FedEx and TNT Express said they still expect to merge in the first half of 2016 despite the European Commission’s decision to launch an in-depth investigation of the US firm’s 4.4 billion euro ($4.8 billion) acquisition of its smaller Dutch rival.
China’s HNA group is in a bid battle for Avolon, one of the world’s largest aircraft lessors, just days after agreeing the $2.8 billion acquisition of Swissport, the world’s largest airport cargo handler.
Of the top-50 air cargo traffic streams outside the trans-Pacific market, only three city pairs recorded a positive revenue development in the first half: Nairobi-Amsterdam, Chicago London and Mumbai-London, according to the latest market information from WorldACD.
The European Union has opened an investigation into FedEx’s efforts to acquire TNT Express on the grounds that there would be insufficient competition in the market.
IAG Cargo’s revenue grew 8.8 percent in the second quarter as favorable exchange rate movements offset lower traffic and a flat load factor.
Japan Airlines Corp.’s revenue from cargo operations grew faster than overall revenue in the first quarter of fiscal 2015, helping the carrier’s net profit surge 120.7 percent in the April-June quarter from the same three-month period last year to 32.6 billion yen ($263 million) on a consolidated basis.
Blue Dart Express, India’s leading air express and logistics service provider, posted a big jump in net earnings in the first fiscal quarter, as income from operations increased significantly, driven by new business strategies.
Lufthansa Cargo’s five-year winning streak ended abruptly in the second quarter as it slumped to a 68 million euros ($74.8 million) operating loss from a 20 million euro profit a year ago.
ANA Holdings Inc. saw its group net profit more than double year-over-year in the first quarter of fiscal 2015, which started in April, despite weaker revenue from cargo operations.
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.