If you’re an airline with the name Scoot, you’ve got to move fast. The Singapore carrier did that when it transitioned to cargo flights and removing passenger seats.
Now is a good time for carriers that boosted their balance sheets with PPP loans to leverage that by investing in technology.
Q2 EBITDA increases 53.7% and operating cash flow jumps 86.9%.
The United Nations’ World Food Program is running a global air network with partner airlines to deliver COVID relief supplies to underserved communities but doesn’t have enough funding to continue the flights much longer.
Executive Director Gene Seroka does not want to break the 15-month record set during the recession of 2008-09.
Several passenger airlines have proven that cargo can be lucrative business during a pandemic with little travel. American Airlines quickly built a dedicated cargo operation but is now throwing more resources at the business as market conditions improve.
Taiwanese carrier’s dry bulk business takes a beating.
The coronavirus pandemic remains a “major source of uncertainty for the entire logistics industry.”
“We’re not doing any victory celebrations because the trade outlook remains unclear as long as the pandemic is with us.”
Operating profit “turnaround” of more than $300 million reported.
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Warm, dry weather isn’t just easier on the body, it’s nice for airplanes with metal frames and electronics that can deteriorate when there is too much moisture. That’s why Cathay Pacific is sending its planes to a sunny vacation spot while it waits for the coronavirus to go away and customers to start flying again.
Airfreight rates from China are on the rise again. The rest of the world is more stable when it comes to air cargo. But China is driving much of the transport activity because of its export of face masks and other goods.
United Airlines is slowly ratcheting up its passenger schedule each month as travel increases, but it’s a tricky game to figure out how much supply to add in an uncertain world.
“Cargo volume reductions related to COVID-19 were offset by the strength of our export markets and record volumes earlier in the year,” says GPA Executive Director Griff Lynch.
Orient Overseas Container Line briefly outlines performance for the second quarter and first six months of 2020.
Airfreight looks like a haven for some ocean shippers that can’t find reliable, affordable transportation, but it probably won’t be that way for long because more businesses will need to move goods by air in the coming months and there aren’t enough planes.
Wrecked car carrier, with some 4,200 vehicles on board, has been on its side in St. Simons Sound since September.
Express carriers UPS and DHL helped push Brussels Airport into the black for June’s cargo volume. Most airports during the pandemic haven’t been able to make up for the loss of passenger flights on which so much cargo typically flows.
The global airfreight market contracted during the first six months of 2020, but airlines made much more money from cargo than last year, according to World ACD.
