Business

US couple found guilty of fraud against National Air Cargo

Two people have been found guilty of defrauding US logistics company National Air Cargo of $5m in a wire fraud…

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Air Canada cargo revenues drop 27% in 2023

Air Canada’s full year 2023 cargo revenues declined 27% year on year due to reduced air cargo demand and a…

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DSV sees air revenues and volumes tumble in 2023

DSV’s airfreight revenues, volumes and gross profits all took a hit last year due to improved ocean shipping operations, high…

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UPS to cut 12,000 jobs as market downturn bites

UPS has announced it will cut more than 12,000 jobs as part of efforts to reduce costs in light of…

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UPS still struggles with revenues in Q4

UPS revenues in the fourth quarter dropped nearly 8% year on year as volumes fell in both the domestic and…

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Flexport set for another round of job cuts

Reports suggest freight forwarder Flexport will make a third round of redundancies in just over a year. Tech publication The…

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US carriers see cargo revenues slide in 2023

The big three US airlines saw their cargo revenues decline last year as rates and volumes came under pressure. United…

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Forwarder Flexport raises $260m through Shopify

Freight forwarder Flexport has raised $260m in funding from e-commerce platform Shopify. The company, which last year had to make…

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Freighter financing deal for Crestone Air Partners

Aviation asset management platform and lessor Crestone Air Partners (CAP) has secured financing for more freighters. Ashland Place Finance LLC,…

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 Vancouver Airport in line for major expansion funding

The Government of Canada will invest up to C$74.3m at Vancouver International Airport to enable it to handle more cargo. This…

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