Business – Page 45
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News
Turkish Cargo revenues and volumes jump in 2021
Turkish Airlines saw its cargo revenues rapidly increase last year on the back of volume improvements and higher prices.The carrier saw its cargo revenues for last year increase by 48% year on year to $4bn on the back of a 26% increase in cargo volumes to 1.9m tons.Higher industry rates ...
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NewsCathay Pacific targets cargo growth as it records 2021 loss
Photo: Cathay PacificCathay Pacific Group faced an attributable loss of HK$5.5bn in 2021 and is looking to increase "cargo capacity as much as practicable”.Cargo revenue in 2021 was HK$32.3bn, an increase of 31.8% compared to 2020. Cargo revenue tonne kilometres (RFTK) decreased by 1.1% to 8.2bn RFTK.The decline in volumes ...
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NewsAir cargo growth in January "below expectations"
Air cargo growth figures for January were "below expectations" while the outlook for the year ahead is uncertain, according to IATA.The airline association's latest monthly report shows that global air cargo demand in cargo tonne km terms increased by 2.7% year on year in January.Capacity for the month was up ...
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NewsDHL orders more B777s while forwarding loses top spot in air cargo
B777 freighter. Photo: DHLDHL Express has placed an order for six additional 777 freighters from Boeing as Deutsche Post DHL Group closed 2021 with record earnings.The purchase takes DHL Express' order book total to 28 777 freighters since it placed its first direct order in 2018. The express giant has ...
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News
Menzies predicts continued cargo growth as revenues jump 27%
John Menzies, which is currently in takeover talks, saw its revenue climb 27% to $1.35bn in 2021 compared to $1.1bn in 2020 and it expects cargo to fuel further improvements.The aviation services group said its underlying operating profit was $76m, up $100m since 2020 when it was hit by the ...
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News
Lufthansa Cargo: Ukraine crisis will cause 10% global capacity drop
Lufthansa Cargo expects global market capacity will be approximately 10% down as a result of the Ukraine invasion.Speaking at a press conference, Lufthansa Cargo chief executive Dorothea von Boxberg said this is because of restrictions for global fleets. Russian carriers are restricted by airspace sanctions by the European Union, UK ...
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NewsAir cargo has a "long way to go" on sustainability as resources remain scarce
Air cargo supply chain companies are ramping up their focus on sustainability but there is a "long way to go" as resources remain scarce, according to TIACA's latest sustainability survey.The latest annual TIACA Air Cargo Industry Sustainability Survey, organised in conjunction with consultancy Change Horizon, revealed that 55% of the ...
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News
TIACA’s board adds air cargo talent
Six people have been appointed to The International Air Cargo Association’s (TIACA) board of directors.The new board members bring experience from the airport, airline and handling sectors.Kai Domscheit is the chief executive officer of CHI Germany Cargo Handling. The business offers forwarding and airline handling, as well as trucking and ...
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News
Lufthansa Cargo posts record results
Lufthansa's cargo business has registered record results for the second year in a row as it benefits from improved demand and higher airfreight rates.The Germany-based airline's logistics division, which includes Lufthansa Cargo, Jettainer, time:matters and its investment in AeroLogic, saw revenues for 2021 increase by 38% year on year to ...
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NewsAir cargo market close to pre-pandemic levels but uncertainty ahead
The global air cargo market continued catching up with pre-pandemic levels in February as freight volumes, capacity and load factors stabilised close to 2019’s performance, with rates also slowly trending downwards.This is according to the latest data from industry analysts CLIVE Data Services, which found chargeable weight in February was ...
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NewsApex acquisition helps K+N to rapid airfreight growth
Kuehne+Nagel (K+N) saw its airfreight volumes increase by more than half last year as industry-wide demand soared and the company benefitted from its acquisition of Apex.The forwarder's total airfreight volumes for 2021 were up by 54.9% year on year to 2.2m tonnes, air revenues increased by 97% to SFr11.5bn and ...
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InsightsPutzger perspective: Outlook bright and tight
Copyright: Jaromir Chalabala/ ShutterstockStrong air cargo growth is expected to continue in the first half of 2022, but with continued pressure on capacity, writes Ian Putzger.Despite, and partly because of, ongoing turbulence, air cargo keeps going strong. The industry flew through 2021 with an 18.7% increase in traffic over 2020 ...
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InsightsRobust demand and rates for Asia-Europe air cargo
Asia-Europe air cargo trade looks set to continue with high rates and demand in 2022, writes Roger Hailey.Turbulence is an understatement when describing the many variables facing air cargo’s Asia-Europe trade lane in 2022.A cocktail of ingredients looms ominously: possible Covid-19 variants shutting down factories as well as airlines and ...
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InsightsSupply chain spotlight: Greener skies ahead
Photo: Scharfsinn/ ShutterstockThe Scottish Government is a leader in setting climate change targets, having committed to achieving net-zero greenhouse gas emissions by 2045.To determine how to meet its net-zero target while continuing to receive the social and economic benefits of air travel, the Scottish Government intends to produce an aviation ...
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News
Etihad Cargo registers record cargo results in 2021
Etihad Airways registered record cargo results last year as the airline ramps up its participation in the industry.The carrier saw cargo revenues last year increase by 49% year on year to $1.7bn - more than half its total revenues of $3.1bn - while volumes increased by 26.8% to 729,000 tonnes.Revenues ...
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Tiaca membership bounces back as sustainability remains a key focus
Airfreight organisation Tiaca saw its membership numbers bounce back last year after a dip in 2020 and is continuing to ramp up its focus on sustainability.In a media update, Tiaca director general Glyn Hughes revealed that in 2020 the organisation's membership numbers had suffered a Covid-related dip but numbers were ...
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News
Global GSA Group acquires three companies
Netherlands-headquartered Global GSA Group has acquired Aircargo Italia, Worldair and Star Cargo Italy.The three Italian acquisitions will help Global GSA Group expand its position in Italy and fits with its overall global expansion strategy. Other acquisitions are also expected to be announced this year, said Ismail Durmaz, chief executive of ...
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NewsATSG 2021 revenues up 10%
Rich Corrado, chief executive officer and president of ATSG. Photo: ATSGUS lessor Air Transport Services Group (ATSG) has reported full year 2021 revenues of $1.73bn, up 10% year on year.Adjusted EBITDA was $541.1m, up 9%, and adjusted pretax earnings were $173.9m, up 11%Rich Corrado, president and chief executive officer of ...
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Cargo props up Air New Zealand
Air New Zealand cargo revenues increased 29% to NZ$482m year on year during the first half of its financial year.Robust cargo volumes were supported by the extension of the New Zealand Government’s Maintaining International Air Connectivity (MIAC) scheme and the Australian Government’s International Freight Assistance Mechanism (IFAM) scheme, said the ...
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NewsIAG Cargo sees revenues take off in 2021
IAG Cargo, the cargo division of International Airlines Group, saw its cargo revenues reach new highs last year on the back of soaring rates and an improvement in demand.For the full year, the company reported a 28.1% year-on-year increase in revenues to €1.7bn as traffic, measured in cargo tonne kms ...