A strong quarter for UPS — despite the weather

UPS reported first-quarter net income down 12.2% y-o-y to $911 million, as revenue rose 2.6% to $13.78 billion. Operating profit for the quarter was down 4.2% to $1.51 billion. The seeming disconnect between rising revenue and falling profit was the result of “unusually harsh weather [which] weighed on operating profit by approximately $200 million.” Absent […]

Day One for the New Cargolux

Effective today, Henan Civil Aviation and Investment Co. Ltd (HNCA, an investment arm of the government of China’s Henan province) owns 35% of Luxembourg-based Cargolux Airlines. The sale of the stake to HNCA was agreed to late last year, and although it has only become final today, it has already had an enormous impact on […]

Fleet renewal at Centurion Cargo

Miami-based all-cargo carrier Centurion Cargo confirmed to Cargo Facts that it plans to retire the nine MD-11 freighters in its own fleet and the fleet of sister carrier SkyLease Cargo over the next two to three years, replacing them with a smaller number of 747-400 freighters. At present, Centurion and SkyLease operate a total of two 747-400 […]

Canadian carriers plan merger

Two Canadian carriers, both with significant cargo operations, are in merger negotiations. First Air and Canadian North both specialize in serving the remote northern part of the country, and both have main-deck freight operations. The merger, assuming the two companies agree to go ahead with it, would be subject to review by Canadian regulatory authorities, […]

Air France-KLM considers ending freighter operations

Air France-KLM is reported to be considering exiting the main-deck freight business. The Bloomberg news service quoted “two people familiar with the carrier’s plans” as saying Air France-KLM is about to undertake a review of its money-losing cargo business, with ending freighter operation one of the options. After seeing losses steadily mount in its cargo […]

Cargo demand strengthens in March

Most of the world’s big cargo airlines and airports have now reported their first-quarter results, and, as shown in the chart at right, the news is surprisingly good. The January/February period saw a continuation of the trend of increasing air freight demand that began mid-last year, and that trend is strengthening in March. Look, for […]

Hactl resurgence

In February 2013 Cathay Pacific Airways began the process of moving the handling of its cargo in Hong Kong from Hactl (Hong Kong Air Cargo Terminals, which until that point handled about 75% of the cargo at HKIA ) to its own newly constructed facility. By October, the move was complete, and Hactl had lost […]

What next for Global Supply Systems?

UK-based Global Supply Systems (GSS), in which Atlas Air Worldwide Holdings is a 49% stakeholder,  was formed in 2002 in order that British Airways World Cargo could continue to ACMI lease freighters from Atlas, while staying compliant with UK law. GSS dry-leased three 747-400Fs from Atlas, and operated them on an ACMI basis for BA […]
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