All Finance Articles – Page 35
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News
ATSG sees Q1 revenues improve on Pemco deal and Amazon ramp-up
ATSG saw revenues, earnings from continuing operations before taxes and net earnings improve during the first quarter of the year thanks to its acquisition of Pemco and the roll-out of its Amazon business.The aircraft lessor reported revenues for the period up by 34.1% year on year to $237.9m, earnings from ...
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Ceva sees revenues and volumes improve in Q1
Ceva recorded a loss in the first quarter of the year despite an improvement in revenues and airfreight volumes.The freight forwarder saw first-quarter revenues increase by 1.9% year on year to $1.6n, operating income was up to $8m from $4m a year earlier but it registered a net loss of ...
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NewsAmerican sees cargo revenues and traffic improve in Q1
American Airlines saw its cargo traffic and revenues increase during the first quarter of the year, but this was not enough to stop yields declining.The US airline, which recently won the Cargo Airline of the Year award, registered a 13.8% year-on-year improvement in first-quarter traffic to 619m cargo ton miles, ...
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Alitalia to enter into administration
Alitalia will make a formal request to enter into bankruptcy after employees last week rejected a rescue plan.The Italian flag carrier’s board of directors, which convened after a shareholder meeting, decided to proceed with administration in light of the “serious economic and financial situation of the company”, the shareholders’ unavailability ...
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UPS reports revenues growth but operating profits face headwinds
UPS saw revenues increase by 6.2% during the first quarter of the year but fuel costs and currency effects put pressure on operating profits.The US express and logistics giant saw first-quarter revenues increase to $15.3bn from $14.4bn last year, while operating profits declined by 2.4% on a year earlier to ...
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NewsLufthansa's cargo segment leads the way as it gets back in the black
Lufthansa’s cargo and logistics business returned to the black at an operating profit level in the first quarter as it led the company to its best performance for the period since 2008.The airline group’s logistics division, which includes Cargo, time:matters and other cargo related shareholdings, saw revenues increase by 18.5% ...
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Accenture to buy Seabury's aviation consulting businesses
Professional services company Accenture is to acquire the aviation consulting businesses of Seabury Group, the New York-based professional services firm focused on the aviation industry.Accenture said that the combination of Seabury’s corporate advisory and consulting businesses, together with the new owner's global capabilities, “will help the world’s leading airlines accelerate ...
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NewsCargolux sees profits tumble despite traffic growth
Cargolux recorded improvements in cargo traffic and tonnes flown last year, but these increases failed to stop profits from declining by more than 80%.Figures released by the airline show that last year it registered a 9.2% improvement in traffic to 7.5bn tonne kms flown (FTK) compared with 2015, while total ...
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Alitalia's future in balance as shareholders called in
The future of Alitalia is hanging in the balance after workers voted against a rescue deal on Monday (April 24).In response to the vote, the Italian airline's board has called a meeting of shareholders - including Etihad, banks UniCredit and Intesa as well as infrastructure firm Atlantia - to discuss ...
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Panalpina sees airfreight grow but profits under pressure
Panalpina has recorded an above market increase in airfreight demand but in contrast profitability was flat.The first-quarter figures released by the forwarder revealed that airfreight demand during the period increased by 8% year on year to 233,000 tons, driven by Far East trade lanes. This is ahead of the estimated ...
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NewsUnited records double-digit cargo revenue improvement in Q1
United Airlines recorded double-digit improvements in cargo revenues and traffic during the first quarter of the year.The busiest US cargo carrier saw first-quarter cargo traffic increase by 20.3% year on year to 748m cargo ton miles.Revenues also improved during the period but by the lower amount of 13.4% against a ...
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NewsDelta records slight decline in cargo revenues and traffic
Delta Air Lines recorded a slight decline in cargo revenues and traffic in the first quarter of the year.The Atlanta-based airline saw first-quarter cargo revenues decline by 1.2% year on year to $160m, roughly in line with a 1.5% drop off in traffic to 470m cargo ton miles (CTM).Average revenues ...
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Intrepid delivers first of two B747-8 freighters to AirBridgeCargo
US lessor Intrepid Aviation has delivered the first of two new B747-8 freighters from Boeing and placed the General Electric GEnx powered aircraft on "very long term lease" with AirBridgeCargo (ABC), a part of the Volga-Dnepr Group.This latest handover comes after aircraft lessor BOC Aviation last week announced that it ...
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CEVA sees airfreight demand improve but records another loss
CEVA Logistics saw airfreight volumes grow ahead of the market last year but revenues decreased and it recorded another loss.The forwarder recorded a 5.5% year-on-year decline in revenues for 2016 to $6.6bn, while losses came to $159m last year compared with $195m in 2015.Adjusted earnings before interest, tax, depreciation and ...
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ATSG full-year profits down due to Amazon start-up costs
Aircraft lessor ATSG reported a double-digit percentage improvement in revenues last year but profits took a hit as it was affected by the start-up of its Amazon contract and pilot strikes.The Wilmington-based airline saw revenues for 2016 increase by 24% year on year to $768.9m, while earnings from continuing operations ...
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Double-digit airfreight growth for Panalpina but profits take a hit
Panalpina recorded a double-digit improvement in air cargo volumes last year but rate hikes in the second half of the year put pressure on profits.The Switzerland-based freight forwarder saw 2016 revenues decrease by 11.3% year on year to SFr5.2bn ($5.1bn), while operating profits were down 30.1% to SFr82bn and net ...
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Alitalia business plan takes a step forward
The board of directors of Italian airline Alitalia have agreed that a final adjusted business plan will be presented by the end of the month (March 2017).The board met yesterday (Thursday) to hear a review from independent advisors Roland Berger on the airline’s proposed business plan.The board was also presented ...
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E-commerce powers UPS record 2016 revenues
A US domestic e-commerce boom helped UPS’ last quarter revenues to accelerate by 5.5% across the global supply chain, leading to a full year record revenue result of $61bn for 2016.The logistics giant saw US domestic fourth quarter revenue climb 6.3% to $10.9bn, “driven by e-commerce” while international export shipments ...
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Pilots strike hits ATSG revenues
A fall in revenues due to a pilots' strike has seen US-based freighter lessor Air Transport Services Group (ATSG) advise that its adjusted ebitda* from continuing operations for the fourth quarter and full year 2016 will be around $7m lower than in its prior guidance.Said ATSG: “This reduction in guidance ...
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Etihad: not looking to take a stake in Lufthansa - official statement
Etihad has denied press speculation that it is looking to take a stake of between 30%-40% in German carrier Lufthansa.An Etihad Airways spokesman told Air Cargo News: "We can confirm that we are not looking to take a financial stake in Lufthansa.”This official quashing of rumours, which started in the ...