Finance – Page 29
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News
Ten years after, airfreight still feels the effects of the global financial crisis
A decade after the collapse of Lehman Brothers and the global financial crisis (GFC) that followed, airfreight volumes are still feeling the effect.IATA says that the 22% peak-to-trough decline in freight tonne kilometres (FTKs) during the GFC was almost twice as large as that seen in the previous freight downturn ...
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Luxembourg, Cargolux and Bank of China sign finance MoU
Luxembourg’s finance ministry, freighter operator Cargolux and Bank of China have signed a Memorandum of Understanding for a $155m global credit line, with a first phase of around $45m implemented immediately.The agreement, signed in Beijing, foresees “several realms for cooperation in order to strengthen bilateral ties which include mid-term credit ...
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Europa Air & Sea posts record growth
The Air & Sea division of UK-based freight forwarder Europa Worldwide Group has posted second-quarter revenues of £35m, with record growth seen across both modes.Europa Air & Sea director Angus Hind said: “We’ve … seen a steady increase in UK exports for both air and seafreight, which I feel is ...
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Swissport declares ‘favourable’ half-year results
Swissport International has had a positive first half of 2018, with cargo volumes rising by five percent year on year to reach 2.3m tons.At €1.43bn, the handler’s total revenues for the January to June period showed an increase of 4.1% over the same six months of 2017. Cargo revenue climbed ...
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Aeroflot has good six months for cargo
Russian flag-carrier Aeroflot has reported its financial results for the first six months of this year, revealing a mixed picture.The news for freight was good. Cargo revenue rose by 13.9% year-on-year to RUB 8,178m as cargo and mail volumes grew by 10.6%.The carrier as a whole saw revenue rise by ...
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West Atlantic flies high in first half
Express and mail airline West Atlantic has reported on a successful first half to this year.Revenue over the first six months of 2018 rose by 7.1% compared to the January-June period of 2017.Earnings were up thanks in part to what West Atlantic described as “continued strong growth for the Group’s ...
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LATAM cargo revenues rise 16.8% in the second quarter
LATAM Airlines saw 2018 second quarter cargo revenues increase 16.8%, driven by a recovery in both imports and exports in the region.The Chilean-based carrier saw cargo revenues for the three months ended June reach $299.7m, helped by a 6.7% increase in cargo yields, mainly due to a better demand environment ...
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Cargo helps propel revenues at ACS
Charter firm Air Charter Service has recorded a 23% increase in revenues during its first half fiscal year on the back of growth in its cargo business.The company said that during the six months ended July 31, revenues reached £240.5m.ACS chief executive Justin Bowman said: “We have had a stunning ...
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NewsCathay Pacific sees cargo improve while overall losses are narrowed
Cathay Pacific saw cargo revenues soar during the first half of 2018, while the overall airline group managed to narrow its losses.The Hong Kong-headquartered carrier registered total cargo revenues of HK$13bn during the first six months of 2018, a 24% increase compared with the prior year.Cargo traffic for the period ...
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Agility airfreight's strong performance in Q2
A strong performance in airfreight helped Kuwait-based global logistics group Agility report second-quarter net profit of KD20m ($66m), an increase of 18.7% over the same period in 2017.Agility EBITDA grew 13.6% to KD37.1m, while revenue increased 12.3% to KD384.2m.First-half earnings of net profit of KD38.9 m were up 24%. First-half ...
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E-commerce and freight forwarding boost for DP DHL's second quarter
Deutsche Post DHL Group's (DP DHLG) revenue rose by 1.4% to more than €15bn in the second quarter of 2018, driven primarily by “significant gains” at DHL Express and Global Forwarding, Freight.The quarter's operating profit (EBIT) at the German logistics giant amounted to €747m, down by 11.2% against the record ...
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Freighter lessor ATSG's revenues on the rise
US freighter lessor Air Transport Services Group (ATSG) reported 2018 second quarter revenues of $203.6m, an increase of 6% after excluding $61.1m in reimbursed expenses from 2Q 2017.Adjusted EBITDA from continuing operations was $69.7m, up 9%.Joe Hete, president and chief executive of ATSG, said: "Growth in our aircraft leasing and ...
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NewsIAG cargo revenues climb in Q2 despite traffic decline
IAG Cargo saw revenues climb during the second quarter despite a decline in traffic during the period.The airline group saw total second-quarter cargo revenues increase by 3.7% year on year to reach €281m, while traffic declined by 0.3% to 1.4bn cargo tonne kms (CTK).Cargo volumes were flat at 173,000 tonnes ...
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Atlas Air reports strong second quarter despite loss
Atlas Air Worldwide Holdings has announced "strong second-quarter" 2018 business growth on the back of increased demand despite recording a loss for the period.The aircraft lessor saw revenues for the period increase 15.8% year on year to $666.1m, while it registered a loss from continuing operations before taxes of $21.1m ...
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E-commerce fuels XPO's second quarter
E-commerce helped XPO Logistics record a 16% year-on-year revenue rise to $4.36bn in 2018's second quarter, as the acquisitive US giant also gained $2.1bn of new business in the first six months of this year.Adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA) increased to $436.7m for the second ...
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NewsAir France KLM sees cargo revenues rise despite traffic decline
Air France KLM saw cargo revenues increase in the second quarter, despite a fall in traffic, while the overall airline group’s performance was affected by strike action.The latest financial results from the Franco-Dutch airline group show that cargo revenues increased by 7.3% year on year to €543m during the second ...
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Revenues and income increase at UPS in Q2
UPS saw revenues and net income increase during the second quarter of the year, while operating profit for the period came under pressure as a result of pension expenses.The express giant reported a 9.6% increase in total revenues for the second quarter to $17.4bn, operating profits declined by 13% to ...
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Panalpina swoops on another perishables forwarder while profits rise in Q2
Panalpina has again expanded its perishables network with the acquisition of a majority stake in South African firm Skyservices, while it has also announced its results for the second quarter.The Switzerland-headquartered forwarder said the acquisition of Skyservices gives it a presence in Johannesburg and Cape Town. Details of the deal ...
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K+N sees airfreight volumes grow ahead of the market in Q2
Kuehne+Nagel (K+N) recorded an above market increase in airfreight volumes in the second quarter of the year, while overall group profits were also on the rise.The Switzerland-based freight forwarder saw its airfreight volumes increase by 15.7% year on year during the April-June period to 441,000 tonnes compared with overall market ...
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Amerijet switching to indexed fuel surcharge
Miami-based Amerijet International Airlines is changing its fuel surcharge calculation method to an indexed model, “in order to more accurately follow the fuel markets”.The all-cargo carrier’s vice president of sales and marketing, Derry Huff, said: “This will provide both Amerijet and our customers a fair and transparent methodology which will ...