Business – Page 95
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News
CEVA launches IPO on Swiss stock exchange
The initial public offering (IPO) of CEVA Logistics (CEVA) was launched today with the traditional ringing of a cow bell to open the day's trading.CEVA chief executive Xavier Urbain was joined by executives from SIX and other members of the CEVA team to celebrate the company's arrival on the SIX.Werner ...
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IAG Cargo revenues on the rise in Q1 2018
IAG Cargo's first quarter 2018 results saw commercial revenues of €276m, a rise of 3.4%, or 10.9% at constant currency versus last year.The cargo division, which includes British Airways, Iberia, Vueling, Level and Aer Lingus, saw overall yield for the January to March period up 11.8% at constant exchange. Volumes ...
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Air cargo hedging for a paper market
In many industries index-linked block space agreements (BSA) and derivatives markets, also known as forward freight agreements (FFA) and paper markets, are normal.In shipping, for example, many bulk sectors have a paper market that offers the option to hedge against the volatility of prices in the physical market.Now, one company ...
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CH Robinson sees airfreight revenues increase by over 20% in Q1
US forwarder CH Robinson saw airfreight revenues increase by more than 20% in the first quarter of the year as market growth and acquisitions helped boost performance.The company said its freight forwarding division saw total revenues for the quarter increase by 18.1% to $553m on the back of double-digit volume ...
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Cargo heads upbeat on profitability for next 12 months
The majority, some 61%, of heads of cargo and airline chief finance officers expect their level of profitability to improve further over the coming 12 months.When surveyed in early-April by IATA, 67% of senior managers also indicated an improvement in year-on-year profitability in first quarter of 2018 compared with the ...
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NewsDSV sees airfreight volumes continue to grow
DSV continued to report strong growth in airfreight volumes during the first quarter of the year, while revenues also improved.The Danish forwarder saw first-quarter airfreight volumes increase by 10.9% year on year to 163,000 tonnes. Last year the company saw airfreight volumes improve by 10.6% year on year, helped by ...
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Air France KLM Cargo gets digital to smooth processes
The last few years have by no means been easy for Air France KLM Martinair Cargo (AF KLM) as it underwent a restructuring that saw it lose around 15% of staff over a three-year period.Its freighter fleet was also reduced from 15 aircraft at the start of 2014 to six ...
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NewsAmerican Airlines reports Q1 cargo revenue growth
American Airlines is the latest US carrier to report strong financial performance for its cargo during the first quarter of the year, with revenues and traffic increasing at double-digit percentage levels.The Dallas-headquartered airline saw total first-quarter cargo revenues increase by 18.8% year on year to $227m.The revenue increase comes on ...
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NewsLufthansa reports another strong quarter for cargo on rate increases
Rate increases helped boost revenues at Lufthansa’s cargo and logistics business in the first quarter of the year.First-quarter figures from the Frankfurt hubbed aviation group show that its logistics business segment saw revenues increase by 12.7% year on year to €641m in the first quarter.This is ahead of a 4.6% ...
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Union wants talks after Cargolux's record result
The LCGB union would like to enter into talks with Cargolux management after the airline announced record results which the trade body said was built on the back of staff working to their limits.Yesterday, the airline announced 2017 full year net profit after taxes reach $122.3m, compared with a prior ...
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NewsCargolux surges to $122m net profit in 2017
Cargolux Airlines saw 2017 full year net profit after taxes reach $122.3m, compared with a prior year $5.5m for the European freighter aircraft operator.For the first time in its history, the Cargolux Group exceeded one million chargeable tonnes flown, as FTKs increased by 12.3% in 2017 and the Luxembourg-based carrier's ...
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Air cargo set for index-linked BSAs and derivatives
The air cargo industry could have its first index-linked block space agreements (BSA) completed within six months while a derivatives market is also being launched.Shipping derivatives broker Freight Investor Services (FIS) and rate index TAC Index have teamed up to develop and launch a paper derivatives product, known as forward ...
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DP DHL's Appel: Walls are not the solution
Deutsche Post DHL chief executive Frank Appel is confident that trade will continue to grow despite recent protectionist rhetoric.Speaking at the company’s annual general meeting, Appel was optimistic about the economic environment, saying that global trade would continue to grow despite uncertainties.“The future is global. Anything else is a misconception,” ...
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K+N reports rapid airfreight growth boosted by acquisitions
Kuhne+Nagel (K+N) continued to report strong growth in its airfreight volumes during the first quarter of the year thanks in part to recent acquisitions.The world’s number two airfreight forwarder saw first-quarter volumes increase by 21% year on year to 422,000 tons as a result of market growth and the integration ...
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time:matters sales revenue up 55% in 2017
Express logistics provider time:matters saw 2017 sales revenue up 55% prior year to €108m as the Lufthansa Cargo-owned company targeted internationalisation and the digitisation of its service offering.In a statement, the company said that the opening of the first sameday air station outside of Europe, in Tel Aviv, represented "a ...
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UK air charter broker Hunt & Palmer buys Aircraft Chartering Services
UK air charter broker Hunt & Palmer (H&P) has acquired Aircraft Chartering Services Ltd upon the retirement of the founder, Mark Hugo.Aircraft Chartering Services was started in May 1986 and has established a "diversified client base consisting of world-renowned orchestras, government departments, niche tour operators and various corporations," according to ...
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Panalpina sees airfreight growth slow but profits takeoff
Freight forwarder Panalpina saw airfreight volume growth slow in the first quarter of the year, but profitability at the company was up.The Switzerland freight forwarder saw first-quarter airfreight volumes increase by 3% year on year to 241,000 tonnes, behind an estimated market growth of around 5%.The growth rate also lagged ...
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CEVA listing to take place on May 4
CEVA Logistics has announced its listing on the Swiss stock exchange will begin on May 4 and the company looks to raise around Sfr1.2bn.The all-primary share listing, which was announced earlier this month, will have a wide price spread of between Sfr27.50 and Sfr52.50.Initially, the forwarder had been hoping to ...
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Reports suggest Temasek considering investments in HNA's Swissport and airlines
Reports continue to circulate that Singapore state investor Temasek is looking to invest in several of debt-laden HNA's aviation assets.The South China Morning Post and Reuters have both reported unnamed sources as saying that Temasek Holdings is interested in buying a stake in Hong Kong Airlines and Hong Kong Express ...
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NewsUnited buoyed by improving cargo revenues
United Airlines Cargo saw cargo revenues improve by double-digit percentage levels during the first quarter of the year on the back of volume growth and higher rates.The Chicago-headquartered airline saw first-quarter cargo revenues increase by 23.1% year on year $293m – its sixth quarterly improvement in revenues in a row.Much ...