Airlines Archives - Maritime Shipping News

Uptick in airfreight rates creates mirage of market recovery

16 October 2023

Air logistics stakeholders may want to pump the brakes on celebrations of shipping volumes and rates finally climbing from the depths of a prolonged downturn. Newfound optimism is tempered by the fact that growth has more to do with normal seasonal patterns than a fundamental shift in demand. The market is essentially flat versus an anemic final stretch in 2022, according to the latest data.

And with no signs of a demand push as consumer finances get squeezed, analysts remain bearish about...

https://www.freightwaves.com/news/uptick-in-airfreight-rates-creates-mirage-of-market-recovery

COVID cost initiative boosts Cargojet margins despite drop in volumes

15 August 2023

Cargojet, an all-cargo airline that operates a domestic express network in Canada for customers such as Amazon and DHL Express, on Monday said reduced flying in response to a slowdown in shipping and tight cost management during the second quarter helped maintain profit margins that were better than analysts expected.

The company recorded adjusted earnings before interest, taxes and accounting measures sliding 8.4% to $57.7 million ($74.3 million Canadian). A nearly 10% reduction in expenses,...

https://www.freightwaves.com/news/covid-cost-initiative-boosts-cargojet-margins-despite-drop-in-volumes

Atlas Air promotes Michael Steen to CEO

4 May 2023

Cargo airline Atlas Air on Thursday announced that Chief Commercial Officer Michael Steen will take over as CEO on June 15, replacing John Dietrich in line with the company’s succession plan, and that CFO Spencer Schwartz will retire the same day.

A new chief commercial officer will be named after Steen, 56, is officially appointed as CEO.

Dietrich, 58, is retiring after nearly 25 years with the company, which was acquired by investors led by hedge fund Apollo Global Management (NYSE: APO) in...

https://www.freightwaves.com/news/atlas-air-promotes-michael-steen-to-ceo

CMA CGM Air Cargo ‘temporarily’ suspends US operations

16 December 2022

googletag.cmd.push(function() { var gptSlot = googletag.defineSlot(‘/21776187881/FW-Responsive-Main_Content-Slot1’, [[728, 90], [468, 60], [300, 100], [320, 50]], ‘div-gpt-ad-b1-i-fw-ad-1’).defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads());
gptAdSlots.push(gptSlot);
});

googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-b1-i-fw-ad-1’); });

CMA CGM Air Cargo, the startup airline of France-based shipping giant CMA CGM, abruptly dumped...

https://www.freightwaves.com/news/cma-cgm-air-cargo-temporarily-suspends-us-operations

Air cargo execs more nervous over consumer pullback

15 November 2022

MIAMI — Air cargo airline and logistics executives have written off the traditional peak season bump in shipping business as the global economy decelerates, leaving them to speculate whether prospects will improve sometime in 2023.

The growing pessimism, following 18 months of record-setting volumes and revenues, was underscored by International Air Transport Association data last week showing a 10.7% decrease in cargo demand in September compared to the prior year. Continued contraction in...

https://www.freightwaves.com/news/air-cargo-execs-more-nervous-over-consumer-pullback

Delta invests in Joby and home-to-airport drone service

11 October 2022

Nobody likes a layover. Those hours spent at the airport would be better spent in Aruba, Jamaica or whatever destination you’re headed to.

But very soon there could be a different kind of connecting flight — one that you won’t want to pass up.

That’s because Delta Air Lines (NYSE: DAL) on Tuesday announced a multiyear partnership with Joby Aviation Inc. (NYSE: JOBY), a Santa Cruz, California-based company that builds an autonomous, electric vertical takeoff and landing (eVTOL) drone that has been...

https://www.freightwaves.com/news/delta-invests-in-joby-and-home-to-airport-drone-service

Air cargo peak season evaporates on low demand, high capacity

7 October 2022

A container on a hydraulic lift being loaded through side door of a plane on a bright day.

It’s the time of year when retailers typically make their final push to ship goods from abroad in time for holiday shopping and freight rates are highest, but so far signs of peak season in air cargo are difficult to find. Instead, rates continue to slide as global economic clouds dampen demand and airlift supply rises with the recovery of passenger travel.

Air freight spot rates tumbled 9% year over year in September to below the 2021 level for the first time this year, Xeneta, an ocean and air...

https://www.freightwaves.com/news/air-cargo-peak-season-evaporates-on-low-demand-high-capacity

Maersk developing South Korea-South Carolina air cargo route

10 August 2022

A white-blue Star Air jet as seen from below against blue sky.

Maersk Air Cargo tipped its hand this week on which city pairs will be part of its inaugural trans-Pacific service as the air wing of the giant ocean shipping line enters the U.S. market for the first time.

The airline plans to fly a special “demonstrator” flight with live cargo on Aug. 31 from Incheon International Airport in Korea to Greenville-Spartanburg International Airport in South Carolina, Adam Farmer, head of sales for Maersk in Northeast Asia and a managing director in Korea, said in...

https://www.freightwaves.com/news/maersk-developing-south-korea-south-carolina-air-cargo-route

Airbus A380 super jumbo jet makes comeback

27 June 2022

To paraphrase Mark Twain, reports of the Airbus A380’s demise are greatly exaggerated.

Deutsche Lufthansa AG on Monday announced it will reactivate some of its super jumbo jets that were mothballed during the COVID pandemic because of the recent sharp rise in travel demand and the delayed delivery of ordered aircraft, such as the Boeing 787 and 777-9.

The German flag carrier said it expects to use the long-haul aircraft beginning in the 2023 summer travel season. The company is assessing how many...

https://www.freightwaves.com/news/airbus-a380-super-jumbo-jet-makes-comeback

IATA chief accuses Europe of ‘greenwashing’ on aviation emissions

23 June 2022

A jet being loaded with cargo and getting refueled at an airport.

A major trade group for global cargo and passenger airlines is calling on governments to do more to ensure increased production of sustainable aviation fuels (SAF), as well as the safe deployment of 5G telecommunications networks and carriage of lithium batteries on aircraft.

The International Air Transport Association issued the positions at its annual general meeting in Doha, Qatar, this week.

IATA said governments must quickly adopt large-scale incentives to spur the rapid expansion of...

https://www.freightwaves.com/news/iata-chief-accuses-europe-of-greenwashing-on-aviation-emissions

+ More