Business – Page 98
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News
Glyn Hughes says welcome to Dallas
Dallas is the host city for this week's IATA World Cargo Symposium. Glyn Hughes, IATA’s global head of cargo, sets out the agenda for the three-day event:The 12th World Cargo Symposium (WCS) will once again bring together more than 1,000 senior industry leaders, influencers and experts representing the entire supply ...
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Antitrust regulator rejects Safair and SA Airlink deal
The South African Competition Commission has rejected the proposed purchase of Safair by South Africa (SA) Airlink over competition concerns.The Competition Commission said that it felt the merger of the two airlines would result in the removal of an effective competitor to SA Airlink on routes that it currently operates ...
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Strong 2017 revenues for West Atlantic
Swedish cargo airline West Atlantic saw strong revenue growth in full year 2017, mainly generated from the contract with Royal Mail and the rise in e-commerce traffic.Revenues of SKr1.6bn were up 20.4 % year-on-year, but there were “significant sub-charter costs”, caused by aircraft delivery delays of Boeing 737-400 aircraft, maintenance ...
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ATSG 2017 revenue and earnings boost, adding more converted B767Fs
US-based aircraft lessor Air Transport Services Group (ATSG) saw 2017 full year revenues up 39% to $1.1bn and announced that its Cargo Aircraft Management (CAM) leasing subsidiary will add two more Boeing 767-300 converted freighters to the fleet this year and a third in 2019.ATSG, which has a long-term B767F ...
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Airfreight's 'outstanding' 2017 for Kuehne+Nagel
Global freight forwarder Kuehne+Nage (K+N) reported an "outstanding" 2017 for airfreight as it saw tonnages surge by 20.4%, growing twice as fast as the overall market which was already at the highest peak since 2010.Announcing its 2017 full year results, the Switzerland-based logistics giant stated: "K+N’s industry-specific airfreight solutions, for ...
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IAG Cargo helped by "unexpectedly buoyant market" in 2017
IAG Cargo adapted to an "unexpectedly buoyant market" in 2017, following a "competitive trading environment" in 2016.Announcing its full year results for 2017, IAG airlines group, which includes British Airways, Iberia and Aer Lingus, reported that cargo revenue for the full year 2017 increased by 8% at constant currency to ...
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'Exciting' 2017 for Atlas and positive outlook for 2018
US-based Freighter operator and lessor Atlas Air Worldwide (AAWW) has reported record 2017 fourth-quarter earnings and record full-year revenues, with expectations of further business growth this year.AAWW’s revenue rose by 19% in the fourth quarter of 2017 compared to the same three months of 2017, while adjusted earnings before interest, ...
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Heathrow celebrates continued growth in cargo volumes
Heathrow Airport Ltd (HAL) has released financial and traffic results for last year, with increased freight traffic contributing to improved revenues and earnings.The gateway handled 1.7m tonnes of cargo during the 2017 calendar year, a 10.2% increase compared with 2016.2017 represented one of the strongest periods of business over the ...
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Agility reports on ‘critical’ 2017
Global logistic services provider Agility has reported a 14% rise in 2017 full year revenues to KD1.4bn.The Kuwait-headquartered operator saw EBITDA of KD135.2m in 2017, up by 17.4% year-on-year. Net profit at KD68.5m was up by 16% over 2016.Agility chief executive and vice chairman Tarek Sultan said: “In 2017, Agility ...
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NewsAsia cargo monthly: Cargo carriers off to a flying start
Asian airlines started the year strongly with many of the region’s major carriers reporting stronger growth than they achieved last year.The region’s largest cargo carrier group, Cathay Pacific, saw cargo demand increase by 10.5% year on year in January to 954m cargo and mail revenue tonne kms.This represents the group’s ...
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News2017 ends on a high for Air France KLM Cargo
Air France KLM Cargo (AF KLM) ended the year on a high as quarterly revenues reached their highest level since 2016.The Franco Dutch airline saw fourth-quarter 2017 cargo revenues reach €583m, up 6.8% year on year. This is the highest quarterly level since the fourth quarter of 2016.For the full ...
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International trade practices "archaic", says Freightos survey
International trade practices by US importers and exporters are “laughably archaic” say respondents to logistics technology provider Freightos' latest industry survey.With small businesses accounting for a third of total US imports, “a whopping 50% still rely on spreadsheets to manage shipments”, Freightos said after its survey of more than 500 ...
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New funding to boost JD.com’s logistics arm
Chinese e-tailer JD.com has signed an agreement with a number of investors to take a minority stake in its JD Logistics network.JD.com will remain the majority shareholder with an 81.4% shareholding in its logistics arm when the deal, which is expected to raise about $2.5bn, closes in the first quarter ...
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Ceva Logistics: going public in April?
US financial press reports suggest that supply chain management company Ceva Logistics may go public in April.Sources told the New York Post that an initial public offering of “roughly $1.5bn” is expected – which would make the company the second-biggest IPO of the year (after Brazil’s PagSeguro Digital payment services ...
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Jefferies expects forwarder performance to be divided in 2018
A report from global investment bank Jefferies says that while European freight forwarders are benefiting from accelerating global trade, the resulting inflationary freight rates are putting “unprecedented” pressure on yields and increasing the performance divide.Airfreight volumes rose by 10% year on year in 2017, while seafreight was up by 6% ...
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Singapore and Guyana strengthen ties with open skies deal
The Singapore Airshow 2018 was the setting for the conclusion of an Open Skis Agreement between Singapore and Guyana on February 4.The Air Services Agreement allows the airlines of Singapore and Guyana to operate any number of services between the two countries and on to any third country. There will ...
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TIACA reveals a new vision
TIACA has revealed a new vision for today’s business environment: “a forward-looking approach to representing, supporting, and informing every element of an efficient, modern, and unified air cargo industry”.That approach is set to include more training, consultancy and advocacy, alongside collaboration with other organisations and government bodies around the world.For ...
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Airfreight demand up 9% in 2017, strongest growth since 2010 says IATA
Global airfreight markets in 2017 saw demand grow by 9.0%, more than double the 3.6% annual growth recorded in 2016, and IATA expects a "very healthy 4.5% expansion" in 2018, measured in freight tonne kilometers (FTKs).IATA’s full year 2017 statistics show that airfreight capacity, measured in available freight tonne kilometers ...
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Bolloré Logistics takes majority stake in Denmark's Global Solutions
Bolloré Logistics has taken a majority stake in the Danish freight forwarder Global Solutions as part of the French forwarder’s “strategic development through external growth”.A Bolloré spokesperson said: “This latest transaction will expand further Bolloré Logistics’ network in Europe and the company’s global end-to-end offering in the Scandinavian markets.“Already established ...
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Aviation welcomes African open skies agreement
The African Union (AU) has launched the Single African Air Transport Market (SAATM) as it hopes to capitalise on the benefits brought by air transport.It is hoped that a single aviation market, launched yesterday at the AU Summit, will help promote trade, cross-border investments and create an additional 300,000 direct ...