Business – Page 84
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NewsDHL sees airfreight volumes slide but rates boost revenues
DHL Global Forwarding saw its airfreight volumes decline for the fifth quarter in a row in the first three months of the year, but profits at its air division increased as rates improved on a year ago.The Deutsche Post-owned freight forwarder reported a 4.2% decline in airfreight volumes during the ...
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NewsEmirates' annual cargo volumes edge ahead despite "significant headwinds"
Dubai aviation giant Emirates Group faced "significant headwinds" in global airfreight during the 2018-19 financial year which saw its airline record a 1.4% rise in airfreight volumes to just under 2.7m tonnes.The Middle East group's cargo handling arm dnata saw near static volumes in 2018-19, edging ahead just 0.3%, to ...
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ATSG boosted by Omni, Amazon and DHL
ATSG saw revenues increase by 71% in the first quarter of the year thanks its purchase of Omni Air while it expects a further boost from expanded contracts with Amazon and DHL.The aircraft lessor and operator saw first quarter revenues reach $348m, while earnings from continuing operations increased by $7m ...
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NewsAdidas turns to airfreight to mitigate supply chain shortages
Sportswear giant Adidas is turning to airfreight as it looks to mitigate supply chain shortages caused by an unexpected increase in demand for certain products.In its first-quarter results, the Germany-headquartered multinational said that revenue growth during the first three months of the year was affected by product shortages.It warned investors ...
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US threatens further tariff hike on Chinese goods
US retailers are bracing themselves for increases in US tariffs on Chinese goods after president Donald Trump took to Twitter over the weekend to threaten further hikes in rates.On Sunday, president Trump said that the 10% tariff rate on $200bn worth of Chinese goods would good up to 25% on ...
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Atlas sees revenues grow on increasing demand
Atlas Air Worldwide Holdings (AAWW) saw adjusted profits increase in the first quarter of the year as a result of increasing customer demand.The aircraft lessor and operator reported first-quarter operating revenues of $680m, while adjusted income for the period was up 14.7% to $27.3m and adjusted earnings before interest, tax, ...
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NewsDHL extends ATSG freighter leasing deal
A DHL B767F like those leased by ATSGDHL has extended by three years its deal to lease 14 Boeing 767 freighters from ATSG subsidiaries.The aircraft lessor said that it would also operate eight of those aircraft within DHL's North American Network.The agreements include:- The extension of eleven aircraft leases between ...
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High Court dismisses legal challenges to Heathrow's third runway
The High Court in London has ruled against campaigners challenging the legality of the UK government’s decision to allow a third runway at Heathrow Airport. The challenges were from a coalition of objectors including the Mayor of London.Caroline Russell, chair of the London Assembly Environment Committee, said: “Although the Government’s ...
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NewsProfits tumble at Lufthansa's cargo business
Lufthansa’s cargo and logistics segment saw operating profits tumble in the first quarter as volumes declined and expenses increased.Lufthansa’s logistics segment, which includes Lufthansa Cargo and other businesses such as time:matters and Jettainer, saw first-quarter revenues decline by 4% year on year to €616m while earnings before interest and tax ...
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NewsDSV expects Panalpina deal to complete in Q3 as profits rise
DSV expects to close its takeover of Panalpina by the end of the third quarter of this year.In its first quarter results, Denmark-based freight forwarder DSV revealed its expected timeline for its $4.6bn takeover of Panalpina.In May, DSV will file its planned share purchase with the relevant authorities, announce its ...
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NewsCEVA airfreight volumes fall in Q1, management changes after CMA CGM takeover
CEVA Logistics saw a decline in airfreight volumes during the first quarter of 2019 and the parent group has announced a series of top management changes in line with the takeover by French shipping giant CMA CGM.Air cargo volumes in the first quarter fell 6.9% year-on-year to 100,000 tonnes, mainly ...
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NewsTurkish Cargo's Özen the latest to join Tiaca board
Turhan ÖzenTurhan Özen, chief cargo officer of Turkish Airlines and the head of the Turkish Cargo, has been elected to the Board of The International Air Cargo Association (TIACA).Özen has an extensive knowledge of the territories surrounding Turkey, having overseen business development in the Balkans, Middle East, and African regions.“With ...
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UPS profits hit by severe winter weather
UPS saw profits decline in the first quarter of the year as extreme winter weather hit earnings.During the period, the company saw revenues increase by 0.3% to $17.2bn while net income declined by 17.4% to $1.1bn.The company said that its profits were affected by “severe winter weather in the US” ...
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Panalpina continues to expand in the perishables sector with its latest acquisition
Panalpina will continue the expansion of its perishables network in South America through the acquisition of CargoMaster in Colombia and its subsidiary, Laseair, in Ecuador.Panalpina said that CargoMaster is one of Latin America’s largest companies specialised in the airfreight export of perishables, mostly flowers to the US.From Colombia and Ecuador, ...
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NewsK+N first quarter airfreight volumes fall 3.1% in a 'declining market'
Source: K+NKuehne + Nagel (K+N) saw 2019 first quarter airfreight volumes fall 3.1% to 409,000 tonnes, citing "significant increases in tonnage in the previous years" against the backdrop of "a declining market".The world's largest freight forwarding group recorded a net turnover rise of 7.7% to SFr5.2bn in the first three ...
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NewsCargolux reports record profits despite challenging market conditions
Cargolux B747-8FLuxembourg-based airline Cargolux saw net profits after tax increase by 72.7% year on year in 2018 to $211.2m thanks to its new ACMI operation, a record year for charter and demand for increased demand for specialist shipments.Consolidated revenues at the airlines for the year increased by 16.4% year on ...
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NewsMiami airport’s Pineda to join Tiaca’s board
Emir PinedaMiami airport’s Emir Pineda has been elected to the board of The International Air Cargo Association (TIACA).Pineda is trade & logistics manager for the marketing division of the Miami-Dade Aviation Department, which operates Miami International Airport (MIA).Pineda started his career as an intern at MIA in 1988 before embarking ...
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NewsPanalpina airfreight volumes improve in Q1 despite market decline
Panalpina has bucked market trends by reporting an increase in air cargo volumes in the first quarter of the year, while overall profits and revenues were also on the up.The company, which looks likely to merge with Denmark’s DSV, saw airfreight volumes increase by 8% in the first quarter to ...
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NewsRhenus acquires Miami-based Freight Logistics Group
Picture: Freight Logistics.Rhenus has acquired Miami-headquartered high-tech supply chain specialist Freight Logistics as the German freight forwarding group continues on the acquisition trail in the Americas.Florida-based Freight Logistics operates its own consolidation hub located near in Miami International Airport and has offices in Argentina, Brazil and Chile.The Freight Logistics acquisition ...
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Jet Airways suspends all international flights until Monday
Troubled Indian airline Jet Airways has suspended all international flights until Monday night, with fears mounting that it could fail.The airline has debts of $1.2bn and earlier this week cargo handler WFS seized one of its aircraft over unpaid fees.Today, the airline announced that all international flights would be suspended ...