Air France-KLM has posted a 20.5 per cent drop in fiscal first-quarter sales this week as the continuing weak economic climate depressed air travel and freight demand. Overall revenue totalled €5.19 billion in the three months to 30 June. Cargo revenue dropped 41.5 per cent to €544 million due to a decline in volumes of 22.7 per cent, a 17.2 per cent cut in capacity and a 25.1 per cent fall in yields. Sales in the carrier's passenger business fell 18.7 per cent to €4.01 billion … [Read more...] about AF-KLM sees cargo revenue drop 42% in Q1
Carriers
TNT continues Viet expansion with new ops hub
TNT, leading provider of integrated express services, officially opened its expanded and re-modeled International and Domestic Operations Centre in Ho Chi Minh City this week. Located next to Tan Son Nhat International Airport, the 3,000 sq metre facility features state-of-the-art technology for freight processing, tracking and security. TNT said it aims to "take a key position in contributing to the support of important national trade and development goals," by modernising and expanding the … [Read more...] about TNT continues Viet expansion with new ops hub
DHL profit plunges 71 per cent, outlook uncertain
Depressed revenue and bad debts pushed profit in the second quarter down 71 per cent for The world's biggest logistics company as Deutsche Post DHL warned of tough market conditions going forward. Profit plunged to US$93.7 million from $328 million a year ago. Mail, express, freight forwarding and contract logistics revenue all shrank by nearly 18 per cent to $15.8 billion. Operating income fell by a lower-than-expected 38 per cent to $392 million, aided by cost cutting. The Bonn-based company, … [Read more...] about DHL profit plunges 71 per cent, outlook uncertain
UPS sees net profit halved in Q2 from last year
UPS saw its net profit fall 49 per cent in the second quarter, to US$445 million with company saying it expects the weak global economy to remain just as weak in the coming months. “The business environment in the third quarter should be similar to the second quarter,†UPS CFO Kurt Kuehn said. Overall revenue at UPS fell 16.7 per cent in the three months ending 30 June from the same period a year ago as volume across its domestic and international operations fell 4.7 per cent. But on … [Read more...] about UPS sees net profit halved in Q2 from last year
Cargoitalia receives AOC but postpones scheduled services
Cargoitalia, the Italian international all-cargo carrier relaunched under new ownership, has received its AOC (Air Operator's Certificate) but has said it will now delay the planned start of scheduled services until September. The carrier said the receipt of its AOC meant flights could now commence using Cargoitalia's recently-delivered first MD11F. Although it had originally intended to begin services in May, the carrier said that due to the depressed air cargo market it would instead operate a … [Read more...] about Cargoitalia receives AOC but postpones scheduled services
Maximus to buy aircraft, move into scheduled services
UAE-based charter operator Maximus Air Cargo is planning to start its own scheduled freighter services. “This will either be under our own commercial responsibility or by going into a partnership with an established flag carrier,†said marketing manager Thomas Bommer. “It’s too early to give specific routes at this stage as we are in the process of analysing different scenarios. We think that Southeast Asia, China and the Indian subcontinent will be among the first … [Read more...] about Maximus to buy aircraft, move into scheduled services