Business – Page 81
-
News
Cathay Pacific takes action following China warning over protests
Cathay Pacific has suspended a pilot who was arrested amid ongoing protests in Hong Kong. It has also fired two members of ground staff for "misconduct".The suspension and terminations, which took place over the weekend, follow a warning emailed to staff from Cathay Pacific chief executive Rupert Hogg on August ...
-
News
Menzies Aviation expands into Canada with GTO Global Logistics deal
Menzies Aviation has acquired Canada-based GTO Global Logistics as the wholesale airfreight provider gains its first foothold in Canada.GTO provides airfreight, ocean less-than-container-load, domestic/cross Border road services, storage and customs brokerage at airports and ports in Canada.As part of the deal, Menzies will acquire a customs bonded warehouse of 10,000 ...
-
Newscargo-partner's new iLogistics Center commences operations
Copyright: Miran Kambic. Source: cargo-partnercargo-partner's new warehouse complex – the iLogistics Center – located near Ljubljana Airport in Slovenia, has commenced operations ahead of its official opening in September.The warehouse, which has has 25,000 sq m storage space and 4,000 sq m of office space, will serve cargo-partner's clients in ...
-
News
CSafe increases European presence with new Amsterdam service centre
CSafe Global has opened a new service centre in Hoofddorp, the Netherlands, to increase its operational capabilities in Europe.At the centre, which is 7.8km away from Amsterdam's Schiphol airport, CSafe RKN and CSafe RAP active temperature-controlled containers are serviced to ensure that they are fit for purpose and can safely ...
-
News
Cathay Pacific Cargo under pressure in H1
Cathay Pacific saw cargo revenues, volumes and yields decline in the first half of the year as the US-China trade war took its toll on performance.The Hong Kong-headquartered carrier reported an 11.4% year-on-year decline in cargo revenues to HK$11.5bn, volumes were down 5.7% on a year ago to 979,000 tonnes ...
-
NewsAir cargo down again in June as signs of a recovery were premature
Air cargo traffic has now declined year-on-year for eight months in a row and signs of a recovery in recent months have turned out to be premature.The latest figures from airline association IATA show that demand in terms of freight tonne kms (FTK) declined by 4.8% year on year in ...
-
News
Emirates SkyCargo looks to diversification and digitisation
Product diversification, digitisation of the air cargo supply chain and an ambition to build an e-commerce hub in the Middle East are just three of the projects under way at Emirates SkyCargo.The Dubai-based airfreight giant will also monitor demand for its freighter capacity in these turbulent times for the world ...
-
NewsDHL sees airfreight volumes slide in Q2
DHL Global Forwarding saw its airfreight volumes decline in the second quarter of the year, but its air gross profit was on the rise.The world’s largest airfreight forwarder reported a 2.4% year-on-year decline in second-quarter airfreight revenues to €1.2bn, while volumes dropped by 5.8% on last year to 502,000 tonnes ...
-
News
Cargolux and unions reach agreement
All-cargo carrier Cargolux and unions LCGB and OGBL have come to an agreement over two new collective work agreements (CWAs).The two agreements will result in "substantial improvements" for the more than 1,300 employees covered by the airline’s collective work agreement, the groups said.The improvements include a salary increase of 6% ...
-
News
IAG Cargo revenue decline consistent with market
In its 2019 half-year results, which were released today, IAG Cargo reported revenues of €281m from April 1 to June 30 – 3.2% lower than the same time period in 2018.Sold tonnes, yield for the quarter and CTK volumes were also down; 1.1%, 2.9% and 0.4% respectively. However, the company's ...
-
News
AAWW ‘well positioned’ to face near-term headwinds
Second-quarter results at Atlas Air Worldwide Holdings (AAWW) took a hit from tariffs and trade tensions between the US and China, but the global provider of outsourced aircraft and aviation operating services remains confident of its long-term growth.Revenue for the three months ended June 30, 2019 stood at USD663.9mn, down ...
-
News
US-China trade war escalates as Trump adds more tariffs
In a new development in the trade war between the US and China, US President Donald Trump is adding a 10% tariff to $300bn worth of imported Chinese goods, with effect from September 1.Congestion at airports – and disruption to wider supply chains – could occur in the short term, ...
-
NewsSilk Way West Airlines announces new APAC vice president
Copyright: Silk Way West AirlinesSilk Way West Airlines has appointed Jenny Zhao as its new vice president, Asia Pacific. Zhao will take over from Nurid Aliyev, who has stepped down for personal reasons.Zhao has more than 15 years of experience in the air cargo industry, having previously held senior management ...
-
News
CH Robinson: overall solid performance masks modal differences
Third-party logistics provider CH Robinson achieved net revenue of USD695.2m during the second quarter of 2019, up 3.5% year-on-year, in what chief executive Bob Biesterfeld described as a "solid performance".However, a breakdown according to different business areas reveals a mixed picture. While the strength of CH Robinson’s North American trucking ...
-
News
Forwarders move into finance
Freight forwarders are trading air cargo derivatives in an effort to offset the volatility of the spot market during the low season, according to Freight Investor Services (UK) – FIS.Since FIS launched the Air Freight Forward Agreement (AFFA) market in July, several leading forwarders have been using futures to hedge ...
-
News
SIA volumes fall amid global economic uncertainty
Following a disappointing performance in June, Singapore Airlines (SIA) saw its freight traffic decline during the first quarter of its 2019/20 financial year against a backdrop of weakening global demand.Cargo and mail carried during April–June amounted to 307,700 tonnes, down 3.3% on the same period of 2018. Traffic as measured ...
-
NewsCrane Worldwide Logistics announces new CEO
This week (Tuesday, July 30), Crane Worldwide Logistics announced the appointment of its new chief executive: Keith Winters.Winters, the second CEO to be appointed in the company's history, has replaced John Magee, who served as CEO for 11 years.Winters has extensive industry knowledge and experience that includes eight years serving ...
-
NewsDHL and Austrian Post strengthen collaboration
DHL Post HQ Tower in BonnFollowing on from their partnership in the Austrian market announced in March, Deutsche Post DHL Group and Austrian Post will also collaborate on last-mile parcel delivery in Slovakia and the Czech Republic, starting in September 2019.In Time (a subsidiary of Austrian Post) will deliver parcels ...
-
News
June airfreight rates down on last year, says Drewry
The latest Drewry East-West Airfreight Price Index indicates a dip in airfreight rates for June, compared to the same month of 2018.According to Drewry’s Sea & Air Shipper Insight: “Drewry’s East-West Airfreight Price Index inched up 1 percent in June – but remain 4 percent lower than in June 2018. ...
-
News
DSV reveals air freight performance for the half year
DSV's air freight volumes have slightly dipped this half-year, with amounts (in tonnes) increasing by 1% for the first half of 2019, but decreasing by 2% in the second quarter of the year. The decline is a result of trends in the market, as well as the termination of a ...