Top Fifty Cargo Carriers in 2014

Today we begin a two-part analysis of the top cargo carriers in 2014. We will continue tomorrow, when we examine some interesting trends that emerge when we dig a little deeper into the data. After years of steadily rising through the ranks, Emirates became the world’s top international cargo carrier in 2013, and that dominance continued in […]

Qatar Airways goes big in the charter market

Qatar Airways acquired another freighter, this one specifically for use in the rapidly growing project cargo market. Qatar Airways ACMI-leased a 747-400BDSF (24998) from Turkey-based myCargo Airlines. The term of the lease is three months, after which Qatar will replace the converted freighter with a production 747-400F noseloader, also to be ACMI-leased from myCargo. (We […]

Will yuan devaluation help or hurt air freight?

China today devalued its currency by 1.9% against the US dollar, the biggest drop since the country aligned its market and official rates. The People’s Bank of China said “Since China’s trade in goods continues to post relatively large surpluses, the yuan’s real effective exchange rate is still relatively strong versus various global currencies, and […]

ATSG, the evolution continues

US-based Air Transport Services Group (ATSG) reported second-quarter net income up 13.4% to $10.8 million, despite a slight (0.8%) decline in revenue to $148.4 million. Operating income (EBIT) for the quarter was up 9.3% to $19.8 million. The story behind these big increases in income is interesting, and reflects the evolution of what was once […]

EU carriers continue to struggle

In the European Union, just four airline groups – Air France-KLM, Cargolux, IAG, and Lufthansa – carry almost 90% of the cargo flown by EU-based carriers. Historically, these have been some of the most respected and successful airlines in the world, but history doesn’t stand still, and all of these once-mighty cargo operations have struggled […]

Atlas posts a solid 2Q, looks ahead to strong peak

Atlas Air Worldwide Holdings (AAWW) this morning reported second-quarter net income down 4.1% y-o-y to $28 million, as total revenue rose 3.3% to $456 million. Operating income for the quarter was up almost 130% to $61 million. However, after adjusting for a variety of one-time charges and gains in the second quarters of 2014 and […]

Good news from Cargolux

Cargolux and the OGBL union, which represents the majority of its pilots, made a major breakthrough in negotiations toward a new contract. Late last week we reported a blow-up between the two major unions representing pilots at Luxembourg-based Cargolux. Members of the smaller LCGB staged a one-day “warning action” that delayed or grounded about 25% […]

Cargolux unions battle each other

Luxembourg’s LCGB union, which represents some of the pilots at all-cargo carrier Cargolux, undertook a “24-hour warning action” today, grounding one-quarter of the airline’s flights. But while Cargolux and its unions have been in seemingly non-stop conflict for over two years, today’s mini-strike is more complicated than just another skirmish in a long-running battle. The […]
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