IAG Cargo and Finnair Cargo have signed an agreement to share space on a freighter service between London Luton and Helsinki airports as the two carriers map out a new strategy following their decision not to operate their own cargo aircraft.
TNT Express posted a 6.2 percent increase in second-quarter revenue, driven by a stronger dollar and growing business from small and medium-sized customers.
Air France-KLM’s cargo business is sinking deeper into the red as its second-quarter operating loss soared to 78 million euros ($86 million) from 45 million euros a year ago despite desperate cost-cutting measures.
The slack season has hit the air cargo business hard this year with no sign of any improvement on the major trades as momentum steadily drains out of the market and freight rates tumble to new lows.
FedEx Express is re-engineering its global network by replacing older, higher capacity planes with more efficient, technically advanced aircraft that have lighter payloads. The result should be a more efficient, higher yield operation in an era of slower air cargo trade.
China’s busiest air cargo terminal in Shanghai continued its record-breaking run this year, posting the strongest first-half result in the company’s history.
The European Shippers’ Council adamantly opposed UPS’ proposed takeover TNT Express, but the group has no qualms with FedEx buying the ailing parcel provider for $4.8 billion.
UPS expanded the insurance and logistics services it offers shippers of high-value cargo such as jewelry by acquiring Insured Parcel Services from G4S, a global integrated security company.
UPS added eight origin and five destination countries to its expedited Worldwide Express Freight service, which now serves 58 countries. The service focuses on urgent, heavy-weight palletized freight.