Aviation article(s)
IATA: Air cargo demand up 2.2% despite trade disruptions
IATA: Air cargo demand up 2.2% despite trade disruptions
Saudia Cargo, China Cargo Airlines ink deal to boost Asia-Europe air freight
Oman Air joins oneworld alliance
Air Hong Kong now operating all-A330 Freighter fleet
Air One moves 12-meter cargo from Liège to Abu Dhabi
IATA launches SAF matchmaking platform
APAC Logistics occupiers focus on expansion amid global trade uncertainty
Hong Kong takes center stage at TIACA 2025 Summit
Hong Kong Convention enters into force marking new era in ship recycling
FedEx retires 12 aircraft amid choppy demand
Atlas Air expands cargo facility at Miami International Airport
Asia Pacific air cargo volumes rise again on continued frontloading
Emirates SkyCargo warns of fuel-linked payload concern amid Mideast tension
Qatar Airways reinstates flights as Qatar airspace reopens
Saudia Cargo, TAM Group launch ‘Saudia Cargo Global’ from new Hong Kong hub
Rhenus expands in Southeast Asia with new Singapore air freight gateway
Cathay Pacific maintains double-digit cargo growth in May
Air Charter Service makes top management changes
South Carolina Ports reports stable cargo volumes despite uncertainty
Saudia Cargo inks global partnerships to expand reach
Frankfurt Airport cargo volume bounces back in May
Qantas Freight expands freighter operation in China
JD Logistics debuts in Saudi Arabia
Hong Kong maintains 3% export growth forecast despite tariffs
First ITA Airways flights with Lufthansa Cargo shipments arrive in Rome
MNG Airlines to order two Airbus A350F Freighters
DHL: Early peak season driven by tariff and capacity fluidity
Port of Long Beach sees cargo decline for May
Freightos: Iran-Israel conflict not impacting freight yet
WFS earns Cargo iQ Quality Certification across EMEA, Asia
AviLease orders 10 Airbus A350F freighters
Kale Logistics launches Maritime Single Window in Brunei
WorldACD: Air cargo rides uncertainty as demand grows 6% in May
WFS extends cargo handling, trucking contract with Oman Air in France
FedEx spots freight opportunities for expanded cargo plane operations
Saudia Cargo eyes fleet, network, digital upgrades in bid for Top 10 status
Malaysia sets sights on becoming a key regional cargo hub
Hong Kong sees modest air cargo growth despite trade uncertainty
WorldACD: Worldwide tonnages rebounded 4% in May after April decline
Etihad Cargo, Ezhou Huahu Airport partner to expand Asia-Pacific connectivity
Lödige Industries in Asia expands presence with new South Korea branch office
FedEx boosts APAC healthcare capabilities with CEIV pharma certification
Kuehne+Nagel, SATS launch expedited aircraft parts delivery in Singapore
Qatar Airways Cargo, IAG Cargo, MASkargo to launch global cargo partnership
Etihad Cargo introduces SmartTrack, expanding real-time shipment monitoring
Airline profitability to strengthen slightly in 2025 despite headwinds – IATA
Air China Cargo to set-up its UK cargo hub at Glasgow Prestwick Airport
Emirates SkyCargo boosts East-West connectivity with new connections
cargo.one integrates digital air freight booking with Descartes' system
WorldACD: Global air cargo market stable, while China-US lane recovers
Mersin International Port completes first phase of East Med Hub 2 terminal
Cathay Pacific, Sinopec join forces in a SAF initiative
WR Logistics appoints Massimo Naldini as CEO for Italy
Chengdu-Shenzhen-Hong Kong rail-sea corridor launched
China Airlines joins digital booking platform Freightos
ONE advances green strategy with ship recycling policy, SRTI membership
IATA: Air cargo demand up 5.8% in April
Port of Houston records double-digit container growth
Hactl advances phase two of smart cargo thermal detection
Frontloading boosts cargo volume for airlines in the Asia Pacific
Kuehne+Nagel appoints new global head of sales
Frankfurt Cargo Services expands e-commerce handling facility by 300%
Port of NY/NJ reports continued cargo growth in April
CEVA Logistics links Far East, Latin America with car carrier fleet
Kuehne+Nagel, Natilus team up on blended-wing cargo planes
APAC, Middle East records double-digit growth in air connectivity — ACI World
Transpacific ocean volumes surge during tariff pause
Qatar Airways Cargo reports record year
Lufthansa Cargo uses AI to process booking requests faster
IATA appoints Sheldon Hee as regional vice president for Asia-Pacific
Pacific Carriers, Singapore Maritime Foundation boost maritime workforce
DHL Group partners with Shopify to accelerate global cross-border shipping
WestJet Cargo expands capacity to Japan with daily Dreamliner service
WorldACD: Asia Pacific and worldwide tonnages rebound
Hasenkamp announces first art storage facility of its kind in Saudi Arabia
Swissport, Aurrigo launch first global pilot of autonomous ground handling
FedEx Global Healthcare earns IATA CEIV Pharma Certification
Kuehne+Nagel acquires Spanish road logistics provider TDN
Sudden transpacific capacity shortage amid US-China tariff pause
Lufthansa Cargo expands temperature-controlled logistics with new features
San Pedro Bay Ports open bidding for short line rail services
Neste starts to supply SAF to FedEx at LAX
Cargolux, AIT Worldwide Logistics sign landmark SAF deal
Cathay Cargo sees year-on-year growth, but monthly slowdown amid tariff uncertainty
Qatar Airways Cargo records strongest financial results since pandemic
Port of Antwerp-Bruges launches Europe’s first electric tugboat
Lufthansa Cargo to market ITA Airways capacity, adds Rome as fifth hub
HSBC: China-US tariffs pause would drive an early peak season
Lufthansa Cargo announces executive board reshuffle
China Southern Airlines’ first scheduled freighter lands at Glasgow Prestwick
Hong Kong air cargo volume rises year over year in April, slips from March
Mobull unveils new art warehouse in Brussels
Air Charter Service: Current market the most uncertain since Covid-19
SATS to invest over US$192M to enhance Changi Airport operations
Vienna Airport records cargo increase in Q1
Kuehne+Nagel unveils air freight sustainability initiative
APEC lowers 2025 growth forecast to 2.6%, urges trade policy stability
U.S. slashes ‘de minimis’ tariff on small China parcels to 30%
TIACA names Roos Bakker as first woman chair
Airforwarders Association calls for freeze on tariffs, not trade
Frankfurt-Hahn Airport partners with Somon Air to boost freight traffic
Fednav’s Paul Pathy elected BIMCO president
Awery poll: Security, compliance are top priorities for GSSAs
Frankfurt Airport cargo volume declines in April
Emirates Group confident in growth amid market volatility
China-US deescalation may spur early peak season
Etihad Cargo reshapes regional structure to drive network expansion
Cargo iQ adds SAL, Saudi Arabia's largest logistics provider
allivate digitalizes import shipment pick-up at Frankfurt Airport
U-Freight earns HKAEO accreditation for high security standards
AAPA: Supply chain disruptions hinder aviation’s role in global growth
Maastricht Aachen Airport makes new cargo appointment
US-China tariff pause offers temporary relief, could fuel another frontloading rush
Turkish Cargo signs long-term Partnership with Atlas Air for 747F flights
Qatar Airways Cargo expands Australian export capacity through Virgin Australia
WorldACD: Labor Day contributes to Asia-Pacific air cargo decline
Finnair Cargo joins Smart Freight Centre
Global schedule reliability records two consecutive month-on-month increases
CEVA Logistics announces new strategic warehouse in Singapore
China Airlines orders four Boeing 777-8 Freighters to expand cargo fleet
Qatar Airways Cargo launches campaign highlighting global trade role
Global air freight rates continue to tumble on tariff uncertainty
DHL acquires US e-commerce logistics company IDS Fulfillment
Tariff shifts reshape freighter operations, fuel market volatility
Turkish Cargo, Hong Kong Air Cargo, sign strategic MoU
Pharma.Aero, TIACA partner to boost air cargo's role in healthcare, trade
SATS appoints chief digital officer to lead global digitalisation efforts
AAL transports 60-metre port cranes from Europe to the US
dnata expands airside fleet with 800 new units in US$110M rollout
Trans Global Projects names new director as it launches Malaysian office
ICAO Council condemns radio frequency interference affecting civil aviation
Qatar Airways Cargo becomes launch customer of Mammoth Freighters 777-200LRMF
Air cargo market awaits impact of tariffs and 'de minimis' changes
DP World, Asian Terminals invest US$100M to expand Manila South Harbor
IMO enforces stricter air pollution limits for ships in the Mediterranean
WorldACD: Global cargo tonnages rise 6% in April year-on-year
Kuehne+Nagel, cargo.one partner to expand digital airline connections
ANA cargo volume rises in fiscal year 2024
UK freight group forms advisory body for Heathrow cargo overhaul
Korean Air to build urban air mobility hub in Bucheon
CMA CGM completes Air Belgium acquisition
India shuts airspace to Pakistan airlines amid rising tensions
Air cargo demand rises 4.4% in March amid frontloading ahead of tariffs
Saudia Cargo, China Henan Aviation launch Asia-Middle East air logistics bridge
Geodis, Dolfines team up on XXL lifting device for offshore wind
Emirates, Philippine Airlines to explore enhanced partnership in cargo
time:matters strengthens presence in Southeast Asia
APAC airlines report cargo growth, warn of tariff impact on demand
U-Freight sees continued global ecommerce growth despite current risks
WestJet Cargo expands service to South Korea with increased frequencies
ANA first airline to adopt fuel-saving riblet technology on Boeing 777
CEVA Logistics signs deal to acquire Borusan Tedarik, expand in Turkey
Cargolux posts strong 2024 results, cautions on global market impact
Airports in APAC, Middle East to see US$240B investment in infrastructure expansion
Swissport expands to 13 Saudi airports
WFS, Cathay Cargo ink new cargo handling contracts for Portland, Dallas Fort Worth airports
Air cargo rates from Asia Pacific fall further amid market uncertainty
CMA CGM becomes majority shareholder with 51% stake in Santos Brasil
KLN opens new Netherlands logistics facility to meet e-commerce demand
Cathay expects softening China-US cargo demand amid trade tensions
Qatar Airways Cargo, IAG Cargo, MASkargo eye launch of global cargo joint venture
ANA Cargo boosts online booking with CargoWise
IATA: Brazil's adoption of electronic air waybill a milestone for modernization
Hong Kong air cargo grows 4.8% in March driven by Middle East, Europe
Emirates SkyCargo invests in hydrogen-powered trucks
US to implement reduced port fees for Chinese ships starting October
DHL temporarily halts B2C shipments over US$800 to the US
Saudia Cargo, China Cargo Airlines forge alliance to boost Saudi-China trade
Hactl earns top marks in IATA SeMS certification
Oman Air Cargo launches new Netherlands service, boosts UK flights
Emirates SkyCargo becomes Teleport's cargo partner
UNCTAD: Global economic growth may slow to 2.3% amid mounting pressures
IATA launches information portal for live animal regulations
WFS, Emirates partner for new cargo handling contract at Frankfurt Airport
Hongkong Post halts US parcel shipments amid end of ‘de minimis’ exemptions
dnata handles over 1 million tonnes of cargo in Dubai in a year
Emirates SkyCargo expands dedicated freighter network to Narita
Kuehne+Nagel expands e-commerce deal with Orange
Etihad Cargo raises main deck capacity amid increased Greater China demand
DHL Supply Chain launches new pharma hub in Singapore
Hong Kong International Airport retains top cargo hub title for 14th year in 2024
Cathay Cargo Terminal introduces electric autonomous tractors
Korean Air to monitor trade uncertainties after recording Q1 cargo growth
Frankfurt continues to record cargo growth in March
Saudia Cargo launches new freighter routes to China, Belgium
India ends transshipment facility for Bangladesh exports
Supply chains brace for impact as US further hikes tariffs on China
Airfreight demand from China, Hong Kong to the US declines as rates rise
Robotic last-mile delivery set to transform urrban logistics — ABI Research
LOT Cargo signs up with cargo.one for online booking
Cathay launches Cathay Technologies to drive aviation digital solutions
Globe Air Cargo Cambodia named GSA for Air Premia in Cambodia, Myanmar
Etihad Cargo advances Abu Dhabi’s bid as global pharma hub
Air cargo braces for “disruptive” tariffs; removal of de minimis exemptions
Hactl, HKT establish Hong Kong’s first 5G private network-enabled air cargo terminal
DHL to invest EUR500M in Asia Pacific to boost health logistics
Airport Authority Hong Kong appoints Vivian Cheung as CEO
U.S. reciprocal tariffs to shift global trade, leave long-term effects
Rating
SATS BACK TO PROFITABILITY FOR YEAR ENDED MARCH 2024
May 29, 2024

SATS Ltd. (SATS) has swung back to profitability for the full year ended March 31, 2024, buoyed by improved cargo performance and travel recovery.

 

The Singaporean airport service company that handles the main ground handling and in-flight catering service provider at Changi Airport said its PATMI was S$56.4 million (US$41.9 million) for the full year on the back of record-high revenue of S$5.1 billion (US$3.8 billion) for the period. 

 

SATS noted the rebound in aviation from the pandemic and its consolidation with WFS as part of a Group-wide transformation into a global player.

 

"SATS has been delivering steady improvements in financial performance over the quarters since its integration with WFS, the world's largest air cargo handling firm, in April 2023. The integration with WFS is on track, with the Group's expanded network, global connectivity and consolidation with WFS contributing to its return to profitability," it said in an announcement.

 

The group's revenue for the period was up 192.9% year-on-year to a record S$5.1 billion, driven primarily by the consolidation of WFS, improvements in air cargo volumes, and the continuing travel recovery.

 

For the year, Gateway Services revenue grew 354.8% to S$4.0 billion, while Food Solutions revenue grew 27.4% to S$1.1 billion.

 

The PATMI for FY24 represented an S$82.9 million improvement from the S$26.5 million loss recorded in FY23.

 

SATS noted that its transformation into a global player with an expanded route network and global presence makes the Group well-positioned to capitalise on strong tailwinds and positive growth momentum in air cargo and passenger traffic, which will drive sustainable long-term value-added growth in the aviation sector.

 

Global air passenger traffic is projected to recover fully to 2019 levels by the end of 2024, while global air cargo traffic is forecasted to grow by 4.5% in 2024.

 

SATS said it would benefit from these trends and be further bolstered by a robust e-commerce sector and the growing demand for specialised services, which give better yields from air cargo services.

 

Looking ahead, SATS noted that its financial focus remains on reducing debt and optimising our cash position to strengthen our balance sheet, reinvesting for sustainable growth, and returning value to shareholders.

 

"We celebrate our first-anniversary milestone as a combined entity delivering another quarter of strong results leading SATS back to full-year profitability. This was driven by the aviation sector recovery, improvements in air cargo volumes and better operational performance across the business," said Kerry Mok, president and chief executive officer of SATS. 

 

"SATS is now a global player with a strong international team, and we aim to seize growth opportunities in the global aviation sector to create value for our stakeholders," he added.

 

Mok noted that SATS is also fully committed to supporting the current and future needs of Singapore's Changi Airport, one of the busiest and most respected airports in the world.

 

"We have begun delivering on our priorities of restoring profitability, optimizing capital structure, and increasing free cash flow in FY24. We are staying focused on working diligently, around the clock and around the world, to capture even more synergies from the ongoing SATS-WFS integration, streamline our portfolio, and reduce debt. We are committed to developing SATS into a market leader and responsible corporate steward that is future-ready and financially sustainable," the SATS chief further said.

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