air cargo

US moves to confiscate Venezuelan 747 cargo jet with Iran ties

A white-and-blue jumbo jet on a runway.

The U.S. government asked Argentina on Tuesday to seize a Venezuelan Boeing 737-300 freighter with links to Iran for violation of export control laws.

The plane has been held by Argentine authorities since it landed in Buenos Aires in early June because of U.S. sanctions and concerns about potential espionage, news wires previously reported. Argentine officials are trying to determine what to do with the cargo plane loaded with automotive parts and an unusually large crew of 17, including at...

https://www.freightwaves.com/news/us-moves-to-confiscate-venezuelan-747-cargo-jet-with-iran-ties

Etihad upgrades cargo capacity with order for 7 Airbus A350 freighters

A colorful Etihad Airways jetliner takes off from Abu Dhabi airport.

Etihad Airways on Wednesday solidified an expression of interest with Airbus for seven future-model A350 freighters to expand its cargo operations, which posted record results in the first half of the year.

The Abu Dhabi-based airline earlier this year placed a tentative order for the A350 freighters, an offshoot of the popular A350 passenger jet that is in final development as a cargo jet. 

Etihad is one of six customers for the all-new freighter. Airbus now has 31 firm orders from Air France,...

https://www.freightwaves.com/news/etihad-upgrades-cargo-capacity-with-order-for-7-airbus-a350-freighters

Why Atlas Air has become tempting takeover target for investors

Close up of Atlas Air 747 jumbo jet. Front-half of white aircraft with blue and gold lettering.

Unconfirmed reports that Apollo Global Management is in advanced talks with Atlas Air Worldwide Holdings to take the freighter airline private provides the latest example of private capital flowing into the air cargo space. It’s a trend that accelerated during the COVID-19 crisis as aircraft became essential for delivering critical medical goods and supporting an explosion in online buying.

Top private equity firms sitting on hundreds of billions of dollars are looking to deploy their uninvested...

https://www.freightwaves.com/news/why-atlas-air-has-become-tempting-takeover-target-for-investors

UPS again named world’s most valuable logistics brand

For the eighth consecutive year, UPS Inc. has been named the world’s most valuable logistics brand by Brand Finance, a brand valuation consultancy.

According to a report published Tuesday by the London-based branding firm, UPS’ (NYSE: UPS) brand value in 2022 increased by 28% year over year to reach a value of $38.5 billion. FedEx Corp. (NYSE: FDX) was second at $26.6 billion. Uber Technologies Inc. (NYSE: UBER) was third at $22.8 billion.

The consultancy said that UPS’ brand value benefited by...

https://www.freightwaves.com/news/ups-again-named-worlds-most-valuable-logistics-brand

Expeditors’ volumes down, costs up but so are profits in Q2

Expeditors International moved a lot less air and ocean freight in the second quarter than last year, bringing in more revenue anyway but paying more for capacity.

The end result is Expeditors (NASDAQ: EXPD) managed to boost its operating income by 23% in part because it held salaries and other employment expenses in check.

Revenues for the ocean and air freight company climbed 28% compared to the corresponding quarter of 2021. But the cost of transportation rose 32%. 

That transportation spend...

https://www.freightwaves.com/news/expeditors-volumes-down-costs-up-but-so-are-profits-in-q2

More passenger routes help sustain IAG’s Q2 air cargo revenues

A large jetliner touches down on runway with smoke appearing from tires.

Cargo business tailed off during the second quarter at International Airlines Group, parent of British Airways and Iberia, in line with overall market softening due to inflation, pandemic lockdowns in China, the Ukraine invasion and airport congestion.

The three-month period ending March 31, nonetheless, was positive as the company returned to profitability for the first time since the pandemic. The company made 113 million euros ($115 million), although it lost $665 million during the first...

https://www.freightwaves.com/news/more-passenger-routes-help-sustain-iags-q2-air-cargo-revenues

Cargojet moving cheaper e-commerce goods, overstocked retail inventory

A large, white Cargojet freighter with blue tail parked by airport control tower.

Continued e-commerce momentum along with businesses favoring dedicated airlift for goods because of unreliable passenger airline service make Cargojet relatively insulated from a potential economic downturn, executives at the Canadian freighter company said.

Cargojet (TSX: CJT) operates an air cargo network between major Canadian cities carrying shipments for Amazon, Canada Post, DHL, Purolator and UPS. It also offers fully crewed leased aircraft on international routes for dedicated customers...

https://www.freightwaves.com/news/cargojet-flies-changing-mix-of-ecommerce-produc

DHL Express kicks off Munich airport expansion, Brazil freighter service

A mustard-yellow DHL plane on the tarmac on sunny day.

DHL Express on Wednesday moved to expand its air network and reduce delivery time with new investments in Europe and South America.

The parcel and logistics giant announced the groundbreaking on a $105.7 million gateway at Munich Airport, which will be seven times larger than the current facility it rents in the cargo center, and began direct freighter service between the U.S. and Brazil for the first time to support growing two-way trade between the countries.

The airport warehouse in Munich...

https://www.freightwaves.com/news/dhl-express-kicks-off-munich-airport-expansion-brazil-freighter-service

FreightWaves Classics/Leaders: Dutch Kindelberger led North American Aviation to new heights

An X-15 is launched from a B-52. (Photo: NASA.gov)

On this date 60 years ago (July 27, 1962), aviation pioneer and executive James H. “Dutch” Kindelberger died in Los Angeles at the age of 67. In his Associated Press obituary, Kindelberger was described as “one of the giants of America’s aerospace industry.” 

Early life and career

Kindelberger was born in Wheeling, West Virginia, in 1895. His nickname “Dutch” came from his German (Deutsch) ancestry. He dropped out of school in the 10th grade, and went to work as an apprentice in the steel mill...

https://www.freightwaves.com/news/freightwaves-classicsleaders-dutch-kindelberger-led-north-american-aviation-to-new-heights

Lufthansa cargo shipments slowed by ground staff strike in Germany

Side view of a Lufthansa plane being loaded with cargo at night.

A strike by ground workers for Deutsche Lufthansa seeking higher pay has forced the airline to cancel hundreds of flights at its Frankfurt international hub and Munich, with many cargo shipments expected to be delayed. 

The labor action is the latest setback for European airports where airlines have proactively canceled passenger and cargo flights, or rescheduled them for less busy periods, to help cope with congestion caused by a crush of travelers overwhelming an understaffed aviation system.

Lu...

https://www.freightwaves.com/news/lufthansa-cargo-shipments-slowed-by-ground-staff-strike-in-germany

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