English Arabic Armenian Azerbaijani Chinese (Simplified) Chinese (Traditional) Czech Danish Dutch Estonian Filipino Finnish French Galician Georgian German Greek Hindi Hungarian Icelandic Indonesian Italian Japanese Korean Latvian Lithuanian Malay Maltese Norwegian Persian Polish Portuguese Russian Slovak Slovenian Spanish Swedish Thai Turkish Ukrainian Vietnamese

Atlas Air profits as Panalpina changes to charters

PURCHASE, NY: Atlas Air Worldwide Holdings has reported net income of US$102.2 million on revenue of US$1.79 billion for 2014 - up from US$93.9 million and US$1.65 billion respectively during the previous year.

Fourth quarter revenue was US$488.8 million, an increase from US$470.6 million in the same period in 2013. As a result, net income rose from US$28.2 million to US$41.6 million.

President and CEO Bill Flynn said that the year ended well for the company and early 2015 is looking good: "After the first significant peak-season in several years, airfreight activity in the first quarter so far continues to reflect the broad-based pickup in demand that began in 2014."

Panalpina Atlas 2However he added that industry forecasts of 4.5 percent growth this year would only be achieved if there was a continuation of "positive global economic activity driven by healthy consumer and business confidence".

Atlas says its has combined its military and charter operations into a single unit due to a reduction in military contracts.

Next month the company will transfer a 747-8 freighter currently provided to Panalpina to DHL for use on its transpacific services. Atlas will replace the capacity with a long-term charter contract to Panalpina and continue to provide a wet-leased 747-8 freighter to the company between points in Mexico, the U.S. and Europe.

Lucas Kuehner, Panalpina global head of Air Freight explained the new five-year deal with Atlas: "The switch from one of our wet-leased 747-8Fs to more than 200 scheduled full charters per year as part of this agreement equals a change in our procurement strategy and prepares the ground for the continued expansion of our controlled air freight network."

As of March, Panalpina will operate flights from Hong Kong to Huntsville with dedicated scheduled charters using Atlas 747-400 freighters. "We will not only maintain our scheduled capacity for our customers on the transpacific route but are planning to extend this service together with Atlas Air," added Matthias Frey, global head of the logistics company's airfreight network.

News

Written on 16/09/2017, 03:38
panam-provides-canada-rail-link-to-bostonPORT ST JOHN, Canada: September 13, 2017. Port operator DP World and PanAm Railways are launching an intermodal rail service between the New Brunswick...
Written on 13/09/2017, 21:01
cma-cgm-to-deliver-irma-humanitarian-aidMARSEILLE, September 13, 2017. The French government has asked CMA CGM to ship 46 modular living containers, food and vehicles from Marsellie on September...
Written on 10/09/2017, 21:27
u-s-department-of-defence-responds-to-irmaMARCO ISLAND, Florida: September 10, 2017. Hurricane Irma has become the second Category 4 hurricane to make landfall on the continental U.S. in less than...
Written on 08/09/2017, 19:53
iata-warns-of-airfreight-peakGENEVA: September 06, 2017. IATA reports an 11.4 percent increase in freight tonne kilometers (FTKs), in July over the same period a year ago. The...
Written on 08/09/2017, 19:21
alibaba-signs-third-government-mou-in-latin-americaHANGZHOU, China: September 06, 2017. The Alibaba Group has signed an MoU with Mexico to provide the country's SMEs with global e-commerce, digital...
Written on 06/09/2017, 21:07
mars-to-invest-nearly-us-1-billion-on-sustainabilityMCLEAN, VA.: September 06, 2017. Family-owned candy and pet-food manufacturer Mars is to spend nearly US$1billion on a sustainability plan to tackle...
Written on 06/09/2017, 18:43
europe-s-intermodal-rail-network-loses-billionsBRUSSELS: September 05, 2017. Over 20 European rail and logistics organizations are warning Europe's intermodal network is "about to collapse" following...
Written on 05/09/2017, 17:39
new-joint-venture-for-us-mexico-rail-ferryDARIEN, CT/FORT LAUDERDALE, FL: September 05, 2017. Railroad operator Genesee & Wyoming (G&W) is investing in a four-day rail ferry service...
Written on 03/09/2017, 22:17
audi-opts-for-green-rail-logisticsINGOLSTADT, Germany: September 01, 2017. Audi says it is the first company in Germany to be CO2-neutral using DB Cargo's 'DBeco plus' rail service. The...
Written on 30/08/2017, 23:14
public-private-partnerships-respond-to-harveyHOUSTON/BATON ROUGE: August 30, 2017. As UPS and FedEx join other US$1 million-donors in responding to what is described as the worst flooding disaster...
Written on 28/08/2017, 16:42
new-uk-garbage-transport-planLONDON: August 28, 2017. The British government is offering £22 million to develop low carbon waste-based fuels to power commercial aircraft and...
Written on 25/08/2017, 15:37
qantas-plans-profitable-nonstop-to-new-yorkSYDNEY: August 25, 2017. Qantas chairman Alan Joyce has challenged Boeing and Airbus to build an aircraft that can fly non-stop with a full payload...
Written on 24/08/2017, 22:04
walmart-launches-a-googlemart-to-compete-with-amazonBENTONVILLE, AK: August 23, 2017. Walmart is partnering with Google to launch voice shopping for its U.S. customers via Google Assistant starting in late...
Written on 24/08/2017, 19:33
nepal-forwarders-recognize-qatarKATMANDU: August 23, 2017. The Nepal Freight Forwarders Association has given Qatar Airways Cargo an award for carrying the most export tonnage out of...
Written on 23/08/2017, 17:30
panama-handles-largest-box-carrierPANAMA CANAL: August 22, 2017. The CMA CGM Theodore Roosevelt, with a capacity for 14,855 TEU, has become the largest box ship to traverse the expanded...
Written on 22/08/2017, 16:07
hawaii-shippers-to-have-third-liner-serviceHONOLULU, HI: August 21, 2017. Tote Maritime, part of the Alaska-based Saltchuck logistics group, is to launch a new ocean service to Hawaii from the U.S....
Written on 18/08/2017, 21:43
mexico-boosts-miami-air-cargo-volumeMIAMI: August 17, 2017. Miami International Airport has reported a 4.8 percent growth in cargo traffic for the first half of 2017 with domestic traffic...
Written on 17/08/2017, 18:44
turkish-cargo-helps-save-livesMOGADISHU: August 15, 2017. In March this year actor Ben Stiller and other celebrities launched a viral crowdfunding appeal on behalf of the famine in...
Written on 17/08/2017, 18:01
first-flight-out-for-hungarian-horsesBUDAPEST: August 15, 2017. Cargolux and Hellmann Worldwide Logistics have flown 14 Hungarian-bred racehorses from Budapest via Luxembourg and Beijing to...
Written on 11/08/2017, 15:35
european-commission-supports-hna-purchase-of-frankfurt-hahn-airportFRANKFURT HAHN: August 10, 2017. The HNA Group has completed its acquisition of Frankfurt-Hahn airport from the German state of Rhineland-Palatinate. The...

- powered by Quickchilli.com -