Finance – Page 4
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NewsCIS acquires Acuitive’s AcuAudit
Generic Financial funding generic Photo: Number1411/ Shutterstock 530884729 Photo: Number1411/ Shutterstock Global provider of freight audit and payment solutions Cass Information Systems (CIS) – not to be confused with IATA’s CASS settlement platform – has acquired ocean and airfreight audit platform AcuAudit from Acuitive Solutions. AcuAudit is ...
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NewsFedEx Freight to be split from FedEx and Q2 Express revenue flat
The board of FedEx has agreed to separate FedEx and FedEx Freight
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NewsCargoLogicAir stock at Schiphol and Han to be sold
CargoLogicAir’s stock at Schiphol and Hahn will be sold this year
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NewsExecutive team shuffle for SEKO
SEKO Logistics has announced several new senior appointments with the successful close of its previously announced recapitalisation
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NewsNordic Aviation Group files for bankruptcy
Photo: Number1411/ Shutterstock Estonian Nordic Aviation Group has filed for bankruptcy and ceased operations of its two airlines, Nordica and Regional Jet, which is branded as Xfly. The announcement by Nordic follows the decision by potential investor Lars Thuesen, owner of Danish carrier Jettime, to not proceed ...
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NewsSF Holding raises $749m with 'flat' Hong Kong listing
Source: ACN Newswire Chinese express giant SF Holding raised $749.3m in a listing on the Hong Kong Stock Exchange that will be used to fund plans to expand internationally. The company, which owns SF Express and SF Airlines, said that through the IPO it aimed to “further ...
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NewsATSG swings to a loss in Q3
Image source: Shutterstock Aircraft lessor ATSG reported a loss in the third quarter of the year as block hours decreased and costs increased. The company, which is in the process of being bought by investment firm Stonepeak for $3.1bn, saw revenues decline by 9.9% to 471.3m, operating ...
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NewsDouble-digit improvements for revenues and volumes at IAG Cargo in Q3
IAG Cargo shipments loading on aircraft Photo IAG Cargo via Hill+Knowlton StrategiesIAG Cargo enjoyed a bumper performance in the third quarter of the year with cargo revenues and volumes improving on a year earlier thanks to additional capacity and increased demand.The cargo division, which includes the cargo capacity of British ...
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NewsAir France KLM Cargo eyes Asia as performance improves in Q3
Source: Semmick Photo Shutterstock.comAir France KLM Martinair Cargo recorded improvements in cargo volumes, revenues and yield in the third quarter as it benefitted from rising demand out of Asia Pacific.The Franco-Dutch airline group noted a 0.6% increase in overall third-quarter cargo revenues to €561m, while cargo traffic revenues improved ...
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NewsEmirates SkyCargo volumes up 16% in first half
Dubai International. Source: Karol Ciesluk / Shutterstock.comEmirates SkyCargo has reported a rapid increase in volumes in the first half of the year thanks to general market improvements and additional freighters.The freighter operator reported a 16% year-on-year increase in cargo volumes to 1.2m tonnes over its fiscal first half year running ...
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NewsCharter demand boosts Cargojet's performance in Q3
Demand for charter operations helped boost revenues for Canada-based freighter operator Cargojet in the third quarter of the year.The company reported a 14.8% increase in overall revenues to C$245.6m for the third quarter, with ACMI revenues up 12% to C$70.2m, domestic network up 5.2% to C$97.3m and all-in charter revenues ...
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NewsDHL Global Forwarding sees Q3 airfreight revenues rise but profits under pressure
DHL Group CEO Tobias Meyer. Photo: DHL GroupDHL Global Forwarding saw its air cargo volumes and revenues rise in the third quarter led by trades out of Asia but gross profits came under pressure due to rising rates.The forwarding business registered an 8.5% increase in air cargo volumes to 445,000 ...
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NewsATSG to be acquired for $3.1bn
Photo: Number1411/ ShutterstockInvestment firm Stonepeak is set to acquire US freighter lessor and operator Air Transport Services Group (ATSG) for $3.1bn.The two businesses have entered into a definitive agreement, which has been unanimously approved by ATSG’s board of directors.Upon completion of the transaction, ATSG's shares will no longer trade on ...
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NewsAir Canada reports 18% cargo revenue growth in Q3
Photo: Air CanadaAir Canada saw 18% year on year cargo revenue growth in the third quarter of 2024, primarily due to thriving belly cargo in the Pacific market.Revenues reached C$253m during the quarter ended September 30, up from C$215m during the third quarter of 2023, said the Montreal-headquartered airline.In its ...
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NewsLufthansa Cargo sees profits improve in Q3
Source: Lufthansa CargoLufthansa's logistics division reported rising revenues and operating profits in the third quarter of the year as capacity was added and yields were on the up.The division, which includes Lufthansa Cargo, time:matters, Jettainer, HeyWorld and a 50% stake in AeroLogic, saw third-quarter revenues increase 16% year on year ...
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NewsKuehne+Nagel predicts a muted air cargo peak season
© 2024 Kuehne+Nagel. All rights reservedKuehne+Nagel is expecting a muted peak season this year due to customers "front-loading" volumes to avoid potential disruption.Following the announcement of its third-quarter results, the world's largest forwarder provided its perspective on the coming air cargo peak market.The company is expecting its air cargo volumes ...
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NewsUPS profits and revenues improve in Q3
Source: UPSUPS registered improvements in its revenues, operating profits and net profits in the third quarter of the year as volumes returned to growth.The express giant saw its revenues for the third quarter increase 5.6% year on year to $22.2bn, while operating profits were up 47.8% to $2bn and net ...
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Seko responds to market pressure with recapitalisation
US forwarding and logistics firm Seko Logistics has recapitalised to strengthen its financial position and allow for future investments.The company said it had successfully entered into a definitive agreement on a transaction with its key financial partners, although it has not outlined the exact details of the refinancing.The agreement is ...
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Cathay ends Covid financial ties with government
Hong Kong-based Cathay Pacific Airways has completed the buyback of all of the warrants it had issued to the Hong Kong SAR (HKSAR) Government in 2020 as part of its pandemic-induced recapitalisation.The total consideration paid for the warrants buyback was about HK$1.53bn. On July 31, Cathay redeemed the remaining 50% ...
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NewsCargojet invests in more 767s as Q2 revenue climbs 10%
Cargojet has affirmed its focus on growing 767 freighter operations with the acquisition of two more passenger aircraft for future conversion.The Canadian cargo airline confirmed it had two 767s currently undergoing conversion, but said it had also invested in two more of the type."Cargojet currently has two B767 passenger-to-freighter conversions ...