The Cathay Group reached another major milestone on its rebuild journey as it fully repaid the Hong Kong SAR (HKSAR) Government’s HK$19.5 billion investment. The Cathay Group has now bought back the remaining 50% – HK$9.75 billion – of the preference shares that were issued to the HKSAR Government as part of the Cathay Group’s 2020 recapitalisation. The Cathay Group previously bought back the initial 50% of the preference shares in December 2023. In addition, the Cathay Group has paid the … [Read more...] about Cathay fully repays the Hong Kong SAR Government’s HK$19.5 billion investment
e-commerce logistics
DHL extends partnership with Mitteldeutsche Flughafen AG until 2053
DHL Group has extended the framework agreement with Mitteldeutsche Flughafen AG (MFAG) ahead of schedule by a further 15 years until 2053. The company is making a significant contribution to the economic stability and future viability of Leipzig/Halle Airport and the region. In addition, the Group will continue to expand the aprons over the next few years and reaffirm its commitment to the Schkeuditz site. Tobias Meyer, CEO DHL Group said, “The DHL Hub in Leipzig is an important engine for … [Read more...] about DHL extends partnership with Mitteldeutsche Flughafen AG until 2053
Neste provides sustainable aviation fuel to United Airlines for use at Chicago O’Hare International Airport in the U.S.
Neste will provide up to 1 million gallons (3,000 metric tons) of Neste MY Sustainable Aviation Fuel™ to United Airlines for use at Chicago O’Hare International Airport (ORD) in the U.S. through the end of 2024. This expansion of the existing partnership between the two companies enables United to become the first airline to purchase sustainable aviation fuel (SAF) for operational use for flights from Chicago O’Hare, one of the busiest airports in the U.S. The first supply of Neste MY … [Read more...] about Neste provides sustainable aviation fuel to United Airlines for use at Chicago O’Hare International Airport in the U.S.
Boeing board names Kelly Ortberg President and CEO
Boeing announced that its Board of Directors has elected Robert K. "Kelly" Ortberg as the company's new president and chief executive officer, effective August 8, 2024. Ortberg will also serve on Boeing's Board of Directors. He will succeed Dave Calhoun, who earlier this year announced his intention to retire from the company, having served as president and CEO since January 2020, and as a member of Boeing's Board of Directors since 2009. "The Board conducted a thorough and extensive … [Read more...] about Boeing board names Kelly Ortberg President and CEO
Dachser completes acquisition of Brummer
The German-Austrian Brummer Group is now wholly owned by Dachser and has become a part of Dachser’s European network for the transport and storage of temperature-controlled food. This marks the beginning of Brummer’s full integration into the Dachser network. Customers will benefit from uniform quality standards. In April, to expand its own European food logistics network to cover Austria and neighbouring countries, Dachser announced its intention to acquire Brummer, one of Central Europe’s … [Read more...] about Dachser completes acquisition of Brummer
T’Way Air launches four new European destinations, Tamex to handle cargo sales and management
As part of its expanded schedule, T’Way Air is launching four new European destinations: Barcelona (BCN), Frankfurt (FRA), Rome (FCO), and Paris (CDG) in 2024. Cargo sales and management will be handled by Global GSA Tamex. In August, two new European routes will be launching. Incheon to Rome will be operating 3 times a week(D247) while Incheon to Paris will operate four times a week(D1356). This route addresses increasing demand and marks the opening of Tamex 's passenger belly network in … [Read more...] about T’Way Air launches four new European destinations, Tamex to handle cargo sales and management