Expeditors reports record 3Q profits

US-based forwarder and logistics services provider Expeditors International reported record third quarter profitability, with the highest net revenue and operating income in its history. During this year’s third quarter, net income was up 35.2% year-over-year to $163 million, as net revenue increased 10.4% to $661 million. Operating income for the quarter was up 8.7% to […]
  • Chelsea Toczauer
  • November 7, 2018

JD.com launches dedicated freighter service through Tianjin Air Cargo partnership

Confirming long-suspected rumors about the next step in its logistics journey, Chinese e-commerce giant JD.com launched 737 freighter service today under its JD Logistics brand, in partnership with HNA Group subsidiary carrier Tianjin Air Cargo. The move represents a major departure for the company, which until now has relied on moving air freight in the […]
  • Caryn Livingston
  • November 5, 2018

ATSG reports improved income in 3Q, looks to add more 767s

During an earnings call to discuss its third quarter financial results today, Ohio-based Air Transport Services Group reported that unexpected delays in deploying three 767 freighters through its leasing arm led to lower-than-expected revenue during the quarter. However, those aircraft are on track for deployment by the end of this year, and ATSG is on […]
  • Caryn Livingston
  • November 2, 2018

Atlas 3Q performance, peak season expectations strong

Atlas Air Worldwide Holdings (AAWW) reported third-quarter net income of $71.1 million, up from a net loss of $24.2 million for 3Q 2017, and expects strong performance for the fourth quarter on expectations of a record peak season. Operating income was up by 3.3% year-over-year during the quarter, to $54.5 million, while total operating revenues […]
  • Caryn Livingston
  • November 1, 2018

Lufthansa Cargo reports solid 3Q earnings despite drop in September traffic

The Lufthansa Group reported revenues from its Logistics business segment up 11% y-o-y in 3Q18, to €594 million. EBIT for the unit in 3Q18 was €25 million, up 19% from €21 million for the same three-month period in 2017. Higher revenues were a response to a more favorable pricing environment, which boosted cargo yields, and […]
  • Charles Kauffman
  • October 30, 2018

CargoLogicAir adds fourth freighter, plans for fifth

Earlier this week, London-based CargoLogicAir (CLA) added a 747-400 freighter (35170) to its fleet, bringing the all-cargo airline’s fleet total to four units, comprised of three 747-400Fs and a 747-8F. The UK-based carrier expects to have a fifth freighter operating in its fleet by 2020. The newest addition to the fleet is on an operational lease […]
  • Charles Kauffman
  • October 25, 2018

Beneficiaries of new Hong Kong-Zhuhai-Macau bridge

Yesterday, the world’s longest sea bridge, connecting Hong Kong with Macau and the city of Zhuhai in mainland China was declared open for passage. The bridge is expected to cut travel time between Zhuhai and Hong Kong down from 240 minutes to seventy-five minutes, dramatically expanding the potential catchment areas of Pearl River Delta airports. […]
  • Caryn Livingston and Charles Kauffman
  • October 23, 2018

AirBridgeCargo names Liège Airport as new European hub

Three months after Volga-Dnepr Group signed a memorandum of understanding (MOU) to establish a new cargo hub at Liège Airport (LGG), the group’s Russian subsidiary, AirBridgeCargo Airlines (ABC), signed a 10-year lease at LGG to increase air cargo volumes to and from the airport and foster greater cooperation between the two parties. The airport said […]
  • Randy Woods
  • October 10, 2018
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