Business – Page 52
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News
DHL to stick with an opportunistic approach to acquisitions
Deutsche Post (DP) DHL will maintain an opportunistic approach to freight forwarding acquisitions despite the spate of takeovers recently announced by some of the company's peers.Speaking after the delivery and logistics giant last week revealed its half year results, DP DHL chief executive Frank Appel was asked whether the company ...
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Cargojet continues international expansion with 21Air investment
Cargojet has invested in a minority share of US freighter operator 21Air as it looks to grow internationally.Cargojet will acquire a 25% interest in 21Air and will "continue to collaborate with 21Air on mutually beneficial opportunities in this expanding air cargo market".21Air is certified by the US Federal Aviation Administration ...
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Etihad Cargo revenues offset "dip" in passenger in H1 2021
Etihad Airways's half-year cargo revenues offset a "dip" in passenger operations, as it continues to make a "progressive recovery" in the wake of the pandemic.The group's cargo division posted a 56% year-on-year increase in revenues to $800m.This achievement was driven by a 44% year-on-year increase in freight carried in the ...
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Crew quarantine measures hold back Cathay Pacific Cargo in H1
Hong Kong quarantine restrictions took their toll on Cathay Pacific's first-half performance with revenues and volumes all declining compared with a year earlier.The airline saw its first-half cargo revenues decline by 0.6% on last year to HK$11.1bn, while cargo revenue tonne kms (RFTK) were down 20.1% to 3.3bn and the ...
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Cargo-partner expands in Australia with ACF move
Cargo-partner has continued its expansion with the purchase of Australia-based forwarder Associated Customs & Forwarding (ACF).ACF is an IATA-accredited service provider for air and sea freight, customs brokerage and contract logistics.The company operates 3,000 sq m of warehouse space in Sydney, including a bonded warehouse with in-house customs clearance as ...
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ATSG to add first A330s as demand for mid-sized freighters soars
ATSG has secured conversion slots for A330 freighters as it continues to expand its mid-sized freighter options.While announcing its second-quarter results, the lessor said that it had secured 20 conversion slots for A330 freighters.Until now, the company has operated with a fleet of Boeing freighters. However, the company recently announced ...
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Atlas Air revenues driven up by higher rates and volumes in Q2
Freighter operator Atlas Air Worldwide has achieved increased revenues and net income in the second quarter of this year – due to higher rates and the “significantly improved” performance of its Airline Operations division.In its second-quarter 2021 results, the freighter operator recorded a 20% year-on-year increase in revenues to $990.4m. ...
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Lufthansa Cargo optimistic for the future after positive Q2
Lufthansa's cargo business recorded improvements in revenues, profits and volumes in the second quarter as it benefited from higher rates.The airline group's logistics segment, which includes Lufthansa Cargo, time:matters, Jettainer and an equity investment in AeroLogic, saw second-quarter revenues increase by 13% on last year to €766m, while earnings before ...
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DHL's airfreight volumes take off in Q2
DHL Global Forwarding saw its airfreight volumes improve by double-digit percentage levels in the second quarter on the back of tight capacity and improved demand.The Deutsche Post (DP) DHL-owned forwarder reported a 9% year-on-year increase in second quarter airfreight revenues to €2bn on the back of a 35.7% improvement in ...
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WFS expands presence in France with R.A.Hand acquisition
Ground handler Worldwide Flight Services (WFS) has expanded its operations in France with the acquisition of French handler R.A.Hand.R.A.Hand, which has around 60 agency clients, works with French and international freight forwarding companies to provide cargo handling services, storage, distribution and deliveries to airlines.WFS said R.A.Hand was established in 2010 ...
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NewsTop 25 cargo airlines: Freighter operators to the fore
FedEx, UPS and Qatar were last year the largest air cargo carriers once again, but there were major winners and losers in the overall top 25 airlines as the Covid pandemic took its toll on the market (see full at end of article).According to IATA’s latest World Air Transport Statistics ...
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A record H1 for Geodis in 2021
Logistics provider Geodis has achieved record half-year (H1) revenues and ebit in the first six months of this year — driven by growth in intercontinental transport and increased e-commerce demand in the US and Europe.In its 2021 half-year financial results, the company posted revenues of €4.9bn — a 21% year-on-year ...
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NewsCargo industry welcomes new ICAO secretary general
Juan Carlos Salazar, ICAO. Source ICAOThe freight industry has welcomed the new secretary general of the International Civil Aviation Organization (ICAO) as cargo continues to grow in importance to the overall aviation industry.In a joint statement, the International Federation of Freight Forwarders Associations (FIATA), The International Air Cargo Association (TIACA), ...
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DB Schenker sees airfreight bounce back
DB Schenker saw its airfreight business bounce back in the first half of the year as its volumes increased by more than 40% thanks in part to an expanded charter network.The Deutsche Bahn-owned forwarder saw its first-half airfreight volumes increase by 43.8% year on year to 712,100 tonnes led by ...
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NewsWorldACD: Cargo volumes return to 2019 levels in first half
Cargo volumes were back at 2019 levels in the first half of the year while revenues remained far above the levels of the last two years.The latest statistics from analyst WorldACD show that cargo volumes - in chargeable weight - in the first half of the year were at the ...
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CEVA targets Latam perishables with Cargex takeover
CEVA Logistics has signed an agreement to purchase all shares in Colombian freight forwarder Cargex as it looks to expand in the Latam region.The Bogotá-headquartered firm has been established for more than 25 years and its primary focus is export management of perishable goods.The company has operations in Bogotá, Medellin, ...
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IAG Cargo volumes continue to recover in the second quarter
IAG Cargo saw its revenues and volumes improve in the second quarter of the year but demand still lags pre-covid levels.Revenues for the period grew by 13.6% year on year to €419m, while cargo tonne kms (CTK) improved by 72.8% on last year to 999m and tonnes carried increased 55.8% ...
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NewsAAPA: Asia Pacific air cargo market "resilient" in June
The Asia Pacific region's air cargo market has remained resilient — a contrast to the "suppressed" passenger market, according to the Association of Asia Pacific Airlines (AAPA).AAPA's preliminary June 2021 air traffic figures show that international air cargo demand for Asia Pacific-based carriers, measured in freight tonne km (FTK), increased ...
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DSV Panalpina posts increased H2 revenues as Agility GIL acquisition continues
DSV Panalpina has reported increased revenues and operating profits (ebit) in its interim half-year 2021 financial results.The forwarding giant, which started the process of acquiring Agility Global Integrated Logistics (GIL) earlier this year, said its performance was "driven by 18% growth in gross profit and a high productivity across all ...
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InsightsIATA: Strongest half-year cargo demand since 2017 but capacity remains constrained
IATA has highlighted the need to re-establish passenger network connectivity to boost bellyhold capacity and ultimately airline revenues, as cargo demand remains strong.Speaking at a media update this week, Ezgi Gulbas (pictured below), senior economist at IATA, said overall cargo demand in the first half of this year was 8% ...