Business – Page 99
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News
FedEx trumpets $1.5bn investment in Indianapolis hub
FedEx is to investing $1.5bn to "significantly expand" the FedEx Express Indianapolis hub over the next seven years as part of a three-pronged pay, pension fund and infrastructure investment package outlined today.The US parcel and logistics giant's Memphis SuperHub will also be modernised and enlarged in a major programme, the ...
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NewsCargo the star performer for American Airlines
Cargo was the star performer for American Airlines in 2017 as revenues increased at a double-digit percentage pace on the pack of demand and yield improvements.The Dallas-headquartered airline registered a 14.3% year on year increase in cargo revenues to $800m on the back of a 15% jump in traffic to ...
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Swissport to seek IPO and listing on SIX Swiss Exchange
Swissport Group is to seek an Initial Public Offering (IPO) and listing of its shares on the SIX Swiss Exchange.Swissport's sole shareholder, China’s HNA Group, is expected to retain a long-term strategic shareholding following the IPO.The Switzerland-based global leader in ground handling and cargo services will continue to function as ...
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Air Partner sees strong second half results for freight in broker division
UK-based aviation services group Air Partner has reported a "good second half" financial year for its broking division, including "strong results in the US and in freight".In a trading statement ahead of the end of its current financial year on January 31, the company said: "Air Partner is pleased to ...
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Rhenus Group swoops on Brazilian forwarder to strengthen regional presence
The Rhenus Group has taken over Brazil-based freight forwarder and customs broker Pirâmide SeaAir in part to help speed up the flow of goods into and out of the country.The German logistics group said that Pirâmide SeaAirhas been operating as a licenced customs clearance broker for more than 20 years ...
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Lufthansa cargo capacity up by 3.3% in 2017
Lufthansa saw total group airlines cargo capacity (available cargo tonne-km) 3.3% higher in 2017 than in the previous year.Group cargo sales (revenue cargo tonne-km) in the January to December period increased by 7.4%, resulting in a load factor 2.7 higher percentage points than in 2016, reaching 69.3% for 2017.A full-year ...
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NewsAir cargo continues to improve in November while optimism for 2018 grows
Air cargo demand growth edged up in November despite a slowdown in October and indicators suggesting the sector has passed a cyclical growth peak.Figures from IATA show that air cargo traffic in freight tonne km (FTK) terms increased by 8.8% year on year in November compared with the 5.8% rise ...
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Experts downplay speculation that Home Depot will bid for XPO Logistics
Delivery expert ParcelHero has warned that a rumoured sale of XPO Logistics to US retailer Home Depot is "highly unlikely" and would harm XPO’s many UK retail and manufacturing clients.According to ParcelHero’s head of consumer research, David Jinks, a takeover bid by US-based DIY retailer Home Depot for XPO, in ...
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CAL Cargo wins online auction for last Jade B747 freighter
Israeli-owned freighter carrier CAL Cargo Airlines has confirmed that it purchased an ex-Jade Boeing 747-400ERF on China’s Taobao online auction platform.Offer Gilboa, owner of CAL-Cargo and Ace Aviation Services, commented: "I am very happy and proud that we have managed to win this bid.“This is a great new development for ...
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Liege Airport to invest more than €50m in cargo in 2018
Liege Airport will invest €30m in four new parking areas for large freighter aircraft next year, bringing 2018's total planned cargo investment to €50m at the busy Belgian hub.The announcement on additional freighter parking space follows November’s decision to provide a further 20,000 sq m of warehouses and handling facilities.“The ...
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HNA Group faces headwinds after buying spree
China's HNA Group, which has invested in several logistics assets, is facing headwinds following a spending spree that has left the company in debt and concerns over its ownership structure.Bloomberg reports that the company has seen three deals in the last three months fail and its short-term debts have reached ...
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News
Slow progress of e-AWBs down to market growth
The slow growth of electronic air waybill (e-AWB) penetration in 2017 is down to the overall improvement in air cargo demand, according to IATA.Each year the airline association sets a target for e-AWB penetration, which in 2017 was expected to be missed by a wide margin.The target for 2017 was ...
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Lack of airfreight space drives up "sky high" rates
Freight forwarders are continuing to report a lack of cargo space and "sky high rates", while claiming that some shippers are turning to ocean transport to avoid delays.According to the latest Freightos International Freight Index, the rush in demand for airfreight capacity has not abated, and shippers are turning to ...
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UK – China accord to boost flight connectivity
UK transport secretary Chris Grayling has revealed the details of a new deal between the UK and China that allows for a 50% boost in the number of passenger flights between the two nations.It builds on successful discussions held in October 2016 that saw limits on passenger flights between the ...
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Air cargo set for another solid year in 2018
Air cargo is expected to have another "solid" year in 2018, although growth is expected to slow and there are some potential challenges ahead.Speaking at the IATA Cargo Media Day in Geneva, the airline association’s chief economist Brian Pearce said he expected e-commerce and inventory restocking to drive “good growth” ...
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Strong cargo growth will help airlines hike profits
IATA is forecasting a 4.5% rise in global cargo carried from 59.9m tonnes in 2017 to 62.5m tonnes in 2018 in its latest analysis, contributing to an improvement in overall airline profitability to $38.4bn compared with an expected $34.5bn this year.While the cargo growth foreseen is below the expected 9.3% ...
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West Atlantic in talks with potential ‘significant’ shareholders
West Atlantic is in “advanced discussions” with “parties who have shown serious interest in taking on a significant shareholding in the company”, said chief executive and president, Fredrik Groth in the Swedish cargo airline’s third quarter interim report.Admitting that the carrier – a major air network provider to several European ...
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Widebodies boost Aeroflot’s cargo takings
Aeroflot Group’s cargo revenue rose 37.2% year-on-year to RUB11.3bn as it added new wide-body aircraft to its fleet and cargo and mail volumes grew by 38.9%, it said in its financial report for the nine months ended September 30.Total revenue, including passenger, increased to RUB 404.7bn, up 6.2% year-on-year, it ...
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Airlander damage ‘substantial’ says Hybrid Air Vehicles
Hybrid Air Vehicles (HAV) has admitted that its Airlander 10 airship sustained “substantial damage” when it broke free from its mooring on November 18.The company, which is developing a new design of lighter than aircraft, said it would be making a claim for up to £32m, the maximum insured value.The ...
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British Airways cargo cartel appeal rejected
The European Court of Justice has turned down British Airways attempts to have its fine for its alleged role in the air cargo cartel overturned.In a complex ruling, which can be found here, Europe's highest court dismissed the airline's appeal to fine the carrier €104m for operating a price-fixing cargo ...