IAG Cargo’s 18.5% rise in revenue to €1.3bn ($1.6bn) was severely overshadowed by the group’s overall €7.4bn full-year loss. Passenger revenue dived 75%, from €22.4bn to €5.5bn, while it burned through €4.1bn in cash last year. Its cargo division, as with other airlines, was the star of the show, as yields rose 94.6%,...
Boeing 777 freighters will remain in the skies despite the recommendation to ground some B777 aircraft following a United Airlines engine failure on Saturday over Denver. Yesterday, Boeing said it “recommended suspending operations of the 69 in-service and 59 in-storage 777s powered by Pratt & Whitney 4000-112 engines, until the FAA identifies...
Atlas Air, as expected, had a rather good 2020: 2019’s losses of $293m turned into net profit of $360m – a turnaround of some $653m. Adjusted ebitda rose 67% to $844m for the full year and Atlas now has plenty of funding flexibility in a market flushed with liquidity. But perhaps the most...
Six global forwarders will ultimately determine the rates paid to airlines by Unicef for vaccine distribution. Yesterday, 16 airlines announced they had signed MoUs with Unicef to support its global vaccination plan. The agreements, which last five years, do not include pricing, according to the UN children’s organisation. “Pricing is outside the scope of...
It didn’t take long for privately-owned Dachser, a German 3PL with about €5.5bn of annual revenues, to change direction in 2021 after recent changes in its executive team. “With [Bernhard] Simon gone [operationally], the man who didn’t need advice from anybody, Dachser readies for a new adventure,” one source said. Simon is...
Chinese express giant SF Holding is to acquire a 51.8% stake in Hong Kong’s Kerry Logistics Network – a landmark $2.3bn deal creating the “biggest logistics group in Asia”. In a filing to the Shenzhen stock exchange late last night, SF Holding, which operates courier firm SF Express, said the move would...
– CEVA joins UAE-led initiative – Aims to deliver vaccines around the world – Consortium aims to distribute several billion doses by the end of 2021 Marseille, France January 21st 2021, CEVA Logistics has signed a Memorandum of Understanding with Abu Dhabi Ports to work with the Hope Consortium. The Consortium is the umbrella organization of a UAE-based...
PRESS RELEASE Supervisory Board approves investment for Lufthansa Cargo’s most important logistics facility in Germany Lufthansa Cargo will further develop and renew the logistics centre at its home hub in Frankfurt on a modular basis. The Supervisory Board of the German airfreight company has approved respective investments in a comprehensive infrastructure programme for...
Forwarders have expressed anger at the latest round of air terminal handling charge increases, calling them “monstrous”. WFS is the latest to unveil new charges for January, which, at Heathrow, include a £22.50 ($30.35) Covid charge, with import fees for loose cargo set at £0.20 per kg. Dnata, which, like Swissport, publishes charges...
Air Canada has announced that it is appointing Jason Berry, former head of Alaska Air Cargo, to lead its cargo team, following the departure of Tim Strauss for Amerijet. Mr Berry is currently president of McGee Air Services, a wholly owned subsidiary of Alaska Airlines, where he spent seven years most recently...
