In the news
- Freight capacity and demand slowed for Cathay Pacific and wholly owned subsidiary Dragonair last month, declining 11.4 percent and 10.5 percent, year-over-year, respectively. Cathay Pacific and Dragonair’s cargo and mail load factor also dropped in July, falling 1.9 percent, year-over-year, to 64.7 percent. In total, the combined carriers transported 125,343 tonnes of cargo and mail last month.
- Met with increasing demand for logistics services, Kuehne + Nagel officials have opened an 86,000-square-foot warehouse in Auckland, New Zealand. The development includes a 65,000-square-foot outside handling and storage space.
- Iberia Cargo will serve as TAM Linha Aereas S.A’s freight-handling agent in Spain, following a deal parent company IAG Cargo inked with the Brazilian carrier. Iberia Cargo is already the cargo-handling agent for Chile’s LAN Airlines S.A, which merged with TAM in June. Last year, the Spanish freight carrier handled 14,000 tonnes of cargo for LAN; this volume is expected to surge to 17,000 tonnes in 2012.
- Los Angeles-based Mass Hysteria Entertainment Co. has signed a non-binding MoU to acquire an unnamed global airfreight provider currently operating in Asia. Following the deal, the entertainment group also plans also procure aircraft and launch routes in North America and Europe.
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