US air cargo carrier, Atlas Air Worldwide Holdings Inc. (AAWW) reported sharply higher earnings for the second quarter of 2007 on the corresponding period last year. For the June 30, 2007 quarter, AAWW earned $43.2 million, 304 percent more than in the second quarter of 2006. This included a substantial tax benefi t related to DHL Express’ investment in Polar Air Cargo Worldwide Inc. Revenues for the quarter totalled $370.4 million. The company said in a statement that the results refl … [Read more...] about AMERICA: Atlas Air reports increase in profits
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AMERICA: Descartes acquires Global Freight Exchange
Canada-based logistics solutions provider, Descartes Systems Group has acquired Global Freight Exchange Limited (GF-X), a leading electronic freight booking company in the air cargo industry. The acquisition of UKbased GF-X adds electronic air freight booking capability to Descartes’ Global Logistics Network (GLN), creating a global network capable of managing the entire air cargo shipment life cycle, Descartes said in a statement. Many of the world’s leading carriers and … [Read more...] about AMERICA: Descartes acquires Global Freight Exchange
AMERICA: Evergreen gets nod to fly Dreamlifters
The Federal Aviation Administration has given Boeing approval to let Oregon-based Evergreen International Airlines begin operating the fl eet of huge freighters that are delivering large pieces of the 787 jet to the fi nal assembly line. Evergreen International Airlines, a unit of McMinnville, Ore.-based Evergreen International Aviation Inc, will run and maintain Boeing’s fl eet of Dreamlifters, modifi ed 747s that in April began ferrying fuselage sections, wings and other large chunks … [Read more...] about AMERICA: Evergreen gets nod to fly Dreamlifters
EUROPE: BA World Cargo faces revenue decline
British Airways World Cargo has reported a reduction in commercial revenues (fl own revenues plus fuel surcharges) of 11.5 percent to £146 million for the fi rst quarter of its fi nancial year (April-June 2007) on the same period the previous year and down 7.3 percent after the effects of exchange rate movements are removed. Overall yields (revenue per cargo tonne kilometre - CTK) were down by 3.8 percent excluding exchangeeffects. “Exchange rate movements and the weakened dollar … [Read more...] about EUROPE: BA World Cargo faces revenue decline
EUROPE: Air freight picks up again, but not much
The International Air Transport Association (IATA) has released its latest traffi c results for the fi rst six months of the year showing 2.7 percent growth in freight volumes, well below the 4.6 percent growth recorded for the fullyear in 2006. Air freight growth was led by airlines in the Middle East during the fi rst half of the year at 11.7 percent. Demand in Asia Pacifi c rose 4.6 percent during the same period, although demand surged to 7.4 percent in June following a 7.6 percent … [Read more...] about EUROPE: Air freight picks up again, but not much
EUROPE: Shippers Forum rejects US security law
The Global Shippers Forum (GSF) has voiced “grave concerns” about the cargo scanning mandates in the new US security law, which requires scanning of all air cargo carried aboard commercial aircraft within three years, and all maritime containers destined for the US at foreign ports after fi ve years. GSF claims that 100 percent scanning will result in enormous costs to consumers without accomplishing what the requirements seek to achieve. In a comment to the Shipping Gazette it … [Read more...] about EUROPE: Shippers Forum rejects US security law
