Digital freight forwarder Zencargo raises US$4 million

London-based digital freight forwarder Zencargo today announced the completion of its “seed plus” round of funding, led by LocalGlobe, with participation from Samos Investments and Picus Capital, bringing total funds raised to more than US$4 million for the startup. Zencargo said the money will go toward accelerating its product development process and expand its presence […]

Cargo demand rebounds in the Asia-Pacific

Despite months of decreased demand, cargo volumes in the Asia-Pacific surged 7.8 percent, year-over-year, in February, according to a press release issued by the Association of Asia Pacific Airlines. Freight capacity in this region also grew in February, increasing 6 percent, year-over-year, the AAPA revealed. Cargo load factor totaled 66.1 percent.
  • Staff Reports
  • April 2, 2012

Cathay introduces e-AWB to Malaysia and Singapore

Cathay Pacific has extended electronic airwaybills to all shipments from Singapore and Malaysia, an action in line with the International Air Transport Association’s goal of universal e-AWB implementation by 2014. This development comes 16 months after Cathay Pacific went 100-percent paperless in Hong Kong.
  • Staff Reports
  • April 2, 2012

Air China Cargo Expanding in shrinking Asia-Pacific market

Just when major competitors like Singapore Airlines and China Airlines are sidelining cargo planes in a desperate effort to arrest the decline in yields, Air China Cargo’s freighter fleet is looking to add new routes. The last two of four B747-400BCFs that Cathay Pacific is contributing to the joint venture with Air China are due […]
  • Staff Reports
  • March 30, 2012

Shiphol looking eagerly to the future after a lackluster 2011

Activity at Amsterdam Schiphol is already picking up in 2012.  Turf for the new 45-acre Schiphol Logistics Park has just been cut, and the airport’s passenger terminals will soon be expanded, which will unfortunately necessitate moving some cargo bases. Finally, the airport’s A4 Zone West project, a 141-acre development, is starting to generate momentum. “We […]
  • Staff Reports
  • March 30, 2012

UPS buys TNT Express for $6.77 billion

After protracted public negotiations, UPS will acquire TNT Express for $6.77 billion, a deal that comes a little more than a month after TNT Express rejected UPS’ $6.4 billion acquisition offer.
  • Staff Reports
  • March 30, 2012

Cargolux posts $18.3m loss in 2011

Sluggish freight traffic in the Asia-Pacific, staggering fuel prices, and delays in Boeing 747-8F deliveries crippled Cargolux’s performance in 2011, according to company officials. In addition to reporting a net loss of $18.3 million, the Luxembourg-based freight carrier decreased capacity by 1.3 percent, year-over-year, on a load factor decline of 2.5 percent.
  • Staff Reports
  • March 30, 2012

EU fines freight forwarders €169 million

The European Commission has levied €169 million in fines to 14 freight forwarding groups for conspiring to fix cargo surcharges, among other activities, from 2002 to 2007. The U.S. Department of Justice has so far slapped 22 carriers and 21 airline executives with similar charges.
  • Staff Reports
  • March 28, 2012

Changi Airport to launch cargo incentive program

Singapore’s Changi Airport Group is launching an S$15 million initiative to boost airfreight volumes in the Asia-Pacific. Beginning April 1, freighters landing at Changi Airport will receive a 20-percent fee rebate, while cargo tenants leasing property at the Changi Airfreight Center will enjoy rental rebates of up to 20 percent.
  • Staff Reports
  • March 28, 2012

Five questions with … Elizabeth Shaver

The U.S. Air Transport Association got a facelift in December when it rebranded as Airlines for America. The new name better conveyed the aviation sector’s vital role in connecting the U.S. to the global economy, A4A officials said. No one can better attest to this fact than Elizabeth Shaver, who was named director of cargo […]
  • Staff Reports
  • March 28, 2012

2012 Air Cargo Excellence Awards

Emirates SkyCargo, Qatar Airways and Southwest Airlines each received platinum awards in their respective tonnage categories at Air Cargo World’s annual Air Cargo Excellence awards ceremony last month at the Shangri-La Hotel in Kuala Lumpur. Carriers were rated on customer service, performance, value and information technology. Ted Stevens Anchorage International Airport, Frankfurt Airport and nine […]
  • Staff Reports
  • March 28, 2012

IATA slashes 2012 profit forecast

The International Air Transport Association has downgraded its global profit forecast for 2012 from $3.5 billion to $3 billion amid escalating fuel prices. It’s a number that could have been significantly lower, had cargo markets not stabilized and the U.S economy not improved, according to an IATA press release.
  • Staff Reports
  • March 28, 2012