A last-minute attempt to derail the planned FedEx/TNT Express merger was thwarted today by Brazilian regulators, when they rejected an appeal by rival UPS, which had objected to the deal on antitrust grounds. The Brazilian regulatory agency, known as Conselho Administrativo de Defesa Econômica (CADE), said it will uphold its “unconditional approval of FedEx’s intended[…]
According to data published by U.K.-based shipping consultancy Drewry, airfreight rates continued to fall for the fourth consecutive month in February, hitting the lowest point on record since the Drewry’s “Sea & Air Shipper Insight” report began monitoring airfreight rates in May 2012. Drewry reported its East-West Air Freight Price Index declined by 3.8 points in[…]
Agility reported its net income rose 4 percent, to $1.34 billion in 2015. Lower gross revenues for Agility, the Kuwait-based integrated logistics provider, did not put a damper on the company’s 5 percent year-over-year jump in 2015 net profit, which grew to US$175 million. The group blamed “challenging market conditions and exposure to currency fluctuations”[…]
The U.S. Federal Aviation Administration (FAA) posted a bright outlook in its annual market review and forecast, noting that it expects total air cargo traffic, measured in revenue tonne kilometers (RTKs), to grow by 4.5 percent in 2016, followed by stable growth averaging 3.5 percent over the next 20 years. Its projections are based on[…]
Unmanned aerial vehicles (UAVs) took another tiny step closer to acceptance in the U.S. after Flirtey, an independent drone manufacturer, successfully completed what it is calling the “first fully autonomous, FAA-approved urban drone delivery in the United States.” The test took place with special clearance by the FAA in an uninhabited area near the town[…]
Rumors have been circulating that factories in China may be idled for up to three-months prior to this year’s September G20 Summit, to be held in Hangzhou, which could put extra pressure on the supply chain and have a ripple effect on air cargo. However, local sources have told Air Cargo World that the shutdown[…]
