air Cargo News, The Air Charter Association chief executive officer Glenn Hogben says airlines have been forced to change their Asia-Europe routes to avoid Russian and Ukraine airspace since the later country was invaded, ...
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News
Bolloré agrees €5.7bn deal to sell African logistics business
The Bolloré Group has agreed to sell its African logistics business to container shipping giant MSC in a deal with an enterprise value of €5.7bn.The two companies entered discussions over the sale in December and, following the favourable opinions issued by each of the employee representative bodies, the two companies ...
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NewsMixed outcome for airlines in battle against air cargo cartel fines
Source: ShutterstockThere was mixed outcome for airlines in their battle against air cargo cartel fines issued by the European Commission.On March 30, the European Union (EU) General Court dismissed the actions brought by Martinair Holland, KLM, Cargolux Airlines, Air France-KLM, Air France, Lufthansa, Singapore Airlines and Singapore Airlines Cargo and ...
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News
Menzies and NAS finalise £571m takeover deal
Menzies will recommend to shareholders a takeover offer from Agility subsidiary National Aviation Services (NAS) that values the company at £571m.The two companies today announced they reached agreement on the terms of a recommended cash offer to acquire 100% of the ordinary shares in Menzies at a price of £6.08 ...
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News
Rates decline in March despite Ukraine crisis and Covid restrictions
Airfreight rates on major east-west trade lanes declined in March despite the impact of the Ukraine crisis on airfreight and supply chain disruption in Asia caused by Covid.The latest figures from the Baltic Exchange Airfreight Index (BAI) show that in March rates on services from Hong Kong to North America ...
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NewsEuropean Cargo announces growth accelerator investment
Photo: European CargoEuropean Cargo Limited has closed a minority equity investment that will be partly used for converting the company’s A340 fleet to full cargo freighters.The minority equity investment has been made by Priority 1 Logistics Holdings LLC, a newly-formed subsidiary of US-based, Priority 1 Holdings LLC.Proceeds of the investment ...
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NewsTIACA launches industry first sustainability programme
Photo: petrmalinak/ ShutterstockThe International Air Cargo Association (TIACA) has officially launched the “BlueSky program”, the air cargo industry’s first sustainability assessment, validation and verification programme.TIACA said the sustainability programme is a tool that air cargo industry stakeholders can use to track their sustainability progress, benchmark against peers and accelerate the ...
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NewsEV Cargo expands in air cargo with Fast Forward acquisition
Heath Zarin. Source: EV CargoEV Cargo has acquired Netherlands-headquartered Fast Forward Freight in a move that will more than double the firm's annual airfreight volumes.The company - owned by Hong Kong-based private equity firm EmergeVest - said that the acquisition is part of its previously announced corporate strategy to expand ...
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NewsEtihad Cargo renews Cargo iQ certification
Photo: Etihad CargoEtihad Cargo has successfully renewed its Cargo iQ certification in accordance with Cargo iQ Standards for quality management.Following an audit on the UAE national carrier’s compliance with the Cargo iQ airline member requirements conducted by independent auditor SGS, Etihad Cargo achieved Cargo iQ recertification for its global network.Etihad ...
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NewsRussian fleet sanctions squeezing capacity
Photo: AntonovSanctions imposed on Russian aircraft fleets are further squeezing air cargo capacity in an already constrained market.Pierre Van Der Stichele, vice president of global freight at aviation services group Air Partner told Air Cargo News that airspace bans on Russian aircraft imposed by the EU, US and others have ...
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News
Triumph powers Mammoth Freighter' 777 freighter conversions
Triumph Group’s Actuation Products & Services operating company has been selected to supply hydraulic power pack units on Mammoth Freighters' Boeing 777 freighter conversion programmes.The hydraulic power pack units were designed, qualified, and manufactured at the North Carolina-based Actuation facility and are expected to offer a cost-effective solution for Mammoth's ...
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News
Air cargo software platform Aircon launches
New air cargo software platform Aircon has closed a $1m dollar pre-seed round by Schematic Ventures.Texas, US-based Aircon facilitates air cargo rates and consolidation of cargo for freight forwarders and supply chain solutions providers. Development of the platform began in February 2021 and it will be launching live with forwarders ...
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News
Air cargo alliance aids price optimisation
TAC Index has formed an industry first alliance with a provider of SaaS solutions that optimise shopping and selling experiences to give the latter’s customers greater, more accurate and timely visibility into market air cargo rates.The alliance aims to help PROS customers optimise prices and maintain profit margins as the ...
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News
New blow for AirBridgeCargo as Bermuda suspends certificates
The Bermuda Civil Aviation Authority (BCCA) has suspended all airworthiness certificates for Russian aircraft on its registry.The suspension entered force on March 12 and is expected to effect around 700 aircraft.All of AirBridgeCargo's fleet of 18 freighters - four B747-400Fs, 13 B747-8Fs and one B777F - are listed on the ...
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NewsTurkish Cargo service quality certified by Cargo iQ
Turhan Ozen. Photo: Turkish AirlinesTurkish Cargo’s global operational service quality has been certified by IATA interest group Cargo iQ.Cargo iQ's mission is to create and implement quality standards for the worldwide air cargo industry.As part of the Cargo iQ requirements, all processes, including conformity of its operational processes, the services ...
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NewsSwissport targets acquisitions with new appointment
Pablo von Siebenthal. Source: SwissportSwissport is targeting an "ambitious" acquisition plan and has appointed Pablo von Siebenthal as global head of mergers and acquisitions (M&A) to head up the project.Von Siebenthal joins from Kuehne+Nagel on April 1 and will assume overall responsibility for the execution of Swissport's new global acquisition ...