IAG Cargo’s revenue declined nearly 8 percent in the third quarter as a reduction in British Airways freighter operations offset an improved performance at its Spanish partner Iberia.
Japan Airlines reported group net profit of 80.3 billion yen ($723 million), a drop of 2 percent year-over-year in the first half of fiscal 2014, despite a sharp rise in international cargo revenue.
ANA Holdings’ international cargo revenue surged more than 20 percent year-over-year in the first half of fiscal 2014, contributing to a big jump in the largest Japanese airline group’s net profit in the April-September period.
Lufthansa Cargo’s slim operating profit of 6 million euros ($7.6 million) in the third quarter, 20 percent higher than a year ago, maintained the carrier’s status as one of the few profitable scheduled air freight operators.
Chinese package delivery company S.F. Express was the fastest-growing global transportation company in 2013, increasing revenue 40.6 percent in a year when the 50 largest transport operators saw revenue go flat.
Air France-KLM’s troubled cargo business sank deeper into the red in the third quarter due to weaker demand and a two-week strike by pilots in September.
Air freight rates are on the rise heading into the peak season months of October and November, continuing a recent robust streak, Drewry Shipping Consultants says.
HONG KONG — Robert Mylod, the former Priceline CFO who played a major role in automating the online consumer travel market, has joined online freight pricing and quoting network Freightos, which plans to mimic the automated system that was such a game changer in the travel business.
Steady growth in air freight demand was recorded by Asia’s airlines during September as the industry continued to benefit from rising international trade.
TNT Express suffered its first operating loss in five quarters due to a provision for a potential antitrust fine and restructuring costs.