Business – Page 53
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NewsBUD achieves record cargo volumes in H1 2021
Image source: BUDBudapest Airport (BUD) has achieved record cargo volumes in the half of 2021.From January to June this year, the hub handled 86,798 tonnes cargo — a 36% year-on-year increase on the same period in 2020.BUD also noted that from June 2020 to June 2021, its Cargo City handled ...
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NewsTakeOff Cargo: Forwarder charter operations expected to continue
Forwarder charter operations are expected to continue to the main airport hubs as part of efforts to provide service stability.Speaking at the TakeOff Cargo event, which is taking place this week, industry leaders discussed the changing air cargo market.In one discussion moderated by Steven Polmans, chairman of TIACA, Joachim von ...
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News
K+N's air division earnings boosted by Apex deal
Forwarder Kuehne+Nagel (K+N) has more than doubled its earnings in the first half of 2021.The company said that "continued recovery of the global economy led to strong demand for logistics services", which in turn helped it to achieve group net turnover of CHF13.3bn — 35% higher than the same period ...
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NewsAir cargo gains from rising prices in ocean shipping
High ocean freight rates caused by service disruption is helping push forwarders and shippers to use airfreight.In its latest market summary, airline association IATA said that air cargo is benefitting from "exceptionally congested" container shipping supply chains.It pointed out that the cost-competitiveness of air cargo relative to that of container ...
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News
Geodis strengthens pharma offering with Gandon Transports acquisition
Supply chain firm Geodis is set to expand its presence in the pharma market with the acquisition of temperature-controlled logistics business Gandon Transports.Geodis said Gandon Transports, which specialises in the transport of pharma products at controlled temperatures of 2°C to 8°C and 15°C to 25°C, has an extensive network of ...
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News
DP World to expand Africa and Europe presence with Imperial acquisition
Supply chain solutions provider DP World has revealed plans to acquire Imperial Logistics in an $890m deal.Dubai-headquartered DP World, which has 136 business units in 61 countries across six continents, said it is interested in acquiring Imperial and all of its businesses to expand its logistics footprint in Africa and ...
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NewsCLIVE: Air cargo back on track for recovery
Source: CLIVE Data ServicesAir cargo demand returned to growth in June following a drop in May as a result of public holidays.The latest statistics from CLIVE Data Services show that air cargo demand in June increased by 1% compared with the same month in 2019 (used for comparison due to ...
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IATA: Volumes outperform pre-Covid levels, but pace slows in May
IATA has reported in its latest market analysis that air cargo volumes in May continued to outperform pre-Covid (2019) levels - although the pace in demand in May was slower than that in April.Global air cargo demand in May 2021, measured in cargo-tonne kms (CTKs), was reported as 9.4% higher ...
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News
DP DHL ups forecast as it expects record Q2 profits
Deutsche Post (DP) DHL has reported record operating profits in its preliminary second-quarter results and upped its outlook for the year.The logistics and postal giant said its preliminary operating profit (ebit) for the second quarter has reached a record level of €2.1bn compared with €912m on last year.The company said ...
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NewsHellmann set for Innight Express acquisition
Tobias Maue, Tamás Aradi, Zoltán Csombok, Wilfried Hesselmann and Zsuzsanna Fazekasne Bencze. Source: HellmannHellmann Worldwide Logistics will acquire overnight express provider Innight Express as it aims for expansion in central and eastern Europe.The express firm is based in Hungary and Romania and the two shareholders, Tamás Aradi and Zoltán Csombok, ...
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News
Kuehne+Nagel sells minority stake in Apex
Kuehne+Nagel has agreed to sell a 24.9% stake in recently acquired Apex International to private equity firm Partners Group.The forwarder said that following the deal, it will work alongside Partners Group to implement a "transformational value creation plan" for the China-based forwarder with key initiatives including establishing new freight forwarding ...
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NewsWorldACD: Air cargo demand on the up but with regional variances
Air cargo demand continues to track in line with 2019 levels but regional performance is mixed, according to WorldACD.The data provider's latest numbers show that air cargo demand in chargeable weight was in May around 1% below 2019 levels — used for comparison given Covid's impact in 2020 — and ...
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News
FedEx to add freighters and boost spending to meet demand
FedEx will boost spending over the coming year and add more freighter orders to meet growing e-commerce demand.Announcing its results full-year results for fiscal year ended May 31, the express giant said it expected to spend around $7.2bn in FY 2022 compared with around $5.9bn last year.Meanwhile, FedEx will exercise ...
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Seko Logistics notes clients "pivoting" between sea and air capacity
Seko Logistics has said many of its manufacturer clients are "pivoting" between seafreight to airfreight and "leveraging air capacity as an option when they can".The logistics provider said growth in cross-border e-commerce is increasingly pushing manufacturers to use airfreight, as seafreight capacity struggles to cope with pressure.The company also noted ...
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NewsHat-trick of new cargo airlines plan for take-off
Source: AliscargoThe past week has seen three new companies - in the UK, Italy and Vietnam - reveal plans to enter the all-cargo market as prices and availability of capacity make the market an attractive prospect.Last week, Italian firm Aliscargo was preparing for the arrival of its first aircraft - ...
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Cargo the bright spot for Emirates as it notes first loss in more than 30 years
Cargo revenue was the bright spot for the Emirates Group, which revealed its first loss in over 30 years in its financial results for 2020-2021.The carrier recorded an annual loss of AED22.1bn (US$6.0bn) due entirely to the effect of the Covid pandemic which led to wholesale withdrawal of flights and ...
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NewsHong Kong Airlines goes to ‘critical survival mode’, flying only eight jets
Hong Kong Airlines (HKA) will stand down its fleet of Airbus A320s until mid-2022 and operate a skeletal fleet of just eight A330s on cargo flights, as the embattled carrier enters what it calls “a critical survival mode”.The airline confirmed reports of a wide-ranging restructuring — its latest in more ...
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John Menzies taps into Chinese air cargo market
Aviation services firm John Menzies is set to expand into the Chinese air cargo market.The business is investing £3.4m (US$4.8m) to acquire a minor equity stake, by way of a joint venture, in Chinese firm Guangzhou JFreight Aviation Logistics Supply Chain Co. Ltd (JFreight).The joint venture will see Menzies managing ...
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Insights
IATA: Air cargo remains the "good news story" for the air transport sector
IATA has reported in its latest market analysis that air cargo volumes in April this year continued to outpace pre-Covid (2019) levels.The association said this was largely due to the strong performance of carriers based in North America, the Middle East and Africa.Global air cargo demand in April 2021, measured ...
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NewsVolga-Dnepr and Krasnoyarsk Airport pledge to increase hub's cargo potential
Left to right: Andrey Metzle, general director of Krasnoyarsk Airport; Alexander Uss, governor of Krasnoyarsk; Alexey Isaykin, partner and chairman of the board, Volga-Dnepr GroupKrasnoyarsk International Airport, Volga-Dnepr Group and the Krasnoyarsk region have signed an agreement that aims to develop the airport into an international logistics hub.The move follows ...