Business – Page 78
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News
Volga-Dnepr to cut 100 jobs and reduce An-124 fleet, report claims
In a move that reflects challenging airfreight market conditions, Volga-Dnepr will reportedly take one or two of its An-124 aircraft out of action and make 100 job cuts.According to Russian Aviation Insider (RIA), the airline has reduced its An-124 fleet from 12 to eight aircraft over the past two years ...
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News
Turkish Cargo adds flights to Kuala Lumpur and Ahmedabad
Turkish Cargo has increased its cargo flight network with the addition of flights to Kuala Lumpur, Malaysia, and Ahmedabad, India.Thanks to the Kuala Lumpur flights, Turkish Cargo will be be able to move Malaysia's main exports, such as electronic products, medical products, and spare parts, to various countries, such as ...
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NewsKuehne+Nagel sees airfreight volumes decline again in Q3
Kuehne+Nagel saw airfreight volumes and revenues decline in the third quarter, but it managed to maintain profitability.The company reported a 7.5% year-on-year drop in third-quarter airfreight volumes to 406,000 tonnes, revenues declined by 6.7% on a year ago to SFr1.3bn but earnings before interest and tax (ebit) were flat at ...
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News
TIACA announces finalists for its first Sustainability Award
TIACA has revealed the three finalists of its first ever Sustainability Award, which was established to recognise and reward organisations that are addressing CO2 emissions, waste reduction, recycling, weight reduction for ULDs and packaging, humanitarian aid, staff wellbeing and retention and animal welfare.The nominees are:M&G Packaging Corp with BioNatur Plastics ...
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NewsPayCargo continues to grow as executive team changes revealed
PayCargo has announced the appointment of two new executives and a third change to its management line up as the business continues to grow.In July, the payment system appointed Lionel van der Walt as president and chief executive of its Americas business.“My focus at PayCargo is to further strengthen the ...
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NewsCathay Pacific releases combined traffic figures for September 2019
Cathay Pacific Group has announced that tonnage carried and load factor for the year to date are “significantly below” the same period last year, despite small signs of improvement compared to August.In the first nine months of 2019, tonnage fell by 6.8% against an 0.7% increase in capacity. The traffic ...
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News
Volga-Dnepr Group moves to allay reports of financial woes
The Volga-Dnepr Group has downplayed Russian press reports regarding the scale of the current financial challenges it faces, stating that it has already initiated an optimisation plan to meet tough market conditions.A report in Ulnovosti states that the company was not immediately able to pay employees for September and that ...
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News
Mixed results for CargoLogicAir as it looks to future growth
UK-based all-cargo airline CargoLogicAir saw its revenues almost double last year but losses deepened.According to figures just released, the B747 freighter operator reported a 99% year-on-year increase in revenues for the 2018 calendar year to £213.7m, but its net loss reached £18m, compared with £2.5m in 2017, and its operating ...
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NewsAvia Solutions completes acquisition of Chapman Freeborn
Avia Solutions Group has completed the acquisition of charter broker Chapman Freeborn.The deal was first announced in June with the companies stating at the time that they expected the takeover to be completed in the third quarter. Terms have not been disclosed.As part of the Avia Solutions Group, Chapman Freeborn ...
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News
DSV Panalpina warns of job cuts during restructure
DSV Panalpina Group has announced the possibility of job cuts as it relocates the former Panalpina headquarters (in Basel) to its headquarters in Denmark.The company said it is finalising its analysis of the impact on corporate functions at the former Panalpina headquarters but warned the relocation could result in up ...
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NewsAirline fined for breaching animal welfare guidelines
Iberia Airlines has been fined £142,397 for breaching guidelines that govern the welfare of animals traveling by air.Following an investigation into the death of a number of capybaras – a small animal native to South America – last year, the airline was prosecuted by the City of London Corporation, which ...
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News
John Menzies creates management board and appoints new CFO
John Menzies, the holding company of Menzies Aviation, has announced changes to its senior management.The organisation has appointed Alvaro Gomez-Reino as its new chief financial officer and it has also created a new executive management board.Gomez-Reino has previously held senior financial positions with Amey plc, Ferrovial and Swissport where he ...
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NewsCaspian Air Cargo Summit: Industry must prepare for future growth
IATA head of cargo Glyn Hughes has called on the air cargo industry to "apply equal vigour" to all the "challenges and opportunities" currently faced by the industry.Speaking at the Caspain Air Cargo Summit in a global market outlook session, Hughes gave an overview of the tough market conditions that ...
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NewsNo rest for DSV Panalpina as it plans for more acquisitions
DSV Panalpina is planning to once again hit the acquisition trail in 12-18 months time, with “larger rather than smaller” companies targeted, says its new chairman Thomas Plenborg.He specifies that “additions within road are likely to be on the radar next” especially when the road division’s new transport management system ...
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FTA urges members to continue preparing for no-deal despite latest proposal
The Freight Transport Association (FTA) is urging its members to continue preparing for a no-deal Brexit despite the UK government's latest proposal.Earlier this week UK prime minister Boris Johnson proposed that when the UK leaves the European Union (EU), Northern Ireland would stay in the single market for goods, but ...
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News
US to impose tariffs on EU goods over aircraft subsidies row
The US is poised to impose import tariffs on European Union (EU) goods worth $7.5bn in response to an ongoing row over subsidies given to Airbus and Boeing.Washington was yesterday given the go-ahead by the World Trade Organization (WTO) to impose the tariffs, which it will put in place on ...
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News
FIATA issues guide to help forwarders combat corruption
Freight forwarder organisation FIATA has published a guide to help freight forwarders combat corruption.The group pointed out that The Corruption Perceptions Index 2018 of Transparency International reported more than two-thirds of 180 countries and territories scored below 50 on a scale of between 0, highly corrupt, and 100, very clean, ...
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NewsHandler WFS appoints Nils Andersen as chairman
Nils Andersen. Source: WFSGround handler Worldwide Flight Services (WFS) has announced the appointment of Nils Andersen as chairman of its board of directors.Andersen joins WFS to work with the management team to build upon the progress made since being acquired by an affiliate of Cerberus Capital Management last year.Andersen has ...
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News
ECS Group expands Australasia presence with Wexco acquisition
Australia and New Zealand-based Wexco (not to be confused with Wexco Cargo GSSA) has been acquired by the ECS Group as it looks to expand its presence in the region."Through this acquisition, ECS Group is developing its presence all around the world and has reaffirmed its leadership position," ECS said."The ...
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NewsTIACA's sustainability program adds four strategic partners
Four new strategic partners, including Brussels Airport, Flexport, Oman Aviation Services, and Turkish Airlines, have signed up to back The International Air Cargo Association (TIACA)’s new Sustainability Program.They join CHAMP Cargo Systems, sponsors of TIACA’s inaugural Sustainability Award, which is a key part of the project.The program, headed by Celine ...