All articles by Damian Brett – Page 117
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News
CargoAir continues fleet update with B737-800 conversions
Bulgaria-based CargoAir has ordered its fourth B737-800SF freighter conversion from Aeronautical Engineers, Inc (AEI) as it continues its fleet "revitalisation".The aircraft, (MSN 30883) is slated to commence modification at the end of October 2022, with all conversion-related touch labour to be performed by the authorised AEI conversion centre, Commercial Jet ...
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News
Cargo expansion helps Titan Airways to narrow losses
The delivery of new cargo aircraft helped UK-based freighter operator Titan Airways to narrow its losses and record revenues for the last financial year.For the 2021/2022 financial year running to March, the company reported record revenues of £121.1m, an increase of 110.1%, gross profits improved to £4.6m from a loss ...
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NewsAir France KLM Cargo charges up with solar car flight
Source: Air France KLM CargoAir France KLM Martinair Cargo (AFKMP) has taken part in a project to fly a solar-powered car that is taking place in South Africa's Sasol Solar Challenge.The Nuna 11s car was developed by the Dutch Brunel Solar Team from Amsterdam's Delft University of Technology and will ...
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NewsUPS expands in healthcare with Bomi acquisition
Source: UPSUPS plans to acquire healthcare logistics provider Bomi Group to expand its temperature-controlled facilities.The transaction will add temperature-controlled facilities in 14 countries - measuring 390,000 sq m - and nearly 3,000 employees."The acquisition will play a key role in the delivery of next-generation pharmaceutical and biologic treatments that increasingly ...
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News
ATSG sees revenues rise but profits fall in Q2
Freighter lessor ATSG saw its revenues rise but profits fall in the second quarter of the year as it faced higher costs, but benefited from more flying.The Wilmington-headquartered company reported a 24% year-on-year increase in second-quarter revenues to $510m, operating income for the period was down 16.6% to $70.5m and ...
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News
Atlas Air sees profits slide in Q2 as costs rise
Atlas Air Worldwide, which yesterday announced it is being acquired in a $3bn deal, saw volumes and profits take a hit in the second quarter while revenues improved.The company saw revenue grow to $1.2bn in the second quarter of 2022, compared with $990m last year, volumes totaled 83,922 block hours, ...
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NewsMaersk opens its war chest for project firm Martin Bencher
Source: MaerskCash-rich shipping giant AP Moller Maersk has announced the planned purchase of project logistics firm Martin Bencher as part of efforts to expand its supply chain offering.Maersk said the deal has an enterprise value of $61m and will allow the company to launch Maersk Project Logistics.Martin Bencher Group is ...
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NewsLATAM Cargo adds its latest freighter
Source: LATAM CargoLATAM has added another converted freighter to its fleet as it continues to expand its presence on the transatlantic.The freighter is the fourth of five freighter conversions it is due to receive this year and brings its total all-cargo fleet to 15 aircraft.The carrier is due to add ...
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NewsCargoAi makes two appointments
Ibarra (L) and Sakurai (R). Source: CargoAiBooking portal CargoAi has appointed a vice president of operations and head of finance as it continues to expand.Veronica Ibarra joins CargoAi as its vice president of operations and oversees the day-to-day customer support and strategic operational activities for CargoAI products.Ibarra will be based ...
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News
Atlas Air Worldwide to be acquired in $3bn takeover
Freighter firm Atlas Air Worldwide has entered into a definitive agreement to be acquired by an investor group in an all-cash transaction with an enterprise valuation of approximately $5.2bn.The takeover is led by funds managed by affiliates of Apollo, affiliates of JF Lehman & Company, and Hill City Capital.Under the ...
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News
UK customs says 3,500 firms face losing ability to import
UK customs (HMRC) has warned that 3,500 companies have yet to register for its new import system and could lose the ability to import goods.HMRC said that on October 1 import declarations will change from being processed through the current CHIEF system to the new Customs Declaration Service (CDS).Many businesses ...
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News
Pittsburgh Airport receives funding for air cargo development
Pittsburgh International Airport (PIT) will receive Federal Aviation Authority (FAA) funding to extend a taxiway that will be used to access a new cargo facility.The FAA has awarded a $3.3m grant to extend taxiway A, which will be used to access the new Cargo 4 facility, expected to open in ...
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NewsLufthansa Cargo revenues surge despite volume drop
Lufthansa's logistics division saw revenues and operating profits increase again in the second quarter of the year despite a small drop in cargo volume.The division, which includes Lufthansa Cargo, time:matters, Jettainer and the company's share of AeroLogic, saw its second-quarter revenues increase by 45% year on year to €1.3bn, while ...
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News
IATA: Air cargo demand declines narrow in June
Air cargo volumes were down again in June, although the level of decline eased compared with recent months as Covid restrictions in China began to be lifted.The latest statistics from IATA show that air cargo traffic in June was down 6.4% in cargo tonne km (CTK) terms compared with a ...
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NewsVirgin Atlantic Cargo approves use of Releye ULD
Source: Virgin Atlantic CargoVirgin Atlantic Cargo has approved the use of Envirotainer’s Releye RLP and RAP containers on its aircraft as part of efforts to develop its pharmaceutical and life science offering.The airline said that the container offers live tracking of location as well as temperature, humidity and product condition, ...
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InsightsMaindeck expansion positions Air Canada for cargo growth
US passenger airlines with global networks have long since shed their maindeck freighter fleets but north of the border there is a renaissance of the combination carrier business model.Air Canada Cargo has an order book for two production Boeing B777Fs, two production line B767 freighters and eight of its passenger ...
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Insights
Air cargo rates stabilise for summer period
Airfreight rates on key trade lanes were stable in July for the quieter summer period but remain far above pre-pandemic levels.The latest data from the Baltic Exchange Airfreight Index (BAI) show that average rates on services from Hong Kong to North America dropped by 2.6% in July compared with June ...
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Insights
Forwarder Focus: Looking ahead to a more positive 2023
A recent survey of Airforwarders Association members indicates that while the air cargo business is decelerating after one of the industry's strongest years ever, volumes remain robust, and many predict the first half of 2023 will be relatively positive.Forecasts indicate that airfreight will account for almost 25% of airline revenue, ...
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Insights
Putzger perspective: Cargo hub headaches
Most people loathe aviation hubs. Even at the best of times they seem messy and congested, welcoming travelers with long lines at security checkpoints and immigration stations.The seemingly endless cascade of flight cancellations and delays in recent weeks has turned them into nightmares for many, some kind of purgatory ruled ...
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Insights
Supply Chain Spotlight: Flightpath to the future
The UK government recently published its ‘Flightpath to the Future’ document, which contained its 10-point plan for aviation – a strategy aimed at building an innovative and sustainable aviation sector.While it is encouraging that the plan recognises the vital role of airfreight as a tool for levelling up and international ...