Business – Page 76
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News
Speculation over DSV Panalpina’s next takeover target
Investment bank Berenberg has taken a look at suitable takeover targets for fast growing forwarder DSV Panalpina.Although the Copenhagen-headquartered company is still busy digesting its largest acquisition to date, Panalpina, it has already indicated its appetite for further acquisitions, in particular of companies with a strong road transport business.In a ...
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Cathay Pacific: positive peak season for AP region
Cathay Pacific Cargo has reported a positive peak season, based on its performance and its role in transporting freight related to consumer-led holidays such as Singles' Day, Thanksgiving and Christmas.In a reflective, positive statement, the company's head of cargo global partnerships, James Conlin (pictured), said: "While still below what it ...
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SF Express launches bond sale to raise cash for freighters
SF Express has launched a bond issue that aims to raise Yuan5.8bn, with much of that money earmarked for investment in new aircraft.The Chinese express giant said that it would spend Yuan1.52bn of the money raised on aircraft for its fast-expanding SF Airlines division.Meanwhile, Yuan1.49bn will be spent on developing ...
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NewsWings for Aid scoops TIACA Award
Wings for Aid has been named as the first winner of TIACA's first sustainability award, sponsored by CHAMP Cargosystems.The award was presented at the TIACA executive summit held in Budapest. Earlier in the day, the three finalists – M&G Packaging Corp, Nallian and Wings for Aid Foundation – presented their ...
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Troubled South African Airways suspends loss-making Hong Kong service
South African Airways' (SAA) announced today that it would suspended its service between Johannesburg and Hong Kong between November 23 and December 14, due to losses incurred on the route.The airline said the decision "has been taken to curb significant financial losses incurred on the route, exacerbated recently by the ...
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Uni-top Airlines puts freighter fleet into storage
Reports circulating in the Chinese press suggest that freighter operator Uni-Top has put its fleet into storage in the face of tough market conditions.A Yicai report suggests that the Wuhan-based carrier is seeking a restructuring and has been struggling to pay staff.Indeed, fleet data from Cirium shows the airline's eight ...
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DB Schenker joins Africa alliance as it looks to future growth
DB Schenker has joined the "Pan-African Mobility Alliance" as it looks to cement its commitment to the continent.The forwarder said joining the alliance, which covers business, science and politics, and was initiated by the German government to promote the continent's economy, was its first step as it looks to strengthen ...
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NewsDHL Express opens emissions-free hub to support e-commerce growth
Yesterday (November 19) DHL launched its Strategy 2025, an initiative that focuses on the company's digitalization and sustainability efforts to drive and support the e-commerce market. As part of the Strategy, DHL Express hosted the official opening of its new, emissions-free logistics centre at Cologne-Bonn Airport.The new hub, which cost ...
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News
Air cargo peak quickly peters out
The air cargo peak season appears to have quickly fizzled out this year, following on from two bumper years in 2017 and 2018.The latest freight rate data appears to show that the rise in prices experienced at the start of November has quickly flattened off.Tac Index figures show that prices ...
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Agility see Q3 airfreight volumes fall
Logistics and infrastructure company Agility has announced Q3 results showing falling airfreight volumes amidst “challenging market conditions” for its Global Integrated Logistics (GIL) business.Although the Kuwait-based company reported an overall 1.6% increase in Q3 revenue to KD 400.7 million, air freight net revenue fell 2.8% compared with the same quarter ...
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NewsFirst Africa office for Heppner
French freight forwarder Heppner has opened a branch in Dakar, Senegal – its first on the African continent. The company said it would also serve a wide swathe of the region, including Mali, Gambia and Guinea-Bissau.Heppner said that business prospects had been boosted by natural resources projects and by a ...
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Frankfurt Airport reports fall in freight
Freight at Frankfurt Airport fell by 8.0% in October compared with the same month in 2018, to 175,622 tonnes.Airport operator Fraport said that traffic for the year to date was also down, by 3.4%, to 1.74 million tonnes.The weak cargo performance contrasted with the passenger business, which was up 1% ...
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Cathay Group's cargo volumes droop in October
Cathay Pacific and Cathay Dragon carried 183,119 tonnes of cargo and mail in October, a drop of 4.9% compared to the same month in 2018.In its latest monthly figures, Cathay Pacific Group said that cargo and mail load factor fell by 2.4 percentage points to 68.0%.Capacity, measured in available freight ...
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News
Emirates SkyCargo celebrates pharma-handling achievements
In a recent announcement, Emirates SkyCargo, the freight division of Emirates, highlighted three milestones related to its pharma-handling capabilities.The airline is continuing to invest in pharma-handling facilities, as well as working towards expanding its pharma corridor network.1) Chicago pharma facility received GDP certificationEarlier this year, Emirates SkyCargo established a pharma ...
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NewsDHL sees Q3 airfreight volumes and revenues slide but profits rise
DHL Global Forwarding saw revenues and operating profits increase in the third quarter, despite a decline in airfreight volumes.The forwarder reported a 0.9% year-on-year increase in revenues to €3.7bn and earnings before interest and tax improved by 17% to €124m.Looking at its airfreight business, volumes for the third quarter were ...
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DHL set to build new cargo-handling facility at Riga Airport
DHL Latvia is planning to build a new shipment processing and logistics centre at Riga Airport.On November 6, DHL Latvia and real estate development company Castor Construction signed contracts with the airport and agreed to build the new facility within a year.According to the agreement, the new DHL shipment processing ...
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NewsLufthansa Cargo reports another loss as market conditions take their toll
Lufthansa's logistics division reported its second loss in a row during the third quarter of the year as market conditions continued to take their toll.The logistics division, which includes Lufthansa Cargo, time:matters, Jettainer and its share of AeroLogic, saw third-quarter revenues decline by 9.2% year on year to €598m, while ...
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NewsIATA: Volume decline continues, but expected to level off
International freight tonne km growthMarket demand remains weak, IATA reports in its September 2019 figures.Industry-wide, volumes declined by 4.5% in September year on year. This recent slide, which follows a 3.9% decrease in volumes in August, marks the eleventh consecutive month of decline in airfreight volumes. Africa is the only ...
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ATSG on the up as it continues to benefit from Omni acquisition
Freighter lessor Air Transport Services Group (ATSG) reported higher third-quarter results thanks to the integration of charter carrier Omni Air International, which it acquired late last year.Revenue in the quarter rose to $366m, up 79% from the year-ago period while net profit more than tripled to $105m from $33m in ...
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NewsEmirates sees cargo volumes slide in 1H
Emirates SkyCargo and dnata both saw their cargo volumes decrease in the first half of the year as a result of difficult market conditions and a runway refurbishment.On announcing half-year figures, the Emirates Group said that cargo volumes handled by its airline division decreased by 8% year on year to ...