Agility sees another strong quarter for revenue, but airfreight falls

Kuwait-based logistics provider Agility reported a 3.2% year-over-year increase in its revenue for the second quarter alongside an 8.1% increase in profit for the quarter, despite an airfreight market afflicted by “volume declines and shifts that have resulted from U.S.-China tariffs and import restrictions,” the company said in a statement on the results. Across the […]
  • Caryn Livingston
  • August 14, 2019

XPO Logistics sees strong margins in Q2, despite challenges

Connecticut-based XPO Logistics reported strong margins during its second quarter this year, despite a decline in revenue and tough market conditions. The company’s stronger performance in North American less-than-truckload (LTL) operations helped to offset market weakness, and will inform XPO’s operational strategy going forward, company Chairman and CEO Bradley Jacobs said in a statement. “We’re […]
  • Caryn Livingston and Chelsea Toczauer
  • August 5, 2019

Trade war bites into Atlas’ 2019 income

During its earnings call today, Atlas Air Worldwide Holdings CEO William Flynn revealed that “revenue and earnings in the second quarter were below our expectations, as air cargo volumes and yields were affected in the near term by the widely reported impact of tariffs and trade tensions.” The situation is unlikely to improve in the […]
  • Caryn Livingston
  • August 1, 2019

Challenging first half for Lufthansa Cargo in interim results

Lufthansa Group reported a 2% year-over-year decline in traffic for both the second quarter and first half of 2019, which the group attributed to “lower economic growth and market uncertainty in the face of trade conflicts and Brexit.”  Traffic figures stood at 4.50 billion revenue tonne kilometers (RTKs) for Q2 and 5.24 billion RTKs for the first […]
  • Caryn Livingston
  • July 30, 2019

American Airlines’ cargo revenue falls 15% in 2Q19

American Airlines’ cargo traffic fell 16.2% during the second quarter to 644 million cargo ton miles, or about 940 million freight tonne kilometers, leading to a 15.4% decline in cargo revenue, the company said this week during its earnings call.  “Our cargo yields were slightly higher during the quarter, but year-over-year scheduled reductions and falling demand in Asia and Europe markets meant that cargo revenue fell […]
  • Caryn Livingston
  • July 26, 2019

DB Schenker parent reports jump in net financial debt, capex for 1H19

Today, DB Schenker parent, Deutsche Bahn AG, released its preliminary figures for the first half of 2019 that showed a large increase in net financial debt and capital expenditures, and mixed results among its subsidiaries, DB Schenker and DB Cargo.  DB’s net financial debt rose to US$18.3 billion (€25.4 billion) as of June 30, 2019, up […]
  • Chelsea Toczauer
  • July 25, 2019

UPS reports Q2 growth on strong Next Day Air demand, announces new services and drone application 

Today, UPS reported second-quarter 2019 net income was up slightly by 1.0% year-over-year to $1.70 billion, on revenues that were up by 3.4% at $18.1 billion. Operating profit for the quarter grew 6.3% to $1.23 billion, as the company leveraged rising demand for U.S. Next Day Air service and cost management strategies in its International Package and Supply Chain and Freight segments.  The company also […]
  • Chelsea Toczauer
  • July 24, 2019

Temasek-backed SATS plunges on macro headwinds, Jet Airways

Singapore airline services provider, SATS Ltd., plunged after it reported a drop in earnings due to global macro headwinds and suspension of an Indian airline. Shares of SATS plunged as much as 5.6% on Friday, the most in nearly seven years. The provider of in-flight meals and ground-handling services, considered a bellwether of global economy, […]
  • Bloomberg News
  • July 19, 2019

CEVA begins new era under CMA CGM with Q1 drop in air volume

Following yesterday’s annual general meeting, CEVA reported its first-quarter results today, showing a 6.9% drop on air cargo volumes, compared to the previous first quarter, plus several corporate structure changes as French seafreight firm CMA CGM begins its governance over the Swiss 3PL. For Q1 of 2019, CEVA said the dip in the air segment […]
  • Randy Woods
  • April 30, 2019

PeP woes continue for Deutsche Post-DHL in Q4 earnings

Despite revenue growth across all segments during the fourth quarter, and operating profit (EBIT) growth in the Express and Global Forwarding segments, Deutsche Post-DHL Group (DP-DHL) reported Group EBIT declines of 4.0% year-over-year for 4Q and 15.5% for the full year of 2018 due to sharp declines in the Post-eCommerce-Parcel (PeP) segment. PeP EBIT fell 28.4% and […]
  • Caryn Livingston
  • March 7, 2019

IAG Cargo gets boost from Asia-Pacific demand, oceanfreight congestion

IAG Cargo’s revenue increased by 4.3 percent for the first nine months of 2017, rising to €775 million as the carrier’s total cargo tonne kilometers (CTKs) also rose. Over the third quarter of 2017, cargo revenue increased 7.9 percent year-over-year, to €259 million. The carrier attributed growth to stronger performance in the Asia-Pacific region after […]
  • Caryn Livingston
  • October 31, 2017

American Airlines Q3 ops impacted by hurricanes

While American Airlines reported an increase in total revenue of 2.7 percent during the third quarter of 2017, compared with the same quarter in 2016, net income for the airline in Q3 fell by 15.3 percent to US$624 million, as the carrier’s operations were negatively impacted by hurricanes Harvey, Irma and Maria, which struck the […]
  • Caryn Livingston
  • October 27, 2017

DSV’s Q3 earnings, volume growth up with UTi integration

Danish freight-forwarder DSV is continuing to reap the benefits of last year’s acquisition of U.S.-based 3PL UTi Worldwide, as the integration of its operations with DSV’s pushed up the company’s earnings before income and taxes (EBIT) for the third quarter by 34.4 percent, year-over-year. Airfreight tonnage also rose 11.7 percent over the same time period. […]
  • Caryn Livingston
  • October 26, 2017