LATAM Cargo fails to capture Latin American cargo upswing
Latin American economies are turning the corner, at least if airfreight is any indicator, yet beleaguered LATAM can’t seem to catch the momentum, posting a meager 0.8 percent year-over-year growth in revenue tonne kilometers (RTKs) in July. LATAM’s strategy of cutting capacity in the face of dwindling demand for its cargo product seems to be continuing apace, as well, with available tonne kilometers down 5.3 percent, y-o-y, for July, and down 9.1 percent for the first seven
Cargolux moves forward with Luxembourg headquarters
Luxembourg-based all-cargo airline Cargolux is moving forward with plans for a headquarters adjacent to its maintenance hangar in Luxembourg the company announced, bringing its employees together in a central location. Including crews and maintenance staff, Cargolux employs about 1,400 people in Luxembourg. The headquarters building will provide space for administrative staff and house the airline’s training organization, including crew training and Cargolux’s two 747 simulat
Qatar Airways to expand Latin America with cargo-friendly flights
While it still struggles with a Saudi-led boycott of trade with several Middle East nations, Qatar Airways is looking elsewhere and following through on its planned expansion of operations in Latin America. The Doha-based carrier announced plans to offer passenger flights on cargo-friendly A350-900 widebodies from Doha to Rio de Janeiro and Santiago, beginning next year. The newly announced flights will operate four times per week, with service from Doha to Rio de Janeiro bef
Agility first-half profits up, but feels pressure from lawsuit, rates
Kuwait-based Agility Logistics posted positive results during the first half of the year, as strength in the aviation services and industrial real estate sectors boosted profits. However, the logistics provider also felt pressure from higher airfreight rates and a US$95 million civil lawsuit settlement. Air and ocean revenue in Agility’s Global Integrated Logistics group rose, with a 14.7 percent increase in airfreight volume during the second quarter, compared to the previou
Austrian forwarder segments undergo ownership changes
In a series of restructuring moves in the Austrian freight forwarding market, DHL Global Forwarding Austria announced the divestment of its high-tech logistics division on Aug. 1, while transport and logistics company Gebrüder Weiss acquired the freight forwarder Kapeller Internationale Spedition GmbH on Aug. 11. DHL Global Forwarding Austria’s regional manager for Eastern Europe, Hermann Filz, said the high-tech logistics division needed significant investment soon to remain
Fraport reports higher Frankfurt cargo volumes for July
Mirroring reports of strong cargo demand growth across Europe, cargo throughput at Frankfurt Airport (FRA) continued to increase in July, rising 4.2 percent, year-over-year, to 188,009 tonnes, according to airport owner and manager Fraport AG. Year-to-date, total cargo traffic increased 4.7 percent, compared to the first seven months in 2016, to 1.3 million tonnes. FRA’s accumulated maximum takeoff weights for July also rose 1.4 percent to 2.8 million tonnes, topping the prev
Strong second quarter for Canada’s Cargojet
Strong second quarter for Canada’s Cargojet Canadian overnight air cargo operator Cargojet said its total revenues were up 11.2% over the previous year to $88.2m, in its results for the quarter ended June 30. Adjusted EBITDA earnings were up 9.3% over the previous year, at $24.6m. The company said revenues were up on increased volumes from existing overnight customers, contractual annual price increases related to the consumer price index and fuel surcharges. This was partial
Strong exports drive Hong Kong Airport cargo volume growth
Hong Kong International Airport (HKIA) reported year-over-year growth in cargo volumes of 11 percent in July, as volumes rose to 422,000 tonnes, with improvements in global trade. Exports supported most of that growth as they increased by 15 percent in July, while transshipments rose by 10 percent. July’s increase in HKIA’s cargo volumes is slightly below y-o-y growth for the first seven months of 2017, which increased by 11.3 percent to 2.7 million tonnes. On a rolling 12-mo
British logistics companies call for representation at Brexit negotiations
You’ve been broken up with your ex for more than a year. In that time, you realize perhaps you were a bit too hasty in calling it off. Do you pick up the phone and make that call? In post-Brexit U.K. that option grows increasingly attractive as the realities of economic isolation set in. But for those resigning themselves to diplomatic bachelorhood, salvaging existing business ties is a priority. “The government has recognized that it cannot drive the British economy off the
Rise in global pro-trade measures disrupts Trump’s protectionist narrative
Since last October, the World Trade Organization (WTO) registered the lowest monthly average implementation of new trade restrictions since the financial crisis of 2008, providing a surprising counternarrative to President Trump’s agenda, with the president tweeting just this morning that, “The E.U. is very protectionist with the U.S. STOP!” It turns out the European Union is actually quite disposed to free trade, outlining the framework for an economic mega-bloc with Japan e
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