Business – Page 68
-
NewsCargolux revenues and profits take a hit in 2019
In its full-year results for 2019, Cargolux revealed that revenues decreased 14% year on year, from $2.6bn in 2018 to $2.4bn in 2019.Cargolux said this was due to lower load factors and yields coupled with lower fuel surcharge revenues as a result of declines in the price of fuel.Meanwhile, earning ...
-
News
Asian airlines record a 20% drop in cargo demand in March
Airlines in the Asia Pacific region saw cargo traffic decline by 21.1% year on year in March as the effects of the coronavirus began to bite.Statistics from the Association of Asia Pacific Airlines (AAPA) show that while demand dropped in March by more than 20% on a year earlier, capacity ...
-
News
IAG preliminary results give insight into Covid-19 impact
International Airlines Group (IAG), parent company of IAG Cargo and British Airways, has announced its preliminary results for the first quarter of 2020, ahead of the full results which will be released on May 7.Commenting on ebit, IAG said: "The operating result in the first two months of 2020 was ...
-
News
IATA: Governments must 'cut red tape' to bridge capacity shortfall
In its latest air cargo analysis, IATA has drawn attention to the capacity crunch — a knock-on effect of the coronavirus pandemic — and it has urged governments to "cut the red tape" when it comes to measures being taken to reduce the capacity shortfall.Alexandre de Juniac, IATA’s director general ...
-
News
Turkish Cargo achieves all three IATA CEIV certifications
Turkish Cargo has become the first cargo airline to achieve all three of IATA's CEIV certifications: Pharma, Fresh, and Live Animals.The certifications, which are valid for a three-year period, reflect Turkish Cargo's capability of handling pharmaceutical cargo, perishables and live animals at its facilities and on its flights, to IATA's ...
-
News
UPS: Covid-19 weighed on Q1 results
UPS has said that Covid-19 weighed on its first quarter results for this year.In its consolidated results, UPS's revenues increased by 5% to $18bn, "driven by growth in business-to-consumer shipments and gains in healthcare".The company's net income, which "included material headwinds due to disruptions from the coronavirus pandemic, higher self-insurance ...
-
News
Air cargo rates from Hong Kong surge
Airfreight rates out of China continued to climb last week, while prices from Hong Kong were also on the up as shippers looked to tranship through the world's largest air cargo hub.The latest figures from TAC Index show that last week average air cargo rates from Shanghai to North America ...
-
NewsIATA welcomes SVP of member and external relations
IATA has announced its new senior vice president of member and external relations, Sebastian Mikosz, effective June 1.Mikosz will lead the organisation’s global advocacy activities and aero-political policy development, along with managing the association’s strategic relationships. This includes IATA’s 290 member airlines and governments, international organizations and stakeholders in the ...
-
NewsK+N airfreight volumes slide in Q1 as Covid-19 takes its toll
Kuehne+Nagel (K+N) saw its airfreight volumes, revenues and operating profits decline in the first quarter of the year as the coronavirus outbreak took its toll on performance.The Switzerland-headquartered freight forwarder's airfreight business saw first-quarter revenues fall 6.8% to SFr1.1bn. Meanwhile, earnings before interest and tax (ebit) was down 5.8% to ...
-
NewsPPE 'mayhem' continues to push China air cargo rates
Air cargo rates out of China increased again last week as demand for the transport of personal protective equipment (PPE) continued to surge.The latest figures from TAC Index show that average air cargo rates from Shanghai to North America last week increased by 9.7% on a week earlier to reach ...
-
News
Davies Turner adds airfreight pricing option for rail freight service
Freight forwarder Davies Turner has added an airfreight pricing mechanism for its direct, fixed-day, weekly Express China Rail service from Xi’an to the UK, following the growing interest in the service from importers and shippers that have traditionally used airfreight.Tony Cole, head of supply chain services at the UK’s leading ...
-
News
Baltic Exchange to add airfreight pricing index
Derivatives trading platform Baltic Exchange will adopt TAC Index airfreight rate data to publish its first index of airfreight prices along major air trade lanes.The Baltic Exchange, which traces its routes back to the 1700s, provides benchmark assessments for the maritime markets which are used to settle billions of dollars-worth ...
-
News
Cathay Pacific Cargo sees demand drop but yields and load factor increase
Hong Kong flagship carrier Cathay Pacific Group today released combined Cathay Pacific and Cathay Dragon results for March this year, which show a decrease in the amount of cargo and mail carried compared with the same month in 2019.The group's results reflect the impact of the global coronavirus pandemic, which ...
-
NewsBrussels Airlines parent company amends board of directors
In its latest meeting, SN Airholding, parent company of Brussels Airlines, made changes to its board of directors.Jan Smets, former governor of the National Bank of Belgium and member of the SN Airholding board of directors since July 2019, was elected as co-chairman.With immediate effect, Smets succeeds Etienne Davignon, who ...
-
News
IATA renews call to keep air cargo flowing
IATA has renewed its calls for a coordinated approach among governments to keep air cargo flowing.The association said that delays in permit approvals, quarantine measures for air cargo crew and not enough support on the ground continue to hamper the movement of cargo flights carrying vital medical supplies and other ...
-
NewsACI World report details airports' management of Covid-19
Photo: ShutterstockAirports Council International (ACI) World has published Airport Operational Practice Examples for Managing Covid-19 — a report that contains examples of operational practices introduced by airport members from around the world in response to the restrictions and upheaval created by the coronavirus outbreak.The report describes measures implemented at major ...
-
NewsWorldACD: March, a month like no other in air cargo history
WorldACD has outlined that after the 2.7% drop in airfreight demand that it reported in January/February, March saw a decrease in chargeable weight of 17.7%, despite the first week of March being the best-performing this year so far.The Asia Pacific and the Americas regions fell least, with -12% and -17% ...
-
NewsPALLITE launches pop-up desk from logistics packaging material
UK-based environmentally-friendly packaging company PALLITE has launched a lightweight, pop-up, honeycomb-board paper desk to aid home-workers and schoolers struggling for space at home.By following UK government-advised guidelines under the ‘Stay Home, Stay Safe’ campaign, many of the PALLITE team members realised that they did not have suitable space to work ...
-
News
DP DHL scraps earnings guidance as it takes a €200m Covid-19 hit
Deutsche Post DHL (DP DHL) has scrapped its earnings guidance for the year as it reported a €200m hit caused by the coronavirus outbreak.The postal and logistics giant said that the global spread of the pandemic and the corresponding lack of transparency concerning the global economic development led the group ...
-
NewsMASKargo and Ethiopian form cargo partnership for Kuala Lumpur operations
MASkargo has announced Ethiopian Airlines as its new business partner for its operations at Kuala Lumpur International Airport.The two companies will partner on a weekly service that will utilise Ethiopian Cargo’s Boeing 777 freighters on the route: Brussels—Dubai—Kuala Lumpur—Brussels.Speaking about the new partnership, Ibrahim Mohamed Salleh, MASkargo chief executive, said: ...