The UK’s air freight shippers are nervously awaiting the publication of a long-delayed report that will recommend either London Heathrow or nearby Gatwick as the best site for a new runway in the crowded southeast of the country.
FedEx has formally asked European Union competition regulators to approve its 4.4 billion euro bid ($4.9 billion) for TNT Express two years after they rejected a planned 5.2 billion euro takeover by its U.S. rival United Parcel Service.
China’s three largest cargo airlines will join forces to form the largest air freight carrier in Asia, according to a senior official at the Civil Aviation Administration of China, mainland state media reported.
The transportation focus of China’s One Belt One Road strategy has so far been on improving maritime and rail links with Europe, Asia and Africa, but Beijing this week brought aviation into the picture, and in a big way.
The first five months the year were good to Asian air cargo carriers that recorded a 6.3 percent increase in demand for international air freight compared to the same period last year, according to the Association of Asia Pacific Airlines (AAPA).
Asia-U.S. air cargo freight rates have continued to slide as port operations on the West Coast have sharpened up since the crushing congestion at the beginning of the year, according to data from Drewry.
Global economic uncertainty and a slowing China continues to hang over cargo markets, with air and ocean transportation providers struggling to match capacity to demand while having little visibility going into the second half of 2015.
Any suggestion that freighter aircraft would play a lesser role in the supply chains of the future was firmly put to bed with 29 the number of all-cargo planes ordered from Boeing by the time the Paris Air Show ended this week.
FedEx reported its first quarterly loss since 2009, thanks to a $2.2 billion pension-related pre-tax charge that bit deep into earnings. Unfavorable exchange rates, a drop in international priority volume and low fuel surcharge revenue also stung the global transport operator.
Russian cargo airline Volga-Dnepr signed a memorandum of understanding today to buy and lease twenty Boeing 747-8 freighters with a combined list price of $7.4 billion for its AirBridgeCargo Airline unit.