Business – Page 83
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NewsVolga-Dnepr Group firms up entry into B777F market
Volga_Dnepr-DAE Signing CeremonyThe Volga-Dnepr Group has firmed up its entry in the B777F sector with a lease deal for three of the aircraft from DAE Capital, following on from the confirmation of an order for nine of the aircraft with Boeing.DAE said that it had entered in a sale and ...
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NewsQatar Cargo takes aim at cargo top spot with commitment for five B777Fs
Akbar Al Baker (L) and Kevin McAllisterQatar Cargo has continued to home in on its ambition to the be the world's largest air cargo carrier with a commitment for five B777Fs valued at $1.8bn at list prices.The latest freighter deal builds on the airline's 777 Freighter order book as the ...
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NewsChapman Freeborn to target growth following acquisition by Avia Solutions
Aviation group Avia Solutions Group has entered into an agreement to acquire UK-headquartered Chapman Freeborn Group as the broker aims to accelerate growth.Terms of the deal, signed on June 14, were not disclosed and the transaction is expected to close in the third quarter of the year.Chapman Freeborn chief executive ...
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Is e-commerce worth the investment for air cargo?
Amazon is upping the ante in the race to the consumer’s door with the announcement that it is slashing delivery times for its Prime customers from a standard two-day window to next day.For now the change targets the US market, but Amazon has signalled that it intends to come up ...
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NewsPolmans and Gadhia to take the reins at TIACA
Source: TIACASteven Polmans, Director Cargo and Logistics at Brussels Airport Company will take over as Chairman of The International Air Cargo Association (TIACA), with Sanjeev Gadhia, Founder and Chief Executive Officer (CEO) of Astral Aviation, as Vice Chairman from next month.Polmans, who joined the TIACA Board in 2016, and has ...
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Combined DSV-Panalpina to take 6% of forwarding market
The combined DSV-Panalpina business will hold a market share of 6% when the deal is completed, according to a report by consultant Transport Intelligence (Ti)The Global Freight Forwarding Report 2019 described DSV's takeover of Panalpina as the "most high-profile development in the forwarding sector in the past twelve months".The merging ...
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NewsAir Canada 'finalising' binding agreement on Transat deal
Air Canada has confirmed that it is “in the process of finalising its binding agreement” to acquire Transat AT Inc, owner of Canadian carrier Air Transat.Air Canada announced on May 16 this year that it had entered into an exclusive agreement with Transat regarding the acquisition, though the agreement remained ...
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Transpacific air cargo rate outlook clouded by tariff troubles
Airfreight rates on major trade lanes continued to show a mixed performance in May.The latest figures from TacIndex show that on the Hong Kong-North America trade prices declined by 4.4% year on year in May to an average of $3.71 per kg.The fact prices are down on last year should ...
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New offices drive Air Partner’s freight growth
Air Partner’s Freight division has reported record profits of £4.9m, up 45.3% for the year ended 31 January 2019, accounting for 13.8% of the global aviation services group’s overall gross profit.Over the course of the last financial year, the group has expanded its team in Turkey and established a new ...
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NewsKuehne + Nagel issues CHF 400m inaugural bonds
Kuehne + Nagel International AG has issued two inaugural bonds for a total of CHF 400m in the ordinary course of financing. The proceeds of both bonds will be used for general corporate purposes.The company says first bond has a fixed coupon of 0.02% and a tenor of 3 years ...
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NewsDemand falls but capacity continues to rise in global air freight market, IATA stats reveal
5G buffer zones will be implemented at 50 US airports. Photo: ShutterstockGlobal air freight capacity growth has now outpaced demand for the last 12 months, resulting in a freight load factor that is currently 3.5 percentage points lower than a year ago.The International Air Transport Association (IATA) April statistics show ...
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IATA: airline profits fall further
The March/April Airlines Financial Monitor from IATA notes “a further fall in aggregate profits for the airline industry” for the first quarter of 2019, in comparison with the same three months of last year.Overall, IATA said the EBIT margin in its sample of 20 airlines had fallen to 3.6% from ...
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ACE Belgium Freighters hits back in name dispute
All-cargo operator ACE Belgium Freighters has hit back against a complaint made to the US Department of Transportation (DOT) over the use of the ACE name.On May 2, the Liege-based airline was given approval by the DOT to start scheduled and charter services between the European Union and the US.However, ...
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NewsCargo iQ makes changes on its board
L to R: Chris Davies, technology and product manager, Cargo iQ; Ariaen Zimmerman, executive director, Cargo iQ; Laura Rodriguez, implementation and quality manager, Cargo iQ; Henrik Ambak, senior vice president of cargo operations worldwide, Emirates SkyCargo; Megha Palkar, assistant manager, Cargo iQ; Kerstin Strauss, vice president and head of global ...
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Avianca sees cargo revenues fall following termination of Etihad partnership
Avianca saw cargo revenues decline in the first quarter following the termination of its commercial agreement with Etihad Cargo on freighter flights to Europe.The company said that revenues from its “cargo and other” business were down by 8.4% year on year to $180.3m in the first quarter, primarily due to ...
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NewsEmirates CCO resigns days after profit fall announced
Thierry AntinoriEmirates has confirmed that chief commercial officer Thierry Antinori has resigned from his position, where he managed commercial operations and products, Emirates Skycargo and Emirates Skywards.Adnan Kazim, divisional senior vice president, strategic planning, revenue optimisation and aeropolitical affairs, will take over as acting chief commercial officer.The news comes shortly ...
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Agility sees profits, revenues and airfreight increase
Kuwait-based logistics and infrastructure firm Agility saw revenues and profits increase during the first quarter of the year despite a slowing growth environment.First-quarter revenues at the company increased by 1.9% year on year to KD378.8m ($1.2bn), while ebitda was up 22.8% to KD46.3m and net profits imporved by 7.3% to ...
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US more than doubles Chinese tariff levels
The US has followed through on its threat to increase tariffs on $200bn worth of Chinese goods.Tariffs on Chinese products being imported into the US have been increased from 10% to 25% and China has threatened to retaliate.The types of products covered by the tariff increases includes: fresh food, processed ...
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NewsSouth America and Africa boost IAG Cargo in tough Q1
IAG Cargo managed to record an increase in airfreight traffic in the first quarter despite an overall market decline, although revenues for the period were down.IAG's cargo division saw cargo traffic increase by 2.6% year on year to 1.4bn cargo tonne kms, while revenues decreased by 0.4% on a year ...
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NewsSwissport's 'excellent' 2018 saw cargo revenues up by 6.5%
Swissport reported an “excellent year” in 2018 as the ground handler saw total group revenues surge by 6.7% to just under €3bn, with revenues in air cargo handling rising by 6.5% to €560m.The Switzerland-based company, whose parent is China’s HNA Group, recorded 2018 operating EBITDA of €273.2m, an increase of ...