Business – Page 74
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News
Air cargo contracts expected to be at lowest level for four years
The baseline price of airfreight ACMI and block-space agreements are expected to be negotiated at their lowest level in four years despite expectations of a pick up in 2020.Speaking to Air Cargo News, Peter Stallion of airfreight derivatives broker Freight Investor Services (FIS) said that contracts tended to be negotiated ...
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SOL ups stake in forwarder Scanlog
Svenska Orient Linien (SOL) has taken a majority shareholding in logistics firm Scandinavian Logistics Partners (Scanlog).Until now, the shipping company has had a 20% holding in the business, but now it is expanding its ownership to just over 50%.“With SOL, Scanlog gets a strong majority shareholder who can help us ...
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NewsEmbraerX and Elroy Air collaborate on drone delivery systems for booming e-commerce market
EmbraerX, the Brazilian planemaker’s innovation subsidiary, has signed a collaboration agreement with Silicon Valley drone delivery startup Elroy Air for the purpose of developing the unmanned aerial vehicle air cargo market worldwide.The companies announced their agreement on January 8 at the Consumer Electronics Show in Las Vegas.EmbraerX and Elroy Air ...
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NewsLATAM Cargo: Maintaining the balance
LATAM Cargo chief executive Andrés BianchiThe challenge of ensuring aircraft are full of cargo is not an easy one to meet at the best of times, but when the market is in a downturn the task becomes even more difficult.One person meeting this challenge head on is LATAM Cargo chief ...
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IAG chief executive Willie Walsh to retire
International Airlines Group (IAG), the parent company of IAG Cargo, has announced the upcoming retirement of its chief executive Willie Walsh.Walsh will stand down from his role and from the IAG board on March 26 and will be succeeded by Luis Gallego, who is currently chief executive of Iberia.IAG, which ...
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NewsAAPA reflects on another decline in airfreight demand
The Association of Asia Pacific Airlines (AAPA) has revealed in its preliminary figures for November that demand for air cargo remained weak, in-line with trends internationally.In fact, during November last year, international air cargo demand in freight tonne kilometres (FTKs) declined by 1.9% year-on-year. Meanwhile, capacity for international arifreight increased ...
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SITA and CHAMP join trade facilitation alliance
Aviation software firms and partners SITA and CHAMP Cargosystems have joined the Global Alliance for Trade Facilitation, which aims to make trade simpler.The alliance was set up to help governments implement the World Trade Organization’s Trade Facilitation Agreement (TFA) and is currently delivering ten projects across Africa, Asia and Latin ...
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NewsIATA: Pressure appears to have eased on declining airfreight market
IATA's latest airfreight market analysis, which details figures for November 2019, noted that industry-wide freight tonne kms (FTKs) dipped by 1.1% year on year. This marked the 13th consecutive month of year-on-year decline in airfreight volumes.However, November's performance was also the best in eight months, because it showed the slowest ...
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WiseTech continues expansion with SISA acquisition
Fast expanding supply chain software firm WiseTech Global has acquired SISA Studio Informatica, a customs and freight forwarding solutions provider in Switzerland.SISA provides solutions covering customs clearance, freight forwarding and bonded warehouse management. Its customers include DHL Logistics (Schweiz), Fiege Logistik (Schweiz), FedEx, Post CH, Agility Logistics, F. Hoffmann-La Roche, ...
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News
SEKO increases airfreight presence with Air-City acquisition
SEKO Logistics has completed its largest-ever acquisition with the purchase of New York-based Air-City.The logistics firm said the move would help it expand its presence on the westbound airfreight market, while also adding resources to its key New York region.The purchase will also see SEKO add facility infrastructure in the ...
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News
EL AL Israel Airlines back in the freighter market with Atlas deal
Freighter operator Atlas Air and EL AL Israel Airlines have entered an agreement that will allow the Tel Aviv-based carrier to expand its reach and cargo lift for its customers through the use of a B747.As part of the ACMI (aircraft, crew, maintenance and insurance) agreement, Atlas Air will operate ...
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A tough year for air cargo rates but some positives
Airfreight rates on major east-west trade lanes ended the year behind 2018 levels, but the picture is more positive when taking a longer term perspective.Data from TAC Index shows that in December rates on services from Hong Kong to North America declined by 22.6% on last year to an average ...
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Bain-Titan $1bn JV reflects a changing airfreight market
The joint venture between Bain Capital and Titan Aviation announced at the end of last year is expected to take aim at the e-commerce market and also reflects a changing air cargo market, according to one consultant.The joint venture deal will see Bain invest $360m of equity in the project ...
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NewsOn-Time Performance Review: Most punctual airlines and airports revealed
Analytics firm Cirium has ranked the world’s most on-time airlines and airports by size and region in its 11th annual On-Time Performance Review using data generated from its reporting and tracking tools.In Cirium's review, Russian airline Aeroflot is named as the world's most on-time global mainline airline (a carrier without ...
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News
Elanders and Dimerco form air and sea freight forwarding joint venture
Taiwan-based global transportation and logistics specialist Dimerco has formed a joint venture with Elanders.As part of the joint venture, Dimerco has acquired 25% of Elanders’ subsidiary: ITG Air & Sea.Dimerco has the option to increase its stake to 49% after two years.The joint venture will allow ITG to better focus ...
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News
China Southern to spin off cargo business
China Southern has offloaded its cargo business as part of the Chinese government's mixed ownership reforms.According to an announcement from China's National Enterprise Credit Information Publicity System, the airline's parent, China Southern Air Holding, set up a new cargo business with a registered capital of Y1bn to operate the airline's ...
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News
Air Cargo News' Top 10 most read in 2019
With 2020 already underway, the Air Cargo News team decided that now is an ideal moment to share our most popular stories from the past 12 months. Despite 2019 being a challenging – and at times, unpredictable – year, there were significant positives, as our list below shows.So, which stories ...
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NewsEtihad Cargo receives CEIV Fresh certification
Etihad Cargo, the cargo and logistics arm of Etihad Airways, has been awarded IATA’s Centre of Excellence for Perishable Logistics (CEIV Fresh) by the airline trade association.It is the first Middle East airline to hold both IATA’s CEIV Fresh and CEIV Pharma certifications, and one of only two carriers around ...
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NewsSAA signs up to Illegal Wildlife Trade module of IEnvA programme
South African Airways (SAA) has joined the fight against illegal shipping of animals by signing up to the Illegal Wildlife Trade module of the IATA Environmental Assessment (IEnvA) programme.IEnvA is a comprehensive environmental management system that SAA uses as a standard for its environmental sustainability strategy.It describes IEnvA as an ...
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News
Retailers say US-China trade agreement a step in the right direction
The US National Retail Federation (NRF) has welcomed news that the North American country and China have agreed on phase one of a trade deal.Reports indicate that the agreement cancels tariffs that were due to come into force last week and will reduce tariffs that took effect in September.However, earlier ...