Agility has announced its financial results for the third quarter of 2016, reporting a net profit of KD15.17 million (US$50 million), an increase of 11 per cent compared to the third quarter of 2015, despite revenues being down 7.0 per cent over the same period to KD312 million. EBITDA stood at KD28.90 million, a 19 per cent increase compared to the same period in 2015. Tarek Sultan, CEO of Agility, said: “We have now been seeing continuous underlying increase in the profitability of the … [Read more...] about Agility posts solid 3Q results despite revenue decline
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Emirates Group sees profits slide 64%
The Emirates Group has reported a 64 percent year-on-year drop in net profit to US$364 million for the first half of its financial year ending 30 September 2016. Group revenue rose one per cent in the period to US$12.7 billion with Emirates Airline contributing US$11.4 billion, down one per cent. Chairman Sheikh Ahmed bin Saeed Al Maktoum said the result reflected increased competition, a strong US dollar against other currencies, and sustained economic and political uncertainty in many parts … [Read more...] about Emirates Group sees profits slide 64%
FedEx Trade Networks expands Into Malaysia with Penang office
FedEx Trade Networks, a subsidiary of FedEx Corp. and a premier international freight forwarder, today announced the opening of a new office in Malaysia. Based in Penang, the additional facility highlights the continued expansion of FedEx Trade Networks to meet the growing market demand. “With our network stretching into Malaysia, we are well positioned to proactively respond to customer needs and support them in simplifying the complexities of international shipping,” said Udo Lange, … [Read more...] about FedEx Trade Networks expands Into Malaysia with Penang office
AF-KLM to launch new airline to compete with Gulf carriers
Air France-KLM has announced a new 'Trust Together' nine-point strategy to "return to a leadership position in our markets," which includes a new Air France airline called 'Boost', aimed at long-haul markets, according to chairman and CEO Jean-Marc Janaillac To be launched in the winter of 2017 and based at Paris CDG, it will have a fleet of 10 long-haul aircraft by 2020 with a specific focus to compete with Gulf airlines that are expanding into "key markets where Air France-KLM is pursuing … [Read more...] about AF-KLM to launch new airline to compete with Gulf carriers
AF-KLM sees Q3 cargo revenue slide 16.6%, total losses reach €430m
The Air France-KLM Group has reported a third quarter net profit of €544 million on a 5.1 per cent drop in revenue to €6.9 billion. For the first nine months of 2016, net income was €433 million on a 3.5 per cent fall in revenue to €18.7 billion. Cargo revenue continued to decline in Q3 – falling 16.6 per cent compared to the same period last year to reach €487 million. Another operating loss added €100 million to the group's Q3 2015 cargo loss of €81 million. Revenue from cargo for the … [Read more...] about AF-KLM sees Q3 cargo revenue slide 16.6%, total losses reach €430m
Qatar hopes to wrap up 49% Meridiana Fly stake by January
Qatar Airways’ negotiations with Meridiana Fly, for a 49 per cent stake in the Italian airline is ongoing and and should conclude by early next year according to Qatar’s group chief executive was also provided by Akbar Al Baker. “We are hoping to have our discussions concluded by the end of January. During this period Meridiana Fly also has to deliver certain conditions and achieve certain targets in its performance. We want Meridiana Fly to be a very strong national carrier with a robust … [Read more...] about Qatar hopes to wrap up 49% Meridiana Fly stake by January
